Oil Price Back in the middle of 2023, the International Energy Agency reported that electricity demand is on the decline in advanced economies. The IEA said at the time that demand for electricity in the U.S. alone was set to drop by 2% in 2023. Instead, demand is surging. And warnings of blackouts are multiplying. This weekend, the Electric Reliability Council of
Nasdaq LONDON – Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman earlier this month outlined one of the biggest reforms at OPEC in recent years and presented it as a reward for countries that invest in their oil industry. The change clears the way for giving larger production quotas to OPEC Gulf members such as Saudi Arabia, the United Arab Emirates and
Oil and Gas 360 January 31, 2023- HOUSTON–(BUSINESS WIRE)–Magnolia Oil & Gas Corporation (NYSE: MGY) announced today that its Board of Directors has declared a cash dividend of $0.115 per share of Class A common stock, and a cash distribution of $0.115 per Class B unit payable on March 1, 2023 to shareholders of record as of February 10, 2023.
Oil and Gas 360 By: Larry Busnardo, EnerCom The natural gas crisis unfolding in Europe appears to be intensifying as Russia has dialed back natural gas supplies to the region. European countries have been scrambling to determine how to meet their winter needs for heating and power generation. New supplies are ultimately needed to ensure the region’s short-term and long-term
Oil and Gas 360 CALGARY, AB, June 28, 2022 /CNW/ – Whitecap Resources Inc. (“Whitecap” or the “Company”) (TSX: WCP) is pleased to announce it has entered into a purchase and sale agreement to acquire XTO Energy Canada for total cash consideration of approximately $1.9 billion and the assumption of estimated positive working capital on closing for a net purchase price of $1.7 billion (the “Acquisition”). The Acquisition is expected to
Reuters Top oilfield services firm Schlumberger (NYSE:SLB) reported a higher first-quarter profit on Friday and increased its dividend by 40%, as rising oil prices boosted demand for services and equipment. Oil prices climbed to their highest in more than a decade during the quarter as Russia’s invasion of Ukraine upended global supply dynamics. Oilfield service firms, including Halliburton (NYSE:HAL) Co
CNBC LONDON — A group of some of the world’s most powerful oil producers will hold a crucial meeting on Thursday to discuss reversing some of the output cuts it made last year. OPEC and its non-OPEC partners, an energy alliance sometimes referred to as OPEC+, will convene via videoconference in a bid to reach consensus over how to manage
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