Chevron will proceed with its $53 billion acquisition of Hess, after it prevailed in a landmark legal battle against larger rival Exxon Mobil to gain access to the largest oil discovery in decades.Shares of Chevron were up 3.6% in premarket trading, with Hess gaining nearly 7.4%. Exxon shares were up 0.3%.CNBC first reported the arbitration outcome.
Regal Rexnord Corporation announced that its Board of Directors has appointed Aamir Paul to serve as Chief Executive Officer (CEO), commencing no later than July 1, 2026, upon the conclusion of his responsibilities with his current employer, Schneider Electric SE. The Board has also determined that Mr.
As the conflict in the Gulf widens, maritime insurance premiums for war coverage are surging -- in some cases by more than 1000% -- dramatically driving up the cost of moving energy through a critical maritime corridor.The conflagration sparked by Saturday's Israeli-U.S. air strikes against Tehran has paralyzed traffic through the Strait of Hormuz, a major shipping chokepoint.
Golden Pass LNG, a joint venture between QatarEnergy and U.S. oil major Exxon Mobil, said on Wednesday that the first cargo of liquefied natural gas has departed from its new Sabine Pass terminal in Texas.Shipping data showed that the vessel, Al Qa'iyyahal, had departed but it was not immediately apparent where the first shipment was headed.
Exxon Mobil is set to ship around 600,000 barrels of fuel from the U.S. Gulf Coast to cover its own import requirements in Australia, the first such shipments by the oil major, four sources with knowledge of the matter said.The planned shipments, on a route rarely used for refined products flows
U.S. natural gas futures eased about 1% on Thursday on near-record output and ample amounts of gas in storage despite near-historic flows to liquefied natural gas (LNG) export plants and forecasts for colder weather and higher demand over the next two weeks than previously expected.
U.S. natural gas futures climbed about 4% on Wednesday on near-record flows to liquefied natural gas export plants and forecasts for higher demand than previously expected as the weather turns colder than normal going into December.Front-month gas futures for December delivery on the New York Mercantile Exchange rose 17.9 cents, or 4.1%, to settle at $4.
U.S. natural gas futures fell about 6% on Wednesday to a one-week low in volatile contract expiration trade, pressured by an expected decline in gas flows to liquefied natural gas (LNG) export plants.Traders said Freeport LNG in Texas might reduce output and they pointed to forecasts for less demand this week than previously expected.
Oil producer Chevron's U.S. license to operate in Venezuela will expire on May 27 as planned, Secretary of State Marco Rubio said in a post on his personal X account.Rubio's post contradicted U.S. special envoy Richard Grenell's contention on Tuesday following a meeting with a Venezuelan top official that a 60-day extension of the license would be granted.
U.S. natural gas futures fell around 1% on Wednesday on a smaller than previously expected decline in daily output so far this month after a 10%-price jump on Tuesday forced some traders to cover some short positions.Gas futures for June delivery on the New York Mercantile Exchange fell 2.4 cents, or 0.7%, to $3.403 per million British thermal units at 9:07 a.m. EDT (1307 GMT).
Bardex Corp. is pleased to announce that the Offshore Technology Conference has awarded Daniel Toerner a spot in its 2025 Emerging Leaders class. Each year, the OTC recognizes up-and-coming professionals whose work in the energy industry demonstrates the kind of talent and commitment that puts them on a course toward being future leaders in the offshore energy sector.