U.S. President Donald Trump has kicked off his second term with a bang, launching the most systemic and aggressive makeover of the American government. Trump and his allies have moved at lightning speed to force out longtime civil servants by launching a legally suspect buyout program, firing federal prosecutors who worked on criminal cases against Trump, and even attempting to unilaterally shutter the foreign aid agency USAID.
Over the past decade, only one pipeline made it through all the protests. The Trans Mountain Expansion Project, after it was abandoned by Kinder Morgan and purchased by the federal government, tripled the capacity of the original pipeline to 890,000 bpd from 300,000 bpd to carry crude from Alberta’s oil sands to British Columbia.
Trump has repeatedly stated that the energy industry is crucial for the country’s growth and wellbeing, and wasted no time in launching support measures, such as the removal of the Biden administration’s pause on new LNG export terminal approvals and easing red tape around oil and gas exploration and production.
Occidental launched a $4.5 billion-$6 billion divestiture program when it announced its merger with CrownRock LP late 2023. It announced the completion of the $12.4 billion purchase August 1, 2024.
When TotalEnergies and Shell made offshore discoveries there in 2022, the sparsely populated African country aspired to develop its resources quickly before a global energy transition lowers demand for crude. But recent results from offshore fields have brought on a more measured view, and central bank Governor Johannes !Gawaxab says expectations should be dialed back.
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.