The Competition Tribunal has approved the proposed acquisition of petrol station brand Engen by independent energy marketing and trading company Vitol Emerald, subject to a set of competition and public interest conditions.
Crude oil prices ticked higher today after the U.S. Energy Information Administration reported an estimated decline of 6.4 million barrels in inventories for the week to April 19.
The size of the U.S. oil and gas deals has hit a record $51 billion during the first quarter of 2024, data provider Enverus said.
Reuters: This month, Russia is expected to pocket $14 billion from oil & gas.
Russia’s oil and gas revenues slumped by 23.9% last year compared to 2022.
Reuters estimates that Russia’s revenues from oil and gas for 2024 would be 30% higher compared to 2023.
The US Bureau of Ocean Energy Management (BOEM) and the Bureau of Safety and Environmental Enforcement (BSEE) have finalized updated regulations for renewable energy development on the US Outer Continental Shelf (OCS).
With no major outbreak in fighting in the Middle East, investors seem less concerned about any impact on the flow of oil out of the region. As a result, prices fell in Wednesday’s trading.
At the same time, crude inventories across the U.S. tumbled and it stopped a further fall in oil prices.
Eni SPA is combining its upstream oil and gas business in the United Kingdom with Ithaca Energy PLC, in a transaction expected to potentially give the Italian energy major a leading position in the UK continental shelf (UKCS).
UK-headquartered oil and gas company Trident Energy has expanded its footprint on Africa’s oil and gas scene by inking strategic agreements with two oil majors, the U.S.-based Chevron and France’s TotalEnergies, which enable it to get its hands on offshore acreage in the Republic of Congo.
Oil and gas company Sintana Energy has entered into agreement to acquire up to 67% shares of Giraffe Energy Investments, the owner of a 33% interest in petroleum exploration license 79 (PEL 79) which governs blocks 2815 and 2915 offshore Namibia.
Oil prices increased by 12.9% in the first quarter of 2024, albeit with much volatility due to concerns that global geopolitical tensions will cause supply disruptions.