Author: intent

Oil and gas profits triple under Joe Biden even as industry decries him

Oil & Gas | intent | February 28, 2024 | Comment off

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https://www.ft.com/content/aebdb5ac-7e97-425e-8af3-e086488255c5

Profits for the biggest US oil and gas producers have almost tripled under President Joe Biden, even as the industry berates his administration’s “hostile” policies and warns that a second term would be “disastrous” for the sector. 

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Exxon and Chevron must decide whether they are more enemies than ‘frenemies’

Oil & Gas | intent | February 28, 2024 | Comment off

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https://www.ft.com/content/9110c8e7-288e-4c70-9774-1b02c35656ac

The rivalry between ExxonMobil and Chevron has plumbed a new depth. On Monday, securities filings revealed a hang-up in Chevron’s $60bn stock deal to acquire smaller rival Hess Corporation. Hess’s crown jewel is a stake in the Stabroek deepwater field located off the coast of Guyana. A controlling 45 per cent stake happens to belong to Exxon.

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Anti-oil and gas bill ‘a looming disaster for Colorado’ | PODIUM

Oil & Gas | intent | February 28, 2024 | Comment off

On some level Colorado will always be an attractive place to do business. Our intangibles are nearly unbeatable — the weather, the incredible access to an outdoor lifestyle a healthy and thriving populace — but we’re concerned Colorado could lose some of its competitive edge if it’s perceived to be hostile to business. That’s why we hope the legislature rejects SB24-159, which would direct Colorado to stop issuing oil and gas permits by 2030

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TotalEnergies, Shell, Chevron Intensify Focus on African Oil and Gas Resources

Oil & Gas‚ Oil and Gas Industry | intent | February 28, 2024 | Comment off

Major international oil companies (IOCs) are reaffirming their dedication to the development of African oil and gas resources, signaling positive prospects for service providers, drilling contractors, and the wider industry. During a recent event in Nigeria, top representatives from TotalEnergies, Shell, and Chevron disclosed substantial investment plans, spanning from pioneering exploration endeavors to facilitating gas supply from mature markets. With the Invest in African Energy (IAE) forum scheduled for May in Paris, there exists a prime opportunity for investors to capitalize on this renewed commitment to advancing Africa’s energy sector.

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Oil Rises Ahead of Weekly Inventory Data

Oil & Gas | intent | February 28, 2024 | Comment off

Oil prices continue to trade in a very narrow bandwidth with ICE Brent still hovering around the $83 per barrel mark, with traders anticipating potentially impactful US economy data coming in later this week – first the US personal consumption expenditures readings, followed up by European inflation figures and Chinese PMI developments reflecting the Chinese Lunar New Year.

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