(Oil & Gas 360) – The proposed $50 billion+ merger between Hess and Chevron is attracting the Federal Trade Commission’s (FTC) attention. John Hess, CEO of the Hess Oil Company, is the latest oil and gas CEO to face Federal Trade Commission allegations involving what it contends were improper communications with the Organization of Petroleum Exporting Countries (OPEC). The FTC contends
(CNBC) – Washington — The Supreme Court on Friday allowed the Environmental Protection Agency to continue enforcing for now a new rule that set more stringent standards on emissions of mercury and other toxic metals from coal-fired power plants. The court declined a request for emergency relief sought by nearly a dozen states and the energy sector, which had argued the EPA’s new standards
(World Oil) – Chevron Corp. agreed that Hess Corp. Chief Executive Officer John Hess won’t join the company’s board as part of an agreement with the U.S. Federal Trade Commission, allowing the companies’ merger to proceed, people familiar with the matter said. The condition allows Chevron to move forward with its $53 billion acquisition of Hess, said the
World Oil (WO) — The American Petroleum Institute (API), EnerGeo Alliance, the National Ocean Industries Association (NOIA), and Chevron U.S.A. Inc. have appealed a recent court ruling that invalidated the National Marine Fisheries Service’s (NMFS) Biological Opinion for the Gulf of Mexico. The decision, effective Dec. 20, could halt both new and ongoing oil and gas operations in the region.
World Oil (Bloomberg) – Chevron Corp.’s $53 billion proposed takeover of Hess Corp. suffered another setback as an arbitration hearing to settle an ownership dispute with Exxon Mobil Corp. won’t be held until next year. The international arbitration panel handling Exxon’s claim that Chevron’s acquisition does not give it the right to control Hess’ stake in a Guyanese oil project
World Oil (WO) — Leading national energy associations have expressed strong backing for the Energy Permitting Reform Act of 2024, introduced by Senate Energy & Natural Resources Chairman Joe Manchin (I-WV) and Ranking Member John Barrasso (R-WY). This bipartisan bill aims to enhance American energy security by expediting the permitting process for key energy and mineral projects. Representatives from the
U.S. News WASHINGTON – The top two lawmakers on the Senate energy committee on Monday introduced long-awaited legislation to speed permitting of power transmission, mining and liquefied natural gas export projects. Senators Joe Manchin, an independent who caucuses with Democrats, and John Barrasso, a Republican, said their bill would strengthen the power grid and help keep power prices low. WHY
World Oil (Bloomberg) – The U.S. Federal Trade Commission is investigating whether executives at major oil companies including Hess Corp., Occidental Petroleum Corp. and Diamondback Energy Inc. improperly communicated with OPEC officials. FTC investigators are looking for evidence of executives attempting to collude with OPEC officials on oil market dynamics, according to people familiar with the matter who asked not
Yahoo Finance Trinidad and Tobago’s High Court reaffirmed on Thursday a decision recognizing U.S. oil producer ConocoPhillips’ arbitration claim against Venezuela, which could freeze the Caribbean country’s payments to its neighbor for joint natural gas projects. In late May, the court’s original decision opened the door for ConocoPhillips to enforce in that country a $1.33 billion claim against Venezuela for
U.S. News WASHINGTON – The Biden administration is seeking input on whether to add more areas for protection from oil and gas drilling in Alaska’s National Petroleum Reserve, the Interior Department’s Bureau of Land Management announced on Friday. The BLM will take public comment on whether to update protected areas in the Western arctic, including whether to create new protected
World Oil (WO) – According to Reuters, a three-person arbitration panel has been finalized to address ExxonMobil’s claim against Chevron’s $53 billion purchase of Hess Corp over oil-rich assets offshore Guyana. This marks a significant step in resolving the uncertainty surrounding the merger, which Chevron and Hess hoped to complete in early 2024. ExxonMobil filed the claim with the International
World Oil (Bloomberg) – A federal judge halted Joe Biden’s temporary moratorium on new licenses for exports of U.S. liquefied natural gas (LNG), though the decision is unlikely to immediately jump start approvals. U.S. District Judge James D. Cain Jr. in Louisiana issued a preliminary injunction Monday in a lawsuit filed by 16 states, which argued Biden violated federal law
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