SEC filing reveals that Venture Global is making money on LNG exports from Plaquemines plant
Venture Global has exported more LNG cargoes out of its Plaquemines facility in Louisiana, and it earned twice as much in fees as its other U.S. location. According to the SEC filing, the LNG company exported 51 cargoes of LNG from Plaquemines for a liquefaction charge of $7.09 million British thermal units per quarter (mmBtu).
Chevron prepares for a quick closure of the Hess deal while awaiting the outcome of Exxon's dispute
According to two industry analysts and sources, Chevron has begun preparing for the acquisition of Hess. This includes a severance package for certain Hess employees. Both companies are preparing for a possible legal challenge by Exxon Mobil, which could make or break a $53 billion deal.
Ecopetrol, a Colombian company, buys a wind energy project from Enel at $50 million
Ecopetrol, the state-owned oil company of Colombia, announced on Monday that it had purchased from Enel a wind energy project in La Guajira province (northern Colombia) for $50 million. Ecopetrol Group said that the Windpeshi project, which has a capacity to produce 205 megawatts of energy for self-consumption, will be included in its portfolio.
Even as money flows in, tariffs and geopolitics are dragging down European IPOs
Advisors say that the Middle East and tariffs are scaring investors and European companies, even though volatility has subsided and money is flowing back into equity markets. The global economy was shook by President Donald Trump's April announcement of tariffs on imports from almost all U.S. partners and his subsequent U turn pause.
Simons is elected as the first female president of Suriname by the Suriname Parliament
Suriname's Parliament backed Jennifer Simons, the country's first female president, on Sunday. This comes six weeks after both the former ruling party's and the top opposition's legislative seats were nearly equalled. The National Democratic Party, led by Simons, won 18 seats. Chan Santokhi’s Progressive Reform Party…
Even as money flows in, tariffs and geopolitics are dragging down European IPOs
Advisors say that the Middle East and tariffs are scaring investors and European companies who are considering their initial public offering, even though volatility has subsided and money is flowing back into equity markets. The global economy was shocked by President Donald Trump’s April announcement of tariffs on imports from almost all U.S.
Sources say that arbitrators have made a decision in the Exxon-Hess dispute regarding Chevron's deal.
According to two sources with knowledge of the dispute, arbitrators have made a decision regarding a major oilfield in Guyana. Chevron's acquisition of Hess for $53 billion will be determined by the ruling. The Paris International Chamber of Commerce overseeing the arbitration is reviewing the decision now before it is made available to the parties.
Andy Home: Metal smelting will be the next major mineral crisis for the West.
The impact of China’s export controls on rare earths has already caused global supply chains to reel, but a more critical mineral threat is imminent. Western metal smelters face a crisis. China's rapid expansion in processing capacity is reducing margins for all metals. Recently, copper smelters…
Baker Hughes reports that US drillers have cut oil and natural gas rigs in the US for the 10th consecutive week.
Baker Hughes, a leading energy services company, said that the U.S. firms have cut back on the number of oil rigs and natural gas wells for a tenth consecutive week for the first since July 2020. The number of oil and gas drilling rigs, a good indicator of future production, dropped by eight in the week ending July 3 to 539…
Venture Global signs 20-year LNG contract with Petronas
Venture Global Inc, a U.S. LNG exporter, announced Thursday that Petronas had agreed to purchase 1 million metric tonnes of LNG from the CP2 Project. This is its first new CP2 client in two years. Venture Global, a startup just three years ago has grown to be the second largest LNG producer…
Exxon returns Stabroek land to Guyana: Government
The Ministry of Natural Resources announced on Wednesday that an Exxon Mobil led oil consortium had returned 2,534 sq km of the Stabroek Block to the Guyana government. This relinquishment was part of an obligation for Exxon in order to begin the final exploration phase of the Stabroek Block.
Andy Home: Metal smelting will be the next major mineral crisis for the West.
