Friday, November 22, 2024

Oil Jumps then Dives on Skepticism over Cuts, Natural Gas Falls on Warmer Forecasts

OPEC Compliance Remains Primary Concern for WTI WTI futures opened the year by dropping 2.4% to $52.33 per barrel as the U.S. dollar reached its highest level since 2002. Brent contracts also fell to settle at $55.47. The drop followed a busy morning where both contracts opened at their highest levels since July 2015 on optimism that OPEC and other

Permian: Delek U.S. to Acquire Alon USA for $464 Million

Merged Company Will Focus on Supporting Permian Basin Production Delek US Holdings (ticker: DK) has announced that it will buy the shares of Alon USA Energy Inc. (ticker: ALJ) that it does not already own. The move is intended to increase its exposure to low-cost crude oil produced from the Permian Basin. The resulting company will feature refining, logistics, retail,

Alberta Royalty Rates will Remain Largely Unchanged Except for One Change…

New incentives program designed to reward efficient drillers Alberta’s provincial government has decided to leave royalty rates largely unchanged after the leadership ran on a platform that promised to change rates to ensure the province was receiving its fair share. Alberta Premier Rachel Notley said that if the review found the timing was wrong to raise royalty rates, her party