Targa Resources Corp. to Participate in 21st Annual Energy Infrastructure CEO & Investor Conference
May 20, 2024
HOUSTON, May 20, 2024 (GLOBE NEWSWIRE) — Targa Resources Corp. (NYSE: TRGP) (“Targa” or the “Com…
ADNOC buys 12% stake in Rio Grande LNG
May 20, 2024
Oil Price ADNOC has bought an 11.7% stake in Phase 1 of NextDecade’s Rio Grande LNG export project in Texas, Abu Dhabi’s national oil company said on Monday, announcing its first strategic investment in the U.S. The state energy firm of the United Arab Emirates (UAE) has also signed a 20-year LNG offtake agreement from Rio Grande LNG Train 4 with NextDecade.
Hess investors advised by Glass Lewis to back $53 billion Chevron acquisition
May 20, 2024
World Oil (Bloomberg) – Chevron Corp.’s $53 billion deal to buy Hess Corp. received a nod of support from a major proxy advisory firm that said shareholders should vote in favor of it. Glass Lewis & Co. issued a report on Thursday saying that while some aspects of the merger are less than ideal, Hess shareholders will have the opportunity
Biggest U.S. pension fund to vote against Exxon board
May 20, 2024
Oil Price (Bloomberg) — Calpers, the largest state public pension fund in the US, will vote against all Exxon Mobil Corp. directors, saying the oil giant is undermining shareholder rights. The United States’ largest pension fund, CalPERS, will vote against the ExxonMobil board at the upcoming May 29 board meeting, in a move designed to block the supermajor’s attempt to
Oil and gas trade groups sue BLM over “deficient” final leasing rule
May 20, 2024
World Oil (WO) – The Western Energy Alliance, the Independent Petroleum Association of New Mexico, New Mexico Oil and Gas Association, North Dakota Petroleum Council, Petroleum Association of Wyoming, and Utah Petroleum Association filed a lawsuit challenging the Bureau of Land Management’s (BLM) Fluid Mineral Leases and Leasing Process rule in the U.S. District Court for the District of Wyoming.
Analysis-US refiners reward shareholders with big returns despite softer Q1 profits
May 20, 2024
U.S. News NEW YORK (Reuters) – Major U.S. fuel makers returned billions in capital to shareholders in the first quarter and boosted share repurchase programs, even as refining margins softened from recent records and utilization rates fell. Three of the biggest U.S. independent oil refiners – Marathon Petroleum, Phillips 66, and Valero Energy – earned combined adjusted profits of $2.93
Analysis-Global oil markets weaken as sluggish demand leaves overhang
May 20, 2024
Yahoo Finance LONDON – Global physical crude oil markets are weakening because of soft refinery demand and ample supply, traders and analysts told Reuters, in a move that could spell further weakness for benchmark crude futures. The weakness indicates high interest rates and inflation are depressing consumer and industrial demand, especially in Europe, at a time when supply is rising
