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Aster Chemicals and Energy (Aster) has agreed to acquire Chevron Phillips Singapore Chemicals Pte Ltd (CPSC). CPSC is a joint venture between Chevron Phillips Chemical, EDB Investments Pte Ltd, and Sumitomo Chemical Co Ltd. According to Chevron Phillips Chemical, CPSC shareholders have agreed to sell 100 percent of their shares. With the acquisition of CPSC, Aster has secured ownership of a 400,000 tons per annum high-density polyethylene manufacturing facility on Jurong Island, Singapore. The facility is owned and operated by CPSC, and following the acquisition, the company’s 150 employees are expected to have an opportunity to join Aster, Chevron Phillips…

(Oil Price) – OPEC+ served two surprises to the oil trading world in a matter of weeks. First, it said it would bring back three times the amount of oil supply it planned to originally in May. Then, it said it would repeat the exercise in June. And then it emerged that Saudi Arabia is raising selling prices for Asia when it would have made more sense to cut them, on the face of it. OPEC+ is in the spotlight and it’s probably enjoying it as prices slide further down and U.S. shale drillers curb activity. OPEC+ said in April it…

The four-day historic storm that caused death and destruction across the central Mississippi valley in early April was made significantly more likely and more severe by burning fossil fuels, rapid analysis by a coalition of leading climate scientists has found.Record quantities of rain were dumped across eight southern and midwestern states between 3 and 6 April, causing widespread catastrophic flooding that killed at least 15 people, inundated crops, wrecked homes, swept away vehicles and caused power outages for hundreds of thousands of households.The floods were caused by rainfall made about 9% more intense and 40% more likely by human-caused climate…

Natural Gas (NG) Price Chart Natural Gas Futures are trading around $3.637, holding above a rising trendline that has supported the recent recovery. The 50-day exponential moving average (EMA) at $3.503 is providing additional support, reflecting a shift in short-term momentum after a prolonged downtrend. Immediate resistance is at $3.721, a key level that, if breached, could open the path towards the next significant hurdle at $3.864. On the downside, initial support sits at $3.452, a critical pivot point that aligns with the recent trendline, while deeper support is found at $3.310, a level that has previously attracted strong buying…

Viridien has sold its Sercel Marlin™ Offshore Logistics management solution to Oil and Natural Gas Corporation (ONGC) to enhance operational efficiency and safety across its Western offshore E&P operations in India. The sale includes a five-year contract to provide ONGC with dedicated on-premises Sercel software and support services. The Sercel Marlin Offshore Logistics solution will digitize and streamline ONGC’s complex offshore E&P logistics, increasing situational awareness through real-time vessel tracking and boosting efficiency in operational planning while also managing helicopter transit. Seamless integration with ONGC’s market-leading ERP systems will also ensure efficient data exchange and decision-making. Additionally, Marlin’s advanced…

Russia’s federal budget deficit surged in April as declining oil revenue and rising military spending continue to strain government finances. The monthly shortfall reached 1.05 trillion rubles ($13 billion) after being in surplus a month earlier, according to Bloomberg calculations based on data from the Finance Ministry. That brings the cumulative deficit for the first four months of the year to 3.2 trillion rubles – nearly triple the level recorded over the same period in 2024. Oil and gas revenue, the backbone of Russia’s state finances, dropped by 12 percent in April from a year earlier, the third consecutive monthly decline. Russia…

India’s successful energy transition hinges on the ability to diversify the energy mix. More importantly progressive energy transition depends on the indigenous economically viable clean energy solutions available to large sections of users. Often, the promising and emerging domestic clean energy solutions struggle to make meaningful impact due to other competing clean energy options. Some of the extremely promising clean energy solutions get policy backing but fail to convert intentions into groundbreaking actions. Occasionally such options remain at the epicentre of media coverage and policy briefing. For instance, the National Biofuel Policy highlighted the increasing role of compressed biogas (CBG)…

Permian Resources has reached an agreement to buy core assets in the Delaware basin from Apache parent company APA Corp. The deal, valued at $608 million, includes 13,320 net acres, 8,700 net royalty acres and 12,000 Boe/d directly offset Permian Resources’ core New Mexico operating areas. The transaction is expected to close by the end of the second quarter of 2025. “This acquisition is a natural fit for us and has material upside that Permian Resources is uniquely positioned to realize,” said James Walter, Co-CEO of Permian Resources. “We continue to grow our high return inventory, our net…

Human-caused climate change intensified deadly rainfall in Arkansas, Kentucky, Tennessee and other states in early April and made those storms more likely to occur, according to an analysis released Thursday by the World Weather Attribution group of scientists.The series of storms unleashed tornadoes, strong winds and extreme rainfall in the central Mississippi Valley region from April 3-6 and caused at least 24 deaths. Homes, roads and vehicles were inundated and 15 deaths were likely caused by catastrophic floods.The WWA analysis found that climate change increased rainfall intensity in the storms by 9% and made them 40% more likely compared to…

Woodside Energy has withstood a rebuke by shareholders of its climate plans by garnering sufficient support to retain its chosen board members and approve executive pay plans at a fiery annual general meeting on Thursday.A diverse group of investors, including fund managers and governance organisations, opposed the re-election of high-profile Woodside director Ann Pickard, a former Shell executive who chairs the committee responsible for overseeing climate risk at the Perth-headquartered oil and gas company.There was also a push by shareholders to vote down Woodside’s remuneration report.While there was a moderate protest vote recorded against both resolutions, Pickard was re-elected with…