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...Dennis She, a Longi vice-president, told the Financial Times last month that the company’s factory utilisation rate had fallen to as low as 70 per cent and that industry consolidation was likely to follow...
...“There is no way the US rig count grows after the recent wave of consolidation,” Conrad Gibbins, co-head of the upstream Americas business at Jefferies, told me....
...Chord Energy has agreed to acquire Enerplus in an $11bn deal, as a wave of consolidation continues to sweep across the US oil sector....
...Chord Energy has agreed to acquire Enerplus in an $11bn deal as a wave of consolidation continues to sweep across the US oil sector....
...the energy sector....
...The deal would make Ithaca one of the biggest independent oil producers in the North Sea and could spur further consolidation, as companies seek scale to fund investment and the cost of decommissioning legacy...
...When asked about the hurdle of higher prices in consolidation being allowed in the sector, Ekholm said: “I think Europe is in a disastrous situation . . ....
...Consolidation will, however, enable producers in the Permian to remain profitable even during commodity slumps....
...Low-priced UK buyers would have to in effect overpay for US-listed targets were they to get into the consolidation game....
...The Covid-19 outbreak, which crushed demand for oil, had brought the sector’s consolidation forward and left Europe with insufficient supply....
...US natural gas companies Chesapeake Energy and Southwestern Energy are closing in on a merger deal that would create the biggest single producer in the country with a combined market value of about $17bn...
...There is also a renewable energy boom on the horizon from the Inflation Reduction Act....
...The deceleration comes as inflation, private consolidation and declining rig count hamper supply....
...The announcement comes days after Diamondback unveiled a $26bn deal for privately held Endeavor Energy, and underscores the move to a more modest growth outlook as consolidation sweeps across the sector....
...The bullish outlook from the US fossil fuel producers comes amid a period of weak natural gas prices, which has forced a consolidation among shale producers — and an effort to find new sources of demand....
...In M&A news, consolidation in the US shale oil sector continues, this time with the announcement yesterday of Diamondback Energy’s $26bn tie-up with Autry Stephens’ Endeavour Energy Resources....
...higher energy costs....
...The metal is heavily used in renewable energy projects and electric vehicles....
...US fuel distributor Sunoco has agreed to buy pipeline operator NuStar Energy in a $7.3bn deal, including debt, as consolidation continues to sweep across the energy sector....
...The consolidation may force greater discipline, reining in excess investment and operating overheads. Good news for shareholders....
...The talks followed moves by US majors including ExxonMobil and Chevron to acquire smaller rivals and bulk up their portfolios as a consolidation wave has hit the sector....
...This week’s variant — Diamondback Energy’s $26bn swoop for Endeavor Energy Resources — is the latest in the quest to snap up prime assets in the US Permian Basin....
...The deal comes amid a wave of consolidation in the US energy industry....
...AIB is now under pressure to deliver on ambitious green energy targets....
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