Sunday, December 22

Tag: Oil and Gas Upstream Operations

Chevron Warns of Billions in Charges From California Challenges, Gulf of Mexico Assets
2Jan By adminNo Comments
World

Chevron Warns of Billions in Charges From California Challenges, Gulf of Mexico Assets

Chevron said it will book $3.5 billion to $4 billion in charges for the fourth quarter, citing challenges tied to regulations in California and previously sold oil and gas production assets in the Gulf of Mexico.Chevron said it will impair a portion of its U.S. upstream assets, mostly in California, due to regulatory challenges in the state that have led to “lower anticipated future investment levels in its business plans.” Chevron said it will continue to operate the affected assets for many years.Copyright ©2024 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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OPEC Is Losing Its Mojo on Wall Street
23Dec By adminNo Comments
Money

OPEC Is Losing Its Mojo on Wall Street

Throttling back on oil production hasn’t helped OPEC and its allies to push up crude prices lately.At least four times in the past 15 months, members of the alliance known as OPEC+ have slashed oil output, only for prices to soon retreat anyway. A surge near $100 a barrel petered out earlier this year, and crude futures tumbled 10% in the two weeks after the coalition announced a roughly 5% reduction on Nov. 30.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Energy & Utilities Roundup: Market Talk
18Dec By adminNo Comments
World

Energy & Utilities Roundup: Market Talk

The latest Market Talks covering Energy and Utilities. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.0702 GMT – Centrica has had an outstanding 2023, outperforming the utility sector by around 50%, but 2024 looks to be a more normalized earnings year, Jefferies analysts write in a research note. “We believe that Centrica’s earnings momentum has started to slow down,” they say. To unlock further value, the U.K. energy company needs more visibility on how it can put its standout balance sheet to work, they say. For them to get positive again on Centrica, it needs to deliver on business KPIs, such as growth in energy services, margins on residential energy supply, and further visibility on capital expenditure returns, the analysts say. Jefferies lowers it rat...
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Credit Agricole to Stop Financing New Fossil Fuel Extraction Projects
14Dec By adminNo Comments
World

Credit Agricole to Stop Financing New Fossil Fuel Extraction Projects

Credit Agricole said it aims to achieve carbon neutrality by 2050 and that it won’t finance any new fossil fuel extraction projects.The French lender said Thursday it expects to increase 80% of its exposure to low carbon energies through 2025 totalling 13.3 billion euros ($14.46 billion).Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Occidental to Acquire CrownRock in $12 Billion Deal
11Dec By adminNo Comments
World

Occidental to Acquire CrownRock in $12 Billion Deal

Updated Dec. 11, 2023 7:49 am ETOccidental Petroleum has signed a $12 billion cash-and-stock deal to acquire the oil and gas producer CrownRock.Houston-based Occidental said Monday that it will take on $9.1 billion in new debt and issue $1.7 billion in new shares to finance the transaction, which sees it gaining CrownRock’s 94,000 net acres in the northern part of the Midland Basin in Texas. The acreage is part of the Permian basin, the largest oil producing region in the U.S.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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The Megafactories Are Coming. Will the Workers Show Up?
10Dec By adminNo Comments
World

The Megafactories Are Coming. Will the Workers Show Up?

By John Keilman | Photos by Maddie McGarvey for The Wall Street Journal COLUMBUS, Ohio—Enormous factories are sprouting outside of this capital city. Now comes the hard part—finding people to work in them.Manufacturing jobs are tough to fill around Columbus, which has one of Ohio’s lowest unemployment rates and a flourishing logistics industry that competes for the same employees. The region’s plants have thousands of open positions, a shortage that is causing some managers to join their workers on the production line.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Joe Biden’s Assist to Hunter’s Business
7Dec By adminNo Comments
Health

Joe Biden’s Assist to Hunter’s Business

House investigators keep digging into the Biden family business, and this week comes new evidence of the ways Joe Biden helped his son using alias email accounts.Internal Revenue Service agents Gary Shapley and Joseph Ziegler provided to the House Ways and Means Committee more information from their multiyear investigation into Hunter Biden’s taxes and business. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Woodside Energy, Santos in Merger Talks to Create Global Energy Giant
7Dec By adminNo Comments
World

Woodside Energy, Santos in Merger Talks to Create Global Energy Giant

SYDNEY—Woodside Energy and Santos said they are discussing a merger that could result in a new global giant worth around $52 billion, illustrating how rising demand for natural gas in the wake of the Ukraine war is reshaping the energy sector.Woodside and Santos said talks are at an early stage and there is no agreement over a deal that would rank as one of the largest in the energy sector this year. Santos said it was weighing the merger alongside other options to boost value for shareholders after its stock declined around 5% over the past 12 months.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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FTC Investigates Exxon’s $60 Billion Deal for Pioneer
5Dec By adminNo Comments
World

FTC Investigates Exxon’s $60 Billion Deal for Pioneer

Updated Dec. 5, 2023 12:49 pm ETU.S. antitrust enforcers are investigating Exxon Mobil’s plan to acquire Pioneer Natural Resources, which would be the largest oil-and-gas deal in two decades, according to securities filings. The Federal Trade Commission has sought additional information from the companies about the deal, a step it takes when reviewing whether a merger could be anticompetitive under U.S. law, Pioneer disclosed in a filing Tuesday. Merger investigations on average take about 10 months to complete, according to data compiled by law firm Dechert.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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