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Shell Says Weak Oil and Gas Trade Hit Second-Quarter Profit

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

Shell Plc expects second-quarter results to be negatively impacted by a weaker performance from its oil and gas trading operation, with earnings from the division expected to be “significantly lower” quarter-on-quarter. The company’s shares declined to a four-week low following the announcement, with European peers BP Plc and TotalEnergies SE also falling. Shell’s trading update …

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US Crude Oil Output Hit Record in April, EIA Data Shows

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

U.S. crude oil production hit a record 13.47 million barrels-per-day in April, up from 13.45 million bpd in March, according to data released by the Energy Information Administration as part of its Petroleum Supply Monthly series. The EIA had previously estimated U.S. oil output at 13.49 million bpd in March. Total U.S. petroleum product supplied, …

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IT’S BACK! Everything We Know About LANDMAN Season 2

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

“As long as there are stories to tell, I would love to keep telling them,” co-creator Christian Wallace said. Now that Taylor Sheridan’s new show Landman has aired its season finale, fans are already eager to know if the Texas-set drama will be back for a second season on Paramount+. In March, the streamer officially confirmed a Landman season 2 after …

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US Shale Producers Unlikely to Heed Trump’s Call to “Drill, Baby, Drill” as Rally Fades

Conventional Energy, Energy Commentary, Energy Topics & Technology, Exploration & Production, Latest, Oil, Tri-Pinned, US News / By

US shale oil producers are unlikely to increase production in response to President Donald Trump’s call to “Drill, Baby, Drill” and will instead prioritize hedging contracts to lock in revenue. Companies are wary of being caught off guard by another false start in global crude markets and will not spend heavily on new drilling without …

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Oil Demand Growth to Continue, No Peak in sight, OPEC Secretary-General Says

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

Oil demand growth will remain robust over the next two and a half decades as the world population grows, OPEC Secretary General Haitham Al Ghais said on Tuesday. The organization expects a 24% increase in the world’s energy needs between now and 2050, with oil demand surpassing 120 million barrels per day over that time …

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OPEC Secretary-General Takes Aim at Net-Zero Targets ‘Detached From Reality’

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

There’s no peak in global oil demand on the horizon and it will take trillions in investment in the coming decades to meet that need, the secretary-general of the Organization of Petroleum Exporting Countries said Tuesday. Primary energy demand is forecast to rise by 24 per cent between now and 2050, surpassing 120 million barrels …

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Petronas Reportedly Exploring Sale of US$7 Billion Canadian Business

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

The company may also consider selling a minority stake in the business, depending on valuation Bloomberg News Petroliam Nasional Bhd. is considering options for its Canadian company formerly known as Progress Energy Resources Corp., including a sale, according to people familiar with the matter. Petronas, as the Malaysian state energy firm is known, is working with a …

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Shell-BP Merger’s Key Ingredient is Time

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(Reuters Breakingviews) – Wael Sawan must feel like it’s Groundhog Day. In recent weeks Shell’s  chief executive has been fielding one question over and over again: whether he’s considering merging his $198 billion group with struggling UK rival BP. Drill down into whether a swoop for the $77 billion oil major makes any sense, and Sawan’s lack …

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EOG Resources to Acquire Encino Acquisition Partners from CPP Investments and Encino Energy, Strengthening Premier Utica Asset; Increases Regular Dividend 5%

Energy Topics & Technology, Exploration & Production, Latest, Press Releases / By

HOUSTON, May 30, 2025 /PRNewswire/ — EOG Resources, Inc. (EOG) today announced a definitive agreement with Canada Pension Plan Investment Board (CPP) and Encino Energy under which EOG will acquire Encino Acquisition Partners (EAP or Encino) for $5.6 billion, inclusive of EAP’s net debt. EOG currently expects to fund the acquisition through $3.5 billion of debt …

EOG Resources to Acquire Encino Acquisition Partners from CPP Investments and Encino Energy, Strengthening Premier Utica Asset; Increases Regular Dividend 5% Read More »

Chevron to Cut Nearly 800 Jobs in Texas

Conventional Energy, Energy Topics & Technology, Exploration & Production, Latest, Natural Gas, Oil, Tri-Pinned, US News / By

Chevron will lay off nearly 800 employees in Texas, according to a notice on Wednesday to the Texas Workforce Commission, part of the U.S. oil producer’s plan to cut up to 20% of its global workforce by the end of 2026. The job cuts will be in Midland County, where Chevron has large operations in …

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