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Guyana's tax agency will begin dispute resolution with Exxon regarding expenses
The Natural Resources Ministry of Guyana has instructed the country's Tax Agency to start a dispute resolution process with Exxon Mobil regarding the recovery from the U.S. Oil Major, about $214 million worth of expenses. Exxon's expenses as part of operations on the Stabroek block…
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Israeli Firm Gets Final Permit for US Wave Energy Demo
Eco Wave Power, an onshore wave energy technology company, has received a final permit for the construction and demonstration of its wave energy technology in San Pedro, California.The Revocable Permit 25-05 by the Port of Los Angeles was executed on behalf of the Executive Director, Eugene D.
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Global Wind Capacity in 2024 Falls Short Despite Reaching a Record
A record 117 gigawatts of wind power capacity was installed worldwide last year, slightly more than in 2023, but far less than needed to achieve goals to decarbonise energy, a report by the Global Wind Energy Council said on Wednesday.WHY IT'S IMPORTANTThe world needs to shift to renewable sources…
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Britain Emphasizes Collaboration on Energy Security at Global Summit
Britain urged closer international cooperation to improve energy security on Thursday, telling dozens of other governments and business leaders that they would otherwise be vulnerable to those who were willing to weaponise supplies.Security of energy supply shot up the agenda of countries…
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EDP Renovaveis Expects Core Recurring Profit in 2025
EDP Renovaveis, the world's fourth largest wind energy producer, said on Thursday it expects core recurring profit to grow 13% in 2025 on the back of a solid operational performance, despite a 24% drop in net income in the first quarter.The renewables arm of Portugal's EDP said earlier…
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Documents and sources indicate that Mexico's Pemex intends to reopen its wells in order to boost production.
According to four sources and two documents, the Mexican energy company Pemex is planning to reopen some old wells to increase production.
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Texas oil drilling applications at 4-year low as producers consider OPEC+ increase, trade war
Enverus, a consultancy, said that oil and gas drilling permits in Texas, which is the leading U.S. state for oil production…
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The major Gulf markets are mixed in their earnings with a focus on US-China discussions
The major Gulf stock markets were mixed early on Thursday, as investors awaited this weekend's U.S. China trade negotiations. Donald Trump, the U.S.
Latest news
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Harbour Energy raises the lower end of its annual production range
Harbour Energy, a North Sea-based oil and gas company, raised its lower range of production guidance on Thursday after reporting…
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Woodside, Australia's largest coal company, faces protests and investor anger at its annual meeting
On Thursday, climate change activists shouted and blew whistles as they disrupted the annual general meeting of Australian…
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Texas Pacific Land misses its core profit forecast for the first quarter due to lower oil prices
Texas Pacific Land, a land and royalty company focused on the Permian region, missed Wall Street's expectations for its first…
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Agency says there are undiscovered oil and natural gas reserves in the US Gulf Coast.
The U.S. Geological Survey released a report on Wednesday that outlined the potential for undiscovered oil in two formations beneath much of the U.S.
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Ancap will launch a natural hydrogen bid round in Uruguay by the end of this year, say executives
Ancap, the state-run energy company in Uruguay, plans to start a bid round by the end this year for the exploration and development…
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Ecopetrol, Colombia's oil company, plans to cut costs as the price of crude drops
Ecopetrol, Colombia's state-owned oil company, plans to reduce costs by 232 million pesos (about 1 trillion pesos) and show…
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Harbour Energy will cut its UK workforce by 25 percent, the company claims
In a Wednesday statement, Harbour Energy announced that it would be cutting 250 jobs at its UK-based unit in Aberdeen. This…
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Romania: OMV Petrom signs a three-year gas supply contract with Moldova
Romanian oil-and-gas group OMV Petrom signed a contract for three years to deliver gas to Moldova from the Black Sea offshore Neptun Deep project…
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Aker BP will raise dividends as long as oil remains above $40 per barrel
Aker BP will increase its dividend annually by 5% if North Sea oil prices remain above $40 per barrel. The company announced this on Wednesday…
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Exxon to invest $1.5 billion in Nigerian oilfield
ExxonMobil, the world's largest oil company, will invest $1.5 billion in the development of deepwater operations for Nigerian oil companies.
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Ecopetrol Colombia reports a 22% drop in profit for the first quarter
Ecopetrol, Colombia's largest state-owned oil company, reported a 22% drop in net profits for the first quarter. The amount…
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Norway Parliament orders restart of frontier oil and Gas Exploration Licensing
The Norwegian Parliament on Tuesday directed the Labour Minority Government to launch a round of new oil and gas exploration…
Exploration
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Devon Energy's production increases help it beat the fourth-quarter profit forecast
Devon Energy, a Devon Oil subsidiary, beat the analysts' estimates for its fourth-quarter profits on Tuesday as higher production offset lower prices.
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Occidental divests some upstream assets worth $1.2 billion
Occidental Petroleum announced on Tuesday it had signed two deals to sell some upstream assets for a combined $1.2 billion to unidentified buyers.
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Venture Global rises after brokerages begin coverage with bullish rating
Venture Global shares reached a weekly peak on February 18th, after several brokerages began coverage of the company with…
Drilling
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Italy's Saipem and Norway's Subsea 7, to create a leader in energy services
Saipem, an Italian company, has agreed to merge its Norwegian competitor Subsea 7 into a global leader in offshore energy services.
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BP abandons renewables targets and returns focus to fossil fuels
BP's CEO will abandon a goal to double renewable energy generation by 2030 and return the focus to fossil energies as part…
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German antitrust watchdog flags price issues in the oil market
The German antitrust authority said on Wednesday that an examination of Germany's oil markets showed pricing issues. It called…
Production
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Equinor Norway LNG plant will be off-line March 10-14
According to a Friday regulatory filing, Equinor will shut down its Hammerfest LNG Terminal from March 10 through March 14…
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ExxonMobil’s Esso, Mitsui and Woodside to Invest $200M in Gas Project Off Australia
ExxonMobil’s Australian subsidiary Esso Australia Resources and its partners have announced a nearly $200 million investment…
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Exxon to build large-scale gas projects in Guyana, a country dominated by oil
Exxon Mobil, the U.S. oil giant, announced a massive project on Wednesday to increase natural-gas production and supply in Guyana.
