What’s Affecting Oil Prices This Week? (May 19, 2025)
Oil prices continue to move upwards, but the outlook is murky with the fate of tariffs still undecided and potential OPEC+ production increases.
How BP Top Brass Can Get an Elliott-Backed Revamp
May 19 (Reuters Breakingviews) – Elliott Investment Management’s next big move at BP is installing board leadership it likes. The U.S. activist, which now holds 5% of the struggling $78 billion oil major, understandably wants a swift replacement for departing Chair Helge Lund. While suitable candidates aren’t exactly abundant, some exist. The sooner a new …
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First LNG Ship Bunkering Hub in US Gulf Coast Secures Permits to Start Work
(Reuters) – A joint venture project developing the first marine fuel facility for liquefied natural gas in the U.S. Gulf Coast has secured final permits and construction is expected to begin later this year, executives involved said on Monday. The global shipping industry has been looking for fuel solutions to cut carbon emissions, with LNG …
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North Dakota Oil E&Ps plan Drop in Rigs on Weak Prices, State Says
Oil producers in the state, home to the Bakken play, have started to slow output and dropped rigs as prices have fallen below $65, the price required to break even.
Keyera Announces Two New Directors Following Retirements
Keyera Corp. announced the election of two new directors to its board following the retirement of Michael Norris and Douglas Haughey.
Dividends Declared the Week of May 12
Here is a compilation of dividends declared during the week of May 12 from select upstream, midstream and service and supply companies including Hess Corp, Diversified Energy and South Bow.
Report: China Becomes Trans Mountain Pipeline’s Biggest Customer
Prior to the ongoing trade disputes, the U.S. accounted for 50% of crude traffic on Canada’s Trans Mountain Pipeline.
Hamm: Continental Won’t Rule Out a Merger, But Don’t Count on it
Continental Resources Founder Harold Hamm said Hess Corp.’s Bakken property is interesting, as well as property held by BP Plc’s Lower 48 E&P unit BPX Energy.
Oil Posts Weekly Gain but Remains Under Supply Hike Pressure
Summary Brent, WTI rise after more than 2% drop in previous session Brent and WTI post second straight weekly gains Focus on Iran nuclear deal IEA hikes supply growth forecast, eyes surplus this year and next (Reuters) – Oil settled higher on Friday, notching a second straight week of gains on easing U.S.-China trade tensions, …
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US LNG Exporters Push Forward New Projects Despite Trade War Uncertainty
Summary US seeks to triple LNG export capacity by 2030 Trump’s 25% steel, aluminum tariffs boost construction costs Cheniere, Venture Global among those seen approving new plants HOUSTON, May 16 (Reuters) – Woodside Energy’s decision last month to proceed with its Louisiana LNG export facility was the first of over 90 million tonnes of new LNG shipping …
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