Vermilion Energy Inc. announces strategic deep basin acquisition
(Oil & Gas 360) – CALGARY, AB, Dec. 23, 2024 /CNW/ – Vermilion Energy Inc. (“Vermilion”, or the “Company”) (TSX: VET) (NYSE: VET) is pleased to announce it has entered into an arrangement agreement (the “Arrangement Agreement”) to acquire Westbrick Energy Ltd. (“Westbrick”), a privately held oil and
Pemex CEO faces tough road to fix world’s most indebted major oil producer
(World Oil) – National oil companies tend to be more bloated and less efficient than their private-sector counterparts. Yet Petroleos Mexicanos, with a workforce of about 128,000, stands out even among its state-owned peers. The amount of crude Pemex pumps per employee has slipped
Landbridge completes acquisition of 46,000 acres in Delaware basin
(World Oil) – LandBridge has closed its previously announced acquisition of approximately 46,000 largely contiguous surface acres, known as the Wolf Bone Ranch, in the Delaware Basin from a subsidiary of VTX Energy Partners, LLC, a Vitol investment. The Wolf Bone Ranch acquisition strategically expands LandBridge’s position
Oil prices edge down on soft Chinese spending data
(Investing) – Oil futures dropped from their highest levels in weeks on Monday, pressured by weakness in consumer spending in China, the world’s largest oil importer. Brent crude futures fell 32 cents, or 0.4%, to $74.17 a barrel by 1300 GMT after settling on Friday
Will trump let Putin get Ukraine’s $26 trillion in gas and minerals?
(Washington Post) – Donald Trump often says that liberating Iraq without getting its oil resources was one of America’s biggest foreign policy blunders. He has a chance to avoid a similar mistake in Ukraine. Ukraine is not only the breadbasket of Europe; it is also a mineral superpower with
African Energy 2024: Surging investment, waves of change
(World Oil) – I’ve said for years that African energy is a vital investment. Backers clearly agree — to the tune of USD47 billion. That’s how much capital expenditure (capex) 2024 saw in African oil and gas, showing a 23% increase from last year.
Turmoil at Colombia’s Ecopetrol raises profit fears ahead of US investment decision
(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
Note on the news: Old lines in the sand
(Oil & Gas 360) – What will happen to Syria now that the Assad family’s brutal dictatorship is over is a big question in the foreign policy establishment. A bigger question is: What is Syria? The boundaries of Syria, Iraq, Jordan, and other parts of
Russian Rosneft, India’s Reliance strike biggest-ever oil deal
(Oil Price) – Russia’s state oil firm Rosneft has agreed to supply nearly 500,000 barrels per day (bpd) of crude to India’s Reliance Industries in the biggest oil supply deal between the two countries, Reuters reported on Thursday. The 10-year agreement is worth roughly $13 billion a year at
