Energy Transfer LP announced on Monday that it had acquired pipeline operator Lotus Midstream in a $1.45 billion cash-and-stock deal to boost its presence in the Permian Basin. The acquisition is expected to solidify Energy Transfer as one of the top midstream companies in the region and provide greater access to crucial markets for both producers […]
As oil sector deal-making starts to show signs of recovery, Brookfield Renewable Partners will acquire Australia’s Origin Energy utility for over $10 billion, while the Permian basin has scored another victory with a $1.45-billion asset sale. On Monday, a consortium led by Brookfield said it had agreed to acquire Origin (OTCPK:OGFGF) in a $12.4-billion deal, including debt. […]
Oil prices appear to have taken a break from focusing on macro events, with increasing demand and disruptions in supply pushing oil prices higher at the start of the week. The real news for oil markets this week, however, will come from the Fed’s meeting. Let’s talk more about oil market fundamentals. As French strikes […]
Oil rises again on Tuesday, extending a recovery from a 15-month low hit the previous day, as the rescue of Credit Suisse eased worries about global banking sector risks that could hit economic growth and fuel demand. After jitters initially, on Monday the mood across financial markets has lifted in the wake of UBS’ takeover […]
Drilling activity in the US oil and gas output increased by 51.3pc on an average yearly basis in 2022, driving crude production up to 11.9mn bl/d and marking a 6.4pc increase compared with the 11.2mn bl/d averaged in 2021. The increased output was augmented by US companies completing a large backlog of drilled-but-uncompleted (Duc) wells […]
Rystad Energy’s research shows that annual greenfield capital expenditure (capex) broke the $100 billion threshold in 2022. It will break it again in 2023. This is the first breach for two straight years between 2012 and 2013. The company claims that the offshore oil and gas sector is set for “the highest growth in a decade […]
Oil prices rise by more than 1% on Friday. This is after better-than-expected U.S. employment data. Both benchmarks fell more than 3% on the week on U.S. interest rate hike jitters. Brent rose $1.19, or 1.5%, to $82.78 a barrel. U.S. West Texas Intermediate crude (WTI) was up 96 cents, or 1.3%, at $76.68. Expectations of further […]
The offshore oil and gas (O&G) sector is set for the highest growth in a decade in the next two years. It is with $214 billion of new project investments in line. Rystad Energy’s research shows that annual greenfield capital expenditure (capex) will break the $100 billion threshold. This is a projection in 2023 and […]
Oil prices could hit the $90-$100 per barrel range in the second half of this year as global demand is set to reach record levels amid constrained supply, Russell Hardy, CEO at the world’s largest independent top energy trader, Vitol Group, told Bloomberg Television on Monday. “The prospect of higher prices in the second half […]
Oil prices rose nearly 2% on Tuesday. It erases the previous session’s losses as hopes for a strong economic rebound in China offset worries about U.S. interest rate hikes. It is dragging down consumption in the world’s biggest economy. Here is how oil rebounds Brent crude futures for April, which expired on Tuesday, settled higher […]
