December 31, 2024

Carlos Slim invested $1B in American oil & gas companies in 2024

December 31, 2024

(Oil Price) – Carlos Slim, Latin America’s richest man, boosted his stakes in American energy companies in the current year as the world’s leading tycoons continue betting on fossil fuels. Slim invested $602 million in Parsippany, New Jersey-based refiner PBF Energy Inc. (NYSE:PBF), boosting his stake to 25%, and also bought $326 million worth of shares in Houston-based oil producer Talos Energy Inc.(NYSE:TALO). Last

Sinopec releases first sustainable development report in Algeria

December 31, 2024

(World Oil) – China Petroleum & Chemical Corporation (Sinopec) has released the first sustainability report published by a Chinese company in Algeria, detailing its achievement in fulfilling economic, safety, environmental, and social responsibilities in the region and advancing the vision of New Algeria. Algeria is the largest country in Africa with the fourth largest economic output. Sinopec adheres to the vision

Judge in Citgo share auction rejects bid to block Gramercy fund lawsuits

December 31, 2024

(Investing) – HOUSTON – Lawsuits by three firms seeking to improve their chances of obtaining proceeds in an auction of shares in Citgo Petroleum’s parent can go ahead, a U.S. judge ruled in an order issued on Monday. The decision could reduce the proceeds of any sale, the court officer overseeing the auction in federal court in Delaware had said in

Ecopetrol acquires Repsol’s onshore Colombia asset to increase production by 7,000 bopd

December 31, 2024

(World Oil) – Ecopetrol S.A. announces that they have successfully concluded negotiations with Repsol to acquire the remaining 45% of its stake in block CPO-09, located in the Meta department. With this transaction, Ecopetrol becomes the sole owner of this strategic asset in the Piedemonte Llanero. This block is located in the municipalities of Villavicencio, Acacías, Guamal, Castilla La Nueva,

Europe’s Russian gas era comes to an end as Ukraine transit stops

December 31, 2024

MOSCOW – Russian gas supplies to Europe via Ukraine are set to end on New Year’s Day, bringing down the curtain on Moscow’s long period of dominance of supply in the European gas market. Russia’s oldest gas export route to Europe – a pipeline dating back to Soviet days – was set to shut at the end of 2024, as

Ample supply, slow demand to temper oil price gains in 2025: Reuters poll

December 31, 2024

(Investing) – Oil prices are likely to be constrained near $70 a barrel in 2025 as weak demand from China and rising global supplies are expected to cast a shadow on OPEC+-led efforts to shore up the market, a Reuters monthly poll showed on Tuesday. The survey of 31 economists and analysts predicted that Brent crude would average $74.33 per barrel in 2025,

Carlos Slim invested $1B in American oil & gas companies in 2024

Sinopec releases first sustainable development report in Algeria

Judge in Citgo share auction rejects bid to block Gramercy fund lawsuits

Ecopetrol acquires Repsol’s onshore Colombia asset to increase production by 7,000 bopd

Europe’s Russian gas era comes to an end as Ukraine transit stops

Ample supply, slow demand to temper oil price gains in 2025: Reuters poll

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