The oil and gas industry is undergoing its biggest-ever consolidation, according to Enverus.
Upstream merger and acquisition activity hit $144 billion in the fourth quarter alone and $190 billion for 2023, both setting records.
Bids from Exxon Mobil, Chevron, and Occidental Petroleum were among the key deals fueling the record.
U.S. commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve (SPR), decreased by 9.2 million barrels from the week ending January 12 to the week ending January 19, according to the U.S. Energy Information Administration’s (EIA) latest weekly petroleum status report.
Oil rose to the highest in about two months as US inventories, Chinese stimulus and an attack on a Russian refinery ignited a rush of trend-following algorithmic buying.
Hot off the heels of another tumultuous and eventful year for the global energy landscape, 2024 is already continuing the trend of disruptions, headwinds, and opportunities, Rystad Energy stated in a release sent to Rigzone on Wednesday.
ADELAIDE, Australia — The Valaris 107 jackup rig has completed drilling the Kupe South 9 development in the Taranaki Basin offshore New Zealand, Beach Energy said in its latest results statement.
Saudis Continue Sending Oil via Tense Red Sea
by Bloomberg|Matthew Martin & Anthony Di Paola|Friday, January 26, 2024
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Saudis Continue Sending Oil via Tense Red Sea
Aramco is bucking threats on Red Sea vessels from Yemen’s Houthi rebels.
Image by sandsun via iStock
Saudi Aramco, the world’s largest oil company, is continuing to send tanker loads of crude and fuels through the southern Red Sea, where Houthi militants have for months been menacing merchant ships in response to Israel’s war in Gaza.
Tullow Oil has issued a statement in advance of the Group’s 2023 Full Year Results scheduled to be announced on 6 March
The latest round of Middle East OSP cuts was inevitable.
Arab Light remains the cheapest grade for any US buyer, assessed at a $5.15 per barrel premium to the Argus Sour crude index.
Iraq has slashed prices across all continents in the same vein that Saudi Aramco did.
Oil prices have gained some upward momentum in the last week, driven by geopolitical tensions and inventory drawdowns.
Analysts continue to debate just how serious the geopolitical risks are and whether spare capacity and new production will be able to counter supply issues.
Seasonal shifts in demand, coupled with anticipated interest rate cuts, look set to push oil prices higher in the near future.
Eni Inks Decarbonization Deals with Kazakh Companies
by Jov Onsat|Rigzone Staff|Monday, January 22, 2024
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Eni Inks Decarbonization Deals with Kazakh Companies
Eni signed three energy transition-related deals with Kazakh firms, including a commitment pact for a planned hybrid-fuel power project.
Image by e-crow via iStock
Eni SPA has signed three energy transition-related agreements with companies in Kazakhstan, including a commitment pact for a planned hybrid-fuel power project.