Eni had announced it had entered into a binding agreement with Hilcorp for the sale of the assets in June 2024. Having received the approval of all relevant authorities, the parties have proceeded to close the transaction.
This increase comes as the market prepares for a week that includes a U.S. presidential election and a significant meeting in China, News.Az reports, citing Reuters.
An international law expert has warned that abandoning oil and gas infrastructure in Bass Strait would breach Australia’s obligations under international law, if ExxonMobil pursues this plan in decommissioning its Gippsland offshore project.
Diamondback Energy on Thursday signaled lower prices for its third-quarter oil and gas production, making it the third U.S. shale producer to do so in just a week.
Saudi Arabia raised its main oil prices for buyers in Asia amid heightened volatility in the crude market as traders watch developments in the Middle East conflict.
Crude oil prices are on track to end the week with a rare gain for the past few months, supported by the Fed’s decision to cut the key interest rate by 0.5%.
(THE CONVERSATION) On a recent visit to Rangely, a small town in northwest Colorado, my colleagues and I met with the administrators of a highly regarded community college to discuss the town’s economy. Leaving the scenic campus, we saw families driving into the mountains in off-road vehicles, a favorite activity for this outdoors-loving community. With a median household income above US$70,000 and a low cost of living, Rangely does not have the signs of a town in economic distress.
Oil prices stabilised on Monday as ongoing disruption to US Gulf oil infrastructure balanced persistent demand concerns after a fresh round of Chinese data while investors await news on US interest rates this week.
Oil prices climbed 2% early Thursday morning as Tropical Storm Francine landed on the coast of Louisiana.
Crude oil prices moved higher earlier today on anticipation that tropical storm Francine would disrupt oil and gas production in the Gulf of Mexico.