Exploration & Production

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TotalEnergies Q2 Earnings Fall 6% on Weak Refined Product and Gas Demand

CDN and International News, Conventional Energy, Exploration & Production, Latest, Oil / By

PARIS, July 25 – French oil major TotalEnergies reported a 6% fall in second-quarter earnings on Thursday, worse than analysts expected, hurt by lower refined product and gas sales and as European refining margins tumbled. Adjusted net income for the three months to June 30 was $4.7 billion, down from $4.96 billion a year earlier and $5.1 …

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Declining Mexican Crude Output Could Shatter Energy Independence Dream

CDN and International News, Conventional Energy, Energy Topics & Technology, Exploration & Production, Latest, Oil / By

Summary Mexico will likely need to import crude after 2030 Zama and Trion fields to lift output but others decline rapidly (Reuters) – Mexico’s incoming President Claudia Sheinbaum will likely face a new challenge fulfilling the dream of energy independence that led her predecessor to spend $17 billion on a new refinery: a shortfall in domestic crude supply. …

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Shale Boss Warns Gas Prices Would ‘Skyrocket’ Under Frack Ban

Conventional Energy, Energy Topics & Technology, Exploration & Production, Latest, Oil, US News / By

Comments come as Kamala Harris is a contender for White House Harris had previously endorsed fracking, offshore-drilling ban Prices for natural gas would “skyrocket” if fracking was banned. That’s according to Toby Rice, chief executive officer of shale driller EQT Corp., marking one of the first prominent voices in the fossil fuel industry to comment on …

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Canadian Wildfires Threaten Oil Output, Prompt Evacuations

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Fires burn close to 388,000 barrels a day of oil production Jasper National Park is evacuated due to wildfire threat Wildfires in Canada’s energy-producing Alberta province are threatening almost 10% of the region’s oil production and forcing the evacuation of one of the country’s largest national parks during the peak summer tourist season. Hot weather …

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Judge Pauses Wyoming Oil and Gas Drilling Leases Pending Review

Conventional Energy, Energy Topics & Technology, EnergyNow News and Press Releases, Exploration & Production, Latest, Oil, US News / By

A federal judge has ordered the U.S. Bureau of Land Management to pause approving new permits to drill for oil and gas on nearly 120,000 acres of federal land in Wyoming until it finishes reevaluating the environmental impacts of a lease sale. Tuesday’s decision by U.S. District Judge Christopher Cooper in Washington, D.C., followed his …

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TotalEnergies Says Oil Production to Hit High End of Q2 Guidance

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By Reuters (Reuters) – French oil major TotalEnergies  said on Tuesday its second-quarter hydrocarbon production levels will hit the top end of its guidance range, while pressure on refining margins will be partly alleviated by higher refinery utilisation. WHY IT’S IMPORTANT TotalEnergies quarterly earnings are due on July 25, and investors are closely watching the company …

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Kuwait Announces ‘Giant’ Oil Discovery

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(Reuters) – Kuwait Petroleum Corporation (KPC) said on Sunday it had made a “giant” oil discovery in the Al-Nokhatha field east of the Kuwaiti island of Failaka, with oil reserves estimated at 3.2 billion barrels. KPC’s CEO Sheikh Nawaf Saud Nasir Al-Sabah said in a video posted by the company on X that the new …

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BP Is on Borrowed Time to Change – Or Else

Conventional Energy, Energy Topics & Technology, Exploration & Production, Latest, Oil, US News / By

If there’s an all-hands-on-deck response at the oil major’s headquarters, that message seems to be lost in translation for concerned investors. By Javier Blas Murray Auchincloss had a clear message to his shareholders days after becoming chief executive officer of BP Plc: “I’m focused on growing the value of BP.” Nearly six months since his …

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Shell’s Bet on Gas Boom Takes Shape with String of Deals

Conventional Energy, Energy Topics & Technology, Exploration & Production, Latest, LNG, Natural Gas, US News / By

(Reuters) – Shell has replaced liquefied natural gas (LNG) volume it lost after exiting Russia in 2022 with a string of deals that underpin CEO Wael Sawan’s bet on growing demand for the fuel as he reduces the focus on renewable energy. The new projects in the United Arab Emirates and Trinidad and Tobago and the acquisition …

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Diamondback Reports Second-Quarter Average Realized Natgas Price of 10 Cents Per Mcf

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U.S. oil and gas producer Diamondback Energy’s average unhedged realized price for natural gas was 10 cents per thousand cubic feet (Mcf) in the second quarter, the company said in a regulatory filing on Thursday. Natural gas prices have fallen in the reported quarter, hurt by a lower demand forecast, high output and excess inventories, …

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