World Oil (WO) – Talos Energy Inc. and its Mexican subsidiary announced the closing of the sale of a 49.9% interest in Talos Mexico to Zamajal, S. A. de C.V., a wholly-owned subsidiary of Grupo Carso (“Carso”). Talos received $74.85 million in cash at closing, with an additional $49.90 million due upon first production, for an aggregate price of $124.75
Nasdaq Rapid electrification poses risks to power grids across the United States that are straddling the twin goals of decarbonizing the sector and maintaining reliable supply, grid operators told U.S. lawmakers on Thursday. Appearing before the Energy, Climate, and Grid Security Subcommittee of the U.S. House of Representatives, officials from all seven of the country’s grid operators said multiplying electricity demand will
Oil Price ExxonMobil and its partner Hess Corp have withdrawn from the Kaieteur exploration block offshore Guyana as they pursue more prolific opportunities in the bigger and highly productive Stabroek block. “Our withdrawal from the Kaieteur block has no impact on our commitment to seeking further exploration and development opportunities and to generating additional value for the government and people
World Oil (WO) – Amazon Web Services, Inc. (AWS) announced five generative artificial intelligence (AI) innovations, so oil and gas organizations of all sizes can build new generative AI applications, enhance employee productivity, and transform their businesses. The announcement includes the general availability of Amazon Bedrock, a fully managed service that makes foundation models (FMs) from leading AI companies available
Oil Price Despite a sharp drop on Thursday, oil prices are set for another weekly gain as well as a monthly one driven by tight supply coupled with perhaps surprisingly resilient demand. Bloomberg attributed the Thursday drop to technical resistance as well as speculation that Saudi Arabia may start rolling back the cuts if prices rose too high. Theoretically, that may be
World Oil (Bloomberg) – NG Energy International Corp. expects an eight-fold boost in its natural gas production in Colombia after a new field begins production next year. The Toronto-based company sees its natural gas production rising to 60 MMcfd in the third quarter of 2024 as its Sinu-9 block comes online in the Lower Magdalena basin, according to Chief Financial
Nasdaq The Biden administration on Friday unveiled a plan to phase down oil and gas auctions in federal waters with the release of a long-awaited leasing schedule that includes a maximum of three sales in the Gulf of Mexico through 2029. The Interior Department’s plan includes by far the lowest number of sales since the agency began producing Congressionally-mandated five-year
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