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(Reuters) - U.S. oil and gas dealmaking fell to $12 billion last quarter, down from the first quarter and nearly a third of the $34.8 billion in the same period a year ago, as commodity price volatility left buyers and sellers clashing over asset values, according to data released by energy analytics firm Enverus on... Continue Reading →
(Reuters) - A rally in U.S. energy shares is crumbling, as fears of a global recession have prompted investors to take profits in one of the few corners of the stock market that has thrived this year. The S&P 500 energy sector (.SPNY) is still up 20% year-to-date, bucking a broader market swoon. But the sector has... Continue Reading →
Seismic data companies TGS and CGG said this week they were successful in their respective bids in the auction process conducted in relation to their rival's ION Geophysical Corporation’s (ION) Chapter 11 bankruptcy case pending in the United States Bankruptcy Court for the Southern District of Texas. TGS will acquire certain assets related to ION’s... Continue Reading →
The U.S. offshore wind sector continues its journey to deploy 30 GW of offshore wind by 2030 and 110 GW by 2050, Intelatus Global Partners said in its July U.S. offshore wind report. Two major OCS projects with around 940 MW of capacity have reached FID and have started onshore construction, and seven projects are... Continue Reading →
(Reuters) - Two U.S. investment funds on Tuesday said they formed a joint venture with a Venezuelan firm to pursue oil and gas exploration and production projects in the U.S.-sanctioned South American country. Gramercy Funds Management and Atmos Global Energy said their joint venture would work with an arm of Inelectra Group, a Caracas-based firm... Continue Reading →
Houston-headquartered offshore energy services provider Helix Energy Solutions has completed the acquisition of Louisiana-based, privately-held Alliance group of companies, enabling it to expand its decommissioning presence in the Gulf of Mexico. Back in May 2022, Helix revealed that it had entered into a definitive agreement to acquire 100 per cent of the equity interests of the Alliance... Continue Reading →
(Reuters( President Joe Biden's administration on Friday unveiled a five-year proposal for offshore oil and gas development in areas of existing production, and said the final plan may have anywhere from zero to 11 lease sales. The range of options, between two auctions a year and none at all, sought to balance the administration's efforts... Continue Reading →
(Reuters) - Exxon Mobil Corp (XOM.N) on Friday signaled that skyrocketing margins from fuel and crude sales could generate a record quarterly profit, according to a securities filing. Energy prices have shot up this year with oil selling for more than $105 per barrel and gasoline at about $5 per gallon in the United States. The enormous... Continue Reading →
Developers are currently planning to install more than 6 gigawatts (GW) of offshore offshore wind capacity over the next seven years, with the bulk of the projects coming online in 2025, the U.S. Energy Information Administration said in its Preliminary Monthly Electric Generator Inventory report. The number would fall far short of the Biden Administration’s target of... Continue Reading →
(Reuters) - Exports of Ecuador's flagship Oriente crude remain suspended under a force majeure declaration as the spread of anti-government protests hurts oil output, state-run Petroecuador said on Wednesday. At least eight people have died and road blockades have led to food and medicine shortages. The crisis has halved oil output, the country's main source... Continue Reading →
Brazil Energy Insight 