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(Reuters) – U.S. producer Diamondback Energy bought options to sell the price difference between U.S. West Texas Intermediate crude and globally traded Brent crude at around minus $42 a barrel in coming months, according to the company’s quarterly filing, a bet that could pay off if the United States banned oil exports. The unusual hedge …
Diamondback Bets on Wider WTI-Brent Gap Amid US Export Ban Concerns Read More »
By Amanda Stephenson Enbridge eyes $10-20 billion in new capital investments over next 24 months Company views rival Canadian pipeline proposals as a sign of industry confidence and growth CEO Greg Ebel highlights surge in demand for crude oil export capacity at Ingleside terminal May 8 (Reuters) – The investment climate for energy infrastructure in …
Enbridge Sees Best North American Energy Investment Climate in Over a Decade Read More »
By Yawen Chen LONDON, May 7 (Reuters Breakingviews) – Shell is reaping the benefits of high fossil fuel prices. The $240 billion oil and gas major on Thursday reported first-quarter adjusted earnings of $7 billion, up nearly 25% year on year, as oil prices surged past $100 a barrel. Yet when it comes to shareholder …
By Ruth Liao Western Midstream Partners LP agreed to acquire closely-held pipeline operator Brazos Delaware II for about $1.6 billion. The deal, which is expected to close by the end of June, includes 900 miles (1,450 kilometers) of pipes as well as natural gas processing plants and related equipment in the prolific Delaware region of …
Western Midstream to Pay $1.6 Billion for Permian Pipelines Read More »
By Ari Natter The Trump administration is studying using oil under land at US military bases and other Department of War sites to help refill the nation’s depleted emergency reserves, according to a person familiar with the matter. No decision has been made on the possible initiative, said the person who asked not to be …
US Considers Tapping Oil at Military Bases to Refill Reserve Read More »
Summary Shell cuts quarterly buybacks to $3 billion from $3.5 billion Middle East war cuts output by 4% Shares fall in early trade along with oil prices, peers LONDON, May 7 (Reuters) – Shell’s first-quarter profit beat estimates and hit its highest in two years at $6.9 billion on Thursday, boosted by gains linked to the Middle …
Shell’s Profit Beats Expectations at $6.9 billion, Raises Dividend by 5% Read More »
OKLAHOMA CITY and HOUSTON, May 07, 2026 (GLOBE NEWSWIRE) — Devon Energy Corporation (“Devon”) (NYSE: DVN) and Coterra Energy Inc. (“Coterra”) (NYSE: CTRA) today announced the successful completion of their previously announced all-stock merger (the “Transaction”), creating a premier large-cap shale operator with a high-quality asset base anchored by a leading position in the economic …
Wednesday, May 6 (Reuters) – U.S. President Donald Trump told reporters on Wednesday that he met with top officials at Chevron (CVX.N) and ExxonMobil (XOM.N) a day earlier to discuss Venezuela. Reporting By Jacob Bogage and Jarrett Renshaw; Editing by Jasper Wad
(Reuters) – U.S. shale producer Occidental Petroleum will not add more oil hedges this year after volatility in crude prices following the Iran war led to lower realized prices. Speaking on a post-earnings conference call on Wednesday, Chief Financial Officer Sunil Mathew said derivative-related losses had a partial impact on Occidental’s first-quarter profit, which still …
Occidental Scraps New Oil Hedges as Iran War Fuels Price Volatility Read More »
(Reuters) – Cenovus Energy on Wednesday posted an 83% jump in first-quarter profit, driven by higher crude prices, strong refining margins and increased production following its acquisition of MEG Energy. The Canadian oil and gas producer also said it would raise its quarterly base dividend by 10% to 22 Canadian cents per share starting in the …
Canada’s Cenovus Profit Soars 83% as MEG Deal Boosts Output, Raises Dividend Read More »
