December 13, 2024 – Oil & Gas 360

IEA: Fracking could play a crucial role in advancing geothermal energy

December 13, 2024

(Oil Price) – Fracking techniques perfected in the U.S. shale patch could help drill for deeper and hotter geothermal energy resources and slash geothermal costs to make this low-carbon energy source competitive to other clean energy solutions, the International Energy Agency (IEA) said on Friday. Recent advances in horizontal drilling and hydraulic fracturing, “honed through oil and gas developments in North America,” are

Tullow Oil confirms talks with Kosmos Energy over potential all-share takeover

December 13, 2024

(Yahoo Finance) – Kosmos Energy has confirmed that it is in “preliminary discussion” with Tullow Oil, an independent oil and gas exploration company, regarding a potential all-share takeover offer. The announcement follows recent media reports speculating about the deal. Tullow Oil, which has faced leadership changes following the resignation of CEO Rahul Dhir on 4 December, acknowledged the approach in

Venture Global’s new plant set for first LNG production

December 13, 2024

(Oil Price) – U.S. LNG developer and producer Venture Global is set to produce the first liquefied natural gas from its newest project, Plaquemines LNG, as soon as this week, but the commissioning phase will last up to two years during which Venture Global will keep all revenues. The first production at Plaquemines LNG, possibly this week, would be the first

Trafigura net profit, equity drops after Mongolia fraud

December 13, 2024

(Investing) – LONDON – Global commodity trading house Trafigura saw a sharp drop in its earnings for 2024 and has revised down its equity and profits for previous years after it discovered a billion-dollar oil fraud in Mongolia, the company said on Friday. Earnings dropped by 60% on the year in 2024 to $2.8 billion, the lowest since 2020. Trafigura’s financial

Offshore wind in Sweden needs support, government body says

December 13, 2024

Yahoo Finance – Sweden has cancelled 13 planned offshore wind farms in the Baltic Sea on security grounds. The government in Stockholm, a new NATO member, announced on Monday that it would no longer issue any licences for the construction and operation of the farms, which were to extend off the Swedish east coast down to the Öresund strait near Denmark.

U.S. rig count had an increase of 1 this week, at 585- oil and gas 360

U.S. rig count had no change this week, at 589

December 13, 2024

This week’s Baker Hughes Rig Count shows that the U.S. had no change over last week, resulting in a total count of 589 rigs. Canada had a decrease of 3 over last week, resulting in a total Canadian count of 191 rigs. Breakdown by region Of the regions tracked by Baker Hughes, the Granite Wash, and the Haynesville regions experienced

Oil climbs 1% to 3-week high as more sanctions loom on Russia, Iran

December 13, 2024

(Investing)– NEW YORK – Oil prices edged up about 1% to a three-week high on Friday on expectations additional sanctions on Russia and Iran could tighten supplies, while lower interest rates in Europe and the U.S. could boost demand for the fuel. Brent futures rose 67 cents, or 0.9%, to $74.08 a barrel by 10:55 a.m. EST (1555 GMT). U.S. West Texas

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