The impact of China’s export controls on rare earths has already caused global supply chains to reel, but a greater threat from critical minerals is imminent. Western metal smelters face a crisis. China's rapid expansion in processing capacity is reducing margins for all metals. Recently…
Sources say ADNOC will restore most Murban oil to equity holders by July.
Multiple trade sources reported on Thursday that Abu Dhabi National Oil Company has restored the majority of Murban crude oil supplies going to equity holders for July, after a drastic cut in June. Traders said that partners in Murban crude producer ADNOC Onshore include BP TotalEnergies…
Maurel et Prom, a French company, has acquired a stake in Colombia's Sinu-9 Gas Field
Maurel et Prom, a French oil and natural gas company, has agreed to increase its ownership stake of Colombia's Sinu-9 field by 21%, for a total cost of $79 million. This is part of its ongoing expansion in Colombia. Maurel et Prom now owns 61% of the total gas block. The remainder is owned by Canada's NG Energy International.
State news agency reports that Saudi Arabia and Indonesia have signed several deals valued at around $27 billion.
Saudi Arabia and Indonesia have signed deals and memorandums worth $27 billion in the private sector, including in clean energy and petrochemicals. This was reported by Saudi state news agency SPA on Wednesday. On Wednesday, Indonesian President Prabowo Subito met with Saudi Crown Prince Mohammed bin Salman.
Protesters block the copper route in Peru used by large mines
Leaders of the protest and a source in the industry said that a protest by informal miner's in Peru has blocked parts of an important copper corridor used by MMG, Glencore, and Hudbay. Luis Huaman said that the demonstrators who blocked the road in the Chumbivilcas Province of Cusco are pressing…
Dallas Fed survey: Oil and gas activity decreased in Q2 due to higher US steel tariffs
The Dallas Fed survey released on Wednesday showed that activity in the U.S. Oil and Gas sector in Texas and Louisiana, and New Mexico, decreased slightly in the second half of 2025. This was due to the increase in steel tariffs. The drop in activity comes after U.S. president Donald Trump, who encouraged U.S.
UK stock prices fall amid concerns about state finances following costly U-turns
British stocks dropped on Wednesday as part of a larger selloff of UK assets amid growing concerns about public finances. This was after Finance Minister Rachel Reeves, who appeared in tears before parliament, made a series costly U-turns regarding welfare reforms. The blue-chip FTSE 100 lost 0.1%…
Engie buys DNO's Norwegian gas production for four years
The Norwegian company DNO announced on Wednesday that it had sold all of its gas production from the Norwegian continental shelf over a period of four years to French utility Engie at an undisclosed price. The deal was facilitated by an American bank loan, as U.S. banks are increasing funding for the fossil fuel sector.
Max Financial, India reports cyber-threat at unit
India's Max Financial Services announced on Wednesday that Axis Max Life Insurance received information about an unauthorized access of some customer data. The communication came from an anonymous sender. Max Financial announced that the company had begun a data log and security assessment.
Germany supports cross-border gas deal with Netherlands
The German cabinet backed a deal on Wednesday with the Netherlands that would support the extraction of gas from a reservoir located in the North Sea. Berlin is looking to increase its domestic gas production. After the Ukraine conflict and Germany's decision not to import Russian gas, the government is now focusing on alternative solutions…
Engie buys DNO's Norwegian gas production for four years
DNO sold all of its gas production from the Norwegian continental shelf over a period of four years to French utility Engie, for an undisclosed amount. It said that a U.S. loan facilitated the deal, as U.S. banks increase funding for the fossil fuel sector. The company also stated that it…
RPT-Pakistan is looking to sell surplus LNG in the face of a glut in supply that has slowed down local gas production - Document
According to a presentation by a government official who is familiar with the issue, Pakistan is looking for ways to sell surplus liquefied gas (LNG). This could result in losses of $378 million per year to domestic producers. A second official confirmed that the country imports LNG from Qatar, but has a surplus of at least three cargoes.
