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EOG Resources Acquires Encino for $5.6B, Expands Premier Utica Shale Position

Rextag

million net acres and more than 2 billion barrels of oil equivalent (Boe) in undeveloped resources. The condensate produced is used in refineries, petrochemical plants, or as diluent, and requires stabilization before transport — usually handled at facilities operated by MPLX (Cadiz), Williams (Scio), or Ergon Inc.

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Valero Q2 Profit Down YoY on Lower Volumes

Rigzone

Valero refineries processed 2.92 million barrels per day (MMbpd) in the April-June quarter, down from 3.01 Refining margin per barrel of throughput averaged $12.35, up from $11.14 billion of finance lease obligations and $4.5 Valero declared a dividend of $1.13 per share for Q2 2025. MMbpd in Q2 2024. for Q2 2024.

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Pemex Posts First Profit in Over a Year

Rigzone

The positive report comes as Sheinbaum’s administration seeks to sell as much as $12 billion in securities to international investors in a bid to raise financing to help pay Pemex’s roughly $100 billion in debt. The profits could help to make the financing round go more smoothly. million barrels per day, down 8.6%

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Wink to Webster: The 1.5M bpd Superhighway Out of the Permian

Oil Gas Leads

million barrels per day capacity , the pipeline was developed through a joint venture to meet growing demand for safe, efficient, and high-volume takeaway from West Texas. Spanning over 640 miles with a 1.5 miles Current Permitted Mileage (2024): 521.71 miles Current Permitted Mileage (2024): 521.71

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EU’s $750 billion energy deal with U.S. will be hard to attain, experts say

Oil & Gas 360º

barrels since the region began dialing back its purchases from Russia after the invasion of Ukraine. Any further increase in purchases could prove problematic for the region’s oil refineries which need a mix of supplies to make a enough of the right kind refined fuels like gasoline and diesel. Europe has become a major buyer of U.S.

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Oil prices lower after Trump suggests Israel attack on Iran is not imminent

CNBC: Energy

per barrel. per barrel. Oil prices could spike to $120 per barrel or more if Iran closes the Strait of Hormuz in response to an Israeli strike, said Natasha Kaneva, head of global commodities research at JPMorgan. Picture taken May 21, 2018. West Texas Intermediate fell 11 cents, or 0.16%, to close at $68.04

Oil
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What analysts say it will take for the Israel-Iran conflict to rattle the markets

CNBC: Energy

Iran's missile strikes also damaged an oil refinery in Haifa, the Times of Israel reported. " Allen pointed out that while Brent crude prices jumped around 7% on Friday to roughly $74 a barrel, the international oil benchmark is still below its 2024 average of roughly $80. Energy Information Administration.

IT