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By Heidi Taksdal Skjeseth An offshore oil drilling platform in Norway. Photographer: Carina Johansen/Bloomberg Of all the world’s sovereign wealth funds, Norway’s is one of the most unusual. These giant, state-linked investment vehicles tend to pick and choose what assets they hold to manage risk, maximize returns and further national strategic interests. Not so with …
How Sparsely Populated Norway Amassed $1.8 Trillion Read More »
By Amy Stillman, Scott Squires, and Andrea Navarro Carlos Slim Photographer: Luis Antonio Rojas/Bloomberg The transformation of Mexico’s richest person into its most important oil baron came about slowly, almost subtly. Carlos Slim built up a stake in Talos Energy Inc. before flipping it for the company’s Mexican unit. There was a 2023 deal for …
Carlos Slim Is Quietly Becoming Pemex’s Partner of Last Resort Read More »
(Reuters) – The U.S. Gulf of Mexico can continue growing oil output even amid geopolitical volatility not seen in decades, oil and gas industry leaders said on Monday. U.S. President Donald Trump’s global tariff announcements have since last month contributed to a decline in oil prices and fears of an economic downturn, making it more …
By Kanupriya Kapoor and Kari Lundgren Equinor ASA agreed to sell its 60% stake in the Peregrino oil and gas project off the Brazilian coast to PRIO SA for $3.5 billion, as the Norwegian energy explorer seeks to streamline international operations. Rio de Janeiro-based PRIO gained. Brazilian firm Prio Tigris Ltda., a subsidiary of PRIO …
Norway’s Equinor Offloads Stake in Brazilian Oil Field for $3.5 Billion Read More »
(Reuters) – The U.S. Interior Department said on Thursday it has implemented new guidelines for allowable pressure differences in a certain type of oil drilling in part of the Gulf of Mexico, changes it expects can boost U.S. oil output. President Donald Trump’s new Energy Dominance Council led by Interior Secretary Doug Burgum is looking …
US Aims to Boost Offshore Oil Drilling by Easing Pressure Rules Read More »
April 21 (Reuters) – Oil and gas group Shell (SHEL.L) plans to complete a marine survey at Venezuela’s offshore Dragon gas field before a U.S.-set May deadline to wind down all licenses related to energy projects in the country, sources close to the preparations said. Colombia-flagged survey vessel Dona Jose II arrived in U.S.-sanctioned Venezuela …
Shell to Complete Survey at Venezuela Gas Field as License Wind-Down Approaches Read More »
The U.S. Interior Department on Friday said it would begin taking public input for a new five-year offshore oil and gas leasing program that could include new zones in the Arctic and elsewhere to maximize energy development. President Donald Trump has ordered government agencies to identify ways to increase already record high U.S. oil and …
Trump Administration Kicks Off Plan for Expanded Offshore Drilling Read More »
GEORGETOWN, April 15 (Reuters) – A consortium led by U.S. Exxon Mobil (XOM.N) is about to begin the installation of its fourth floating oil production facility in Guyana, the South American country’s maritime regulator said in a notice on Tuesday. The floating production storage and offloading (FPSO) facility ‘One Guyana,’ built by SBM Offshore (SBMO.AS) …
Exxon Consortium to Begin Installation of Floating Oil Facility in Guyana Read More »
A federal district judge ruled against the Biden administration’s sale of oil and gas drilling rights in the Gulf of Mexico, citing insufficient analysis of the sale’s potential effects on the climate and endangered whales. Summary by Bloomberg AI The judge directed additional arguments on the best remedy, which could include invalidating leases sold in …
Judge Rules Against Sale of Gulf of Mexico Oil Drilling Rights Read More »
HOUSTON, Jan 31 – U.S. oil producer Chevron used the term “Gulf of America” instead of Gulf of Mexico in its fourth-quarter press release on Friday, a sign of corporate America beginning to implement U.S. President Donald Trump’s order to rename the ocean basin. The name change was part of a flurry of executive orders Trump issued …
Oil Producer Chevron Uses Term ‘Gulf of America’ After Trump Renaming Order Read More »
