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Control Devices, a portfolio company of HBM Holdings and designer and manufacturer of highly engineered flow control products, purchased Gilmore. Terms of the transaction were not disclosed.

Gilmore, headquartered in Houston, designs and manufactures high-performance severe service valves (e.g., check, relief, regulator, shuttle, control) and other flow control solutions, including custom valves to meet client specifications and pressure relief systems. Its products are designed for demanding applications and harsh environments in the upstream oil and gas industry.

Jakarta (ANTARA) – The discovery of two large natural gas sources in East Kalimantan and northern Sumatra seas in 2023 offers hope in supporting Indonesia’s 2030 gas production target of 12 billion standard cubic feet per day (BSCFD).

UK banks have provided bank accounts to holding companies linked to a state-backed Iranian petrochemicals company which has been under western sanctions since 2018, according to reports.

Oil markets are once again focused on looming demand weakness, capping oil prices despite rising tensions in the Middle East.

Tullow Oil Plc and its Joint Venture Partners have pointed out that they intend to take a drilling break in Ghana later in 2024 while existing well stock sustains production at Jubilee and TEN decline.

Money managers have become increasingly bullish on crude oil amid the geopolitical tensions in the Middle East and growing confidence that the U.S. will successfully avoid a recession this year.

The total number of active drilling rigs for oil and gas in the United States fell this week, according to new data that Baker Hughes published on Friday.

The total rig count fell by 2 to 619 this week, compared to 759 rigs this same time last year.

Big Oil has seriously underperformed the overall market over the past year, and it’s not just because of the decline in oil prices.

Investors are not convinced that oil companies—despite supplying essential products for today’s way of living such as gasoline, chemicals, fibers and what-not—have a future. Instead, they are focused on the trendy technology stocks, which have now become the darlings of the stock market.