Archrock Closes $357MM Deal for Natural Gas Compression Systems
Archrock acquired NGCS’ compression business, which includes approximately 351,000 hp— 71% of which operates in the Permian Basin.
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Amid Shaky Oil Market, Chevron Cuts Buyback Plans
Chevron Corp. beat earnings expectations and the oil giant said it’s prepared for the cyclical changes in the market.
Arevon Advances Development of Missouri Solar Projects
Arevon Energy is developing the 430-megawatt Kelso 1 and 2 solar projects, with the first phase anticipated to achieve commercial operations by year-end 2025.
Energy Transition in Motion (Week of May 2, 2025)
Here is a look at some of this week’s renewable energy news, including a solar power deal backed by Meta Platforms.
US Drillers Cut Oil and Gas Rigs for First Time in Three Weeks
Baker Hughes said oil rigs fell by four to 479 this week, while gas rigs rose by two to 101.
Midwest Fuel Rule Change Set to Boost Butane Supply
Refineries will recover more butane while making gasoline thus raising available inventory by 3.5%, an analyst says.
Norway’s Equinor Offloads Stake in Brazilian Oil Field for $3.5 Billion
By Kanupriya Kapoor and Kari Lundgren Equinor ASA agreed to sell its 60% stake in the Peregrino oil and gas project off the Brazilian coast to PRIO SA for $3.5 billion, as the Norwegian energy explorer seeks to streamline international operations. Rio de Janeiro-based PRIO gained. Brazilian firm Prio Tigris Ltda., a subsidiary of PRIO …
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OPEC+ Moves Forward its Meeting to Saturday, Sources Say
(Reuters) – A meeting of eight OPEC+ countries to decide on their plan for oil production policy in June will now take place on Saturday instead of Monday as originally planned, three sources with knowledge of the matter told Reuters on Friday. It was not immediately clear why the meeting was brought forward. The eight …
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How Warning Signs Hinted at Spain’s Unprecedented Power Outage
By David Latona, Emma Pinedo and Pietro Lombardi Power industry had sounded warnings Renewable energy boom makes grids vulnerable Nuclear plant closures add to challenges MADRID, May 2 (Reuters) – Spain suffered several power glitches and industry officials sounded repeated warnings about the instability of its power grid in the build up to its catastrophic …
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Shell Profit Beats Expectations, Buybacks Kept Steady
By Shadia Nasralla Q1 adjusted earnings $5.58 billion above forecast $4.96 billion Will buy back shares worth $3.5 billion in next three months Contrasts with BP that cut buybacks this year CEO says would rather buy back more shares than bid for BP LONDON, May 2 (Reuters) – Shell (SHEL.L) exceeded analyst expectations on Friday, …
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