Q&A: Is Venezuela on the verge of losing its prized foreign asset, Citgo?
After at least three consortia revised their bids in June and a U.S. Court completed the second round of bidding in an auction of shares of Citgo Petroleum, owned by Venezuela, creditors are hopeful that they will receive payment for some outstanding Venezuelan debt. The auction of the seventh largest U.S.
Document: Pakistan wants to sell its excess LNG due to a glut of supply that is reducing local gas production.
According to a government official and a presentation, Pakistan is looking for ways to sell surplus liquefied gas (LNG). This could result in losses of $378 million per year to domestic producers. A second official confirmed that the country imports LNG from Qatar, but has three cargoes left over.
Algerian court upholds five-year jail term for French-Algerian writer
Ennahar TV reported that an Algerian court confirmed on Tuesday the five-year sentence Boualem Sansal is serving for undermining nation unity. France has called for clemency. Sansal was 80 years old and lived in France. He was arrested in Algeria while on a visit in November. In March, he…
Indonesia is looking for new technologies to improve oil drilling
Officials said that Indonesia issued a new regulation on Tuesday to encourage investment by oil drilling technology providers to increase production at existing wells. Yuliot Tajung, the deputy energy minister, told reporters that this policy aims to reactivate idle wells as part of an effort…
Equinor and partners approve $1.3 Billion Johan Sverdrup Oilfield Expansion
Equinor, a Norwegian oil company, and its partners approved an investment of 13 billion Norwegian crowns ($1.29 billion), for the expansion at Johan Sverdrup. This is the largest oilfield in western Europe. Equinor's partner Aker BP and Equinor said separately that the project will increase…
Guyana invites companies to apply for NGL facilities
According to an announcement published on Sunday by the South American Government, Guyana is seeking a company that will build a facility to produce natural gas liquids as part of its efforts to monetize offshore gas reserves. Storage and offloading facilities would receive liquids at a rate of 4…
Investors assess US-Canada Trade Talks and TSX increases
Investors assessed the revival in trade talks between Washington & Ottawa. The S&P/TSX Composite index rose 0.2% to 26733.42 point, logging its fourth consecutive quarter of positive growth. Donald Trump called off Friday's trade talks over Canada’s digital services tax that targets U.S. tech firms. He described it as a "blatant" attack.
CMOC IXM declares Force Majeure on Cobalt Deliveries from Congo
IXM, a commodity trader owned by China's CMOC Group has declared force majeure for deliveries of cobalt from the Democratic Republic of Congo, after the country extended the ban on exports of battery material. In February, the Congo suspended all cobalt exports for four months to reduce oversupply…
Lindsey Oil Refinery, UK insolvency proceedings
The government's insolvency services announced on Monday that Britain's Lindsey refinery had begun insolvency procedures, raising the possibility of it closing weeks after Grangemouth stopped processing oil. According to the U.S. Energy Information Administration (EIA), Lindsey, one of Britain's six remaining oil refineries…
In administration is the parent company of Prax, which owns UK's Lindsey refinery.
Teneo Management Consulting said that State Oil Limited (parent company of Lindsey Oil Refinery) has been placed under administration and insolvency proceedings by the British High Court. State Oil is owned by Prax Group, which also owns the Lindsey Refinery. Teneo announced on Monday that it has been appointed administrator of State Oil.
Baker Hughes reports that the US oil/gas rig counts fell for a fourth month, to a low of Oct 2021.
Baker Hughes, a leading energy services company, said that the U.S. has cut its number of operating oil and gas rigs for the fourth consecutive month to the lowest level since October 2021. The number of oil and gas drilling rigs, a good indicator of future production, dropped by seven in the week ending June 27.
