Diamondback Energy revealed in the statement that the cash portion of the deal “is expected to be funded through a combination of cash on hand, borrowings under the company’s credit facility, and/or proceeds from term loans and senior notes offerings”.
“I still remember the conversation by phone between three of us: your humble servant, the US President Trump and the King of Saudi Arabia participated,” Putin told reporters on Wednesday in comments broadcast by state TV channel Rossiya 24. “The three of us talked on the phone and discussed the global energy market. Discussing these issues in such format is still in demand today.”
OPEC+ is considering pushing back its planned output increase due in April, potentially the fourth time it has delayed bringing back production. Adding to the prospect of tighter supplies, as much as 30% of oil exports from a major Kazakh pipeline to the Black Sea may be halted after a Ukrainian drone attacked a pumping station in Russia. The Group of Seven also is considering tightening the price cap on Russian crude exports, possibly curbing supplies further.
The company said this month that it now has full ownership of the CPO-09 block in the nation’s oil-rich eastern plains after completing its $452 million acquisition of Repsol SA’s 45 percent stake. That investment’s strategic location near Castilla and Chichimene, among the country’s top five fields, allows the company to benefit from synergies, a top executive said in an interview.
SBM Offshore is developing a compact, modular carbon capture solution designed to significantly reduce emissions from oil and gas production on FPSOs, as part of its emissionZERO program. The study for Petrobras encompasses the design and commercial assessment of diverse carbon capture system configurations for future FPSOs deployed in Petrobras fields, considering varying turbine types and machinery setups, gas flow rates and installed gas turbine power, and CO2 concentrations and gas compositions, SBM Offshore said.
Unioil chief executive Janice Co Roxas-Chua said separately, “We are confident that this [the partnership with Aramco] will equip ourselves in accelerating our growth and development, further innovate, and strengthen our position as a leader in the wholesale and retail fuels market”.
In a letter addressed to the Managing Director of VRA on Tuesday, February 18th, 2025, sighted by myjoyonline.com, the company stated that effective March 6th, 2025, it would cease further gas deliveries in accordance with Clause 13.6(a) of the Takoradi Gas Sales Agreement.
The Macquarie strategists highlighted in the report that, last week, the EIA “reported builds in commercial crude (+4.1 million barrels) and at Cushing (+0.9 million barrels), with mixed product stats (gasoline -3.0 million barrels, distillate +0.1 million barrels, jet +0.9 million barrels)”.
It would be the fourth time the Saudi Arabia-led producer group has delayed plans to revive output. That’s eased worries about a supply surplus developing this year. The International Energy Agency is calling for an overhang of 450,000 barrels a day and, in the US, inventories are sitting at a three-month high while one measure of market tightness is flashing signs of oversupply.
TotalEnergies SE and Air Liquide SA plan a €600 million ($628 million) joint venture to produce green hydrogen for the French oil giant’s refinery in the Netherlands, along with a supply deal for its petrochemical plant in Belgium.