Carnelian, a buyout firm, raises eyebrows by trying to sell multiple assets in the energy sector.
Carnelian Energy Capital is selling six of its North American oil-and-gas production investments. This comes at a time when private equity firms are under increasing pressure to return more cash to investors and increase their exits. The move, which represents most of Carnelian's oil and gas producing companies…
Bousso: ROI-Permian will retain US oil crown after peaking even though it has reached its peak
The Permian Basin is set to reach its peak oil production in December. This will be a turning point for the U.S. Shale Boom that has reshaped the global energy markets over the last 15 years. But drilling innovations will ensure that the output of America's most prolific patch of oil will remain stable for many years.
Russia expects oil refining in 2025 to be flat with 2024
The Russian energy ministry announced on Thursday that the country's oil refinery, coal and gas?production?will remain largely unchanged in 2025, compared with 2024, despite repeated Ukrainian drone attacks against energy facilities. Russia is the third largest oil producer in the world, after Saudi Arabia and the United States.
Bousso: ROI-Permian will retain US oil crown after peaking even though it has reached its peak
The Permian Basin is set to reach its peak oil production in December. This will be a turning point for the U.S. Shale Boom that has reshaped the global energy markets over the last 15 years. But drilling innovations mean that output in America's largest oil patch will remain stable for many years.
Kazakhstan to Divert Kashagan Oil to China After Ukraine Drone Attack
Kazakhstan said on Wednesday it would redirect some oil from its Kashagan field to China and other routes after a Ukrainian drone attack last month on the Caspian Pipeline Consortium's Black Sea terminal in Russia.The decision was announced by the energy ministry after Reuters…
Exxon predicts increased earnings and oil production by 2030
Tuesday, Exxon Mobil announced that it would target a $25 billion?earnings increase from 2024-2030. The company will also?increase its oil and gas production. Exxon's earnings forecast represents a $5-billion increase over its previous plan. However, Exxon plans to maintain the…
Canada's new oil tycoon is shaking up the sector with a bold expansion plan
Canadian banker-turned-oil-tycoon Adam Waterous, an industry outsider who lives in a Rocky Mountain tourist town, not energy hub Calgary, has a plan to cement his company's status as one of ?North America's fastest-growing oil companies. Waterous wants to expand the company more…
Oil Prices Fall as Iraqi Production is Restored, Ukraine Talks Continue
Oil prices slipped more than $1 on Monday after Iraq restored production at one of its oilfields which accounts for 0.5% of world oil supply, while investors weighed ongoing talks to end the war in Ukraine.Brent crude futures were down $1.07, or 1.68%, at $62.68 a barrel by 11:05 p.m. EDT, while U.S.
Pemex debt should be a red flag to potential partners when Mexico looks to increase oil production
Over a month has passed since Pemex's head made an appeal for partners to assist Mexico's state oil company in boosting production. But national and international companies are still not responding. Pemex has a mountain of debts, ranging from Italian producers such as Eni, to U.S.
Venezuela appeals the sale of Citgo parent by US court
In court filings made on Monday, Venezuelan lawyers said they had filed an appeal before the U.S. Court of Appeals, Third Circuit, challenging a judge's order from last week that authorized the sale of PDV Holding shares. Delaware Judge Leonard Stark approved last week the sale of Citgo Holding…
Documents show that Alberta oil regulators stopped enforcing gas flare limits after government pressure.
Documents seen by have revealed that the regulator responsible for environmental enforcement in Canada’s largest oil-producing province, bowed to pressure from both the provincial government and major oil companies in order to remove a limitation on natural gas flare ups as Canadian oil production increased.
VEGOILS - Palm oil falls for the fourth time in a row, indicating a weakening of Dalian palm oils
Malaysian palm futures fell for the fourth consecutive session on Tuesday. This was due to the weakness of Dalian palm oils, as market participants assessed the flooding situation in Malaysia, the second largest palm oil producer in the world. By midday, the benchmark palm oil…
Malaysia's Sarawak Oil Palms focus on yield improvements amid land cap
Sarawak Oil Palms Berhad, a Malaysian palm oil manufacturer, is focused on maximising the yields of existing plantations. The state struggles with lower productivity than other regions in Malaysia. Sarawak's 1,62 million hectares of oil palm plantations (4 million acres), which account for 29% Malaysia's total palm acreage…
Kazakh Energy Minister: Government not talking to Lukoil on buying local assets
Energy Minister Yerlan Akkenzhenov stated on Monday that the Kazakh government has not held talks with Russian oil giant Lukoil regarding buying its Kazakh assets. The Russian state media reported earlier that the KazMunayGas head, who is the state-owned oil company of Kazakhstan…
Energy Transition' Future: Fractured, Bumpy and Long
As COP30 kicks off its second week in Brazil, much has changed since the landmark Paris climate agreement was penned 10 years ago.The spirit of cooperation that once reigned has been shattered by economic rivalries and a stark divergence in climate policies among the world’s biggest…
Russia's Lukoil talks to potential foreign buyers about its assets
Lukoil, Russia's second largest oil producer, said it was in talks on Friday with potential buyers for its foreign assets after sanctions were imposed by the UK and US last month and a deal made with Gunvor Trading House collapsed. The specific deal would be announced once the…
Norway oil companies raise 2026 investment outlook, survey shows
A survey by the Norwegian Statistics Office of industry participants showed that their estimated investments for 2026 have increased compared to three-month estimates. Norway is the world's second largest oil producer, and after Russia invaded Ukraine in February of 2022 it became Europe's leading natural gas supplier.
Occidental Petroleum exceeds profit forecasts for the quarter on higher production
Occidental Petroleum surpassed Wall Street's expectations for the third quarter profit on Monday as higher production helped U.S. shale oil producer to counter lower oil prices. The U.S. produced more oil and gas in August than ever before, despite Brent crude falling by over…
Oil Prices Rise as US Shutdown Talks Advance, Oversupply Concerns Remain
Oil prices edged higher on Monday as investors assessed moves aimed at ending the U.S. government shutdown while concerns around oversupply in the crude market persisted.Brent crude futures rose 43 cents, or around 0.7%, to $64.06 a barrel by 1409 GMT. U.S. West Texas Intermediate crude was at $60.18 a barrel…
Chevron Investor Day puts the spotlight on post Hess strategy
Portfolio managers will be interested to hear what CEO Mike Wirth has planned to reap the rewards of the Hess purchase and start a new growth phase when Chevron executives, top shareholders and the oil producer gather in New York City for its investor day on Wednesday. Wirth will…