Fri.Jul 18, 2025

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Chevron completes $53 billion Hess takeover following lengthy Exxon arbitration

Oil & Gas 360º

(World Oil) – Chevron has completed its $53 billion acquisition of Hess Corporation, having prevailed in an arbitration against ExxonMobil regarding Hess’ offshore Guyana assets, which had delayed the takeover for over a year. offshore operations in Guyana’s Stabroek block. Image: Hess The combined company has one of the most advantaged and differentiated portfolios in the industry, with leading positions in critical energy markets around the world and a high cash margin produc

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Oil Prices Climb as EU Sanctions Target Russian Trade

OilPrice

Oil prices rose on Friday after the EU adopted its 18th sanctions package against Russia, lowering the price cap, targeting Russian oil trade, and closing a loophole that has so far allowed EU imports of fuels processed from Russian crude. As of 9:50 a.m. EDT on Friday, the U.S. benchmark, WTI Crude, rose by 1.36% to $68.51 per barrel. The international benchmark, Brent Crude, was trading higher by 1.19%, and returned above the $70 a barrel mark, at $70.39.

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Biggest oil and gas sector deals since start of the century

BOE Report

U.S. oil and gas major Chevron completed its $53 billion acquisition of Hess on Friday, after it prevailed in a landmark legal battle against larger rival Exxon Mobil to gain access to the biggest oil discovery in decades.

Gas
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Oil Prices Climb After the EU Imposes New Sanctions on Russia

OilPrice

Oil prices moved higher on Friday morning after the EU agreed to an 18th package of sanctions against Russia, but the effectiveness of the sanctions is yet to be seen. Friday, July 18th, 2025 The constant drumbeat of Russian sanction announcements is keeping Brent futures around $70 per barrel, with the European Union and its concept of a floating price cap taking centre stage this week.

Oil
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Bureau of Land Management Approves Geothermal Facility

Rigzone

The U.S. Bureau of Land Management announced that it had approved the 30-megawatt Crescent Valley geothermal energy production facility and associated transmission line.

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How Is Natural Gas Transported? The Journey from Wells to Your Home

True Natural Gas

Natural gas is a vital energy source for millions of households across the country. It powers stoves, heats homes, and fuels water heaters—but have you ever wondered how it gets from deep underground to your front door? The journey of natural gas from wells to homes is a complex and carefully managed process that ensures safety, reliability, and efficiency.

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British Oil Giants to Lead Revival of Libyan Oil and Gas Output at Key Sites

OilPrice

British oil giants BP and Shell last week signed a range of agreements with Libya’s National Oil Company (NOC) aimed at boosting the country’s oil and gas output recovery. Very few people outside the oil and gas industry appreciate the much broader and deeper strategic significance that often lies behind the announcement of new exploration and development deals or how that significance can be manifested on the ground.

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Oil Review Middle East - Untitled Article

Oil Review Middle East

Global gas flaring at upstream oil and gas facilities has risen for a second year in a row, according to the World Bank’s annual Global Gas Flaring Tracker Flaring rose by 2% to 151 billion cubic meters (bcm) in 2024, the highest level in almost two decades. Around 389mn tonnes of CO₂ equivalent – 46mn of that from unburnt methane, one of the most potent greenhouse gases – was needlessly emitted, wasting about US$63bn in lost energy and setting back efforts to reduce emissions and boost energy s

BCM
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Subsea7 wins contract for Equinor’s Fram Sør project, offshore Norway

Oil & Gas 360º

(World Oil) – Subsea7 has been awarded a large 1 contract by Equinor relating to the Fram Sør development project, offshore Norway, the company announced Thursday. Equinor’s Troll C platform, located 10-30 km from the Fram Sor development The project work scope covers engineering, procurement, construction and installation (EPCI) of subsea structures and flowlines including 53 km of production, gas lift and water injection lines.

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Why Isn't Canada Cutting Oil Production?

