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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

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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%

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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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Exxon, Hess to Face Off Over Chevron Deal for Oilfield Riches

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By Sheila Dang Arbitration tribunal under ICC to analyze dispute in confidential hearing in London Chevron acquisition of Hess hangs in the balance Resolution expected by end of third quarter, faster than typical ICC arbitration HOUSTON, May 23 (Reuters) – Top U.S. oil producer Exxon Mobil (XOM.N) and Hess (HES.N) will meet face-to-face on Monday …

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Elliott Wins Two Seats, Phillips 66 Retains Two Seats in Hotly Contested Board Fight

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

By Svea Herbst-Bayliss and David French Phillips shareholders elect two of activist investor’s nominees Oil refiner also sees two of its nominated directors elected Analysts say vote means some change but no big mandate for transformation Elliott had never had a US based proxy fight go to a vote NEW YORK, May 21 (Reuters) – …

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ConocoPhillips Beats First-Quarter Profit Target, Announces CFO Retirement

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May 8 (Reuters) – ConocoPhillips (COP.N) beat Wall Street estimates for first-quarter profit on Thursday and said Chief Financial Officer Bill Bullock will retire after nearly four decades with the oil and gas producer. The company’s $22.5 billion acquisition of Marathon Oil in November has boosted ConocoPhillips’ presence in the Permian, Eagle Ford and Bakken …

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BP-Shell Megadeal Would Create European Rival to Exxon Mobil

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If Shell acquires BP, it would create a European oil major that could challenge industry leaders Exxon Mobil Corp. and Chevron Corp., with upstream oil and gas production of nearly 5 million barrels of oil equivalent a day. Summary by Bloomberg AI The deal would give Shell dominance in LNG sales, with combined sales jumping …

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Shell Profit Beats Expectations, Buybacks Kept Steady

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By Shadia Nasralla Q1 adjusted earnings $5.58 billion above forecast $4.96 billion Will buy back shares worth $3.5 billion in next three months Contrasts with BP that cut buybacks this year CEO says would rather buy back more shares than bid for BP LONDON, May 2 (Reuters) – Shell (SHEL.L) exceeded analyst expectations on Friday, …

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