Inpex to Acquire Renewable Energy Portfolio in Australia
Inpex Corp.’s JV will acquire a 4-gigawatts portfolio that includes wind, solar and battery energy storage system assets in Australia.
EIA’s Three-Figure NatGas Withdrawal Beats Market Expectations
Natural gas storage levels are likely to remain below the U.S. Energy Information Administration’s five-year average in 2025 as demand increases for LNG, analysts said.
Gas-Fired Power Plant Announced Close to Austin, Texas
The project, to be built by Argan subsidiary Gemma Power Systems, is expected to hook up to the ERCOT grid in 2028.
Ecopetrol Closes $452MM Deal for Repsol’s Interests in Colombian Block
Ecopetrol has completed a deal with Repsol Colombia Oil & Gas Ltd. to acquire its 45% participation interest in CPO-09 Block—assets GeoPark Ltd. had originally proposed buying.
ConocoPhillips Reports Fourth-Quarter and Full-Year 2024 Results; Announces 2025 Guidance and Quarterly Dividend
Completed the acquisition of Marathon Oil, adding high-quality, low cost of supply inventory adjacent to the company’s leading U.S. unconventional position. Reported fourth-quarter 2024 earnings per share of $1.90 and adjusted earnings per share of $1.98. Delivered 2024 preliminary reserve replacement ratio of 244% and preliminary organic reserve replacement ratio of 123%. Announced planned 2025 return …
ConocoPhillips’ Quarterly Profit Beats Estimates on Higher Production
(Reuters) – ConocoPhillips beat Wall Street estimates for fourth-quarter profit on Thursday, as higher production offset lower realized prices. Benchmark crude prices rose about 4% during the October-December quarter, encouraging companies to drill more. However, ConocoPhillips’ total average realized prices fell 10% to $52.37 per barrel of oil equivalent (boe) in the reported quarter. The …
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US Energy Secretary Derides Net-Zero Policies in New Order
(Reuters) – The U.S. Department of Energy will prioritize expanding energy production over achieving net-zero greenhouse gas emissions, according to an order issued on Wednesday by Energy Secretary Chris Wright. The secretarial order is meant to align the department with priorities outlined by President Donald Trump, who has called climate change a hoax and has …
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Total CEO Says Company Rejected Venture Global as LNG Supplier Over Lack of Trust
(Reuters) – TotalEnergies rejected opportunities to become a long-term customer of Venture Global LNG’s U.S. terminals because it did not trust the company, CEO Patrick Pouyanné told Reuters on Wednesday. Venture Global has become the most valuable U.S. LNG company after a blockbuster initial public offering last month, but has been roiled by legal challenges …
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Big Oil’s Wave of Buyouts Sets Up Next Leg of Energy IPO Rebound
Large US producers have moved to purchase competitors Energy investors have ‘lost a ton of names’ in past 18 months After a burst of oil and gas M&A deals, demand for new investment targets and buoyant natural-gas prices are helping drive a rebound in IPO activity in the energy industry to start 2025. The largest …
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Egypt Signs $3 Billion LNG Deals with Shell and TotalEnergies
(Reuters) – Egypt has signed deals worth about $3 billion with Shell and TotalEnergies to secure 60 cargoes of liquefied natural gas (LNG) to cover demand for 2025, three trading sources told Reuters. The most populous Arab country last year returned to being a of natural gas, buying dozens of cargoes and abandoning plans to …
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