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Global Upstream Sector Set for deals Worth $150 billion Over Rest of 2024, Report Says

CDN and International News, Conventional Energy, Energy Topics & Technology, Latest, LNG, Mergers and Acquisitions, Natural Gas, Oil / By

The global upstream industry could see dealmaking worth another $150 billion throughout the remainder of the year, with focus shifting to shale plays in U.S. other than the Permian Basin, analysts at Rystad Energy said in a report. M&A activity in the global upstream industry has already crossed the $64 billion mark this year, most …

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Oil Producers Flush With Cash Cut Reliance on Funding Markets

CDN and International News, Conventional Energy, Energy Topics & Technology, Finance, Latest, Natural Gas, Oil / By

Demand for bank loans fell in 2022 and again in 2023 The drop occurred after two years of rising oil prices Bloomberg Last year, the demand for loans from fossil-fuel companies fell 6% year-on-year and that followed a decline of 1% in 2022. From a climate perspective, this may sound like good news because the …

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Turkey in Talks with ExxonMobil Over Multibillion-Dollar LNG Deal, FT Reports

CDN and International News, Conventional Energy, Latest, LNG / By

Turkey is in talks with US energy giant ExxonMobil over a multibillion-dollar deal to buy liquefied natural gas, in an effort to curb its dependence on Russian energy, the Financial Times reported on Sunday. The country is seeking to build a “new supply portfolio” that will make it less reliant on any single partner, Turkey’s …

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Italy Pushes G7 For Coal Phase-Out Date Ahead of Energy Meeting, Sources say

CDN and International News, Coal, Conventional Energy, Latest / By

Italy is pushing for an agreement among the Group of Seven wealthy nations to set a target date for the phase-out of coal in power generation, diplomatic sources said ahead of a meeting of G7 energy ministers in Turin. An agreement on this would be one step in the direction indicated by the COP28 United …

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China’s Transition Hampered by Flat-Lining Energy Intensity

CDN and International News, Energy Commentary, Energy Topics & Technology, Latest, Renewable Energy, Solar, Wind / By

By John Kemp (Reuters) – China’s economy has become much less energy intensive over the last 40 years as its industries have modernised and the economy has shifted towards more service sector output. But energy intensity has flatlined for the last five years making it much harder to displace coal by renewables and meet the government’s …

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OP-ED: It’s About Reducing Emissions, Not Oil Demand – OPEC Secretary General Haitham Al Ghais

CDN and International News, Conventional Energy, Energy Commentary, Energy Topics & Technology, Latest, Natural Gas, Oil, Pinned Primary / By

The pace at which global energy demand is growing means that alternatives cannot replace oil at the necessary scale writes OPEC Secretary General Haitham Al Ghais. Rather than calling for an end to oil, the focus should be on reducing emissions. OPEC Secretary General Haitham Al Ghais A recent report on oil demand by The …

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TotalEnergies Looking at Primary Listing in New York, Says CEO

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French oil major TotalEnergies is “seriously” looking at a possible listing in New York, Chief Executive Patrick Pouyanne told analysts on Friday, to move closer to a majority of U.S.-based shareholders. The Paris-based company says it has 47% of institutional shareholders in the United States, and 39% of all global shareholders are located there. “We …

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COP29 Host Azerbaijan Says Its Fossil Fuel Is ‘Gift of the Gods’

CDN and International News, Conferences, Conventional Energy, Events, Latest, Oil, Pinned Primary / By

President Aliyev commits to boosting investments in gas Country also touts its rollout of green energies this decade Azerbaijan, host of this year’s COP29 climate summit, will continue to invest in increasing gas production in order to feed demand from Europe as its president said that its abundant fossil fuels were a “gift of the …

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Surveying the World’s Path From Fossil Fuels to Clean Energy – Energy Executives and Activists Weigh In

CDN and International News, Conventional Energy, Latest, Natural Gas, Oil, Renewable Energy, Solar, Wind / By

Energy executives warn that it will be a long and costly journey, while activists and analysts say there are significant rewards and little time to waste.  The nations of the Gulf know that the world’s shift to cleaner energy could change everything: Their economies today depend on demand for oil and gas, and their efforts …

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Goldman Expects Geopolitical Risk Premium to Moderate, Maintains $90/bbl Brent Ceiling

CDN and International News, Conventional Energy, Latest, Oil / By

Goldman Sachs on Tuesday said it expects further moderation in the still-elevated geopolitical risk premium of $5-10 per barrel for crude oil in the coming months, and maintained its range-bound view, with a $90 per barrel ceiling on Brent. Oil prices slipped on Tuesday, a day after touching their lowest levels in more than three …

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