Harbour Energy, UK, enters Gulf of Mexico LLOG market with $3.2 billion deal
Harbour Energy, a North Sea-focused company, announced on Monday that it will purchase deepwater oil exploration and production firm LLOG Exploration at a price of $3.2 billion. This marks its entry into the U.S. Gulf of Mexico.
Bousso: The geopolitical premium of oil in the ROI vanished by 2025 and is unlikely to return.
In 2025, the global oil markets were faced with multiple black swans events - such as the Israel-Iran War and Ukrainian attacks on Russian refineries - but they were not fazed. In an age of abundant energy, this calm could be the new norm.
Palm oil prices rise on stronger export data and bargain buying
Malaysian palm futures rose on Monday as a result of stronger export data, bargain-buying, and higher crude oil prices. By midday, the benchmark palm oil contract on Bursa Derivatives Exchange for March delivery had gained 58 Ringgit (1.49%) to $3…
Battery boom sparked by China's energy reforms and global data centres
The Chinese energy storage manufacturers are booming as a result of the revamping of China's electric market. According to one estimate, Chinese firms will see a 75% increase in global shipments this year of lithium-ion batteries for energy storage.
Baker Hughes reports that US drillers have cut their oil and gas rigs a second time in a week.
Baker Hughes, an energy services company, said that the U.S. firms have cut back on the number of oil and gas rigs for a second consecutive week for the first time since August. The number of oil and gas rigs, a good indicator of future production…
Japan's JERA receives government subsidy on US ammonia imports
JERA, Japan's largest power generator, has received a 15-year government subsidy to cover the?difference between coal and ammonia prices. It aims to import ammonia to its planned U.S. The government has agreed to provide a subsidy for 15 years…
Goldman projects oil prices to decline and sees gold at $4900 by December 2026. Copper remains the preferred industrial metal.
Goldman Sachs believes that gold prices will rise 14% by December 2026 to $4,900 an ounce in its base scenario. However, the firm warned of upside risks due to potential diversification with private investors. Goldman Sachs stated…
Britain Imposes Sanctions on Russia's Energy Sector
Britain imposed sanctions on Thursday on more Russian oil companies and Canadian-Pakistani billionaire Murtaza Lakhani as part of efforts to ramp up pressure on Moscow over the war in Ukraine.The government targeted 24 individuals and entities…
What is Fusion Energy, the Quest that Trump Media is so enamored with?
Scientists and businesses have tried for decades to harness the fusion energy that powers the sun to produce electricity on Earth. The $6 billion merger announced on Thursday between U.S. president Donald Trump's Trump Media…
Meg O'Neill, BP's new CEO, will be the first woman ever to lead an oil company.
Energy industry veteran Meg O'Neill was tapped by BP as the leader of a shake-up within the London-based 'oil major'. She made an immediate impression when she took over at Australia's Woodside Energy and secured a deal which doubled the company's production portfolio.
Russell: Despite Trump's trade moves, the US imports to Asia will drop by 2025.
Asia's imports from the United States of crude oil, coal, and liquefied gas are expected to decrease this year in spite of President Donald Trump’s efforts?to increase shipments through his trade and tariff policy. China is the main driver of the decline in US imports.
Why US producers are paying attention to Canada's most popular shale play
Executives, analysts, and advisors say that U.S. producers of oil and gas are seeking new drilling territories in Western Canada's Montney Basin, an enormous shale play in a remote area. The basin is already a hub of M&A and may see even more deals in the near future.
The new BP CEO has a long-lasting legacy at Australia's Woodside
Energy industry veteran Meg O'Neill was tapped by BP as the leader of a shake-up within the London-based oil giant. She made an immediate impression when she took over at Australia's 'Woodside Energy', securing a deal which doubled the production portfolio.
EUROPE GAS-European Gas Prices Rise on Colder Weather Demand
Dutch and British gas rates posted modest gains on Thursday, but it is expected that they will remain flat as the 'increased demand due to colder weather' can be easily met through pipelines and liquefied natural gas deliveries.
The new BP CEO has a long-lasting legacy at Australia's Woodside
Energy industry veteran Meg O'Neill was tapped by BP as the leader of a shake-up within the venerable London based major. She made an immediate impact when she took over at Australia's Woodside Energy and secured a deal which doubled the production portfolio.
JETP estimates Indonesia requires $92 billion for decarbonising the captive power sector by 2050
In a recent report, the Just Energy?Transition Partnership stated that Indonesia will need to invest an estimated $31 Billion by 2030 and a total $92 Billion by 2050 in order to switch?to a greener energy sector in its captive power sector.
Russell: Despite Trump's trade moves, the US imports to Asia will drop by 2025.
The U.S. trade policies of President Donald Trump, which include tariffs and increased shipments of crude oil and coal to Asia are expected to lead to a decline in imports this year. The drop in US imports is mostly due to?China.
Japan's JAPEX purchases US tight oil assets and gas assets for $1.3 billion
Japan Petroleum Exploration Co. (JAPEX), which owns tight oil and natural gas assets in the U.S.A., announced on Thursday that it had 'decided' to purchase the entire equity stake?in Verdad Resources Intermediate Holdings LLC (VRIH) for $1.3 billion.
US permits oil sales from Russia’s Sakhalin-2 Project through June 18,
The U.S. extended a waiver on Wednesday that allows oil sales from Russia's Sakhalin-2 Project through June 18, next year. This is a move that will likely allow production of liquefied gas to continue. The general license issued by the U.S. Treasury Department is crucial for U.S.
Wall Street closes lower after AI funding worries drag down tech stocks
Wall Street's major indexes ended lower on Wednesday. The S&P 500, and the tech-heavy Nasdaq fell to new lows in three weeks as persistent concerns about the artificial-intelligence trade weighed down technology stocks. Oracle…