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By: Judith Kohler – The Denver Post – Two of the biggest mergers in the oil and gas industry this year took...
By: Greg Avery – Denver Business Journal – A private equity-backed business has acquired a Denver-based oil and gas company with thousands...
By: Reuters Staff – Reuters – U.S. oil and gas mergers surged last quarter with the most $1 billion-plus deals since 2014,...
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By: Anthony Di Paola – Bloomberg – The OPEC+ oil cartel is facing its biggest crisis since a price war at the...
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Benchmark U.S. crude oil for February delivery fell $2.34 to $71.77 per barrel Thursday. Brent crude for February delivery fell $1.26 to $78.39 per barrel.
Wholesale gasoline for January delivery fell 6 cents to $2.09 a gallon. January heating oil fell 6 cents to $2.56 a gallon. February natural gas rose 12 cents to $2.56 per 1,000 cubic feet.
The United States has finalized contracts to purchase three million barrels of oil to help replenish the Strategic Petroleum Reserve (SPR) after the largest sale in history last year, the U.S. Department of Energy said on Tuesday.
The department said it bought the oil, for delivery to a site in Big Spring, Texas, for an average of $77.31 a barrel, below the average of $95 a barrel that oil sold for in 2022.
The administration of President Joe Biden had conducted sales last year, including a record one of 180 million barrels, to help control oil prices after Russia, a large crude exporter, invaded Ukraine.
The U.S has now purchased about 14 million barrels for replenishment after last year’s sales. About 4 million barrels are also coming back to the SPR by February as oil companies return oil that had been loaned to them through a swap.
Qatar announced a major milestone for its crude oil exports as it signed a five-year crude sales deal with Shell. The agreement calls for the supply of 18 million barrels of oil annually for five years.
QatarEnergy signed the deal with Shell International Eastern Trading Co. and has committed to supply Qatar Land and Qatar Marine crude oils to the international oil giant’s trading arm in Singapore.
The deal is part of QatarEnergy’s strategy to engage long-term business partnerships. In a statement, Saad Sherida Al-Kaabi, the minister of state for energy affairs and president and CEO of QatarEnergy, said, “We are delighted to sign our first-ever five-year crude sales agreement.”
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By Felicity Bradstock for Oilprice.com| Many countries need to invest heavily in upgrading their...
Yuka Obayashi and Katya Golubkova | TOKYO (Reuters) -U.S. President Donald Trump said on...
Baker Hughes, Hunt Energy, and Argent LNG are forming a partnership to create a...
By Charles Kennedy for Oilprice.com | Shell and other major energy players have withdrawn...
Merger and acquisition activity in the U.S. upstream oil and gas sector slowed significantly...
By Felicity Bradstock for Oilprice.com | The United Nations Development Programme (UNDP) and the...
The U.S. oil and gas industry is riding a line between productivity and paralysis....
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