Wednesday, May 29, 2024

Reuters News

Exxon Mobil Continues to Ramp Up LNG Portfolio

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Exxon Mobil is ahead of schedule with its plan to double the size of its liquefied natural gas (LNG) portfolio to 40 million tons per annum (mtpa) by 2030 and will focus on selling its…

X-Press Feeders to Use Green Methanol in Q2 2024

(Photo: X-Press Feeders)

Singapore-based container shipper X-Press Feeders plans to use green methanol bunker to fuel part of its fleet in Europe in the second quarter of 2024, a senior executive said on Tuesday.The…

Occidental Petroleum Jumps into Acquisition Mode

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Occidental Petroleum said on Monday it would buy energy producer CrownRock in a cash-and-stock deal valued at $12 billion including debt, expanding in the lucrative Permian basin.Investors…

Bangladesh Puts to use China-built Crude Oil Offloading Facility

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Bangladesh started in recent days a large crude oil receiving and offloading facility built by China that allows the south Asian oil importer to significantly reduce the cost of shipping in crude oil.The single-point mooring facil

Exxon Secures Lead in top US Oilfield with $60B Buy of Shale Rival Pioneer

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Exxon Mobil agreed to buy U.S. rival Pioneer Natural Resources in an all-stock deal valued at $59.5 billion that would make it the biggest producer in the largest U.S. oilfield and secure a decade of low-cost production.The deal…

Rystad Says Oil Demand is Peaking. Predicts $60 a Barrel by 2027

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Global crude oil prices could drop to about $60 per barrel by 2027 as demand growth slows, say oil analysts at Rystad Energy, chopping a third off next year's peak price as demand tumbles.Their…

Exxon in Advanced Talks for $60B Acquisition of Pioneer - Sources

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Exxon Mobil is in advanced talks to acquire Pioneer Natural Resources in a deal that could value the Permian shale basin producer at about $60 billion, people familiar with the matter said on Thursday.

Shipping Rivals CMA CGM, Maersk to Collaborate on Green Fuels

Laura Maersk - the world’s first-ever container vessel sailing on green methanol was named in Denmark last week -  © A.P. Moller - Maersk. All rights reserved.

Container shipping giants CMA CGM and Maersk said on Tuesday they will cooperate in efforts to reduce emissions in the sector, including by supporting the use of methanol and aiding research into potential fuels like ammonia.

US Energy Firm Payouts to Oil Investors Top Exploration Spending for First Time

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Top U.S. energy companies last year paid out more of their earnings to shareholders than they invested in new oil and gas fields for the first time, according to a report released on Tuesday.The…

Russia Ships Naphtha to China via North Sea Route

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Russia is shipping a naphtha cargo via the North Sea Route (NSR) as Moscow seeks to increase supplies using the route to major trade partner China, cutting its way through European waters…

Siemens Energy Shares Tumble 31% as Wind Turbine Troubles Exposed

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Siemens Energy saw $6.3 billion wiped off its market capitalization on Friday after warning that the impact of quality problems at its Siemens Gamesa wind turbine business would be felt…

Eni, Vaar Agree to Buy Neptune Energy in $4.9 Billion Deal

Neptune Eneergy's Gjøa platform in Norway Credit: Neptune Energy

Italy's Eni ENI.MI and its Norwegian unit Vaar have agreed to buy private-equity backed Neptune Energy in a deal valuing the assets of the gas and oil producer at $4.9 billion including debt…

China Banks "Massive Volume" of Crude in May

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China added to crude oil stockpiles at the fastest rate in nearly three years in May, as robust imports outweighed near-record refinery processing.A total of 1.77 million barrels per day (bpd) was added to inventories in May…

Spain's Energy Firms Look to Central Europe Markets for Green Hydrogen Deals

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Spanish oil company Cepsa signed on Wednesday two agreements aimed at shipping green hydrogen between Spain and the Netherlands, a day after renewable energy giant Iberdrola took a similar…

OMV Petrom Makes Largest Crude Oil Discovery in Decades

Romanian oil and gas group OMV Petrom, majority-controlled by Austria's OMV, said on Tuesday it discovered new crude oil and natural gas deposits equal to about three quarters of its overall…

PetroVietnam Beats Q1 Crude Output Target

Long Tau River, Vietnam - March 12, 2019: Phuoc Khanh area. Blue river tank vessel sails in front of concrete factory and PetroVietnam power
generation plant chimneys in back. 

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Vietnam's state oil firm PetroVietnam said on Monday its crude oil output was 2.6 million tonnes in the first quarter this year, 12.6% higher than its target.The figure, however, is lower…

Valero Seeks US Approval to Import Venezuelan Oil

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Valero Energy Corp, the second-largest U.S. oil refiner, is seeking Washington's permission to import Venezuelan crude, according to four people close to the matter, hoping for a repeat…

Technip Energies Sets Up Green Hydrogen JV, Beats Quarterly Earnings Expectations

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French oil and gas services group Technip Energies on Thursday announced a green hydrogen solutions joint-venture with Belgian group John Cockerill, while reporting stronger-than-expected first-quarter earnings.

Wave of New LNG Export Plants Threatens to Knock Gas Prices

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A flood of liquefied natural gas (LNG) export projects due online worldwide in mid-decade will vie against lower-cost renewable energy and a revived nuclear power sector, which could rock…

Chevron to Buy PDC Energy in $7.6 bln Deal

©PDC Energy (File image)

Chevron Corp said on Monday it would acquire PDC Energy Inc in an all-stock transaction for $7.6 billion, including debt, adding new drilling inventory to its U.S. oil and gas reserves.The…