(Oil Price) – Big Oil majors are bracing for a drop in income from liquefied natural gas trade as prices are seen stabilizing after the price surge from the past three years, the Financial Times has reported, citing analysts. Among the companies most affected, the analysts named Shell, BP, TotalEnergies, Exxon, and Chevron, all of which have big LNG trading businesses that
(BOE Report) – Kuwait’s oil production capacity now exceeds 3 million barrels per day, Kuwait Petroleum Corporation (KPC) CEO Sheikh Nawaf Saud al-Sabah told reporters on Tuesday. The country’s oil production capacity was at more than 2.8 million bpd in June last year, Ahmad Jaber Al-Eidan, the CEO of KPC subsidiary Kuwait Oil Company (KOC), said at the time. Kuwait aims
(Investing) – DAVOS, Switzerland -Saudi oil giant Aramco (TADAWUL:2222)’s Chief Executive Amin Nasser said on Tuesday he sees the oil market as healthy and expects an additional 1.3 million barrels per day of demand this year. Speaking to Reuters on the sidelines of the World Economic Forum in Davos, Nasser was responding to a question on the impact of U.S. President
(BOE Report) – Infinity Natural Resources is targeting a valuation of up to $1.24 billion in its initial public offering, joining a bunch of energy industry companies that have rushed to list their shares in recent months. The company, which first filed its IPO paperwork in October, said on Tuesday it is aiming to raise up to $278.25 million through
(Investing) – The pace of U.S. upstream public-to-public mergers could slow in 2025 from their recent average of five per year along with a fall in deal sizes, according to a report from energy analytics firm Enverus that was released on Tuesday. The consolidation trend in the U.S. energy sector, which triggered deals amounting to $250 billion in 2023, stretched into
(Oil Price) – U.S. President Donald Trump signed on his first day in office an executive order to unleash America’s energy by easing the barriers to oil and gas extraction and production and revoking a series of climate orders by President Biden. As pledged in the campaign and widely expected to take place on President Trump’s first day in office, the executive order
(Investing) – BRUSSELS/LONDON – A second U.S. withdrawal from the world’s primary climate pact will have a bigger impact – in the U.S. and globally – than the country’s first retreat in 2017, analysts and diplomats told Reuters. One of President Donald Trump’s first acts on returning to office on Monday was to quit the Paris Agreement as part of his
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