An Eon Resources Inc. subsidiary—Eon Energy LLC—is acquiring a 94% interest in the Permian Basin’s South Justis Field in Lea County, New Mexico, in exchange for 1 million Class A common shares.
Canada’s Woodfibre liquefied natural gas project looks to be operational by 2028, Erin O’Brien, assistant deputy minister at Canada’s department of natural resources, said at an energy conference in Tokyo on Friday.O’Brien added that the project is poised to be the world’s first net-zero LNG facility. (Reporting by Yuka Obayashi in Tokyo and Emily Chow …
Canada’s Woodfibre LNG Project to be Operational by 2028, Says Canada Official Read More »
Bloomberg Albert and Gordon Huddleston, part of the H.L. Hunt family, are in advanced talks to sell Aethon Energy Management’s assets to Mitsubishi Corp. for nearly $8 billion. The potential deal would mark a milestone for the father-son duo and their family’s legacy in the oil industry, which spans over a century and began with …
Texas Oil Dynasty Targets Payout With $8 Billion Mitsubishi Deal Read More »
U.S. and Chinese purchases for strategic oil reserves are expected to offset any potential global surplus, keeping oil prices in check, the head of the Russian oil producer Gazprom Neft said on Friday. The eight members of OPEC+, which groups OPEC and other producers led by Russia, are unwinding voluntary production cuts and have agreed …
US, Chinese Strategic Reserve Buys May Offset Oil Surplus, Russia’s Gazprom Neft Says Read More »
(Reuters) – Oil prices fell on Friday, but remained on course for a third consecutive weekly rise, after the White House delayed a decision on U.S. involvement in the Israel-Iran conflict. Brent crude futures fell $1.89, or 2.4%, to $76.96 a barrel by 1000 GMT. They were still set to gain nearly 4% on the …
Oil Prices Fall as US Delays Decision on Direct Iran Involvement Read More »
Brent crude oil is up around 20% so far in June, and set for its biggest monthly jump since 2020 as Israel/Iran tensions flare-up. Although relatively contained, the rise has not gone unnoticed just three years after Russia’s invasion of Ukraine triggered a surge in energy prices that ramped up global inflation and sparked aggressive …
World Markets on Oil watch as Middle East Tensions Flare Read More »
Aethon Energy is navigating an uncertain market with cautious optimism as the company explores riskier opportunities that can help meet power demand growth, says co-President Gordon Huddleston.
Permian Basin-focused operator Don Sparks told fellow wildcatters, after receiving the IPAA’s lifetime achievement award, that Washington should be helping the U.S. industry assure national security, and that won’t happen at $50 oil.
(Reuters) – JP Morgan believes that a Strait of Hormuz closure would likely trigger a sustained oil price shock that will reverberate through global macro developments, the bank said in a note. It said that in the most extreme case of a broader regional conflagration that includes the closure of Hormuz, it estimates oil prices …
JP Morgan Says Strait of Hormuz Closure Could Trigger a Sustained Oil Price Shock Read More »
June 19 (Reuters) – An escalation of the Iran-Israeli hostilities could keep Brent oil prices trading about 15% to 20% above pre-conflict levels if the war disrupts 1.1 million barrels per day (bpd) of Iranian oil exports, analysts at Citibank said on Thursday. “This implies Brent prices should be in the $75 to $78/bbl range,” …
Citi Sees Oil Prices of $75-$78/bbl if War Disrupts 1.1 mln bpd of Iran’s Oil Exports Read More »
