President Joe Biden is on track to enact a permanent ban on future offshore oil and gas drilling in certain parts of...
Minot Daily News | BISMARCK – A recently completed case study evaluating the middle Three Forks reservoir within the Bakken Petroleum System...
A major environmental crisis has been unfolding in the Kerch Strait, a narrow passage linking Russia’s Krasnodar region and the Crimean Peninsula,...
by Andreas Exarheas| RigZone.com | Crude oil futures could see better prospects as traders return from the holiday break, focusing on a potential...
Cheniere Energy, Inc. (NYSE: LNG), a leading producer and exporter of liquefied natural gas (LNG), has announced the first production of LNG...
Natural gas futures have been climbing, sparked by new weather forecasts pointing to bitter cold arriving in major population centers as soon...
🔘 Despite record-breaking EV sales in China and Norway, global oil demand remains strong. 🔘 While China’s EV market surges, its oil...
by Bloomberg, via RigZone.com |Weilun Soon| The Amor, a Cameroon-flagged vessel known to have transported Iranian oil, has become the first supertanker...
Italian energy giant Eni has unveiled one of the world’s most powerful supercomputers, marking a significant leap in its technological capabilities. Named...
Crude oil production in the U.S. Lower 48 (L48) states, which excludes Alaska and offshore production, reached a record 11.3 million barrels...
Major U.S. equity benchmarks bounced back from a brief midweek downturn and resumed the holiday season rally Thursday, lifting the Dow Jones Industrial Average® (DJI) back near a record high as falling Treasury yields and further signs of easing inflation kept investors emboldened over prospects for Federal Reserve interest rate cuts and a "soft landing" for the economy. Here's where the major benchmarks ended:
TotalEnergies has signed an agreement with Thailand’s national oil and gas company PTTEP for the sale of a 25.5% equity stake in the Seagreen offshore wind farm for a consideration of $689 million.
Following this farm down, TotalEnergies retains 25.5% of Seagreen, alongside PTTEP (25.5%) and SSE Renewables (49%).
This transaction implies an enterprise value of $4.3 billion (100%), equivalent to a multiple of 13 times the expected average EBITDA over the next 5 years, depending on future market prices.
With a total capacity of 1,075 MW, Seagreen is the world’s deepest fixed-bottom wind farm. Fully operational since October 2023, Seagreen is comprised of 114 turbines which can provide enough electricity to power more than 1.6 million homes, equivalent to two-thirds of all homes in Scotland.
The energy sector is off to a mixed start, pressured by weakness in the crude complex but supported by strength in the major equity futures which bounced higher this morning following yesterday’s late-day selloff.
After three consecutive days of strong gains, WTI and Brent crude oil futures turned lower and were down over 1.5% in early trading. Reports showing higher inventories and record output in the United States weighed on prices and overshadowed lingering concerns over global trade disruptions in the Red Sea. In their latest inventory report, the EIA said that U.S. crude inventories rose by 2.9 million barrels last week, compared with analysts' expectations for a 2.3 million barrel draw and that U.S. crude output rose to a record 13.3 million bpd last week, up from the previous all-time high of 13.2 million bpd. Investors continue to worry about trade disruptions as major maritime carriers choose to steer clear of the Red Sea route, with longer voyages increasing transport and insurance costs.
Natural gas futures turned higher this morning following yesterday’s 1.8% drop, boosted by updated cooler weather forecasts in key consuming regions but gains were capped ahead of the weekly storage report. Analysts expect the EIA data to show a draw of (80) Bcf last week vs the 5-year average of (107) Bcf.
Bill Armstrong isn’t following the industry playbook. As U.S. shale producers consolidate and shrink...
Haynesville Gas Takeaway Grows With Leg Pipeline Launch (P&GJ) — Williams Companies has placed its...
Yuka Obayashi and Katya Golubkova | TOKYO (Reuters) -U.S. President Donald Trump said on...
The U.S. oil and gas industry is riding a line between productivity and paralysis....
The newly unveiled U.S.–EU energy framework, announced during the July 27–28 summit in Brussels,...
by Andreas Exarheas| RIGZONE.COM | Chevron will “consolidate or eliminate some positions” as part of...
Presidio Petroleum is preparing to enter the public markets through a strategic merger with...
By Haley Zaremba for Oilprice.com | The United States electric vehicle industry is facing...
Trying to catch up in oil and gas production is difficult enough. It becomes...
Author Mark Davidson, Washington|Editor–Everett Wheeler|Energy Intelligence Group| The number of active US gas rigs...
(Reuters) – U.S. gasoline demand in May fell to the lowest for that month...
by Bloomberg, via RigZone.com|Weilun Soon, Rakesh Sharma, Reporting| At least four tankers discharged millions...
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