Engelhart Completes Acquisition of Global Commodities Trader Trailstone
Engelhart Commodities Trading Partners’ acquisition marries its power, gas and oil trading business with Riverstone-backed Trailstone, which is largely focused on renewables power trading.
E&P Highlights: Aug. 19, 2024
Here’s a roundup of the latest E&P headlines including new seismic solutions being deployed and space exploration intersecting with oil and gas.
New Fortress’ Fast LNG 1 Running Again Following Maintenance
New Fortress Energy's FLNG1 site will now ramp up and hit full production by September, company officials reported.
Mexico’s Fast LNG Ships Out First Cargo—for Mexico
New Fortress Energy’s Fast LNG 1 project in Mexico will take an international route to a domestic destination.
YPF, Petronas Target FID for Argentine LNG Facility in Late 2025
Argentina’s long-envisioned LNG export facility is closer to becoming a reality as state-owned YPF SA and Malaysia’s Petronas will look to reach a final investment decision in the second half 2025 on development in Sierra Grande on the country’s Atlantic Coast.
Debt, Politics and Gas: Ecopetrol Explains Rejecting $3.6B Oxy Deal
Ecopetrol said its decision to not move forward with a $3.6 billion deal to acquire Oxy’s CrownRock LP assets was mainly due to the impact on its leverage, but also political shifts under Colombian President Gustavo Petro.
Mexico Energy Forum: Election Impacts on US-Mexico Energy Trade
Mexico Energy Forum President Roberto Salinas León shared his thoughts with Oil and Gas Investor on a number of themes related to recent elections in Mexico.
IOCs See Opportunity in Offshore Mexico, Despite Potential for Policy Changes
Five IOCs with offshore experience and capital—Eni, Harbour, Talos, Wintershall Dea and Woodside—continue to pursue promising opportunities offshore Mexico despite the country’s energy sovereignty push in favor of state-owned entities Pemex and CFE.
Fitch Downgrades New Fortress’ Default Rating, Citing Refinancing Risk
New Fortress Energy’s issuer default rating and senior secured debt were downgraded by Fitch, which cited a “highly constrained liquidity position,” as a reason behind its rating actions.
Oxy CEO Hollub on Divestment Plans: This is Not a ‘Fire Sale’
Occidental Petroleum is keeping under wraps what it might sell to prevent compromising “our ability to maximize the value,” CEO Vicki Hollub said during an Aug. 8 earnings call.