Company News
Venture Global LNG Reports $4.85 Billion in 2023 Profits Amid IPO Buzz
Venture Global LNG reported $4.85 billion in operating income for 2023, marking its second year of operations. As the company prepares for a stock market listing, financial documents reveal ambitious plans for expanding its LNG export facilities and significant revenue growth.
Chevron CEO Wirth Under Fire as Hess Deal Delay Drags Down Stock Performance
Chevron CEO Michael Wirth faces mounting pressure as the company's stock slides amid delays in the $53 billion acquisition of Hess. The stalled deal, crucial for growth, coincides with declining earnings and rising operational costs, raising concerns among investors about Chevron's future direction.
Petronas Plans “Aggressive” Expansion With New Hub in Indonesia
Malaysian state energy firm Petronas plans an "aggressive" expansion in Indonesia, which includes creating a hub for its East Java operations and investing in exploration for country's eastern regions.
2024 Midstream Winners Honored at Gulf Energy Information Excellence Awards Gala in Houston
The 2024 Gulf Energy Information Excellence Awards was held on Wednesday evening at the Post Oak Hotel in Houston, Texas (U.S.). The black-tie gala recognized the energy industry’s leading innovations and thought leaders.
Exxon Board Member Gregory Goff Joins Elliott Group's Bid to Acquire Citgo Petroleum
Exxon board member Gregory Goff has joined Amber Energy, an Elliott-backed company, in a bid to acquire Citgo Petroleum through a U.S. court auction. The deal aims to resolve Venezuela’s debts, placing a $7.28 billion enterprise value on the Houston-based oil refiner.
Business August 2024
Stay informed about the latest appointments, expansions, and industry insights in this concise business column. From new executive roles at leading companies to strategic manufacturing ventures, get key updates shaping the corporate landscape. Plus, stay in the loop with association initiatives and industry events.
Business
Stay informed about the latest appointments, expansions, and industry insights in this concise business column. From new executive roles at leading companies to strategic manufacturing ventures, get key updates shaping the corporate landscape. Plus, stay in the loop with association initiatives and industry events.
Kimmeridge Acquires 90% Stake in Commonwealth LNG
Private equity firm Kimmeridge, through its subsidiary Kimmeridge Texas Gas, has acquired a 90% stake in proposed U.S. liquefied natural gas export project Commonwealth LNG, it said on Tuesday.
Equitrans and EQT Announce Preferred Stock Election Deadline Ahead of Merger
Equitrans Midstream Corp. and EQT Corp. have announced the deadline for record holders of Equitrans Series A Perpetual Convertible Preferred Shares to elect their form of consideration in connection with the upcoming merger.
Mega-Deals Reshaping How Midstream Business Is Done
Explore how mega-deals are reshaping the midstream oil and gas industry, providing growth and stability amid regulatory challenges and limited organic expansion opportunities.
Consolidation Trends Persist in U.S. Energy Sector in 2024
The consolidation wave in the U.S. energy sector that triggered $250 billion worth of deals in 2023 has stretched into this year, as companies look for opportunities to deploy their cash hoard and boost their reserves.
Aethon Energy to Acquire Tellurian's Upstream Assets for $260 Million
Aethon Energy said it would buy Tellurian's upstream assets for $260 million and signed a deal that could allow the investment firm to purchase two million tons per annum of LNG from Tellurian's Driftwood LNG plant.
ConocoPhillips to Acquire Marathon Oil in $22.5 Billion Deal Amid Ongoing Energy Mergers
ConocoPhillips has agreed to acquire Marathon Oil in an all-stock transaction valued at $22.5 billion, the latest in a series of mega-mergers in the oil and gas industry as companies look to bolster reserves.
Business
Stay informed about the latest appointments, expansions, and industry insights in this concise business column. From new executive roles at leading companies to strategic manufacturing ventures, get key updates shaping the corporate landscape. Plus, stay in the loop with association initiatives and industry events.
Exxon's $60 Billion Pioneer Merger Deal Poised for FTC Approval, Pending Key Condition
The FTC is likely to approve ExxonMobil's $60 billion buyout of Pioneer Natural Resources, but former Pioneer CEO Scott Sheffield's exclusion from the merged board may be crucial for finalizing the deal.
Business News March 2024
Association news, personnel changes and mergers and acquisitions in March 2024!
Business News January 2024
Association news, personnel changes and mergers and acquisitions in January 2024!