US energy company EQT settles lawsuit for $167.5 Million
According to a filing made by plaintiffs in federal court on Thursday, U.S. Energy Company EQT has agreed to pay $167.5 Million to settle a lawsuit brought by investors who alleged that EQT had overstated its benefits from its $6.7 Billion merger with Rice Energy. Officials from EQT did not respond to a request for comment immediately.
Baker Hughes reports that US oil/gas rig counts have fallen for the 4th consecutive month, to a low of Oct 2021.
Baker Hughes, a leading energy services company, said that the U.S. has cut its number of operating oil and gas rigs for the fourth consecutive month to the lowest level since October 2021. The number of oil and gas drilling rigs, a good indicator of future production, dropped by seven in the week ending June 27.
Sources say that OPEC+ is set to increase oil production again in August.
Four delegates from OPEC+ said that the world's largest oil producer group, OPEC+ is planning to announce a production increase of 411,000 barrels a day for August in order to regain market shares. If the agreement is reached, the increase in supply by OPEC+ would be 1.78 million bpd, which is equivalent to more than 1.5% of the global demand.
Sierra Leone is West Africa's new oil and gas frontier
A senior government official announced on Thursday that Sierra Leone would wait to see the results of its recently launched offshore 3D seismic study, its first for over a decade. This will allow it to open its next round of oil and gas licenses later this year. GeoPartners, in partnership with the petroleum directorate of the government…
Shell announces it will not be buying BP and UK rules prohibit bids for six months
Shell denied that it had bid for BP or was actively considering it in a categorical statement on Thursday. It added that it was bound to UK rules, which means such a declaration would prevent it from bidding for BP within the next six-month period. The Wall Street Journal cited on Wednesday sources claiming that Shell was in negotiations to acquire BP.
Shell announces it will not be buying BP and UK rules prohibit bids for six months
Shell said that it has not made a bid to buy BP, and it is not considering it. It added that it was bound by UK regulation, which means such a statement would prevent it from making a BP bid in the next six-months. The Wall Street Journal cited on Wednesday sources claiming that Shell is in talks to buy BP.
US to sell Gulf of Mexico oil and Gas Leases in December
According to the U.S. Bureau of Ocean Energy Management, the Trump administration proposes to sell oil and gas drilling on 80 million acres of the Gulf of Mexico by December 10. Donald Trump has changed the name of the Gulf of Mexico to the Gulf of America. This sale is the first in a five-year drilling program…
Shell is in early discussions to purchase rival BP. WSJ reports
The Wall Street Journal reported Wednesday that Shell has begun early discussions to purchase rival BP. This was based on the testimony of people who are familiar with the situation. Shell's American shares depository were down 3.3% as of 1604 GMT. BP's American shares depository were up 6.5%.
Egypt's EGAS awards six blocks to international companies in the Mediterranean, Nile delta and N. Sinai
According to a statement released by the petroleum ministry on Wednesday, Egypt's EGAS awarded four blocks to international companies in the Mediterranean Sea, one in Nile Delta, and one in North Sinai. During the exploration period, companies will invest $245 million in order to drill at minimum 13 new exploratory holes.
Israel's Leviathan Gas Field to Restart Operations After Shutdown During Iran Conflict
Israel's NewMed announced on Wednesday that the Leviathan gas field, which supplies gas to Egypt, Jordan and the Middle East, was shut down almost two weeks ago because of the Iran-Israel war, but would be reopened in a few hours. Since June 13, two of Israel's three natural gas fields, Leviathan operated by Chevron and Karish owned by Energean…
Japan protests new Chinese structures in East China Sea
The Japanese Foreign Ministry said that China had begun building a new structure between China and Japan, in the disputed East China Sea. It also added that it had lodged a formal protest with China. In a press release, the ministry stated that "it is regrettable" for China to continue with…
Coterra Energy maintains Permian rig counts as fears about the oil market ease
Coterra Energy, an oil and gas company in the United States, will keep its Permian basin rig count at nine, said CEO Tom Jorden on Tuesday. This reverses earlier plans to reduce activity, as the firm becomes more confident about the outlook of oil prices. Coterra announced in May that it…
The government reports that Guyana's oil production rose to 667, 000 bpd during May.
