Suncor Energy Closes Purchase of TotalEnergies’ Canadian Operations
November 20, 2023
All financial figures are in Canadian dollars, unless noted otherwise Calgary, Alberta–(Newsfi…
Potential Chesapeake-Southwestern merger gains support from top investor Kimmeridge
November 20, 2023
World Oil (Bloomberg) — Kimmeridge Energy Management Co., which is among the most active and outspoken U.S. oil and gas investors, said a merger of Chesapeake Energy Corp. and Southwestern Energy Co. would create one of the industry’s most sought-after stocks. “There are only a few must-own stocks in the sector, and this would ultimately be one of them,” Mark
The UAE could raise oil production regardless of OPEC+ decision
November 20, 2023
Oil Price OPEC’s third-largest producer, the United Arab Emirates (UAE), could raise its oil output next year as it has won a higher quota under the OPEC+ agreement. The UAE, OPEC’s third-biggest producer after Saudi Arabia and Iraq, said in the summer that it would not join the Saudis in making voluntary production cuts. The UAE has argued for years that it
Brent, US crude futures climb over 2% as OPEC cuts expected
November 20, 2023
Investing Brent and U.S. crude futures climbed more than 2.5%, gaining $2 a barrel on Monday, as further supply cuts in OPEC+ production are expected in the coming weeks. Brent crude futures were up $2.19 to $82.80 a barrel by 10:32 a.m. CT (1632 GMT). U.S. West Texas Intermediate crude was up $1.98, or 2.6% at $77.87. The front-month December WTI contract expires
Exclusive-Venezuela close to approving offshore gas license with Trinidad, Shell
November 20, 2023
Yahoo Finance Venezuela is close to approving a license for Shell and the National Gas Company of Trinidad and Tobago to develop a promising offshore natural gas field and export its production to the Caribbean country, two people close to the matter said. The license could set in motion a long-running effort by Trinidad to boost its gas processing and
BOEM reschedules Gulf of Mexico lease sale 261 for third time after court order
November 20, 2023
World Oil (WO) — As a result of the order issued by the United States Court of Appeals for the Fifth Circuit on Nov. 14, 2023, the Bureau of Ocean Energy Management (BOEM) has scheduled Lease Sale 261 for Dec. 20, 2023. The Gulf of Mexico oil and gas lease sale was originally scheduled for Sept. 27, 2023, and later
The White House does not expect Arab states to weaponize oil
November 20, 2023
Oil Price The United States is confident that the Arab states will not use oil supply as a weapon as they have done in the past, White House energy security adviser Amos Hochstein told the Financial Times in an interview published this weekend. “Oil has been weaponised from time-to-time since it became a traded commodity, so we’re always worried about that, working
