When conflicts erupt, the fighting doesn’t always unfold on battlefields. Sometimes, it happens across negotiation tables, along energy pipelines, or in the...
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...
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.
Mineral rights fragmentation is not a temporary crisis but an inherent, perpetual friction in...
Natural gas remains the leading source of electricity generation in the United States, but...
by Bloomberg, via RigZone.com | F.Kozok, S.Hacaoglu | Turkey plans to sign new energy deals with...
President Donald Trump used his address at the United Nations General Assembly this week...
West Texas holds a treasure trove of natural gas that could become a critical...
TotalEnergies has signed an agreement with Continental Resources to acquire a 49% interest in...
by Bloomberg [via RigZone.com] |Veena Ali-Khan, Mia Gindis| Oil notched its biggest weekly gain...
By DANIEL JONES, US CONSUMER EDITOR | Daily Mail | and REUTERS | Exxon Mobil...
By Mella McEwen,| Midland Reporter Telegram | John Sellers and Cody Campbell, co-chief executive officers...
By Claire Hao, Staff Writer| Houston Chronicle| Vistra plans to build two new natural gas...
AXP Energy has confirmed the presence of hydrocarbons in multiple pay zones at its...
OPEC+’s production hikes have been a tool to both punish countries that were overproducing...
Have your oil & gas questions answered by industry experts.