Downstream

This post was originally published on this site(Reuters) – The consolidation wave in the U.S. energy sector that triggered $250 billion worth of deals in 2023 has stretched into this year, as companies look for opportunities to deploy their cash hoard and boost their reserves. The majority of energy executives polled in December by the […]

This post was originally published on this siteBy Paul Carsten LONDON, June 11 (Reuters) – Oil prices were largely steady on Tuesday, as investors waited for U.S. and China inflation data and the outcome of the Federal Reserve’s policy meeting to see how changing prices could hit demand. Brent crude futures fell 14 cents, or 0.2%,

This post was originally published on this siteAzerbaijan has agreed to double gas exports to Europe by 2027 ‘Long list’ of nations asking for gas, deputy minister says Months after the world agreed to transition away from fossil fuels at UN-led climate talks, the demand for natural gas from the host of this year’s COP29

This post was originally published on this site(Reuters) – Oilfield services firm Noble  said on Monday it would buy smaller rival Diamond Offshore Drilling  in a cash-and-stock deal that would value the transaction at $1.59 billion, the latest in a series of buyouts in a sector undergoing massive consolidation. Shares of Diamond Offshore rose 4.6% before

This post was originally published on this siteA healthy growth in consumer spending and solid summer demand will push the oil market to a 1.3 million barrels per day (bpd) deficit in the third quarter and lift benchmark Brent prices to $86 a barrel, Goldman Sachs said. The bank cut its 2024 oil demand growth

This post was originally published on this site Portfolio investors sold record volumes of petroleum last week after OPEC⁺ surprised the market by announcing plans to increase production starting from the fourth quarter of 2024. Hedge funds and other money managers sold the equivalent of 194 million barrels in the six most important futures and options

This post was originally published on this siteSummary BP updates its conflict of interest policy Senior staff have three months to disclose relationships Staff face potential sacking for failure to comply (Reuters) – BP employees must disclose any intimate relationships with colleagues or risk losing their jobs, the oil major told staff in a policy

This post was originally published on this siteSummary US jobs data dampens hope for near-term interest rate cuts Goldman Sachs forecasts Brent rise to $86 in third quarter Other analysts expect inventory draws to support prices (Reuters) – Oil prices edged up on Monday, buoyed by hopes of rising fuel demand this summer, though gains

This post was originally published on this site(Reuters) – Utility firm Entergy and a unit of NextEra Energy on Friday entered into an agreement to develop up to 4.5 gigawatts (GW)of new solar and energy storage projects. The five-year agreement will help Entergy provide renewable energy to more than 3 million customers in Arkansas, Louisiana, Mississippi and

This post was originally published on this siteWages for US oil workers set a fresh record in April as a wave of acquisitions in the shale industry has yet to impact the labor force. Average hourly earnings for front-line oil and gas workers rose 0.5% from March to $44.67, according to a Labor Department report released Friday.