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(Reuters) – Norwegian oil and gas investments are expected to hit a record high this year and will remain strong in 2025, driven by a string of new developments as well as cost inflation, a national statistics office (SSB) survey showed on Tuesday. The country’s biggest business sector now expects to invest 246.9 billion Norwegian …
Norwegian Oil Companies to Make Record High Investments in 2024 Read More »
Petrobras’ new chief executive said a basin in Brazil’s Equatorial Margin, an environmentally sensitive offshore prospect seen as the country’s most promising frontier for oil exploration, was a matter of “national interest.” Magda Chambriard, who took over as the state-controlled oil company’s chief executive after President Luiz Inacio Lula da Silva fired its former CEO …
New Petrobras CEO Pushes Offshore Oil Prospect as Matter of ‘National Interest’ Read More »
CALGARY — A new report commissioned by an industry lobby group on the federal government’s proposed emissions cap stirred up strong reactions from both oil and gas supporters and environmental groups on Monday. The report, by S&P Global Commodity Insights, was commissioned by the Canadian Association of Petroleum Producers to examine the impact of various …
(Reuters) – A group of around 40 large European and American institutional investors on Tuesday urged companies to refrain from taking shareholders to court over disagreements relating to their proposals. The group, which represents $4.4 trillion in assets under management, highlighted the lawsuit filed by Exxon Mobil against two activist groups, in which the oil company seeks to …
Highlighting Exxon Suit, Investors Urge Firms to Keep Shareholder Spats Out of Court Read More »
(Reuters) – European Union countries approved a law on Monday to impose methane emissions limits on Europe’s oil and gas imports from 2030, pressuring international suppliers to cut leaks of the potent greenhouse gas. Methane is the main component of the natural gas countries burn in power plants and to heat homes. It is also …
EU Approves Law to Hit Gas Imports with Methane Emissions Limit Read More »
(Reuters) – Iran has approved a plan to raise its oil output to four million barrels per day, the country’s Tasnim news agency said on Sunday, without providing a time frame. “An economic council headed by Iran’s interim president Mohammad Mokhber has approved a plan to raise the country’s oil output from 3.6 million barrels …
Iran Plans to Raise Oil Output to 4 Million Barrels Per Day Read More »
Venezuela aims to produce 1.23 million barrels per day (bpd) of oil in December, adding about 290,000 bpd compared to the start of the year, following the addition of drilling rigs, oil minister Pedro Tellechea said on Friday. The growth comes after a 6-month broad license granted by the U.S. Treasury Department to Venezuela’s oil …
Venezuela Aims to Reach 1.23 Mln Bpd of Oil Output in Dec, Minister Says Read More »
Summary TotalEnergies holds AGM on Friday Vote to back company’s climate strategy weaker than last year Activists target both TotalEnergies and investor Amundi (Reuters) – Shareholders in French oil and gas major TotalEnergies largely backed the company’s strategy and its CEO on Friday, but support has weakened since last year as some investors called out its …
TotalEnergies Investors Back CEO at AGM, Weaker Support for Climate Strategy Read More »
Summary Brent settles 2.1% lower for the week Interest rate policy, rise in crude oil stocks weigh Oil rig count unchanged, Baker Hughes data Market awaits OPEC+ June 2 online meeting (Reuters) – Oil prices rose about 1% on Friday, but fell for the week on worries that strong U.S. economic data would keep interest …
Oil Posts Weekly Loss as Interest Rate Policy Spurs Fuel Demand Worries Read More »
(Reuters) – Saudi Arabia is planning a multi-billion-dollar share sale in energy giant Aramco as soon as June in what would be one of the region’s biggest stock deals, two people familiar with the matter said. The offering could raise around $10 billion, one of the people said. The preparations are ongoing and the details could …
Saudi Arabia Plans Aramco Share Sale as Soon as June, Sources Say Read More »
