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By Kevin Crowley An Exxon Mobil Corp. oil drilling rig near Stanton, Texas. Photographer: Justin Hamel/Bloomberg Exxon Mobil Corp. will pursue fossil fuel growth long into the future to meet demand it says will “not materially change” between now and 2050. The Texas oil major is not concerned with “chasing the narrative of the week” …
Exxon Says Energy Demand Makes Case for Fossil Fuel Growth Read More »
Drones hit major oil sites in Bashkortostan and Volgograd Salavat complex working as usual – TASS Some Russia’s regions face fuel shortages KYIV/MOSCOW, Sept 18 (Reuters) – Ukraine said on Thursday that its drones had struck a major oil processing and petrochemical complex and an oil refinery in Russia, part of an intensifying campaign to …
Ukrainian Drones Target Russian Petrochemical Complex and Oil Refinery Read More »
Exxon Mobil is seeing benefits to its bottom line with the use of artificial intelligence, including by drilling wells more quickly, Dan Ammann, Exxon’s president of upstream, said on Thursday. The U.S. oil producer is also using AI to help remotely monitor some operations, Ammann said while speaking at the BNEF Summit in Houston.
By Ron Bousso Chinese oil storage increasingly vital for market, but data is obscure IEA, OPEC offer widely divergent estimates for oil demand growth Growing sanctions-busting fleet of tankers complicates oil tracking LONDON, Sept 18 (Reuters) – Growing blind spots in the oil market driven by geopolitics are making it harder to determine the true …
COMMENTARY: Oil Market Blind Spots Give Traders a Nasty Headache – Ron Bousso Read More »
Summary Brent, WTI oscillated between gains and losses in European trading Fed chair highlighted concerns about job market Market concerned by rising supply, US demand concerns (Reuters) – Oil prices edged higher on Thursday after the Federal Reserve cut interest rates as traders weighed the start of looser monetary policy against concerns about the U.S. …
Oil Edges Higher as Traders Weigh Rate Cut With Worries over US Economy Read More »
U.S. oil major Exxon Mobil has no plans to resume operations in Russia, Chief Executive Darren Woods told the Financial Times in an interview on Thursday. The company pulled out of Russia in 2022 after Western sanctions were imposed over Moscow’s invasion of Ukraine, writing off billions of dollars from its exit. Exxon executives are …
“NYET” – Exxon Mobil Has ‘No Plans’ to Re-Enter Russia, Financial Times Reports Read More »
By Anthony Di Paola and Keira Wright Abu Dhabi National Oil Co. dropped its planned $19 billion takeover of Australian natural gas producer Santos Ltd., walking away from an ambitious effort to expand overseas after failing to agree on key terms. A “combination of factors” discouraged the company’s XRG unit from making a final bid, …
Abu Dhabi’s XRG Walks Away From $19 Billion Santos Takeover Read More »
By Alex Longley The world needs to spend some $540 billion a year looking for oil and gas to maintain current output by 2050 as the pace of declines in existing fields increases, according to the International Energy Agency. Faster decline rates, in part because of an increased global dependency on US shale, mean that …
World Must Spend $540 Billion a Year Looking for Oil and Gas, IEA Says Read More »
Poland has urged European Union member states that are still buying Russian energy to end those imports by the end of 2026 and will offer them help towards that effort, Energy Minister Milosz Motyka said on Wednesday. The Druzhba oil pipeline delivers Russian oil to Hungary and Slovakia, which continue to buy energy supplies from …
Poland Urges EU to End Russian Oil Imports by 2026, Citing Geopolitical Risks Read More »
Sept 16 – WaterBridge Infrastructure raised $634 million in an initial public offering in the United States, the oilfield water management firm said on Tuesday, in the latest sign of renewed momentum in the listings market. The Houston, Texas-based company sold 31.7 million shares at $20, at the higher end of its marketed range of …
Five Point-Backed WaterBridge Raises $634 Million in US IPO Read More »