OilPrice

Why Isn’t Canada Cutting Oil Production? Canada’s oil sands giants, Suncor and Imperial Oil, have become North America’s lowest-cost producers, a key transformation in the upstream landscape as shale producers struggle to break even with new wells as WTI prices still linger around $65-68 per barrel. Whilst Alberta’s oil sands require substantial capital expenditures upfront, once the projects are online, operational costs can be greatly reduced by means of autonomous mining vehicles, smarter wat

Oil
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Exxon vs. Chevron battle sets stage for oil industry’s race for prize assets: Bousso

Oil & Gas 360º

(BOE Report) – LONDON, July 18 – The high-stakes clash between Exxon Mobil and Chevron over a prized South American oilfield may be a sign of what’s to come in the oil and gas industry as competition for a shrinking pool of prime assets heats up. Chevron is set to finalize its $53 billion acquisition of U.S. rival Hess after the companies prevailed in a legal dispute with Exxon over Hess’ 30% stake in Guyana’s fast-growing Stabroek oil block.

Oil
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EU Lowers Russian Oil Cap to $47.60

OilPrice

The European Union lowered the price cap on Russian crude oil to $47.60 from $60 per barrel as it adopted on Friday the 18th sanctions package against Russia, targeting a hundred more ‘shadow fleet’ tankers, energy trade, and traders and banks enabling it. Following weeks of negotiations and Slovakia holding up the required unanimous approval of the sanctions package, the EU finally agreed on the fresh sanctions after Slovakia lifted its veto.

Oil
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Virtual Power Plants: How to Power the Energy Economy by Stretching Today’s Grid

POWER Magazine

The challenge posed by surging demand for electricity from data centers and high-performance computing facilities presents an ideal time for innovative energy solutions that efficiently improve grid reliability and increase the availability of clean, affordable electricity. Not only does the U.S. risk missing more than $100 billion of artificial intelligence (AI) market growth over the […] The post Virtual Power Plants: How to Power the Energy Economy by Stretching Today’s Grid appeared fi

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US DOE Launches Nuclear Fuel Program to Support Advanced Reactor Testing

Rigzone

'This initiative will help end America's reliance on foreign sources of enriched uranium and critical materials, while opening the door for private sector investment in America's nuclear renaissance'.

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Qatar’s NFPS Ensures Legacy LNG Facilities Maintain Capacity

Mees

While international attention has focused on Qatar’s massive North Field Expansion projects, Doha is progressing with major projects to sustain its roughly 20bn cfd output from its current facilities.

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Mexico's Water Crisis Could Undermine Its Clean Energy Plans

OilPrice

Mexico’s new president is making a major play to reform the country’s energy industry for greater energy independence and sovereignty, as well as a cleaner energy future. While this bodes well for the Mexican economy and for global climate goals, there is a critical tradeoff for this new plan: a major shortage of freshwater in the regions where the energy industry plans to expand.

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EU Slaps New Sanctions on Russia and Its Oil Trade

Rigzone

EU states approved a fresh sanctions package on Russia over its war against Ukraine including a revised oil price cap, new banking restrictions, and curbs on fuels made from Russian petroleum.

IT
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Top 5 Frac Trends Reshaping Oil & Gas in 2025

Oil Gas Leads

The North American frac market is undergoing a transformation driven by innovation, capital discipline, and the relentless pursuit of efficiency. From triple-frac mega pads to fully automated completions, here are the top five trends defining hydraulic fracturing in 2025: 1. Triple-Frac Efficiency: Chevron’s Breakthrough Chevron is scaling a triple-frac strategy in the Permian, completing three wells simultaneously.

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Keep it simple and keep moving: An interview with Claudia Toussaint

McKinsey

Operating model redesigns are complex undertakings. Xylem’s chief people officer believes the company has found a winning formula by simplifying its goals and focusing on culture.

