Petronas is considering options for its Canadian company formerly known as Progress Energy Resources Corp., including a sale, according to people familiar with the matter. A transaction could value the Canadian business at $6 billion to $7 billion, sources said. SourceContinue Reading
Viper Energy Inc., the mineral and royalty unit of Diamondback Energy Inc., agreed to buy Sitio Royalties Corp. for about $4.1 billion, including debt, in the latest deal focused on the Permian basin. SourceContinue Reading
bp and partners have approved the next phase of development of the Shah Deniz gas field. The $2.9 billion Shah Deniz Compression project is the field’s third phase of development. In addition to the project approvals, bp today completed an agreement with SOCAR to access two blocks in the Caspian Sea for exploration and development....Continue Reading
Getech Group and STRYDE have jointly announced the launch of a new high impact targeting and exploration service designed to help energy and natural resource companies explore faster and more effectively, while reducing exploration risk and cost. SourceContinue Reading
Baker Hughes and Cactus, a global manufacturer of pressure control equipment for oil and gas drilling, have entered a new joint venture involving Baker Hughes’ surface pressure control (SPC) product line. Cactus will own 65% of the JV, while Baker Hughes will retain a 35% stake. SourceContinue Reading
Oil climbed after OPEC+ increased production less than some had feared and geopolitical concerns flared in Ukraine and Iran. WTI neared $63 a barrel after the Organization of the Petroleum Exporting Countries and its allies met on Saturday. SourceContinue Reading
The Trump administration is moving to repeal Biden-era curbs blocking oil drilling across most of the mammoth petroleum reserve in Alaska that’s home to an estimated 8.7 billion barrels of recoverable oil. SourceContinue Reading
The U.S. Department of Energy is canceling some $3.7 billion allocated for clean energy projects under the Trump administration’s orders. Among the canceled awards was $331 million for ExxonMobil to use hydrogen at its Baytown, Texas Olefins plant. SourceContinue Reading
Nigeria’s President Bola Tinubu has signed an executive order aimed at drawing investment in the oil sector by lowering project costs, while protecting government revenue as the West African nation looks to grow output. SourceContinue Reading
Baker Hughes and Cactus, a global manufacturer of pressure control equipment for oil and gas drilling, have entered a new joint venture involving Baker Hughes’ surface pressure control (SPC) product line. Cactus will own 65% of the JV, while Baker Hughes will retain a 35% stake. SourceContinue Reading
