BP Plc anticipates strong growth in the U.S. as President-Elect Donald Trump improves regulations on the oil and gas industry just as artificial intelligence boosts energy demand.
Marathon Oil survives as a subsidiary. Marathon Oil shareholders received 0.255 ConocoPhillips common shares for each common share they held at Marathon Oil. ConocoPhillips paid cash for fractional shares. The total enterprise value of $22.5 billion includes $5.4 billion of net debt accrued by Marathon Oil, according to the announcement of the merger agreement May 29.
Natural gas is surging again as winter storms seek to disrupt the Thanksgiving travel holiday, Phil Flynn, a Senior Market Analyst at the PRICE Futures Group, told Rigzone.
According to the U.S. Energy Information Administration’s (EIA) latest short term energy outlook (STEO), which was released recently, the world produced an average of 76.10 million barrels of crude oil per day in the third quarter of 2024.
Temperatures in northwest Europe are expected to drop again in the coming days after a mild start to the week. Meanwhile, Woodside Energy Group Ltd. halted the Pluto liquefied natural gas facility in Australia due to an unplanned outage, adding to broader supply concerns.
President-elect Donald Trump’s transition team is crafting an executive order to lift a moratorium on natural gas export permits that was put in place by the Biden administration, people familiar with the matter said.
West Texas Intermediate shed 3.2% to settle below $69 a barrel. The Israeli ambassador to the US said a cease-fire agreement between his country and Lebanon’s Hezbollah could happen “within days.” Brent slid 2.9% to settle near $73.
Mexico’s finance ministry is preparing to enlist a consortium of banks to provide financing that Petroleos Mexicanos would use to pay off debt with service providers, according to a recording of remarks made by its CEO.
Velesto Energy Bhd. (Velesto) has signed a Memorandum of Understanding (MOU) with Petroliam Nasional Bhd. (Petronas) and National Oilwell Varco L.P. (NOV) to implement rig mechanized automation processes and integrate robotics into drilling operations.
CoolCo said that its fleet achieved an average time charter equivalent earnings (TCE) of $81,600, jumping from $78,400 for Q2, as one vessel started a higher rate charter.