oilandgasinvesting
The oil and gas sector has long been one of the Earth's largest and most valuable industries, but it's undergoing major changes to compete in the green energy transition and remain profitable. At last year's COP28 summit, nations signaled a definitive shift away from fossil fuels, marking a potential "beginning of the end" for the era. While ambitious, the reality is more complex. Oil and gas aren't disappearing anytime soon — in fact, the industry is projected to rake in revenue of US$5.3 trillion in 2024, with daily consumption of 103 million barrels. Indeed, petroleum remains the lifeblood ...
Investing News Network
BPH Energy (ASX:BP8) has completed a AU$1 million (before costs) capital raise to execute the next phase of investment in its hydrocarbon projects and the development of Cortical Dynamics. David Breeze, the company’s managing director and executive chairman, said part of the funds will be used for the next-phase development of Cortical Dynamics’ anaesthesia monitoring EEG-based device called BARM, which stands for brain anaesthesia response monitor. Cortical’s BARM device helps keep the patient optimally anaesthetised during surgery, and Breeze emphasised the significant unmet need in the anae...
Investing News Network
The International Energy Agency (IEA) is forecasting a significant surplus in the global oil market in the coming years, saying the imbalance will be driven by slowing demand growth and a surge in supply. The IEA’s recently published Oil 2024 report outlines a future where the oil sector will be comfortably supplied through 2030, although energy security will remain a crucial concern due to transformative forces within the sector. The report points to a slowdown in global oil demand growth as the green energy transition progresses. Even with robust demand from fast-growing Asian economies and ...
Investing News Network
China and Pakistan have agreed to strengthen their mining and energy cooperation, deepening their economic partnership under the China-Pakistan Economic Corridor (CPEC), part of China's Belt and Road Initiative. Reuters states that the announcement was made during Pakistani Prime Minister Shehbaz Sharif's recent visit to Beijing, where he sought to bolster bilateral ties and economic collaboration between the two nations. A joint statement emphasizes the nations' commitment to enhancing mining cooperation and implementing a comprehensive pact aimed at advancing mine development and industrial ...
Investing News Network
OPEC+ announced extensions for most of its oil production cuts at a gathering this past Sunday (June 2) amid struggling oil prices brought on by subdued demand and higher inventories of the fuel. The decision, reached at a meeting in Riyadh, Saudi Arabia, involves maintaining voluntary cuts of 1.65 million barrels per day (bpd) announced in April 2023 through to December 2025. The cuts were originally set to expire at the end of 2024. Meanwhile, voluntary cuts of 2.2 million bpd declared in November 2023 will continue until the end of September 2024, after which they will be gradually phased o...
Investing News Network
Crescent Energy (TSX:CPG,NYSE:CPG) is set to acquire SilverBow Resources (NYSE:SBOW) in a deal valued at US$2.1 billion, positioning Crescent as the second largest operator in the Eagle Ford shale. Under a definitive agreement announced on Thursday (May 16), SilverBow shareholders will receive 3.125 shares of Crescent Class A common stock for each share of SilverBow common stock they own, with an option to receive cash at a value of US$38 per share, subject to a cash consideration cap of US$400 million. John Goff, chairman of the board at Crescent, said the deal will place the business in a mo...
Investing News Network
Crescent Point Energy (TSX:CPG,NYSE:CPG) has struck a deal with Saturn Oil & Gas (TSX:SOIL,OTCQX:OILSF) to divest certain non-core assets in Saskatchewan as part of its long-term sustainability plan. “This transaction allows us to realize value for these non-core assets which had limited impact in the Company’s future plans while continuing to focus on our priorities of operational execution, optimizing our balance sheet and increasing our return of capital,” said Craig Bryksa, president and CEO of Crescent Point, in a company press release. The strategic move involves the sale of assets, incl...
Investing News Network
Prices for Brent Crude and West Texas Intermediate trended higher during the first quarter of 2024, following a volatile 2023 which saw prices make broad fluctuations but end the year range bound at their start levels. Ongoing tensions stemming from the Russia-Ukraine conflict led to concerns about potential disruptions to global oil supplies, contributing price support. Global economic conditions, such as inflation concerns, monetary policy decisions, and geopolitical tensions in oil-producing regions, played a significant role in shaping oil price movements during the quarter with both bench...
Investing News Network
The S&P/TSX Venture Composite Index (INDEXTSI:JX) rose 31.43 points last week to close at 586.55. The US Bureau of Economic Analysis (BEA) released its advance estimate for first quarter GDP growth this past Thursday (April 25). Though still incomplete, the data shows a slowing growth rate for real GDP — it increased 1.6 percent on a year-on-year basis, considerably lower than the fourth quarter of 2023, which saw growth of 3.4 percent. While analysts had expected slowing growth, the numbers were below analysts' forecasts. The GDP report came alongside a release from the BEA this past Friday (...
Investing News Network
閲覧を続けるには、ノアドット株式会社が「プライバシーポリシー」に定める「アクセスデータ」を取得することを含む「nor.利用規約」に同意する必要があります。
「これは何?」という方はこちら