August 7, 2023 – Oil & Gas 360

Chevron expands DJ, Permian basin footprint with PDC Energy acquisition

August 7, 2023

World Oil (WO) — Chevron Corporation announced that its acquisition of PDC Energy, Inc. has been completed following approval by PDC Energy shareholders. “We’re pleased to welcome PDC Energy into Chevron,” said Bruce Niemeyer, Chevron’s president for Americas Exploration & Production. “Our companies have similar cultures, with a focus on safe and reliable operations, teaming to deliver results, and

Bolivia makes major oil, natural gas discovery

August 7, 2023

World Oil (WO) – Bolivia’s state-run oil company Yacimientos Petrolíferos Fiscales Bolivianos (YPFB) made a natural gas discovery at the Remanso-X1 well. The new reservoir will generate approximately $5 billion in gas revenue for the country. “The well is undergoing condensate production tests (48° API). These results will allow it to be classified as the discoverer of a new hydrocarbon

Siemens Energy reviews wind business after earnings hit

August 7, 2023

Oil Price Siemens Energy has initiated a review of its wind business after taking a large hit to earnings and expected full-year revenues and profits due to problems at its unit Siemens Gamesa, one of the largest wind turbine makers in the world. “Our third-quarter results demonstrate the challenges in turning around Siemens Gamesa,” Christian Bruch, President and CEO

Canada government body guarantees up to $2.2 billion fresh loan to Trans Mountain expansion project

August 7, 2023

Investing A Canadian government agency has guaranteed fresh commercial loans of up to C$3 billion ($2.2 billion) to the controversial Trans Mountain pipeline expansion project that has suffered repeated cost overruns. The information disclosed by Export Development Canada (EDC) showed that a new loan guarantee of C$2.75-C$3 billion was signed in July, though it first appeared on EDC’s website late

Saudi Aramco Q2 profits slump nearly 40% on lower realized crude oil prices

August 7, 2023

2023-08-07 11:26:47 ET Aug. 7 (UPI) — Saudi Aramco, the state oil giant of OPEC leader…

Aramco boosts dividend as Q2 profit drops 38% to $30.1 billion

August 7, 2023

Yahoo Finance DUBAI – Saudi state oil giant Aramco on Monday announced an additional near $10 billion dividend, most of which will go to the government, the first of several extra payouts on top of its expected $153 billion base dividend for 2022 and 2023. Aramco will begin paying performance-linked dividends with a $9.87 billion payout in the third quarter,

Oil dips after sustained rally bolstered by supply cuts

August 7, 2023

CNBC Oil prices edged lower following a protracted rally, but retained support from pledges by top producers Saudi Arabia and Russia to extend supply cuts through September. Both global benchmarks notched up their sixth consecutive weekly gains last week. On Monday, Brent crude futures slipped 63 cents to $85.61 a barrel by 1217 GMT, while U.S. West Texas Intermediate crude was

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