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By Kevin Crowley, Jennifer A Dlouhy, Fabiola Zerpa, and David Wethe Exxon Mobil Corp. and ConocoPhillips are pushing for durable contract terms and a way to resolve billions of dollars owed to them as they consider re-entering Venezuela after exiting the country two decades ago. Both companies are in active negotiations with President Delcy Rodríguez’s …
Exxon, ConocoPhillips Seek Safeguards to Return to Venezuela Read More »
Shares of the company fell 9.3% By Mitchell Ferman and Ruth David BP PLC unexpectedly fired Chairman Albert Manifold just months into the job due to serious concerns about “governance standards, oversight and conduct,” prolonging a period of turmoil at the U.K. oil major. BP has had three chief executive officers in as many years, …
BP Chair Who Sped Up Company’s Turnaround Fired Over Conduct Read More »
HIGHLIGHTS NOG makes strategic entry into Canada with inventory-rich light oil acquisition in the Duvernay Shale for a CA$350 million (~US$259 million) initial unadjusted purchase price Operated ‘buy-down’ acquisition of a 25% non-operated stake in light oil producing properties with significant undeveloped inventory in Alberta, Canada in the Duvernay East Shale Basin operated by Parallax …
(Reuters) – U.S. oil operators in North Dakota are moving cautiously on ramping up drilling despite a sharp rise in oil prices driven by the Iran war, as companies wait to see if higher prices will last long enough to justify new investment, the state’s regulator said on Friday. While elevated prices have improved near-term …
U.S. Oil Operators in North Dakota Cautious on Drilling Despite Price Rise Read More »
May 21 (Reuters) – U.S. oil major Exxon Mobil (XOM.N) is in talks to acquire rights to produce oil in Venezuela nearly two decades after it was effectively expelled from the country, the New York Times reported on Thursday, citing people familiar with the matter. The deal, which could be finalized and announced as soon …
Exxon May Acquire Rights to Produce Oil in Venezuela, New York Times Reports Read More »
By Jennifer A Dlouhy The head of ConocoPhillips said Venezuela’s initial steps to attract foreign oil companies that could help revive the nation’s production are falling well short of what’s needed to convince firms to invest. The recent changes to Venezuela’s oil law intended to entice foreign drillers still give the government wide latitude to …
ConocoPhillips Says Venezuela’s Bid to Woo Oil Firms Falls Short Read More »
HOUSTON, May 21, 2026 (GLOBE NEWSWIRE) — Devon Energy Corporation (NYSE: DVN) announced the successful acquisition of 16,300 net undeveloped acres in the core of the Delaware Basin in Lea and Eddy Counties, New Mexico, for approximately $2.6 billion, or approximately $161,500 per net acre, through the Bureau of Land Management (“BLM”) Oil and Gas …
Devon Energy Enhances Permian Inventory in Federal Lease Sale Read More »
By David Carnevali Buyout shops are finding a rare exit opportunity in the US oil patch. US private equity firms are shopping more than half-dozen closely held oil and gas companies in Texas, Colorado and elsewhere that together are worth about $20 billion, after the Iran War pushed crude above $100 a barrel. That’s spurred …
Oil & Gas Dealmaking Heats Up With $20 Billion of Assets in Play Read More »
By Stephanie Kelly and Shadia Nasralla Shell CEO Wael Sawan says oil demand will remain essential for decades Shareholder climate resolution gets 13% support, according to initial results LONDON, May 19 (Reuters) – Shell (SHEL.L) shareholders knocked back a climate activist resolution at Tuesday’s annual general meeting, in a resounding show of support for CEO …
Shell Shareholders Reject Climate Activist Resolution as They Re-Elect CEO, Chairman Read More »
May 14 (Reuters) – A Texas jury on Wednesday found Exxon Mobil (XOM.N) not liable on claims it defrauded investors through disclosures tied to its Canadian oil sands and Rocky Mountain gas operations. The 2016 lawsuit alleged Exxon concealed that its Canadian bitumen operations were losing money, failed to properly incorporate carbon-cost assumptions into reserve …
Exxon Mobil Not Liable to Investors Over Canadian Oil Sands, Gas Assets, Jury Says Read More »
