Oil Prices Ease on Strong Dollar, Mixed Global Economic News
Crude prices declined despite signs of improving U.S. oil demand and falling fuel inventories that helped boost crude prices to a seven-week high a day earlier.
BP to Buy Out Bunge’s Stake in Brazilian Biofuels JV
BP’s acquisition of Bunge’s stake in BP Bunge Bionergia is expected to close by year-end 2024, pending regulatory approvals.
Seatrium Awards Classification to ABS for 2 Newbuild FPSOs
The two FPSOs will be deployed by Petrobras in the eastern part of the Santos Basin, 200 km offshore Rio de Janeiro.
US Producers to Contribute to 2030 Oil Supply Surplus
Higher world oil production, led by U.S. and other producers in the Americas, will outpace demand between 2023-2030 and inflate the world’s spare capacity cushion, according to the IEA.
Exxon Buys Viridien Vessel Monitoring System
Formerly known as CGG, Viridien’s Marlin vessel monitoring system will be used to support Exxon’s operations offshore Guyana.
Vista to Import New Fracking Set to Boost Production at Argentina's Vaca Muerta
Vista Energy will import a new fracking set in the Vaca Muerta and sealed an agreement with SLB for the new equipment.
E&P Highlights: June 10, 2024
Here’s a roundup of the latest E&P headlines, including a decline in global drilling activity and new contract awards.
TotalEnergies Reserves Hull for Development Offshore Suriname
TotalEnergies operates Block 58, with partner APA Corp., and expects to make a final investment decision in fourth quarter 2024, while initial production is slated for 2028.
Hess Shareholders Approve Chevron Merger
Hess Corp. stockholders voted in favor of the company’s merger with Chevron Corp. during Hess’ May 28 special meeting.
Proxy Vote Preview: Chevron, Hess and Guyana Uncertainty
Chevron Corp. stockholders will vote on May 28 and Hess’ stakeholders on May 29 on a $53 million combination that largely centers on Hess’ stake offshore Guyana.