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The U.S. Treasury Department on Tuesday issued a general license authorizing the provision of U.S. goods, technology, software or services for the exploration, development or production of oil and gas in Venezuela, a long-awaited permit that could help increase output in the country. Washington has been relaxing sanctions on Venezuela’s energy industry, first imposed in …
(Reuters) – U.S. natural gas output will rise to a record high in 2026, while demand will hold steady, the U.S. Energy Information Administration said in its Short-Term Energy Outlook on Tuesday. EIA projected dry gas production will rise from a record 107.6 billion cubic feet per day in 2025 to 110.0 bcfd in 2026 …
US Natgas Output to Hit Record High in 2026, While Demand Holds Steady, EIA Says Read More »
(Reuters) – Expanded U.S. licenses for Venezuela-related deals are expected to restore the South American country’s oil production by mid-2026 to levels seen before a U.S. naval blockade in December, the U.S. Energy Information Administration said on Tuesday. Venezuela’s state oil company PDVSA was forced to make deep output cuts after Washington imposed the strict …
Venezuelan Oil Output Could Return to Pre-Blockade Level by Mid-2026, EIA Says Read More »
(Reuters) – BP’s decision to scrap buybacks may be painful in the short run, but by prioritising production growth over shareholder payouts it can begin to repair its shaky financial footing. Cutting buybacks marks the most significant shift in BP’s financial framework since it halved its dividend in August 2020 following the pandemic-driven collapse in …
BP’s Buyback Cut is Short-Term Pain That Could Be Shell’s Gain: Bousso Read More »
(Reuters) – Equinor’s international oil and gas portfolio will return to growth in the next few years as the Norwegian energy group targets sharply increased output abroad by 2030, its head of foreign operations told Reuters. After recent divestment of onshore assets in Argentina, Equinor now produces oil and gas in seven countries outside Norway, …
Norway’s Equinor Plans Sharp Increase to International Oil and Gas Output by 2030 Read More »
By David Wethe and Kevin Crowley Chevron Corp. acquired a ranch in West Texas whose owner had been waging a legal battle accusing the US energy giant of negligently spilling toxic water and crude oil on the 22,000-acre property. The sale of Ashley Watt’s Antina Ranch was recorded on Feb. 3 by the Crane County …
Chevron Buys West Texas Ranch in ‘Zombie’ Oil Well Settlement Read More »
By Timour Azhari [image] Saudi, US firms to explore oil and gas in northeast Syria Project follows Assad’s ousting, lifting of US sanctions Consortium includes Baker Hughes, Hunt Energy, ACWA Power, TAQA, Argent LNG RIYADH, Feb 10 (Reuters) – Two Saudi Arabian and three U.S.-based firms are set to form a consortium for oil and …
Saudi, US Firms to Partner on Northeast Syria Energy Project Read More »
CALGARY – Oilpatch advisers are expecting the wave of consolidation to continue after last year’s string of blockbuster Canadian deals, but whether foreign buyers are ready to jump into the fray remains an open question. Companies have seen the merit in bulking up through mergers and acquisitions as oil prices hover around the lacklustre US$60 …
Canadian Oilpatch Expected to Keep Bulking Up Through Mergers and Acquisitions Read More »
BP pauses $750-million quarterly share buybacks Q4 net profit $1.54 billion, up 32% on year Bumerangue field expected to hold 8 billion barrels Shares dropped as much as 5.7% in morning trading (Reuters) – BP suspended its share buyback programme and took about $4 billion of charges in its renewables and biogas assets, sending its shares …
BP Suspends Buyback to Trim Debt, Sending Shares Down Over 4% Read More »
Summary Presidio’s Goldman facility is a first in oil and gas industry Acquisition finance provided by Goldman, with debt held by bank for use in future ABS Structure offers lower debt costs, as well as speed and more certainty in deal talks (Reuters) – Presidio Investment Holdings is working with Goldman Sachs on a first-of-its-kind debt …
