Sunday, December 22, 2024
BP CEO’s exit brings strategic impasse to a head- oil and gas 360

BP CEO’s exit brings strategic impasse to a head

Yahoo Finance The abrupt resignation of BP chief Bernard Looney marks the loss of an executive who pushed for a transition to clean energy more aggressively than any of his industry peers, with mixed results. BP said Tuesday that the 53-year-old chief executive officer was departing after failing to fully disclose to the company board some of his past relationships with

Saudi oil production cuts to deepen rift with U.S.- oil and gas 360

Saudi oil production cuts to deepen rift with U.S.

Oil Price Last week, Brent crude topped $90 per barrel for the first time since last November, and WTI climbed to an 11-month high, too. The reason: Saudi Arabia and Russia said they would extend their oil supply cuts until the end of the year. The decision was hardly unexpected. What was unexpected was the length of the extension. It

IEA: OPEC+ production cuts to send oil prices and volatility surging- oil and gas 360

IEA: OPEC+ production cuts to send oil prices and volatility surging

Oil Price Oil prices are set for a surge in volatility amid an expected “significant supply shortfall” on the market in the fourth quarter of 2023, due to the Saudi-led cuts to OPEC+ oil supply, the International Energy Agency (IEA) said on Wednesday. So far this year, higher crude oil production from countries outside the OPEC+ alliance has managed to

Evolution Petroleum and PEDEVCO Enter into Strategic Partnership to Jointly Develop PEDEVCO’s Chaveroo Field in the Permian Basin- oil and gas 360

Evolution Petroleum and PEDEVCO Enter into Strategic Partnership to Jointly Develop PEDEVCO’s Chaveroo Field in the Permian Basin

Oil and Gas 360 HOUSTON, Sept. 13, 2023 (GLOBE NEWSWIRE) — Evolution Petroleum Corporation (NYSE American: EPM) (“Evolution”) and PEDEVCO Corp. (NYSE American: PED) (“PEDEVCO”) today announced entry into a definitive Participation Agreement to jointly develop PEDEVCO’s Chaveroo oilfield in the Northwest Shelf (“NWS”) of southeastern New Mexico, a conventional oil-bearing San Andres field in the Permian Basin located in

Chevron acquires majority interest in world’s largest hydrogen storage project in Utah- oil and gas 360

Chevron acquires majority interest in world’s largest hydrogen storage project in Utah

World Oil WO) – Chevron U.S.A. Inc., through its Chevron New Energies division, has closed a transaction with Haddington Ventures to acquire 100% of Magnum Development, LLC, and thus a majority interest in ACES Delta, LLC, which is a joint venture between Mitsubishi Power Americas, Inc. and Magnum Development. ACES Delta is developing the Advanced Clean Energy Storage project in

U.S. crude oil inventories increase by 0.5 million barrels- oil and gas 360

U.S. crude oil inventories increase by 4.0 million barrels

Weekly Crude Oil Storage as of September 8, 2023     U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 4.0 million barrels from the previous week.  At 420.6 million barrels, U.S. crude oil inventories are about 2% below the five year average for this time of year, according to the EIA crude oil and