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...Top oil industry executives have hit out at US President Joe Biden’s decision to pause approvals for new liquefied natural gas export terminals, with Shell’s CEO warning it will “erode confidence” in an...
...Access to some of Guyana’s 11bn barrels of offshore oil was a key rationale for Chevron’s acquisition of Hess announced last year....
...In securities filings this week, US oil company Chevron disclosed a potential hang-up for its pending $53bn all-stock acquisition of smaller rival, Hess Corporation....
...The new oil-focused company to be spun out of TC Energy, which will also be headquartered in Calgary, will operate 4,900km of crude pipeline infrastructure across the US and Canada including the Keystone...
...It is expected to generate 110,000 barrels of oil per day for Hess and has 11bn barrels of recoverable deposits overall. The project is already enriching impoverished Guyana....
...Brent Berg, president and chief executive of Rare Element Resources, a minerals company, will join Uranium Energy Corp, a North American uranium company, as senior vice-president of US operations....
...Those arguing that higher oil prices are ahead often point in evidence to a chronic lack of investment in oil exploration of late....
...The dispute between the two US oil supermajors has dominated discussions both on and offstage at CERAWeek, an annual gathering of the biggest names in the oil and gas industry....
...of a stake in a Guyana oil project that is central to the deal....
...Some of the world’s biggest investors including Norway’s oil fund and a Canadian pension giant have failed in a bid to push Samsung’s de facto holding company to increase dividends and share buybacks....
...A recent 500,000-gallon spill of crude oil from TC Energy’s Keystone pipeline in Kansas cost about $480mn to clean up....
...In Mexico, the sector is less politically fraught, and even López Obrador has approved joint venture pipelines such as a $4.5bn one between state group CFE and Canada’s TC Energy....
...It comes amid a broader surge in merger and acquisition activity in the US oil and gas industry, as companies place bets on the future of the energy mix and appetite dwindles to build new pipelines amid...
...America’s oil supermajors increased output sharply in their own backyard in 2023, pursuing a strategy of doubling down on oil and gas that has prompted blowback over their commitment to cutting emissions...
...The Canadian energy company that tried and failed to build the controversial Keystone XL pipeline is spinning off its oil transportation business to focus on shipping natural gas....
...In addition to the drone strikes overnight, two armed militia units based in Ukraine and backed by Kyiv — the Russian Volunteer Corps and Free Russia Legion — made incursions from Ukraine into the Belgorod...
...That left Chevron well positioned when oil prices jumped following Russia’s full-scale invasion of Ukraine in 2022....
...Oxy says it can break even with oil at $40 a barrel. Without cost cuts this is a slightly pricey deal....
...“Continuing regulatory challenges” in California will contribute to a non-cash charge of $3.5bn to $4bn, the oil company said, reflecting a write down in the value of its US upstream oil and gas assets,...
...But an ill-timed move into oil ultimately led to its bankruptcy when the Covid-19 pandemic crushed fuel demand in 2020....
...Most of the deals to date have been oil-focused....
...In its first year, the deal is expected to generate $1bn in free cash flow — based on the benchmark US oil price remaining at $70 a barrel — plus about 170,000 barrels of oil equivalent a day....
...The Hess acquisition will increase Chevron’s oil and gas output by more than 10 per cent....
...Nigeria is Africa’s largest oil producer but has had to import fuels due to a lack of refining capacity....
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