Occidental Petroleum has entered into an agreement to acquire CrownRock, a significant privately held energy producer operating in the Permian Basin, for $12 billion. This acquisition reflects the ongoing consolidation trend in the U.S. energy sector, particularly in the Permian, the largest oil-producing region in the country. CrownRock, developing a 100,000-acre position in the Midland… Continue reading Occidental Petroleum to buy Permian producer CrownRock for $12 billion, raise dividend

Australian energy companies Santos and Woodside Energy are engaged in talks about a potential merger, which, if realized, could result in the formation of an AU$80 billion ($52 billion) oil and gas giant. Santos, with a market capitalization of around AU$22 billion, and Woodside Energy, boasting a market capitalization of approximately AU$57 billion, have seen… Continue reading Australia energy giants Woodside and Santos in talks to create $52 billion gas powerhouse

Exxon Mobil CEO Darren Woods addressed concerns about potential obstacles to the oil giant’s acquisition of Pioneer Natural Resources, dismissing worries about competition issues with the Federal Trade Commission (FTC). In an exclusive interview with CNBC’s “Squawk on the Street,” Woods expressed confidence that there are no competition concerns with the $60 billion deal, emphasizing… Continue reading Exxon CEO dismisses worries FTC could hold up Pioneer deal, does not see competition concerns

U.S. crude experienced a nearly 4% decline, reaching its lowest point since June, with West Texas Intermediate (WTI) for January dropping $2.80 (3.87%) to $69.52 per barrel. Simultaneously, the Brent contract for February fell $2.68 (3.47%) to $74.52 per barrel. This decline occurred despite efforts by OPEC+ to bolster prices by committing to supply cuts… Continue reading U.S. crude drops below $70 per barrel, gas prices fall to 11-month low

Exxon Mobil announced plans to more than double its earnings through 2027, projecting an increase of $14 billion over the next four years relative to 2019. The energy giant is implementing cost-cutting measures, including a reduction of structural costs by an additional $6 billion by the end of 2027, resulting in a total savings of… Continue reading Exxon sees big earnings boost from cost cuts, will increase share buybacks after Pioneer deal closes

FuelPositive Corporation (TSX.V: NHHH) (OTCQB: NHHHF) (the “Company” or “FuelPositive”) is excited to announce the official delivery date for its first on-farm, containerized, Green Ammonia demonstration system, the FP300. On March 31st2024 the Company anticipates the world’s first, on-demand, modular, Green Ammonia fertilizer and fuel plant to be delivered and operational on the Hiebert’s farm in… Continue reading FuelPositive Update: The First On-Farm Green Ammonia System

The COP28 climate conference in Dubai has seen a significant increase in fossil fuel lobbyists, with 2,456 estimated attendees, marking a sharp rise from the previous year. This surge in attendance by lobbyists, who outnumber almost every country delegation, has sparked concerns among campaigners who argue that it goes “beyond justification” and suggests an attempt… Continue reading ‘Beyond justification’: Record number of fossil fuel lobbyists attend COP28 climate talks in Dubai

The chief executive of Crescent Petroleum, Majid Jafar, defended the oil and gas industry against accusations of contributing to the climate crisis during the U.N.’s COP28 climate conference in Dubai. Jafar compared blaming the industry for climate change to blaming farmers for obesity, asserting that societal consumption is the root issue. He emphasized the ongoing… Continue reading Oil CEO says blaming the energy industry for the climate crisis ‘like blaming farmers for obesity’

The COP28 climate summit in Dubai has brought the global fight over the future of fossil fuels to the forefront. Policymakers from nearly 200 countries have gathered, and there is a widespread belief among attendees that the summit’s success hinges on a deal to “phase out” all fossil fuels. The final agreement’s language, expected around… Continue reading Time to say ‘the F-words’? A fossil fuel fight takes center stage at the COP28 climate summit

Venezuelans voted on Sunday in a controversial referendum to assert sovereignty over a significant portion of Guyana, a neighbor endowed with extensive oil reserves. The disputed area, known as the Essequibo, covers 61,600 square miles, constituting two-thirds of Guyana’s territory. The referendum asked voters if they supported the creation of a new state in the… Continue reading Venezuelans vote to claim sovereignty over a part of oil-rich nation Guyana

Oil prices are anticipated to experience an upward trend in the coming year as several OPEC+ oil-producing countries have voluntarily committed to reducing output. While the official statement from the oil cartel did not formally endorse production cuts, individual countries revealed voluntary reductions totaling 2.2 million barrels per day for the first quarter of 2024.… Continue reading Oil prices could reach $100 a barrel in 2024 if OPEC+ members fulfil pledges for voluntary cuts

Billionaire philanthropist Bill Gates expressed concern at the COP28 climate conference in the United Arab Emirates, stating that the world is likely to surpass a critical temperature threshold with potentially dangerous and irreversible consequences. Gates, known for his involvement in global health and climate initiatives, conveyed optimism about progress at the Dubai summit but doubted… Continue reading Bill Gates warns the world is likely to smash through a critical warming threshold