IT
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Siemens Gamesa Lines Up 63-Turbine Order for German Offshore Wind Farm

Offshore Engineer

Skyborn Renewables has confirmed the execution of the Turbine Supply Agreement (TSA) and the Offshore Long Term Program Service Agreement (LTPSA) with Siemens Gamesa…

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What Is The Biggest Oil Discovery of All Time?

Rigzone

SEARCH JOBS >> CREATE ACCOUNT SIGN IN Oil & Gas Jobs ▼ Search Jobs Jobs By Category Featured Employers Ideal Employer Rankings Oil & Gas News ▼ Headlines Most Popular Oil Prices Events Training Equipment SOCIAL Rigzone AI ▼ RigzoneGPT Chatbot Recruitment Job Postings & Talent Database Packages Search CV/Resumes Recruitment Dashboard Post Job FAQ | Advertise WTI Crude $68.78 +1.84% Brent Crude $70.63 +1.6% Natural Gas $3.56 +0.42% Latest Oil Prices SUBSCRIBE SEARCH ARTICLES NEWS

Oil
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Chevron Emerges as Winner in ExxonMobil Dispute Over Guyana Oil Field

Offshore Engineer

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…

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Energy Transfer to Bolster Gathering Network in the Delaware and Anadarko Basins

Oil Gas Leads

Energy Transfer (NYSE: ET) continues to scale its natural gas infrastructure footprint in Texas, receiving approval from the Railroad Commission of Texas (RRC) for a sweeping pipeline permit that spans more than 8,100 miles. The permit—T-4 Permit #09207—supports a mix of regulated and unregulated gas gathering and utility infrastructure across key production areas including the Delaware and Anadarko basins.

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New Mexico lease auction nets record $56 million for state’s public schools

Permian Basin Oil and Gas Magazine

For the first time, New Mexico State Land Office auctioned oil and gas leases at the new 25 percent royalty rate. The new state law, which took effect June 20, allowed the State Land Office to offer its prime parcels in core of Delaware Basin at market rates. That resulted in a record-breaking auction that closed July 15 and generated more than $56 million for public schools.

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Cierco Energy and MPS Team Up for Celtic Sea Floating Wind Demo

Offshore Engineer

Cierco Energy and Marine Power Systems (MPS) have signed a memorandum of understanding (MoU) as a first step towards the deployment of MPS’ PelaFlex technology in…

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Oil prices climb after the EU imposes new sanctions on Russia

Oil & Gas 360º

(Oil Price) – Oil prices moved higher on Friday morning after the EU agreed to an 18th package of sanctions against Russia, but the effectiveness of the sanctions is yet to be seen. Oil prices rose on Friday after the EU adopted its 18th sanctions package against Russia, lowering the price cap, targeting Russian oil trade, and closing a loophole that has so far allowed EU imports of fuels processed from Russian crude.

Oil
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ABL to Deliver Grid Works for 600MW French Offshore Wind Farm

Offshore Engineer

Energy and marine consultancy ABL has been awarded a contract to provide marine warranty survey (MWS) services to Réseau de Transport d’Électricité (RTE) for installation…

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SLB Sees 'Constructive' Second Half of 2025

Rigzone

SEARCH JOBS >> CREATE ACCOUNT SIGN IN Oil & Gas Jobs ▼ Search Jobs Jobs By Category Featured Employers Ideal Employer Rankings Oil & Gas News ▼ Headlines Most Popular Oil Prices Events Training Equipment SOCIAL Rigzone AI ▼ RigzoneGPT Chatbot Recruitment Job Postings & Talent Database Packages Search CV/Resumes Recruitment Dashboard Post Job FAQ | Advertise WTI Crude $67.34 -0.3% Brent Crude $69.28 -0.35% Natural Gas $3.57 +0.65% Latest Oil Prices SUBSCRIBE SEARCH ARTICLES NEWS

