U.S. oil supermajor Chevron has held talks to acquire Pasadena Refining System Inc., (PRSI), a Texas oil refinery owned by Brazilian state-run oil firm Petroleo Brasileiro SA (Petrobras), three people familiar with the situation told Reuters. You have reached your allocation of free articles this week. Don’t despair you can keep reading the news. Subscribe or start … Read more
An international financial services company has announced its withdrawal from financing tar sands oil and pipeline projects in Canada and the U.S., Kallanish Energy reports. The announcement of new investment restrictions from the Netherlands-based NN Group came last week. The company that manages 240 billion euros ($277.13 billion) said it would not … Read more
The quality of debt issued by the North American oil and gas industry has changed substantially – and not in a good way — over the past two years, Moody’s Investors Service says in a new report. While low-rated companies issued almost no debt between mid-2015 and mid-2016, since that time, “B”-rated … Read more
The Permian Basin is the No. 1 drilling hot spot in North America. More than $90 billion in deals have been made in the Permian Basin in West Texas and southeast New Mexico from January 2013 through July 2018, according to a new report. The report was prepared by staffers of Ralph … Read more
Ohio energy users saved more than $40.2 billion from 2006 to 2016, thanks to lower natural gas prices, according to a new report from the Texas-based Consumer Energy Alliance. Residential users saved almost $15 billion, while commercial and industrial users saved $25.3 billion, Kallanish Energy has learned. The report looked at how … Read more
The amount of money spent in the energy sector fell for a third straight year in 2017, raising concerns about the world’s ability to provide enough power and tackle climate change, the International Energy Agency reported Tuesday. Governments and businesses put $1.8 trillion into energy infrastructure, equipment and resources. That means global energy investment fell … Read more
Shell and Chevron are the first oil and gas industry players granted waivers from President Trump’s 25% tariff on steel imports, after the administration agreed the specialty steel they were importing isn’t manufactured in the U.S. The U.S. Commerce Department approved tariff exclusions for 2,760 tons of steel casing and production tubing Shell said it … Read more
The federal government last week delayed a decision on a proposal to allow oil and gas drilling near Great Sand Dunes National Park in southern Colorado, saying it first wants to consult with the Navajo Nation, which owns land in the area. The Bureau of Land Management had planned to sell drilling … Read more
The number of rigs working onshore in the Lower 48 U.S. states during the week ended June 29, fell for the third consecutive week, data from oilfield services firm Baker Hughes, a GE company, reveals. Last week, the number of working rigs dropped to 1,016, down seven rigs from one week earlier. … Read more
SM Energy said Thursday it closed the previously announced sales of its remaining assets in the Williston Basin in North Dakota, and third-party-operated assets known as Halff East in Upton County, Texas, for $292.3 million. The properties acquired by privately-held, independent producer Petro-Hunt include roughly 246 operated and 51 non-operated wells and 119,000 net acres of … Read more
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