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Oil and Gas
Harbour Energy suffers from lower gas prices
After lowering its natural gas price projections, Britain's largest oil and gas producer anticipates generating less free cashflow this year than expected.
Harbour Energy's free cashflow will be "marginally" positive after cutting its…
OPEC+ members continue to reduce production in an effort to increase oil prices
Saudi Arabia, Russia and other Opec+ countries have extended their voluntary cuts in oil production by another three months. They are trying to increase prices which have been subdued despite geopolitical tensions.
According to Saudi…
Exploring Pantheon Resources PLC Post-AGM Investor Presentation Highlights
On January 24th 2024 Pantheon Resources PLC held a post-AGM investor presentation, providing insights into their ongoing projects and future plans. Here's a breakdown of some key highlights from the discussion points
Natural gas prices plummet as US prepares for the warmest winter ever recorded
US natural gas prices are at their lowest in nearly three decades as the country prepares for its warmest winter ever, which will reduce demand while production reaches record levels.
Analysts said that this winter, the months when gas…
Shell: World to increase demand for LNG
Shell forecasts that the global demand for liquefied gas will increase by over 50% by 2040, as people switch to cleaner energy sources.
The oil major's latest energy outlook suggests that global demand will peak in 2040, with the growth…
Diamondback Energy is close to buying Endeavor for $25bn in US oil deal
Diamondback Energy has a deal in place to purchase Endeavor Energy Resources, a private oil producer in America, for about $25bn. This is according to sources familiar with the situation. ConocoPhilips lost out in this race to acquire one…
Pantheon Resources: The Rising Star in Alaska’s Oil Landscape – An Investment Analysis
Discover the investment potential of Pantheon Resources as driven by their expansive Alaska North Slope oil projects. Proactive’s research analyst Manos Halicioglu provides an in-depth insight and a valuation perspective on this burgeoning…
BP boss: AI will cause global gas demand to surge.
The head of BP predicted that the AI revolution would trigger a global demand surge for fossil fuels. BP said it will ramp up its gas production over the next few years.
Murray Auchincloss said that demand for energy, including renewable…
BP announces a $14bn buyback of shares after exceeding expectations
BP reported fourth-quarter profit ahead of expectations despite the fact that oil and gas prices have fallen from their highs at the start of the Ukraine war.
The FTSE 100 Oil and Gas group reported profits in the final quarter of last…
Shell announces a $3.5 billion buyback despite declining profits
Shell announced plans to buyback another $3.5 billion in its shares, after its fourth-quarter profit exceeded expectations. This was helped by an "exceptional performance" by its gas trading division.
The company's profits dropped from…
Several North Sea oil drilling licenses awarded to foreign firms
In the most recent round of exploration licenses, Korean, Malaysian and Norwegian companies were granted permission to drill in the North Sea for oil and natural gas.
The North Sea Transition Authority (NSTA), which is responsible for…
Investor attacks BP over ‘irrational switch’ to clean energy
Oil giant accused of leaving shareholders £40bn worse off with unrealistic strategy
After an activist investor claimed that they had left shareholders £40bn worse off, BP faces new demands to scrap the "irrational", net zero commitments…
Britain’s gas system still uses engines from 1960s RAF jet fighters
It has been revealed that Britain's vast gas network still relies on a fleet aging aircraft engines. Some of these engines were removed from RAF Lightning fighter planes built in the 1960s.
Jon Butterworth is the chief executive at…
US oil lobby launches $8-million ad campaign amid record fossil fuel production
This week, the American oil lobby launched a media campaign with a budget of eight figures to promote the idea that fossil-fuels are "vital", for global energy security. Climate experts were alarmed by this.
The website of the new…
Oil prices increase after Iran refuses to stop supporting Houthi attacks in the Red Sea
The price of oil has risen dramatically after Iran refused to stop supporting attacks by Houthi Rebels on vessels in Red Sea, and sent one warship along the main trading route.
Brent crude climbed $1.73 or more than 2.4% to $78.77 per…
The Big Five Oil Companies Reward Shareholders with Record Payouts
The world's five largest listed oil companies are expected to reward their investors with record payouts of more than $100bn (£79bn) for 2023 against a backdrop of growing public outrage at fossil fuel profits.
The five "super-majors" -…
US and UK enforce Russian oil price cap
The UK and US tighten rules on the shipping of Russian crude oil to make it more difficult for Moscow to avoid the so-called "price cap", a policy designed to squeeze the Kremlin’s revenue.
According to rules published Wednesday,…
BP halts oil shipments across the Red Sea following rebel attacks
BP is the first major oil company to halt all shipments via the Red Sea. The company mentioned a worsening situation because of the increasing attacks by Yemeni rebels on ships using a route that manages about 10% of worldwide trade.
Brent…