In a government bulletin, published on Tuesday, Guyana's oil production rose from 611,000 barrels per day to 667,000 bpd by May, thanks to increases at Exxon Mobil's two facilities. Exxon, U.S. Hess, and China's CNOOC, which control all oil and natural gas output in South America, are expected to increase production beyond 900…
North Dakota drilling and fracking activity stable as prices fluctuate, state regulator states
In a Tuesday monthly briefing, the state regulator revealed that despite recent volatility in oil prices, the number of frac crews and rigs in North Dakota remained unchanged in June. There are 32 rigs and 13 frac crews currently operating in North Dakota. Baker Hughes, an energy services company, said that the U.S.
Japan protests new Chinese structures in East China Sea
The Chinese government has begun the construction of a new structure in the East China Sea on the western side of the geographic equidistance of Japan and China, according to the Japanese Foreign Ministry. It also said that it had lodged a formal protest with China. In a press release, the…
China doubles 2025 naphtha import quotas, sources say
Six trade sources reported that China issued a second set of import quotas for 2025, which nearly doubled the allocations last year, due to a rise in demand caused by disruptions of U.S. propane and ethane supplies, as well as new cracker startup companies. A source with knowledge of the…
BP and other oil companies pulling staff out of Iraqi oilfields; output remains steady
BP, Eni, and TotalEnergies began evacuating their foreign personnel from the Iraqi oilfields in which they operate on Monday, according to state-run Basra Oil Company. Two oil officials said that the output from Iraq's south oilfields is currently unchanged, with exports of 3.32 million barrels each day. These measures are in response to the U.S.
Russia is ready to provide LNG to Mexico
The Russian Embassy in Mexico announced on Saturday that it was ready to share its energy technologies and supply Mexico with liquefied gas. "We already work with Mexico." "We have excellent LNG technology, and we're ready to share this technology and supply LNG too," Russian Energy minister Sergei Tsivilev stated.
Congo extends its cobalt export prohibition by three months
A regulatory agency announced on Saturday that the Democratic Republic of Congo had extended its ban on cobalt exports by another three months to reduce oversupply of this material for electric vehicle batteries. In February, the world's largest cobalt exporter suspended exports for four months after prices fell to a nine-year-low of $10 per pound.
EnQuest CEO: EnQuest will finalise its $84 million Vietnam oilfield purchase soon
Amjad Bseisu, CEO of UK-based EnQuest, said that the company expects to acquire Harbour Energy's Vietnam business within the next two months and will drill new wells in order to increase production. The North Sea-focused firm's expansion beyond its home market is part of this $84 million purchase.
Norway Oil Drilling Workers agree wage agreement, averting a strike
Norwegian unions reached a wage agreement, which prevented a strike on floating offshore drilling rigs, which would have disrupted exploration. Unions and company representatives announced the agreement Friday evening. The unions said 438 workers from three rigs would strike if talks did not succeed…
The US rushes to lock in the soaring price of oil as US producers rush for new records
The surprise attack by Israel on Iran last weekend sent oil prices surging, which caused U.S. producers to scramble to lock in this price increase. This led them into record volumes of hedging that will shield them from future swings. West Texas Intermediate crude oil futures have continued to rise this week and closed on Friday around $75 per barrel. U.S.
Baker Hughes reports that US drillers have cut their oil and gas rigs in the US for eight weeks running.
Baker Hughes, a leading energy services company, said that the U.S. firms have cut back on the number of natural gas and oil rigs for the eighth consecutive week for the first since September 2023. The number of oil and gas drilling rigs, a good indicator of future production, dropped by one in the week ending June 20 to 554.