Oil
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China Rolls Out 17MW Floating Wind Turbine Prototype

Offshore Engineer

The world’s most powerful direct-drive floating offshore wind turbine, rated at 17 MW and co-developed by Dongfang Electric Corporation and China Huaneng, has been rolled out in China…

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MDN’s Energy Stories of Interest: Fri, Jul 18, 2025 [FREE ACCESS]

Marcellus Drilling News

OTHER U.S. REGIONS: Cameron LNG marks 1,000th cargo milestone; NATIONAL: USA crude oil stocks drop week on week; EPA announces next phase of organizational improvements; The Big Beautiful Bill is a big win for American energy; Chevron moves forward with megadeal for Hess after winning Exxon arbitration; BP sells US onshore wind assets to LS.

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CorPower Ocean Welcomes Two International Strategic Investors

Offshore Engineer

Swedish wave energy firm CorPower Ocean has secured two new strategic investors - Acario, the Silicon Valley-based venture investment arm of Tokyo Gas, and GTT Strategic Ventures…

Gas
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Talen Energy Buys 2 M-U Gas-Powered Plants in PA, OH for $3.8B

Marcellus Drilling News

Talen Energy, a leading energy producer in the U.S., which owns and operates approximately 10.7 gigawatts (GW) of power infrastructure, has announced the acquisition of two gas-fired power plants: one located near Wilkes-Barre in northeastern Pennsylvania, and the other in Guernsey County, in eastern Ohio, for $3.8 billion. The PA plant is fed by Marcellus.

Gas
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Fortescue Halts New U.S. Green Energy Projects

OilPrice

Australia’s energy and metals group Fortescue is reassessing timelines and pausing green energy project developments in the United States following the latest U.S. legislation to phase out renewable energy incentives, Fortescue’s founder and executive chairman, Andrew Forrest, told the Wall Street Journal in an interview. President Trump’s tax and spending act, the One Big Beautiful Bill Act, passed earlier this month, contains punitive provisions on renewables in the U.S.

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NAMIBIA: Sintana Energy Receives PEL 79 License Extension

Oil News Africa

The joint venture partners of PEL 79 which include the National Petroleum Corporation of Namibia (Pty) Ltd. (NAMCOR) and Giraffe Energy , an entity in which Sintana maintains a 49% … Read More The post NAMIBIA: Sintana Energy Receives PEL 79 License Extension appeared first on oilnewsafrica.

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US Sanctions On VS Oil Terminal Give Iraq a Headache

Mees

Sanctions by the US on private Iraqi products terminal VS Oil are forcing state marketer Somo to find storage alternatives. Failure to find floating storage soon could result in a disruption to fuel oil exports, forcing temporary refinery closures and lower runs this summer.

Oil
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Is your Data Center ready for the ban on SF6 MV switchgear in the EU?

Schneider Electric: Energy Management

Data Centers need more power and less CO2e The ongoing expansion of digital services and the growing field of artificial intelligence are fueling rapid growth in the data center sector. Industry forecasts suggest significant expansion in European data center capacity in the coming years. This. The post Is your Data Center ready for the ban on SF6 MV switchgear in the EU?

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USA EIA Reveals Latest USA Diesel Price Forecast

Rigzone

SEARCH JOBS >> CREATE ACCOUNT SIGN IN Oil & Gas Jobs ▼ Search Jobs Jobs By Category Featured Employers Ideal Employer Rankings Oil & Gas News ▼ Headlines Most Popular Oil Prices Events Training Equipment SOCIAL Rigzone AI ▼ RigzoneGPT Chatbot Recruitment Job Postings & Talent Database Packages Search CV/Resumes Recruitment Dashboard Post Job FAQ | Advertise WTI Crude $67.34 -0.3% Brent Crude $69.28 -0.35% Natural Gas $3.57 +0.65% Latest Oil Prices SUBSCRIBE SEARCH ARTICLES NEWS

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