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ExxonMobil Completes Acquisition of Pioneer Natural Resources

Energy Topics & Technology, Latest, Mergers and Acquisitions, Pinned Primary, US News / By

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 …

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FTC’s Surprise Attack on U.S. Oil Icon Rattles Shale Sector

CDN and International News, Latest, Oil, Pinned Primary, US News / By

Antitrust regulators cited former CEO’s email, dinner partners Exxon agrees to exclude Pioneer Natural founder from board Bloomberg The Federal Trade Commission’s allegations that shale trailblazer Scott Sheffield tried to collude with OPEC to prop up crude prices is unnerving US oil executives pursuing more than $100 billion in deals. While Thursday’s green light from the FTC …

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Texas Operators Turn to Flaring Amid Weak Gas Prices

Conventional Energy, Energy Topics & Technology, Exploration & Production, Latest, Natural Gas, Pinned Primary, US News / By

(Reuters) – Operators drilling for oil in Texas are scrambling to dispose of their excess natural gas amid a supply glut and weak prices, prompting an uptick in flaring requests. The Railroad Commission of Texas (RRC), which regulates the state’s oil and natural gas industry, last week approved 21 exemption requests from operators, mostly in …

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OP-ED: It’s About Reducing Emissions, Not Oil Demand – OPEC Secretary General Haitham Al Ghais

CDN and International News, Conventional Energy, Energy Commentary, Energy Topics & Technology, Latest, Natural Gas, Oil, Pinned Primary / By

The pace at which global energy demand is growing means that alternatives cannot replace oil at the necessary scale writes OPEC Secretary General Haitham Al Ghais. Rather than calling for an end to oil, the focus should be on reducing emissions. OPEC Secretary General Haitham Al Ghais A recent report on oil demand by The …

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COP29 Host Azerbaijan Says Its Fossil Fuel Is ‘Gift of the Gods’

CDN and International News, Conferences, Conventional Energy, Events, Latest, Oil, Pinned Primary / By

President Aliyev commits to boosting investments in gas Country also touts its rollout of green energies this decade Azerbaijan, host of this year’s COP29 climate summit, will continue to invest in increasing gas production in order to feed demand from Europe as its president said that its abundant fossil fuels were a “gift of the …

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Oil Slips Despite Reported Israeli Attack on Iran

Conventional Energy, Latest, Oil, Pinned Primary, US News / By

(Reuters) – Oil slipped on Friday after prices spiked earlier on reports that Israel had attacked Iran as market fears of a major escalation to hostilities in the Mideast appeared to ease. After the benchmark contracts jumped more than $3 in the session, Brent futures were down 46 cents, or 0.5%, at $86.65 a barrel …

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What the March Higher in Oil Means for World Markets

Conventional Energy, Latest, Oil, Pinned Primary, US News / By

(Reuters) – Oil prices are up around 16% so far this year near $90 a barrel, with supply worries high given escalating Middle East tensions and tit-for-tat attacks on energy infrastructure between Ukraine and Russia. Investors are paying attention. After all, it was an energy price surge two years ago that helped drive inflation and …

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Biden Election Energy Politics: Biden Plans Sweeping Effort to Block Arctic Oil Drilling

Conventional Energy, Latest, Oil, Pinned Primary, US News / By

Half of National Petroleum Reserve-Alaska could be off-limits Companies say plan would violate leases, kill investment The US set aside 23 million acres of Alaska’s North Slope to serve as an emergency oil supply a century ago. Now, President Joe Biden is moving to block oil and gas development across roughly half of it. The initiative, set …

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U.S. Gulf Coast Heavy Crude Oil Prices Firm as Supplies Tighten

Conventional Energy, Latest, Oil, Pinned Primary, US News / By

(Reuters) – Prices for heavier crude oil along the U.S. Gulf Coast have climbed in recent weeks, trading at a rare near-par with lighter oil, a sign of supply tightness that could add to rising gasoline prices. Refineries along the Gulf Coast, which account for more than 55% of total U.S. refining capacity, are geared …

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Oil Funds Turn Bullish as Mideast Conflict Intensifies

Conventional Energy, Latest, Oil, Pinned Primary, US News / By

By John Kemp (Reuters) – Portfolio investors are increasingly bullish about oil as Saudi Arabia and its OPEC⁺ allies restrict production in the face of rising demand and the shadow war between Israel and Iran spills into the open. Hedge funds and other money managers purchased the equivalent of 37 million barrels in the six most …

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