Industry News

One of the world's first legal challenges over corporate greenwashing kicked off in an Australian court, with an activist shareholder group claiming gas producer Santos misled investors on its climate targets.

Oil prices plummeted as tensions in the Middle East showed signs of easing, with Israeli strikes avoiding Iran's oil infrastructure, leading traders to shift focus to weak demand and anticipated oversupply next year.

Saudi Aramco's venture arm has earmarked $100 million to invest in artificial intelligence startups.

'This acquisition secures valuable trading opportunities'.

North America dropped one rig week on week, according to Baker Hughes' latest rotary rig count.

Share buybacks have become a cornerstone of Big Oil's strategy as the post-Covid commodities rally spurred record profits and provided an opportunity to court investors betting against a fast energy transition.

TIPRO said its new workforce data 'yet again indicated strong job postings for the Texas oil and natural gas industry'.

MidOcean Energy raised its ownership in South America's only LNG export facility to 35 percent following an acquisition from Hunt Oil.

The joint venture aims to provide logistics and distribution of oil products and biofuels on both the national and international markets.

'Energy traders have increased conviction levels that Iranian crude facilities will not play a part in the ongoing conflicts', the Head of Research at Pepperstone said.

The latest awards form the biggest rollout of the Innovation Fund with 85 projects across 18 countries selected.

The new plan is below last year's $2.4 billion final repurchase package, as net profit for the first nine months of 2024 fell 48 percent year-on-year.

The collaboration aims to accelerate the deployment of Enerkem's technology converting non-recyclable waste and residues into sustainable fuels and circular chemical products.

The extension would keep the taxes at 9 Canadian cents per liter.

The company is investing $10.5 million into the new sea wind testing and measuring phase.

LongPath aims to deploy its Active Emissions Overwatch System to provide emissions detection, location, and quantification services for tens of thousands of oil and gas sites.

Suriname is on the verge of becoming a major South American energy producer.

'Cepsa is evaluating the fiscal impact of possible approval of a new permanent tax in Spain'.

Oil prices rose this week as escalating Middle East tensions and potential shifts in OPEC output spurred trading volatility, pushing WTI and Brent above key price levels.

Valero reported $364 million in net income attributable to shareholders for the third quarter, 86.1 percent lower than the same three-month period last year as its average refining margin slumped 55.4 percent.