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(Reuters) – Allete said on Monday a partnership led by Canada Pension Plan Investment Board and Global Infrastructure Partners would acquire the U.S. utility for $6.2 billion, including debt. The partnership would pay $67 per share in cash for all outstanding common shares of Allete, a premium of nearly 19.1% to the company’s closing share price …
U.S. Utility Allete Goes Private in $6.2 Bln Deal Read More »
May 3 (Reuters) – U.S. energy firms this week cut the number of oil and natural gas rigs operating for a second week in a row, to the lowest since January 2022, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of …
U.S. Oil and Gas Rig Count Falls to Lowest Since January 2022 – Baker Hughes Read More »
Gasoline demand growth to slow this year on EV growth in China, U.S. Summary China to make up more than half of global EV sales in 2024, impact gasoline demand European margins to weaken after new Nigeria refinery ups output U.S. gasoline consumption likely to be flat in 2024 -analysts (Reuters) – Global petrol demand …
Gasoline Demand Growth to Slow This Year on EV Growth in China, U.S. Read More »
Exxon Mobil will take 18 to 24 months to achieve its desired production synergies from its $60 billion purchase of U.S. shale oil producer Pioneer Natural Resources, the company’s top shale executive said on Friday. Exxon this week closed all-stock acquisition after agreeing to an antitrust consent order that barred the former Pioneer CEO from joining …
After the Deal: Exxon to Take up to Two Years to hit Stride with Pioneer Purchase Read More »
Saudi Arabia and its allies in OPEC+ are likely to keep oil production unchanged for a further three months when ministers review output allocations on June 1. The tightening of petroleum supplies and depletion of inventories widely anticipated at the start of the year has failed to materialise so far. If OPEC+ (Organization of the …
Transforms ExxonMobil’s upstream portfolio by more than doubling the company’s Permian footprint Combines Pioneer’s sizeable acreage, entrepreneurial culture and deep industry expertise with ExxonMobil’s balance-sheet strength, advanced technologies and industry-leading project development capabilities Transitions Pioneer’s 2050 net-zero Permian goal to a 2035 plan SPRING, Texas–(BUSINESS WIRE)–Exxon Mobil Corporation (NYSE: XOM) today announced it has closed its …
ExxonMobil Completes Acquisition of Pioneer Natural Resources Read More »
The British petroleum giant is back in the Gulf of Mexico as the US gets stuck between the black stuff and going green By Javier Blas Javier Blas is a Bloomberg Opinion columnist covering energy and commodities. He is coauthor of “The World for Sale: Money, Power and the Traders Who Barter the Earth’s Resources.” …
Biden, BP and the High-Stakes Sequel to Deepwater Horizon Read More »
By Reuters (Reuters) – Pipeline operator TC Energy beat first-quarter profit estimates on Friday, helped by robust demand for liquefied natural gas (LNG). Demand in the U.S., the largest importer of Canada’s oil and gas, rose in the first quarter according to the U.S. Energy Information Administration, benefiting Canadian energy firms. Total earnings from TC Energy’s pipeline …
Pipeline Operator TC Energy Beats Profit Estimates on Strong LNG Demand Read More »
(Reuters) – Top U.S. oil and gas producer Exxon Mobil has won the approval of the Federal Trade Commission (FTC) to close its deal for Pioneer Natural Resources on the condition that former Pioneer CEO Scott Sheffield is kept off its board. The U.S. oil and gas industry went on a $250 billion buying spree in 2023 …
Biggest Oil and Gas Sector Deals Since the Start of the Century Read More »
(Reuters) – OPEC+ oil producers are making voluntary output cuts totalling about 2.2 million barrels per day (bpd) for the first half of 2024, led by Saudi Arabia rolling over an earlier voluntary cut. These curbs from the Organization of the Petroleum Exporting Countries and allies, known as OPEC+, come on top of earlier reductions …
Explainer: What OPEC+ Oil Output Cuts are Currently in Place? Read More »