JERA and Woodside Energy reach agreement on winter supply during the winter months
The companies announced on Friday that Japan's largest power generator, JERA and Australia's Woodside Energy, have signed an agreement for Woodside Energy to supply JERA only with liquefied gas during the winter. The Heads of Agreement were signed in Tokyo at the LNG Producer-Consumer Conference.
Glencore asks government for help after claiming that the copper smelter in Australia is unviable
Glencore said that its Mount Isa copper-smelter is unviable, and it's waiting for the response to its requests from the state and federal governments in order to keep this facility open despite tough global conditions. The UK-listed company has been alarming local media regarding its Mount…
Gazprom says that the US and Chinese purchases of strategic reserves may offset Russia's oil surplus.
The head of Russian oil producer Gazprom said that the U.S., China and other countries' purchases of strategic oil reserves will offset any global surplus to keep oil prices in check. The eight members, who are OPEC+ and include Russia and other producers, have decided to increase production for the months of April, July and August.
Strathcona backs MEG's alternative strategic process after C$6 billion rejected bid
Strathcona, a Canadian oil and natural gas producer, said it supported MEG Energy’s decision on Friday to explore strategic alternatives and initiate a strategic alternative process after MEG Energy urged its shareholders to reject Strathcona’s hostile takeover offer of C$6 billion (US$4.38 billion).
Andy Home: Copper smelters face both a market and pricing crisis.
Copper smelters have become so desperate for raw materials that they pay miners to convert their concentrates into refined copper. The so-called treatment-and-refining-charges (TCRC) are supposed to be a major revenue source for copper smelters, but the spot charges have been in the negative since the beginning of the year.
TotalEnergies plan to restart LNG project is a positive for the energy minister of Mozambique
Mozambique’s energy minister stated on Friday that the government had not received a formal request from TotalEnergies for the lifting of a declaration of force majeure on the $20 billion liquefied gas (LNG), project in the country. However, he was optimistic about TotalEnergies' plan to restart its development during the summer.
Israel resumes limited gas exports despite ongoing conflict; Egypt still waiting
Israel resumed exports of natural gas from its surplus, according to the Energy Ministry on Thursday. This comes nearly a full week after Israel and Iran engaged in an aerial battle. According to a source in the energy ministry, most of the gas exported is flowing into Jordan and "tiny quantities" have reached Egypt only this week.
UK Issues Environmental Guidance on New North Sea Oil and Gas Drilling
The UK published long-awaited guidance on environmental issues that will impact future developments of two North Sea oil and natural gas fields, including Shell and Equinor. The guidelines explain how future government decisions on extraction should treat greenhouse gas emissions from oil and gas, also known as downstream emissions or Scope 3.
UK releases environmental guidance that will impact North Sea drilling
The UK published environmental guidelines on Thursday, which will impact future developments of two North Sea oil and natural gas fields. Shell and Equinor are among the companies that are expected to benefit. The guidelines outlines how future government decisions on extraction should treat greenhouse gas emissions from oil and gas…
Saudi Energy Minister on Iranian oil loss: We only react to reality
Saudi Energy Minister Prince Abdulaziz bin Salman said that Saudi Arabia will only "react to reality" when asked on Thursday if it and Russia would replace any possible loss of Iranian crude oil. Speaking at an economic conference in St Petersburg the prince added that OPEC+ was a reliable organization that was attentive when circumstances prevailed.
Dmitriev, a Russian diplomat, says that Saudi Arabia, the US and Russia could work together to stabilize oil markets
Kirill Dmitriev, Russia's Investment Envoy, said that the United States, Saudi Arabia, and Russia could work together to stabilize oil markets, if necessary. Investors were frightened by fears that a wider conflict in the Middle East could disrupt crude supply. Dmitriev said that there is precedent for a similar joint action to be taken in 2020.
