Industry News

Chevron has agreed to sell their 20% non-operated interest in the Athabasca Oil Sands Project, 70% operated interest in the Duvernay shale, and related interests, all located in Alberta, Canada, to Canadian Natural Resources Limited for $6.5 billion.

BP has abandoned a target to cut oil and gas output by 2030 as CEO Murray Auchincloss scales back the firm's energy transition strategy to regain investor confidence.

Houston-based Summit Midstream has agreed to acquire Tall Oak Midstream III for a mix of cash and equity consideration valued at $450 million.

Covestro has signed an Investment Agreement with certain entities of the ADNOC Group stipulating, among other items, that ADNOC will make a public takeover offer for all outstanding shares of Covestro at a price of €62.00 per share.

Honeywell has completed its acquisition of Air Products' liquefied natural gas process technology and equipment business for $1.81 billion in an all-cash transaction.

The North Dakota Public Service Commission has approved a $3.2 billion gas-to-liquids plant proposed by Canadian company Cerilon.

Amber Energy Inc., a newly formed company backed by a group of U.S. energy investors including Elliott Investment Management LP, is acquiring PDV Holding Inc., the parent of refiner and marketer CITGO, for approximately $7.3 billion.

OCI Global has completed the $2.35 billon sale of its 1.1 MMtpy Clean Ammonia project under construction in Beaumont, Texas to Woodside Energy Group Ltd.

U.S. regulators said Venture Global LNG has taken adequate steps to correct equipment problems at a Louisiana gas-processing plant.

CITGO Petroleum shut down its 177,000 bpd refinery in Lemont, Illinois, due to a power blip from its electricity supplier

Chesapeake Energy will rebrand as Expand Energy after completing its $7.4 billion merger with Southwestern Energy. The deal, expected to close in the first week of October, will create the largest natural gas producer in the US.

Tired of manually collecting and transferring NDT data? DIMATE PACS transfers data from field inspections directly into your management system, saving you time and effort. Revolutionize your inspection workflow with DIMATE PACS!

Oil refiners are facing a drop in profitability to multi-year lows due to slowing global demand and new refineries coming on stream in Africa, the Middle East, and Asia.

Rio Tinto will develop Pongamia seed farms in Australia as part of a new biofuels pilot. The project will explore the potential of Pongamia seed oil as a feedstock for renewable diesel, a cleaner alternative to traditional fossil fuels.

U.S. refineries are planning to take about 529,000 barrels of daily crude-processing capacity offline during the fall turnaround season, the lowest for the period since 2021.

Industry giant and household brand Procter & Gamble has announced it is investing $96.7 million to install new advanced production lines and increase production capacity at its Rapides Parish facility in Central Louisiana.