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- Midstream Mergers Continue
Midstream Mergers Continue
Phillips 66 Acquisition Deal, Exxon’s Proxy Battle Escalates, ADNOC’s US LNG Move, Iranian President’s Death, North Sea Tax Turmoil
Oil and Gas industry news for A&D professionals. Your daily source for the latest A&D/M&A news, industry news, and expert interviews.
What Caught My Attention:
Phillips 66 is set to acquire Pinnacle Midland for $550 million, marking a significant consolidation in the midstream sector and highlighting ongoing investment in infrastructure. Reuters
Iran’s Oil Market Impact - Oil prices remain stable despite the death of the Iranian president. | ADNOC’s US LNG Move - ADNOC stakes its claim in US LNG market with a strategic acquisition. | North Sea Tax Turmoil - North Sea energy firms reconsider operations amid new tax pressures. |
Daily Headlines
Global Oil Markets Weaken - Sluggish demand leaves an overhang in global oil markets, raising concerns about future stability. Oil & Gas 360
Oil Prices Unmoved by Iranian President’s Death - The death of Iran’s president has minimal impact on oil prices, experts downplay production stability concerns. Upstream Online
Favoured Customer Contract for Hyundai LNG’s Carriers Fleet - Seatrium secures a significant contract for Hyundai LNG's carriers fleet, strengthening its market position. Upstream Online
US Oil and Gas Rigs Increase - US drillers add oil and gas rigs for the first time in four weeks, signaling potential production growth. OE Digital
Biden Administration’s Energy Policy Criticized - Texas regulator accuses Biden of shutting down American oil and gas production under the guise of environmental protection. Texas Insider
North Sea Energy Firms Look Beyond UK - Tax pressures drive North Sea energy firms to explore opportunities outside the UK. BOE Report
Halliburton Boosts Local Content in Africa - Halliburton seeks to increase its involvement in African oil and gas ventures by enhancing local content. Africa.com
Contract Momentum Declines in Q1 2024 - Oil and gas contract awards see a significant decline in the first quarter of 2024, reflecting market uncertainty. Offshore Technology
ADNOC Stake in Rio LNG - ADNOC acquires a stake in Rio LNG, continuing its aggressive expansion strategy. Offshore Technology
Houthis Attack Oil Tanker - Houthis launch an attack on an oil tanker heading towards China through the Red Sea, raising security concerns. Offshore Technology
DOE’s LNG Pause Lawsuit - A new lawsuit challenges the Department of Energy’s pause on LNG approvals, calling it unconstitutional. E&E News
Saipem Secures $850M Contract - Saipem wins an $850 million contract, boosting its order backlog and market presence. Offshore Technology
Race to End Fossil Fuel Production - Efforts to phase out fossil fuel production intensify amid global climate commitments. Resilience
Climate America Joins Fossil Fuel Club - Despite climate goals, America aligns with other nations in continuing fossil fuel production. Bloomberg
India’s Oil and Gas Import Bill Skyrockets - India’s oil and gas import bill sees a significant rise in April, impacting its economic stability. NewsBytes
TotalEnergies’ Dangote Refinery Supply Deal - TotalEnergies secures a supply deal with Dangote Refinery, enhancing its supply chain in Africa. Offshore Technology
Serica Energy Calls for Government Action on North Sea Taxes - Serica Energy urges the UK government to address the impact of taxes on North Sea operations. OGV Energy
US Drillers Add Oil and Gas Rigs - US drillers increase oil and gas rigs for the first time in four weeks, hinting at potential production growth. OE Digital
Halliburton Boosts Local Content in Africa - Halliburton aims to increase its involvement in African oil and gas ventures by enhancing local content.Africa.com
Contract Momentum Declines in Q1 2024 - Oil and gas contract awards see a significant decline in the first quarter of 2024, reflecting market uncertainty. Offshore Technology
Deal Flow
M&A/Investment
ADNOC’s Stake in Rio LNG - ADNOC acquires a stake in Rio LNG, continuing its aggressive expansion strategy in the global LNG market. Offshore Technology
Phillips 66 Acquires Pinnacle Midland - Phillips 66 is set to acquire Pinnacle Midland for $550 million, marking a significant consolidation in the midstream sector. Reuters
3R Petroleum to Merge with Enauta - 3R Petroleum announces a merger with Enauta, enhancing its operational capabilities and market presence. Offshore Technology
IPO/Direct Listing/Issuances/Block Trades
No articles fitting this category were noted.
Debt
TotalEnergies Secures Dangote Refinery Supply Deal - TotalEnergies secures a supply deal with Dangote Refinery, strengthening its supply chain in Africa. Offshore Technology