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(BOE Report) – CALGARY – Strathcona Resources Ltd. has begun its formal takeover bid for fellow oilsands producer MEG Energy. Its offer comprises 0.62 of a common share of Strathcona and $4.10 in cash for each MEG share it doesn’t already own. The offer is open until Sept. MEG says its board and legal and financial advisers will consider the offer, and that a special committee of independent directors will assist. The target company is urging shareholders to take no action until it has made a recommendation, which it expects to do within 15 days. Strathcona also announced an equity commitment letter with Waterous…
New Delhi: Foreign oil and gas companies entering technical partnerships with Indian firms will be granted the right of first refusal (ROFR) in the event of hydrocarbon discoveries, Petroleum and Natural Gas Minister Hardeep Singh Puri said on Friday.The minister cited state-run ONGC’s recent collaboration with BP for the Mumbai High offshore field and Oil India Ltd’s agreement with Brazil’s Petrobras in the Andaman Sea basin as examples where such provisions are in place. However, no clarification was provided on the exact contractual terms offered to BP and Petrobras.The ROFR mechanism gives the foreign partner the option to match any…
New Delhi: India’s natural gas availability for sale rose by 9.7 per cent to 5,416 million standard cubic metres (MMSCM) in April 2025 compared to 4,936 MMSCM in April 2024, according to provisional data released by the Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas.The increase in overall availability was driven by a 19.1 per cent rise in liquefied natural gas (LNG) imports, which stood at 2,977 MMSCM in April 2025 against 2,499 MMSCM in the corresponding month of the previous year.Gross domestic natural gas production fell to 2,908 MMSCM in April 2025, marking…
Image: Devon Energy (Bloomberg) – bp Plc appointed oil industry veteran Dave Hager to the board, bolstering its efforts to refocus on fossil fuels and keep investors on side. Hager has been in the sector for more than 40 years, recently leading U.S. shale producer Devon Energy Corp. as chief executive and then executive chairman. He’ll bring oil and gas expertise to a board that currently features little of it. His appointment follows a pledge by CEO Murray Auchincloss to pivot back to bp’s core business following years of underperformance, which stemmed in large part from the net zero strategy…
(World Oil) – Exxon Mobil Corp. said it will be “business as usual” in its massive Guyana oil field if it loses its arbitration case against Chevron Corp. and Hess Corp. Exxon remains confident it will prevail in the case over the field’s ownership at the International Chamber of Commerce, Neil Chapman, Exxon’s senior vice president, said at the Bernstein Strategic Decisions Conference in New York on Thursday. But there will be “no change for us” if Exxon loses, he said. The ICC hearing ended this week and the panel of three judges is now considering its conclusions, Chapman said. Chevron…
United States President Donald Trump has announced his administration is raising tariffs on steel imports from 25 percent to 50 percent. Speaking to steelworkers and supporters at a rally outside Pittsburgh, Pennsylvania, Trump framed his latest tariff increase as a boon to the domestic manufacturing industry. “We’re going to bring it from 25 percent to 50 percent, the tariffs on steel into the United States of America, which will even further secure the steel industry in the United States,” Trump told the crowd. “Nobody’s going to get around that.” How that tariff increase would affect the free-trade deal with Canada…
Specialist drilling waste management company, TWMA*, has published its first quarter results for 2025, including revenue of $16.4million and EBITDA of $4.1m. The results follow a period of progress on key Group strategic initiatives, positioning TWMA for future expansion. TWMA’s RotoMill technology Contributing to 67% utilization of TWMA’s RotoMill** fleet, UAE operations have continued to expand. Key successes include a one-plus one-year contract extension for the ‘Upper Zakum’ project’ and a new call-off to provide drilling waste management services to an additional new island on the ‘Lower Zakum’ field. Additionally, construction of the world’s largest onshore processing facility…
Hester Peirce, commissioner of the US Securities and Exchange Commission (SEC), speaks during the DC Blockchain Summit in Washington, D.C., on Tuesday, May 24, 2022.Valerie Plesch | Bloomberg | Getty ImagesLAS VEGAS — Now that the SEC is out of the business of regulating meme coins, investors shouldn’t expect any guidance on $TRUMP, according to Hester Peirce, one of the agency’s veteran commissioners.The SEC said in February that it does not deem most meme coins securities under U.S. federal law. That took the crypto tokens out of its purview just weeks after President Donald Trump launched his own meme coin…
Bitcoin 2025 brought together thousands of investors, builders, and believers for a showcase of crypto’s next chapter.MacKenzie SigalosLAS VEGAS — At the world’s largest bitcoin conference this week on the Vegas Strip, the most consequential story wasn’t about bitcoin.Stablecoins, the dollar-pegged digital tokens now driving a full-scale financial and political shift in Washington, stole the show.The momentum behind stablecoin legislation and crypto market reform is accelerating — and it’s attracting a new kind of donor, investor, and voter. That shift took center stage at Bitcoin 2025 in Las Vegas.Vice President JD Vance became the first sitting U.S. vice president to…
(Oil Price) – Crude oil and natural gas investments in Colombia could rise to $4.68 billion this year, from $4.33 billion in 2024, the country’s oil and gas industry association said, adding that this will not lead to higher production. “Today more investment is required to produce the same amount of oil, due to the natural depletion of the fields and the complexity of the operating environment,” the president of the Colombian Oil and Gas Association said, as quoted by Reuters. Of this total, the bulk, or $3.94 billion, would be spent on production, with the remainder of $740 million channeled into exploration.…