SEC Adopts Climate Disclosure Rules in 3-2 Vote
The regulation requires companies to disclose Scope 1 and 2 emissions, weather-related risks and other climate-related data that could have a material business impact.
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Exxon Signals Potential Counter Offer for Hess’s Guyana Assets
Exxon Mobil Corp on Wednesday said it filed a contract arbitration disputing Hess Corp’s proposed sale of its Guyana oil properties, and suggested it may counter Chevron Corp’s pending deal for the assets. Exxon said the arbitration case will preserve its right to acquire Hess’s 30% stake in the giant Stabroek offshore oil block, Senior Vice …
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Sempra Targets Summer 2025 for Commercial Start of ECA LNG Phase 1
Sempra is targeting the summer of 2025 as the commercial operations date for its 3.25 mtpa (0.43 Bcf/d) nameplate capacity Energía Costa Azul LNG Phase 1 project, located in Ensenada in Baja California, Mexico.
U.S. Crude Stocks Rise More than Forecast as Refining Ramps Up – EIA
U.S. crude oil stockpiles last week rose less than expected as refining rates picked up sharply, data from Energy Information Administration (EIA) showed on Wednesday. Crude inventories rose for a sixth week in a row, building by 1.4 million barrels to 448.5 million barrels in the week ended March 1, the EIA said. Analysts had …
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TotalEnergies Expanding Orange Basin Presence
The new acreage offshore South Africa is on trend with the Venus discovery offshore Namibia.
Stockholder Groups to Sell 48.5MM of Permian Resources’ Stock
A number of private equity firms will sell about 48.5 million shares of Permian Resources Corp.’s Class A common stock valued at about $764 million.
Berry Corporation Reports Fourth Quarter and Full Year 2023 Financial Results
(GLOBE NEWSWIRE) — Berry Corporation (bry) (NASDAQ: BRY) (“Berry” or the “Company”) announced fourth quarter and full-year 2023 results. For the fourth quarter 2023, Berry’s net income was $63 million, or $0.81 per diluted share, Adjusted Net Income(1) was $10 million, or $0.13 per diluted share, and cash flows from operating activities were $79 million. For …
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Canadian Banks’ Fossil-Fuel Exposure Outpaces U.S., European Peers
Climate change group’s report highlights Canadian exposure About 5% of the country’s GDP stems from oil and gas sector Canada’s biggest banks are more than twice as exposed to the fossil-fuel business as their European and US counterparts, according to a report from climate change think tank InfluenceMap. The country’s largest lenders — Royal Bank of Canada, Toronto-Dominion …
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Gas Prices Jump as Top US Driller Slashes Output to Fight Glut
Mild weather has sent US natural gas prices tumbling EQT cut production by 1 bcf per day starting in late February US natural gas prices surged after EQT Corp., the nation’s largest producer, said it will slash output after an unseasonably warm winter and the resulting supply glut triggered a price collapse. EQT will curtail about …
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Oil Industry Criticized From Within Over Climate Efforts
Bloomberg The boss of the world’s biggest oil-services company says his industry isn’t moving fast enough to do its part in the fight against global warming. SLB Chief Executive Officer Olivier Le Peuch said he and his peers have a responsibility to find ways to reduce greenhouse gas emissions from drilling, fracking and pumping. Yet progress during …
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