What is the Abraham Accords?
The Abraham Accords which normalised diplomatic ties between Israel and certain Arab states are in the spotlight following Israel's airstrikes against Hamas that took place on 9 September, angering the U.S. ally who hosted ceasefire negotiations. The leaders of Arab and Islamic countries will meet in Qatar for a summit on Monday…
Indonesia's Agrinas plans to add dozens of mills and expand its palm plantations
Agrinas Palma Nusantara, a state-owned firm, received 674,178 acres (1.7 million acres), bringing the total land area given to Agrinas Palma Nusantara to 1.5 million acres (3.7 million acres). Agrinas is now the largest palm oil producer in the world by land area. Agrinas has…
ConocoPhillips will purchase LNG from NextDecade Rio Grande Train 5 Project
ConocoPhillips, a U.S. oil producer and gas exporter, will buy 1.0 million tonnes of liquefied gas per year from NextDecade Rio Grande's Texas export facility for 20 years. NextDecade, also known by the name of a train or its fifth liquefaction plant, will provide superchilled fuel at Rio Grande from their fifth liquefaction unit.
Orsted Gets Go-Ahead for $9.4B Emergency Rights Issue
Offshore wind developer Orsted won shareholder approval on Friday for a $9.4 billion emergency rights issue to help fund U.S. projects thrown into uncertainty by President Donald Trump's opposition to the renewable energy source.The stakes are high for the Danish state-controlled firm…
Conoco CEO: 'I blame myself for not paying attention'
ConocoPhillips' CEO Ryan Lance said to employees on Thursday, that he was forced to reduce the number of workers by up to 25 percent because the U.S. energy producer became less competitive due to its focus on acquiring smaller competitors. Lance spoke to employees at a town-hall meeting…
Wall Street Journal, September 4,
These are the most popular stories from the Wall Street Journal. These stories have not been verified and we cannot vouch their accuracy. ConocoPhillips, a U.S. oil producer and gas company, will reduce its workforce by up to 25% or 3,250 workers as part of an extensive restructuring.
NextDecade's Rio Grande Train 5 Export Facility will supply EQT with LNG
The companies announced on Wednesday that U.S. energy company EQT would purchase 1.5 million tons of liquefied gas per year from NextDecade’s Rio Grande Export Facility in Texas, for a period of 20 years. NextDecade, also known by the name of a train or its fifth liquefaction plant…
ConocoPhillips announces it will reduce its workforce by 20-25%. Shares fall
ConocoPhillips, an American oil and gas company, will reduce its workforce by 20-25% as part of a broader restructuring program. This was confirmed on Wednesday, after five sources said that CEO Ryan Lance had detailed his plans in a short video earlier today. The largest independent oil producer saw its shares fall 3.9%, to about $95.11.
Azule Energy to Invest $5b in Angola
Azule Energy, the joint venture between Italian oil and gas explorer Eni and BP, expects to invest another $5 billion in Angola over the next four to five years, Eni's Chief Operating Officer Guido Brusco told Reuters on Wednesday.The latest investment in both new and existing projects will match investments in oil and gas projects since the j
Nigeria's TotalEnergies deal marks shift to gas development
The Nigerian production-sharing agreement with TotalEnergies will be a model for future agreements, according to the oil regulator. It is the first contract based on a new law aimed at boosting the gas production of the OPEC country. The Petroleum Industry Act of 2021, which recognised the economics of oil exploration and production…
US and Russian officials discussed the latest Ukraine peace talks alongside energy deals
Five sources familiar with these talks claim that U.S. officials and Russian government officials discussed energy deals in parallel to negotiations to achieve peace in Ukraine this month. They said that these deals were presented as incentives for Washington to relax sanctions against Russia and to encourage the Kremlin into peace in Ukraine.
Crescent Energy acquires Vital Energy for $3.1 billion in a shale gas deal
Crescent Energy, a U.S. shale oil producer, announced on Monday that it will acquire Vital Energy for $3.1 billion in stock and debt. The deal shows how some U.S. firms are seeking scale in a period when mergers and purchases in the shale sector slowed down in the second quarter because of volatility in energy and equity markets.
WTO panel supports Indonesia on multiple counts in biodiesel dispute with EU
An official copy of Friday's ruling revealed that a World Trade Organization panel had sided with Indonesia in several important claims made in its complaint against countervailing duty imposed by the European Union for biodiesel imported from the country. In 2023, Indonesia filed…
WTO panel supports Indonesia on multiple counts in biodiesel dispute with EU
An official copy of Friday's ruling revealed that a World Trade Organization panel had backed Indonesia in several key claims made in its complaint about countervailing duty imposed by the European Union against biodiesel imported from the country. In 2023, Indonesia filed a dispute…
US oil and gas M&A tripled in the last year, according to a report
A report released on Monday shows that mergers and acquisitions within the U.S. Oil and Gas sector tripled in 2013 despite lower commodity prices. This was due to energy companies increasing spending to increase efficiency and profits. The sudden increase in dealmaking is a sign…
Prio shares drop as Brazilian oil regulator halts a key unit
Brazilian oil company Prio announced on Monday that the local regulator ANP ordered a production halt for the Peregrino FPSO. The regulator cited the need to improve risk management documentation as well as adjustments to the deluge system of the unit. Shares of the independent oil producer fell as a result.
Angola aims to increase gas production as oil output stagnates despite OPEC's exit
Azule Energy, a company optimistic about Angola's gas potential and having had success with its first gas drilling campaign last month, is now considering another exploration. Angola is expecting gas production to increase by more than 20 percent in the next five year as the country targets increased exports to Europe…
Chevron-Chartered Oil Tankers Return to Venezuela After New US License
At least three vessels that oil major Chevron had used to transport Venezuelan crude to the U.S. were navigating toward the South American country's waters on Thursday, with exports expected to resume later this month following a new U.S. license, according to shipping data and sources.The U.S.
Devon Energy's profit forecast for the second quarter was missed due to low oil prices
The U.S. oil-and-gas producer Devon Energy narrowly missed Wall Street's expectations for the second quarter profit on Tuesday as lower commodity prices offset an increase in production. As a result of the growing demand for natural gas, the company has also announced two new supply agreements.
Enbridge Sees Demand for More Pipeline Capacity from Canada to US Gulf
Canadian pipeline operator Enbridge said on Friday its recent commercial process to gauge oil shippers' interest in an expansion of its Flanagan South pipeline was oversubscribed, indicating strong demand for additional oil transport capacity from Canada to the U.S. Gulf Coast.The…