ADNOC Takes 70% Stake in SLB’s Kuwait, Oman Land Rigs for $112MM
The agreement encompasses eight operating land rigs under contract, two in Kuwait and six in Oman.
Chevron Cuts Almost 800 from Workforce in Permian
Chevron’s move to lay off almost 800 workers in the Permian Basin follows its February announcement that the supermajor will cut up to 20% of its global workforce by the end of 2026.
NextDecade Signs 20-Year Deal with JERA for Rio Grande LNG
NextDecade continues to add customers for the proposed fourth and fifth trains at its Rio Grande LNG facility in Brownsville, Texas.
Musk Departs U.S. Government With Business Empire in Flux
By law, Musk’s status as a temporary government official was set to run out as soon as May 30 By Gregory Korte, Jennifer A. Dlouhy and Dana Hull Billionaire Elon Musk said Wednesday that his time as formal adviser to United States President Donald Trump is coming to a close, raising questions about the future …
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Terrific Turner: Oxy’s ‘Exceptional’ Results from Powder River’s Turner Sands
IP rates from Occidental’s wells completed in the Turner bench of the Powder River Basin last year averaged 1,573 boe/d. Oxy also plans to test the Mowry, Parkman and Teapot zones in the Powder.
Constitution Pipeline Back on Table as Williams Re-Starts Push
Williams Cos. says it is taking steps to secure the permits necessary to advance the Constitution Pipeline and Northeast Supply Enhancement projects.
Shell Buys TotalEnergies’ Interest Offshore Nigeria for $510MM
Shell is buying TotalEnergies’ 12.5% interest in two fields offshore Nigeria, with future plans to tie back the Bonga North field to its existing FPSO in the Bonga field.
Zeo Energy to Acquire Solar Power Producer Heliogen in $10MM Deal
The transaction is expected to close in third-quarter 2025, subject to the approval of Heliogen’s stockholders as well as customary closing and other conditions.
OPEC+ Prepares Third Dose of Oil Shock Therapy
By Grant Smith Saudi Arabia and its partners have discussed another large output hike, even as prices slide and demand wavers. Saudi Energy Minister Prince Abdulaziz bin Salman, who has recently doubled down on a radical OPEC strategy shift. Photographer: Vladimir Simicek/AFP via Getty Images OPEC+ looks set to push more oil onto a fragile …
Goldman Urges Investors to Buy Gold and Oil as Long-Term Hedges
By Sybilla Gross and Yongchang Chin Goldman Sachs Group Inc. touted gold and oil as hedges against inflation in long-term portfolios, citing the appeal of bullion as a haven amid concerns over US institutional credibility and crude’s ability to protect against supply shocks. Analysts including Daan Struyven said investors with so-called 60/40 portfolios — an …
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