(Investing) – NEW YORK – Global commodities trader Vitol is exploring a sale of its VTX Energy Partners business, in a deal that could value the U.S. shale oil and gas producer at as much as $3 billion, including debt, people familiar with the matter said. The move aims to capitalize on the fact that the VTX oil and gas business
(Oil Price) – The United States’ Department of Justice has filed a civil lawsuit at a district court in D.C. for the forfeiture of $47 million in proceeds from the sale of some 1 million barrels of Iranian oil that went to Iran’s Islamic Revolutionary Guard Corps and the Qods Force. The U.S. seized the oil last year and sold it, making $47
(World Oil) – The RRC’s long history of common sense, science-based regulation of the oil and gas industry has safeguarded Texas communities and the environment while also fostering responsible production benefitting the state economy and America’s energy independence. The Texas oil and gas industry continued a hot streak in 2024 with production volumes surpassing records that were set in 2023. The
(Oil Price) – In recent years, interest in developing the U.S. nuclear power capacity has grown. Under the Biden administration’s push for a green transition, more companies were encouraged to invest in clean energy. In addition, the power demand is expected to grow much more rapidly than previously thought, as the tech sector drives demand with plans to construct huge data centres. This,
(BOE Report) – U.S. oil producers are grappling with geological limits to production growth as the country’s top oilfield ages and produces more water and gas and less oil – and may be nearing peak output. The Permian basin was the centerpiece of the shale revolution that began nearly two decades ago and spurred the U.S. to become the world’s
(World Oil) – Executives at U.S. shale companies expect President Donald Trump’s 25% steel import tariffs to lead to lower activity in the shale patch, according to the latest energy survey from the Federal Reserve Bank of Dallas. The average price for West Texas Intermediate that companies need to profitably drill rose to $65 a barrel, up from $64 from
(Investing) – The United States reached separate deals on Tuesday with Ukraine and Russia to halt attacks at sea and against energy targets, with Washington agreeing to push to lift some sanctions against Moscow. The potential easing of U.S. and EU sanctions in the event of a peace deal between Russia and Ukraine has raised the question over what happens to
Natural Gas Inventories as of March 21, 2025 The EIA has released its natural gas inventory report, showing a net increase of 37 Bcf as of March 21, 2025. Working gas in storage was 1,744 Bcf as of Friday, March 21, 2025, according to EIA estimates. This represents a net increase of 37 Bcf from the previous week. Stocks were
(Investing) – The U.S. energy sector has had a strong start to 2025, despite macro uncertainty, and Morgan Stanley has updated its models to reflect this. Despite generally cautious investor sentiment on oil markets, the energy sector has had a strong start to 2025, rising 8% year-to-date, outperforming the S&P 500 index by around 10%, according to analysts at Morgan Stanley, in a
(Oil Price) – U.S. supermajor Chevron has expressed interest in oil and gas exploration in two additional offshore blocks south of the Greek island of Crete, Greece’s Ministry of Energy and Environment said on Wednesday. Earlier this year, Greece said that Chevron had expressed interest in exploring the area southwest of the Peloponnese peninsula and to the west of the island of Crete. Now, Chevron
(BOE Report) – Phillips 66 is expected to nominate two new directors to its board as the proxy fight with activist Elliott Investment Management intensifies, the Wall Street Journal reported on Wednesday citing people familiar with the matter. The refiner is set to disclose four nominees, including the two new ones, in its proxy materials Wednesday morning and will be
(Oil Price) – Chinese gas and clean energy distribution firm ENN Energy Holdings Limited has been valued at around US$11.6 billion (HK$90.50 billion) under a privatization offer from another ENN affiliate, the companies involved in the proposed transaction said on Wednesday. Under the proposed deal, ENN Natural Gas – one of the affiliate companies of ENN Energy part of the ENN Group of
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