(World Oil) – Chevron Corp. agreed that Hess Corp. Chief Executive Officer John Hess won’t join the company’s board as part of an agreement with the U.S. Federal Trade Commission, allowing the companies’ merger to proceed, people familiar with the matter said. The condition allows Chevron to move forward with its $53 billion acquisition of Hess, said the
(Oil & Gas 360) – Despite some of the highest electricity prices in the world, the United Kingdom is relegating coal to the ash heap of history as it closes the doors on the Ratcliffe-on-Soar Power Station in north-central England. The plant was commissioned in 1970 with a net electrical output of 2,000 megawatts. October 1 will mark the
Oil and Gas 360 This week’s Baker Hughes Rig Count shows that U.S. had a decrease of 1 over last week, resulting in a total count of 587 rigs. Canada had an increase of 7 over last week, resulting in a total Canadian count of 218 rigs. Breakdown by region Of the regions tracked by Baker Hughes, no regions
(BOE Report) – U.S. natural gas futures held near a three-month high on Friday as Hurricane Helene battered the U.S. Southeast after causing Gulf of Mexico producers to cut output and millions of power outages in Florida, Georgia and the Carolinas. On its first day as the front-month, gas futures for November delivery on the New York Mercantile Exchange were
(Oil Price) – TotalEnergies on Friday announced a deal to buy a 45% stake in dry gas-producing assets owned and operated by Lewis Energy Group in the Eagle Ford basin in Texas, growing its gas production business and boosting its LNG portfolio. The assets that TotalEnergies is buying are located in Southwest Texas and have the potential to be developed to reach a
(BOE Report) – Crude output by Pemex fell in August as Mexico’s national oil company failed to reduce fuel imports in line with company targets, while overall falling well short of the lofty energy trade goals of the country’s outgoing president. While locally produced petroleum product volumes rose during the month, gasoline and diesel import volumes were still much higher
(World Oil) – Palantir Technologies Inc. and APA Corporation announced a multi-year, multi-million-dollar extension to their enterprise agreement originally signed in 2021. The agreement builds on the work deployed across APA’s global portfolio over the past three years and introduces new artificial intelligence capabilities with Palantir’s Artificial Intelligence Platform (AIP) software. Over the past three years, Palantir has partnered with
HOUSTON (Reuters) – Rising U.S. crude oil exports are boosting the prominence of Gulf Coast price benchmarks and buoying trading volumes on Houston contracts, eroding the significance of the Cushing, Oklahoma, storage hub. Since U.S. WTI Midland crude oil transactions joined the dated Brent price assessment a year ago, U.S. oil exports have overshadowed the role of Cushing as a
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