The offshore wind sector is regaining momentum in the U.S., with 250 turbines coming in the next three years compared to seven a year ago, said Troy Patton, head of program execution for Ørsted Americas.
The restructuring will not involve any change to the ultimate control of BW Energy as the shares currently held by BW Group will be sold to BW Energy Holdings.
In exchange for Vår’s producing assets in the Norwegian Sea, DNO is paying $51 million and transferring to Vår its 22.6% interest in the Ringhorne East unit in the North Sea.
Kimmeridge Energy Management Co. said shale driller SilverBow Resources Inc.’s board prioritizes itself over investors as the proxy battle comes to a head. “The Board’s worst-in-class corporate governance that prioritizes itself and management over shareholder returns appears to have permeated throughout the entire organization in a cyclical, self-serving manner,” Kimmeridge wrote in a presentation Tuesday. This is …
Kimmeridge Calls SilverBow ‘Worst-in-Class’ as Proxy Fight Heats Read More »
American Petroleum Institute seeks appeals court review Mandates aim to curb methane leaks from oil wells, tanks Bloomberg The oil industry’s top trade group filed a petition in federal court challenging Biden administration mandates cracking down on planet-warming methane emissions from wells, tanks and pipelines, even as it pushes the government to make administrative changes. The American Petroleum Institute …
Oil Heavyweights Challenge Biden Methane Rule in Bid for Changes Read More »
Faced with a mixed bag of earnings, shareholders are looking for direction. Bloomberg The world’s oil supermajors wrapped up earnings season leaving investors with more questions than answers. BP Plc was last to report, missing estimates and suggesting it’ll do more deals in low-carbon energy — despite pledging to dial back renewables investments and focus on the core fossil-fuel …
Big Oil Needs to Figure Out Its Strategy, and Fast Read More »
(Reuters Breakingviews) – Patrick Pouyanné is seriously considering a U.S. primary listing for his $170 billion oil major TotalEnergies. The French company’s chairman and CEO will report back to his board by September. It shouldn’t take that long to decide that the move is a bad idea. Pouyanné’s main reason for considering the move is that U.S.-based …
(Reuters) – TC Energy’s planned oil pipeline spin-off is a bet that it can supply more Canadian crude to U.S. Gulf of Mexico refiners, but the venture faces stiff competition and will carry high debt when it starts up. The South Bow spin-off, which TC investors will vote on June 4, will help Calgary, Alberta-based TC …
TC Energy’s Oil Pipeline Spin-Off Faces Obstacles in Bet on U.S. Gulf Read More »
Oil and gas producers Santos and Repsol are exploring a sale of a minority stake in oilfields in Alaska they jointly own and develop in a deal that could be worth about $1 billion, according to people familiar with the matter. The oilfields include the Pikka project, which is one of the largest oil prospects in Alaska …
Energy Producers Santos, Repsol Explore Sale of Stakes in Alaska Oilfields Read More »
A drop in crude oil prices has put the U.S. back in the market for replenishing the Strategic Petroleum Reserve after selling off a record amount of crude from the stockpile in 2022. A little more than a month ago the Department of Energy canceled the purchase of about 3 million barrels of oil for …
Lower Oil Puts U.S. in Market to Buy for Strategic Petroleum Reserve, For Now Read More »
