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...The oil supermajor has persisted with the lawsuit in US federal court even after the duo withdrew their proposal....
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...Anand previously served as the group’s chief operating officer and chief financial officer. Vanderhaegen will become executive chairman....
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...Oil and gas production in the US hit record levels in 2023....
...Unsurprisingly, Pioneer vehemently disagrees, insisting that the suit “reflects a fundamental misunderstanding of the US and global oil markets and misreads the nature and intent of Mr Sheffield’s actions...
...The revision comes after the company pledged to devote a higher proportion of spending to oil and gas last year, and other oil groups such as BP have slowed their retreat from oil....
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...It asked the court to ban him from acting as an officer or director of any US-listed company, to recover with interest “all ill-gotten gains” from the alleged violations and to impose civil penalties....
...“That has a direct impact on jobs, on supply chain companies in the UK, and on receipts to the exchequer because if you delay our gas production, you delay us paying tax on it.”...
...Images released by Venezuela’s communications ministry showed the former minister in handcuffs and being escorted by balaclava-clad police officers....
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...In 2022, Euronav announced a $4.2bn all-share merger with Frontline, to create what could have been the world’s biggest oil tanker group....
...Investors said the two biggest US oil companies would continue to generate significant cash flow despite the dip in first-quarter earnings, citing surging demand for energy in the US and elsewhere....
...Oil companies listed in the US benefited from a deeper pool of capital and higher valuations, he told the FT in his first public interview since stepping down from the energy giant’s top post at the end...
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...A decade later the payments have come back to haunt the company: it pleaded guilty in the US in March. But Weir said this is all in the past....
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...Beeker, research director at Wood Mackenzie....
...signal” to the oil and gas industry....
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