19th Pipeline Technology Conference Returns to Berlin in 2024
(P&GJ) — The 19th Pipeline Technology Conference (ptc) is set to return to Berlin, Germany, from April 8 to 11, 2024, bringing together global experts and innovators in the pipeline industry.
BP Short-Lists Three Internal Candidates for CEO
BP's board has short-listed interim CEO Murray Auchincloss and two senior female executives as internal candidates to replace Bernard Looney as chief executive, three company and industry sources told Reuters.
U.S. LNG Developer Tellurian Ousts Co-Founder Souki as Chairman
Tellurian ousted its chairman and co-founder Charif Souki as an executive officer, the U.S. liquefied natural gas (LNG) developer said on Friday, weeks after auditors raised doubts about the company's ability to cover future expenses.
Business News December 2023
Association news, personnel changes and mergers and acquisitions in December 2023!
India Energy Week to Showcase India’s Leadership in the Global Energy Landscape
(P&GJ) — The second edition of India Energy Week (IEW) will be hosted in Goa from February 6th to 9th 2024, by the Federation of Indian Petroleum [FIPI] Industry, under the aegis of Ministry of Petroleum and Natural Gas, Government of India.
AMPP Gulf Coast Area to Host Inaugural Conference in Houston
(P&GJ) — The AMPP Gulf Coast Conference is set to debut in Houston, Texas, from Monday, Aug. 5 to Wednesday, Aug. 7, 2024. This inaugural event marks a significant milestone for the AMPP Gulf Coast Area, bringing together Association for Materials Protection and Performance (AMPP) members, industry leaders, experts, and professionals in corrosion prevention and materials performance.
ROSEN Founder Sells Majority Stake to Partners Group
(P&GJ) — Hermann Rosen, founder of ROSEN Group, has sold a majority stake in ROSEN to the global private markets firm Partners Group, as part of his succession planning.
Occidental Petroleum Beats Q3 Estimates on Higher Production
Occidental Petroleum on Tuesday beat analysts' third-quarter profit estimates on strong U.S. oil production, but its results were well below a year ago due to lower energy prices and weaker chemical and pipeline results.
Opinion: Chevron’s $53 Billion Deal Is a Risky Imitation of Exxon's Strategy
Chevron has decided, like Exxon Mobil, that it’s better to discover oil on the New York Stock Exchange than drilling in the ground. The $318 billion oil giant said Monday it would buy New York-based Hess for $53 billion in an all-stock deal.
Business News October 2023
Association news, personnel changes and mergers and acquisitions in October 2023!
TC Energy Names Ex-CEO as Chair of Oil Pipeline Business
Canadian pipeline operator TC Energy on Thursday named industry veteran and former CEO Hal Kvisle as the chair of its oil pipeline unit.
Chevron Australia, Unions Make Progress in LNG Talks, Deal Remains Elusive
Negotiations over a stalled pay and conditions deal between Chevron and unions at its LNG facilities in Australia made progress on Friday but fell short of sealing an agreement to end months of labor disputes at the major export sites.
Midstream Winners Honored at Gulf Energy Information Excellence Awards Gala
(P&GJ) — Pipeline & Gas Journal is excited to announce the winners of the midstream categories at the inaugural Gulf Energy Information Excellence Awards. Industry experts gathered at Houston's Post Oak Hotel for a grand gala, combining the recognition programs of World Oil, Hydrocarbon Processing, Pipeline & Gas Journal, and Petroleum Economist.
- Energy Transfer Subsidiary Selects KTJV for Lake Charles LNG Export Project
- Phillips 66 to Shut LA Oil Refinery, Ending Major Gasoline Output Amid Supply Concerns
- FERC Sides with Williams in Texas-Louisiana Pipeline Dispute with Energy Transfer
- U.S. Appeals Court Blocks Kinder Morgan’s Tennessee Pipeline Permits
- ConocoPhillips Eyes Sale of $1 Billion Permian Assets Amid Marathon Acquisition
- U.S. Appeals Court Blocks Kinder Morgan’s Tennessee Pipeline Permits
- Malaysia’s Oil Exports to China Surge Amid Broader Import Decline
- U.S. LNG Export Growth Faces Uncertainty as Trump’s Tariff Proposal Looms, Analysts Say
- Marathon Oil to Lay Off Over 500 Texas Workers Ahead of ConocoPhillips Merger
- Valero Considers All Options, Including Sale, for California Refineries Amid Regulatory Pressure
