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

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