Oil

Ovintiv said on Tuesday it would buy the rest of NuVista Energy in a cash-and-stock deal valued at $2.7 billion, including debt, strengthening the shale producer’s presence in Canada’s Montney basin. Last year, the North American company had acquired oil assets from Canadian firm Paramount Resources in the Montney shale for $2.38 billion in cash. “This acquisition, combined with the …

Ovintiv Expands in Canada’s Montney Shale with USD $2.7 Billion Deal for NuVista Read More »

 *CEO says Paris Agreement climate goals out of reach*Oil demand expected at 98 million barrels per day in 2050 *Demand forecast has risen versus last year’s report *CEO cites concern over energy security, prices By America Hernandez PARIS, Nov 4 – French oil major TotalEnergies sees global oil demand rising through 2040 before gradually dropping off, as …

TotalEnergies Sees Oil Demand Rising Until 2040 as Energy Security Outweighs Climate Concerns Read More »

(Reuters) – Venezuela’s oil exports declined 26% to some 808,000 barrels per day in October as the country’s stocks dwindled and it imported smaller volumes of diluents to produce exportable crude grades, according to shipping data and documents from state firm PDVSA. The OPEC country’s exports had reached a five-year high in September after being …

Venezuela’s Oil Exports Fall Over Lower Inventories, Imports Read More »

Oil supply growth outside OPEC+ could decline by April, while demand remains robust, BP’s Chief Executive Murray Auchincloss said on Monday. “There is a supply increase that’s come outside of OPEC+,” Auchincloss said. “We think that finishes in about February, March, April, and then it’s likely that we see flat to declining production after that …

BP CEO Expects Non-OPEC+ Oil Supply Growth Could Decline by April Read More »