Implementing GST is being considered as a solution to the high rates of petrol and diesel in the country, as it would eliminate the cascading effect of taxes—where state VAT is applied to both the cost of production and the central excise duty charged on that output.
Mexican state oil company Petroleos Mexicanos is putting a freeze on new contracts with service providers as the company works to pay off the roughly $20 billion it owes suppliers.
Western governments crafted another way to benefit from soaring oil and gas company profitability–taxing share buybacks, such as has been done in the U.S. and Canada. Dividends could also be taxed more heavily. Both methods, suggests Wood Mackenzie, would actually “incentivize reinvestment, thus promoting jobs and additional energy supply”.
Trinidad’s annual gas output has been on a tailspin for years now, dropping from 1.479 tcf in 2012, to 0.988 tcf in 2022 in large part due to declining gas reserves in mature gas fields, overshadowing discoveries in neighboring countries and unappealing fiscal terms. But its Latin American peers are doing no better.
Leading the rally was Adani Total Gas, which surged 15.7%, Adani Energy Solutions and Adani Green Energy zoomed 10%, Adani Power jumped 7.0%, and Adani Enterprises climbed 1.7%per cent on the BSE. The shares were traded on heavy volume, with Adani Energy Solutions and Adani Green Energy hitting their highest trading permissible limit for the day.
According to Companies House’ records, Nest Wise’s business includes the sale of petroleum and petroleum products, fuels, ores, metals and industrial chemicals. The filings also show that during the London entity’s incorporation, Dubai-based Nest Wise Petroleum LLC was the sole shareholder listed.
The crude oil market continues to face uncertainties” in terms of demand outlook and geopolitical events, Charu Chanana, chief investment strategist for Singapore-based Saxo Markets, told Bloomberg. “These, together with market oversupply, raise doubts over OPEC+ unwinding its voluntary production cuts.”
“This achievement underscores our proactive approach to sustainable operations,” said Sabrina Rajan, McDermott’s Senior Director, Sustainability. “By optimizing our energy use and minimizing emissions, we are not only driving operational efficiencies, but also delivering on our commitment to responsible resource management, bringing energy-smart solutions to complex projects globally.”
Empire Petroleum Corporation announced that it has entered into an amendment to its Revolver Loan Agreement with Equity Bank, increasing the total principal commitment to $20.0 million, up from an initial $10.0 million through December 29, 2026. Currently, Empire has approximately $8.4 million borrowed on the $20.0 million facility.
Enverus Intelligence® Research (EIR), a subsidiary of Enverus, has released its annual Montney and Duvernay Play Fundamentals that examines recent drilling trends, well inventory counts and associated economics within both Canadian plays.