(Bloomberg) – Quantum Capital Group has acquired Caerus Oil and Gas for about $1.8 billion including liabilities. Houston, Texas-based Quantum announced the closing of the deal in a statement on Monday. Bloomberg News reported in June that Quantum would buy the Rocky Mountain oil and gas company. It’s doing the deal through portfolio comp...
(Bloomberg) – Shell Plc reduced its targets for carbon-emissions cuts in the coming decade, while maintaining the ambition of becoming a net zero company by 2050. Wael Sawan, Chief Executive Officer of Shell. The change is the latest sign of a broader adjustment in plans for the energy transition among the UK-based oil majors, which have bee...
(Bloomberg) – Board members of Colombia’s state oil company are objecting to President Gustavo Petro’s attempt to overhaul it with new directors as he works to wean the country off oil and gas. Ricardo Roa, chief executive officer of Ecopetrol SA, speaks during a press conference in Bogota, Colombia. Ecopetrol SA’s governance committee...
(Bloomberg) – bp Plc plans to invest about $1.5 billion in Egypt during the next few years as it seeks to develop natural gas projects and drilling in the North African country. The spending, which will be net to bp, follows the London-based major’s announcement earlier this month it will form a gas-focused joint venture in Egypt with ADN...
(Bloomberg) – bp Plc is showing signs of a pivot back toward oil and gas that should boost returns, but is doing it too quietly to benefit its share price, according to activist investor Bluebell Capital Partners. Four years into its plan to shift away from oil and gas, bp is under increasing pressure from some shareholders to raise its pro...
(Bloomberg) – Hedge fund Bluebell Capital Partners called on bp Plc to bolster investments into oil and gas and cut spending on renewable energy, saying the company’s shift away from fossil fuels is misguided and weighing on the share price. bp CEO, Murray Auchincloss bp should spend $1.5 billion a year more through 2030 on oil and gas pro...
(Bloomberg) – A drone strike that killed U.S. troops in Jordan and a separate attack on a fuel tanker in the Red Sea have led to an escalation of tensions in the region key to energy production and global trade. The White House blamed Iranian-backed militias for the assault on U.S. soldiers, which was denied by Tehran, while Houthi rebels c...
(Bloomberg) – A drone strike that killed U.S. troops in Jordan and a separate attack on a fuel tanker in the Red Sea have led to an escalation of tensions in the region key to energy production and global trade. The White House blamed Iranian-backed militias for the assault on U.S. soldiers, which was denied by Tehran, while Houthi rebels c...
(Bloomberg) – Russia curbed its crude oil production in December by the most since starting its cuts in early 2023, yet the nation still pumped more than its target, according to Bloomberg calculations based on official data. Daily crude production averaged 1.306 million tons last month, said people familiar with data from the Energy Ministry, wh...
(Bloomberg) — On a platform 140 kilometers (87 miles) off the coast of Norway, Crown Prince Haakon held two power cables connected to scale models: the first was a wind turbine, the second an oil rig. Behind him, the world’s biggest floating offshore wind farm was just visible on the horizon, an engineering marvel that cost more than $6...