INSIGHT-Oklahoma! How America hopes it can compete with China on critical minerals
A two-story warehouse nestled under Oklahoma's Wichita Mountains contains the only machine capable of refining Nickel, an important energy transition metal that is now dominated by China. The facility, which is owned by Westwin Elements a startup, hopes to make Oklahoma the epicenter of critical minerals processing in the United States…
Statkraft, Norway to reduce costs by $292 million and may layoffs
Statkraft, the Norwegian state-owned utility, announced on Wednesday that it will reduce its annual costs of around 15%, or 2.9 billion crowns (US$292 million), by 2027. Statkraft cited increased global uncertainty as well as higher expenses and lower electricity prices. After reducing its hydrogen ambitions last year…
Rural Oklahoma aims to become a hub of critical minerals processing in the United States
A two-story warehouse nestled under Oklahoma's Wichita Mountains contains the only machine capable of refining Nickel, an important energy transition metal that is now dominated by China. The facility, which is owned by Westwin Elements, hopes to make Oklahoma the epicenter of critical minerals processing in the United States…
Energy companies race to Southeast Asia for gas to meet AI power demand
Energy companies are investing in gas exploration and production to meet the rising demand for power from a growing population and the proliferation of data centers in this region. As countries pursue different paths of energy transition, European majors are pivoting back to conventional fuels that are more profitable.
Trump Administration moves to expand oil leasing in Alaska reserve
The Trump administration proposed opening 82% of Alaska's 23-million-acre (9.3-million-hectare) National Petroleum Reserve for oil and gas leasing, a move that would reverse Biden-era efforts to limit drilling in the area, the Interior Department said on Tuesday. The move is in line with President Donald Trump’s energy dominance plan…
Senate bill increases value of tax credits to use CO2 captured to produce more oil
The U.S. Senate committee proposed that the tax credit to capture carbon emissions when recovering oil be equal to the tax credit of $85/metric tonne for permanently burying these emissions underground. This would be a boon to oil and gas producers. In its draft bill, the finance committee…
Staatsolie, Petronas sign production-sharing contract for deepwater block in Suriname
Staatsolie, the state energy company of Suriname, and an affiliate from Malaysia's Petronas signed a contract on Tuesday for a production sharing agreement to explore and develop an offshore oil-and-gas block. Suriname will soon begin producing offshore natural gas and crude oil after companies…
Analysts say that the Vaca Muerta shale is a major factor in Argentina's move towards energy independence.
Rystad Energy analysts stated on Tuesday that the shale gas formation of Vaca Muerta in Argentina will produce a large amount of oil and gas by the first quarter 2025, which is driving the nation to achieve energy independence and its ambitious plans to become a major exporter for liquefied gas.
Exxon, Chevron acquires blocks in Brazil's environmentally-sensitive Foz do Amazonas basin
Exxon Mobil and Chevron on Tuesday took their first steps toward eventually exploring oil in Brazil's Foz do Amazonas basin, scooping up offshore blocks auctioned by the country in the promising but environmentally-sensitive area. This is the first time that a company other than Brazil's Petrobras has ventured into the biodiverse ecological area.
Suppliers threaten shutdown in July due to Pemex payment problems
The Mexican association of major oil service companies has warned it is experiencing an "unprecedented" crisis due to the non-payment by the state-owned Pemex. Pemex is the most indebted oil company in the world. The association, in a letter to President Claudia Sheinbaum that was released…
ADNOC, the UAE's oil company, boosts US investment and says AI is a once in a lifetime opportunity to invest.
ADNOC Chief Sultan al-Jaber stated on Tuesday that the state oil company in the United Arab Emirates aims to increase its U.S. investments by six-fold, to $440 billion over the next ten years. Jaber, speaking at an event in Washington, told the audience that AI was a rare investment opportunity.
Conflict affects Iranian and Israeli energy sites
The military strikes between Iran & Israel have raised concerns about possible damage to oil and gas infrastructure and fields in the region. Here are some details on these sites, and how they have affected them so far. Israel attacked an installation in the South Pars offshore field where Iran had partially suspended production on June 14.
