Pietro D
Pitts
Hart Energy
Hess’ Bakken Production Nearing Peak of 200,000 boe/d
Hess Corp.’s combined oil, gas and NGL production from onshore Bakken in this year’s third quarter is close to reaching its peak of 200,000 boe/d.
High Geopolitical Risk for Oil
Where oil prices go next depends on how current geopolitical conflicts play out.
Chairman of Russia's Oil Major Lukoil Dies Suddenly Aged 66
The previous board head of Lukoil died in September of last year after falling from a hospital window in Moscow, just a couple months after the Russian oil major took a public stand against the country's invasion of Ukraine.
China CNOOC's Q3 Profit Down 8% on Year, Revises Up Capex
CNOOC updated up its 2023 capital spending to build new production capacities after reporting a fall in third quarter profits due to lower realized oil prices.
Chevron-Hess Deal Creates American “Dream Team” Offshore Guyana, Surprises Analysts
Chevron’s $53 billion all-stock deal for Hess Corp. will see the California oil giant team up with its Texas counterpart Exxon Mobil to create an American “dream team” in Guyana’s offshore Stabroek Block where production has been rising exponentially each year.
Chevron Buys Hess for $53B as Historic M&A Bonanza Continues
U.S. supermajor Chevron Corp. is acquiring Hess Corp. in a $53 billion megadeal—less than two weeks after Exxon Mobil unveiled a nearly $60 billion Permian Basin acquisition. And experts think the historic run of oil patch consolidation is far from over.
Pitts: Venezuela: Geopolitics, Sanctions, Elections and Citgo
Geopolitical events in the Middle East and fears of escalation may stand to benefit Venezuela both indirectly from a run-up in oil prices and directly through further easing of U.S. sanctions.
Q&A: PPHB’s James Wicklund on North, South American LNG, Irrational Net Zero Ambitions
In an exclusive Q&A, PPHB Managing Director James “Jim” K. Wicklund talks U.S., Canadian and Mexican LNG projects, difficulties Tellurian is having with its Driftwood LNG project and why the world may miss its net zero ambitions in 2050.
Market Watchers: What Does Mideast Unrest Mean for Markets?
While Israel has very limited oil production, a longer-term effect of the Israeli-Hamas conflict is most likely more bullish than bearish to prices, as it’s just a matter of time until it reaches into Middle East oil producing areas.
US Eases Oil Sanctions on Venezuela for Six Months
The U.S. Office of Foreign Assets Control (OFAC) issued a license that authorizes some transactions by Venezuela’s oil and gas industry for a limited time, but a meaningful production ramp up would require massive investments over multiple years, analysts say.