Tag

Oilandgas

All articles tagged with #oilandgas

environment1 year ago•11 min saved

Methane Emissions: A Growing Threat to Climate Goals at COP29

Oil and gas companies are under scrutiny for disguising methane emissions, a potent greenhouse gas, as detected by satellites near the COP29 climate summit in Azerbaijan. Despite global pledges to reduce methane emissions, the energy sector's emissions remain high, with many leaks and flares going unreported or underreported. New satellite technology is improving detection, but comprehensive global monitoring and stricter regulations are needed to address the issue effectively. Methane reductions are crucial for mitigating climate change, as the gas is significantly more potent than CO2 in the short term.

via Financial Times|

#climatechange #cop29 #environment

politics2 years ago•2 min saved

"Former Energy Minister Chris Skidmore Resigns as Tory MP Over Sunak's Oil and Gas Strategy"

Chris Skidmore, a Conservative MP, has announced his resignation over the UK government's plans to guarantee annual oil and gas licensing rounds, which he believes contradicts the country's climate commitments. His departure triggers a by-election in his Kingswood constituency and adds to the challenges faced by Prime Minister Rishi Sunak. Skidmore, who was instrumental in signing the UK's 2050 net zero commitment into law, criticized the bill for undermining the UK's climate leadership. Opposition parties have commented on the situation, with Labour's Ed Miliband supporting Skidmore's decision and the Liberal Democrats and Green Party criticizing the government's environmental track record.

via BBC.com|

##byelection #chrisskidmore

business-and-finance2 years ago•1 min saved

"APA Expands Shale Footprint with $4.5 Billion All-Stock Callon Acquisition Amid Energy Deal Surge"

APA Corporation is set to acquire Callon Petroleum Company in a $4.5 billion all-stock deal, which includes Callon's net debt. This acquisition will bolster APA's presence in the Permian Basin, particularly in the Delaware Basin, and is part of a broader trend of consolidation in the U.S. oil industry. The combined company will have a production capacity exceeding 500,000 boe per day and an enterprise value of over $21 billion. The deal is expected to close in the second quarter of 2024, pending shareholder and regulatory approvals.

via OilPrice.com|

##apa #business-and-finance

business-and-finance2 years ago•14 min saved

"APA Corporation Seals $4.5 Billion All-Stock Deal for Callon Petroleum Acquisition"

APA Corporation has announced an all-stock transaction to acquire Callon Petroleum Company, valued at approximately $4.5 billion, including Callon's net debt. The deal is expected to be accretive to APA's financial metrics, enhance its Permian Basin asset base, and increase its pro forma production to over 500,000 BOE per day. The transaction will see Callon shareholders receive 1.0425 shares of APA for each share of Callon, with the combined enterprise value exceeding $21 billion. The merger is anticipated to close in the second quarter of 2024, subject to shareholder and regulatory approvals.

via Callon Petroleum Company|

##apacorporation #business-and-finance

business-and-economy2 years ago•0 min saved

"Oil Prices Dip Below $80 Amid Easing Red Sea Tensions and Shale Supply Surge"

Despite escalating conflicts in the Middle East, particularly attacks on ships by Iranian-backed Houthi militants near Yemen, a significant increase in American shale oil and gas production and exports has kept global energy supplies stable. This unexpected boost in U.S. output has contributed to a decrease in oil and gas prices by about 5% and 23%, respectively, mitigating concerns over potential disruptions in one of the world's crucial shipping lanes.

via The Wall Street Journal|

##business-and-economy #energyprices