TGS, PetroAI to Develop Earth AI Models for Well Performance, Design
PetroAI’s platform for E&Ps will use TGS’ subsurface, production and well data, which allows for “accurately” quantified exploration and development trade-offs.
China Not Continuing Mega Oil-backed Loans to Latin America
China, which lent around US$120 billion to Latin America and the Caribbean between 2005-2023, isn’t expected to resume the mega oil-backing loans of yesteryear as the focus turns to debt negotiations.
Cheniere Increases Share Repurchase Budget by $4B Through 2027
Cheniere will also increase its quarterly dividend by approximately 15% to $2 per share annualized.
Oil and Corn Groups Team Up Against Biden’s Tailpipe Emissions Rules
The top U.S. oil and corn industry lobby groups said on Tuesday they were suing the administration of President Joe Biden over its plans to slash planet-warming tailpipe emissions from cars and trucks, arguing the regulations will cause economic harm. The U.S. Environmental Protection Agency this spring finalized new rules for models of semi-trucks, buses …
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McDermott Secures Contract for $8.7B Hydrogen, Ammonia Project
McDermott said the project, being developed in Canada, will use wind and solar energy to produce hydrogen and ammonia.
Uncertainty at URTeC: Balancing Transition and Security
Panelists discussed the energy transition-energy security conundrum at URTeC’s opening plenary session, but may have had more questions than answers.
Oil Funds Temper Bearishness After OPEC+ Reassurance
By John Kemp (Reuters) – Portfolio investors last week repurchased some of the petroleum they had sold the week before after Saudi Arabia and its OPEC+ allies stressed any future production increases would be contingent on market conditions. Hedge funds and other money managers purchased the equivalent of 80 million barrels in the six most important …
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Berkshire Hathaway Boosts Stake in Occidental Petroleum to Nearly 29%
(Reuters) – Billionaire Warren Buffett’s Berkshire Hathaway Inc. acquired another 2.95 million shares in Occidental Petroleum , a regulatory filing showed, bringing his stake in the U.S. oil producer’s common stock to nearly 29%. Berkshire disclosed in a U.S. Securities and Exchange Commission filing on Monday that it paid about $176 million in three separate purchases of …
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Grow Canada! Increased Production Boosts Energy Security
U.S. refineries drink in heavy crude, but domestic politics are always a hurdle.
U.S. Judge Dismisses Exxon Case Against Activist Investor Over Proxy Filing
(Reuters) – A U.S. judge on Monday dismissed a lawsuit Exxon Mobil had filed against activist group Arjuna Capital after the group had agreed not to pursue future proxy filings at the company’s annual meetings. The lawsuit by the largest U.S. oil company had raised alarm among activists and public pension investors who argued it would muzzle …
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