Saudi Arabia is expected to launch as soon as Sunday a secondary share sale in its oil giant Aramco, Reuters reported on Thursday, quoting sources familiar with the plans.
Companies publicizing their environmental actions will have to prove the truth of every word they say, measured against undefined ‘internationally recognized methodology’
US crude oil inventories for the week ended May 24, excluding the Strategic Petroleum Reserve, decreased by 4.2 million bbl from the previous week, according to data from the US EIA
Royalties from the Petroleum Holding Fund (PHF) dropped from $1,428,760,076.93 in 2022 to $1,062,323,419.12 in 2023 representing a 25.65% decrease from the previous year.
A study by Pickering Energy Partners shows banks across the U.S. are backing away even more from their climate goals and previous wary stance against the oil and gas industry.
Regional banks are actually increasing their efforts to finance the energy industry, rather than using environmental, social and governance policies to avoid making loans to oil and gas operators.
The cost to use a drilling rig to explore for crude oil and natural gas in the Middle East may have bottomed out after dropping almost 20% since the end of 2023 after Saudi Aramco cancelled its long-planned crude output capacity expansion in late January.
Tellurian Inc. and Aethon Energy Management LLC announced an agreement for Aethon to acquire Tellurian’s integrated upstream assets for $260 million, alongside a Heads of Agreement for Aethon to purchase two million tons per annum (MMtpa) of liquified natural gas (LNG) from Tellurian’s Driftwood LNG plant.
ConocoPhillips has entered into a definitive agreement with Marathon Oil Corp. to acquire the independent oil and gas E&P company in an all-stock transaction with an enterprise value of $22.5 billion, inclusive of $5.4 billion of net debt.
ARA Petroleum announced that the Ministry of Energy in Tanzania has granted a 25-year Development Licence over the Ntorya natural gas discovery area to the Ruvuma joint venture.
Many African countries face challenges in developing and utilising their energy resources. These challenges include lack of access to capital, inadequate infrastructure, unclear regulations, and limited local expertise.