December 20, 2024 – Oil & Gas 360

Exclusive-Northern Oil and Gas in bid to acquire smaller rival Granite Ridge, sources say

December 20, 2024

(Yahoo Finance) – Northern Oil and Gas has made an acquisition offer for Granite Ridge Resources, a smaller U.S. producer with operations in basins including the Permian and Eagle Ford, according to people familiar with the matter. Minneapolis, Minnesota-based Northern has submitted at least two offers for Granite Ridge, the sources said, adding the latest bid, made in recent weeks, was

Data centers are eating the grid alive

December 20, 2024

(Oil Price) – The future of data centers is about to make a huge draw on the power grid. According to a DOE-backed report from Lawrence Berkeley National Lab, U.S. data center energy use could nearly triple by 2028, eating up as much as 12% of the country’s electricity. Why? Blame AI and its insatiable hunger for powerful chips and energy-guzzling

Renewables growth won’t go away under Trump

December 20, 2024

(Oil Price) – The rise of data centers and their quest for renewable energy to power AI technology will boost the growth of renewables even under President Donald Trump, the Americas head of Japan’s biggest bank, Mitsubishi UFJ Financial Group, told Reuters. “The new administration will be more constructive on fossil fuels, but that doesn’t mean renewables go away,” Kevin Cronin,

Trump threatens EU with tariffs over oil and gas imports

December 20, 2024

(Investing) – U.S. President-elect Donald Trump said on Friday the European Union should step up U.S. oil and gas imports or face tariffs on the bloc’s exports that include goods such as cars and machinery. The EU already buys the lion’s share of U.S. oil and gas exports, according to U.S. government data. No extra volumes are currently available as the

Expro wins $10 million contract for plug and abandonment campaign

December 20, 2024

(World Oil) – Energy services provider Expro has been awarded a contract valued at over $10 million for the provision of a well decommissioning solution. The solution combines subsea safety systems and surface processing design to enable both safe entry to the well and effective management of well fluids. From its global support hub in Aberdeen, Expro will provide

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 20, 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 25 over last week, resulting in a total Canadian count of 166 rigs. Breakdown by region Of the regions tracked by Baker Hughes, the Utica and the Mississippian regions experienced an

Turmoil at Colombia’s Ecopetrol raises profit fears ahead of US investment decision

December 20, 2024

(Yahoo Finance) – BARRANCABERMEJA, Colombia – Alleged interference by Colombian President Gustavo Petro in majority state-owned Ecopetrol and purges of hundreds of staff to make way for pro-government replacements are fueling fears about the energy company’s future profits and contributions to the economy. The worries, according to interviews with workers, ex-employees, a former board member and analysts, come ahead of

Oil prices fall, heading for weekly losses on demand concerns

December 20, 2024

(Investing) – Oil prices fell Friday, heading for a hefty weekly loss and pressured by a stronger dollar and continued demand concerns, especially in top crude importer China. A 08:55 ET (13:55 GMT), Brent oil futures expiring in February fell 0.5% to $72.43 a barrel, and West Texas Intermediate crude futures fell 2.4% to $68.91 a barrel. Oil heads for weekly losses amid dollar pressure Both

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