Shell Buys TotalEnergies’ Interest Offshore Nigeria for $510MM
Shell is buying TotalEnergies’ 12.5% interest in two fields offshore Nigeria, with future plans to tie back the Bonga North field to its existing FPSO in the Bonga field.
Zeo Energy to Acquire Solar Power Producer Heliogen in $10MM Deal
The transaction is expected to close in third-quarter 2025, subject to the approval of Heliogen’s stockholders as well as customary closing and other conditions.
OPEC+ Prepares Third Dose of Oil Shock Therapy
By Grant Smith Saudi Arabia and its partners have discussed another large output hike, even as prices slide and demand wavers. Saudi Energy Minister Prince Abdulaziz bin Salman, who has recently doubled down on a radical OPEC strategy shift. Photographer: Vladimir Simicek/AFP via Getty Images OPEC+ looks set to push more oil onto a fragile …
Goldman Urges Investors to Buy Gold and Oil as Long-Term Hedges
By Sybilla Gross and Yongchang Chin Goldman Sachs Group Inc. touted gold and oil as hedges against inflation in long-term portfolios, citing the appeal of bullion as a haven amid concerns over US institutional credibility and crude’s ability to protect against supply shocks. Analysts including Daan Struyven said investors with so-called 60/40 portfolios — an …
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Matador Fires Up Delaware Basin Gas Processing Plant Expansion
Fitch Ratings also upgraded the Delaware Basin producer’s corporate credit rating, Matador Resources told investors May 29.
NextDecade Announces 2.0 MTPA LNG Sale and Purchase Agreement with JERA from Rio Grande LNG Train 5
HOUSTON–(BUSINESS WIRE)–NextDecade Corporation (NextDecade or the Company) (NASDAQ: NEXT) announced today that it has executed a 20-year liquefied natural gas (LNG) sale and purchase agreement (SPA) with JERA for offtake from Train 5 at the Rio Grande LNG Facility. Under the terms of the SPA, JERA will purchase 2.0 million tonnes per annum (MTPA) of …
Freeport LNG Export Plant in Texas on Track to Return to Full Power, LSEG Data Shows
U.S. LNG company Freeport LNG’s export plant in Texas was on track to take in more natural gas on May 29 after a small reduction on May 28, a sign the plant was heading back to full power.
MARKETS REACT: Markets Hope Trump Tariffs Stay ‘Unlawful’
Who knew the three judges at the rather obscure United States Court of International Trade had the power to spark a rally in global stock markets and shove the dollar higher against its safe-haven peers? Early in the Asian trading day, news broke the court had declared President Donald Trump’s April 2 tariffs to be …
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ADNOC Drilling Buys into SLB’s Oman and Kuwait Rig Business
(Reuters) – ADNOC Drilling will acquire a 70% stake in oil services firm SLB’s onshore rig business in Oman and Kuwait for up to $112 million, creating a joint venture it seeks to double in the next year, its chief financial officer said on Thursday. The acquisition, expected to close in the first quarter of …
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DOWN BUT NOT OUT: OPEC Must Squeeze US Shale Much More to Win Oil Price War
(The opinions expressed here are those of the author, a columnist for Reuters.)*US drillers slow down operations following oil price drop *US oil output growth set to slow in 2025 *OPEC will need to deepen price war to significantly impact US output By Ron Bousso LONDON, May 29 – Oil drillers in the U.S. shale …
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