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By Julianne Geiger – Jun 27, 2025, 12:24 PM CDT The total number of active drilling rigs for oil and gas in the United States fell yet again this week, according to new data that Baker Hughes published on Friday, following a 1-rig decrease in the week prior.The total rig count in the US fell by 7 to 547 rigs, according to Baker Hughes, down 34 from this same time last year.The number of oil rigs fell by 6 to 432 after falling by 1 during the previous week—and down by 47 compared to this time last year. The number…
Stay informed with free updatesSimply sign up to the Investments myFT Digest — delivered directly to your inbox.Buying energy stocks at the beginning of a potential energy crisis is one way to offer some protection against whatever comes next from the Middle East. Jadestone Energy could see both an operational and price upswing in the coming weeks if tensions remain high around the Strait of Hormuz. Jadestone director Gunter Waldner will certainly be hoping as much. Last week, the fund for which he is co-chief investment officer, Tyrus Capital, bought another £933,333 of shares, taking its stake in the company to 27.4…
Alberta expects to have booked a budget surplus of about US$4.2 billion (C$5.8 billion) for the fiscal year 2024-2025 that ended in March, as Nate Horner, the finance minister of Canada’s oil-producing province, prepares to deliver the year-end fiscal update later on Friday. The unexpectedly large surplus for 2024-2025 was due to higher resource royalties, RBC said earlier this year. However, Alberta expects a large deficit of about US$3.8 billion (C$5.2 billion) for the current fiscal year 2025-2026 which began in April. The expected deficit, which would be the first after four consecutive years of surpluses, is attributed to the U.S. trade risks…
(WO) — TotalEnergies has agreed to acquire the 25 % interest held by Moeve (formerly CEPSA) in Block 53 offshore Suriname, expanding its position in a basin the company already operates. The transaction aligns TotalEnergies with APA Corporation (45 %, operator) and Petronas (30 %) on the licence, which lies directly east of Block 58. TotalEnergies (40 %*) and partners sanctioned the GranMorgu development in Block 58 last October. Block 53 contains the Baja-1 discovery, drilled near the block border. “This acquisition brings new resources to the development of our low-cost and low-emission GranMorgu project,” said Javier Rielo, Senior Vice…
Car Online, an Iran-based campaign on social media channels, has started to call on its subscribers and followers to incite Yemenis to target facilities of Saudi oil giant Aramco, as a revenge against U.S. strikes against Iranian nuclear sites, the Foundation for Defense of Democracies (FDD) says. The Car Online channel on Telegram began its life as an Iranian social media operation, FDD researchers uncovered last week. During the so-called 12-day war between Israel and Iran, the Car Online operation was instructing followers how to create fake X accounts and use ChatGPT to translate posts from Persian into Hebrew—posts that were…
(WO) — TotalEnergies has agreed to acquire the 25 % interest held by Moeve (formerly CEPSA) in Block 53 offshore Suriname, expanding its position in a basin the company already operates. The transaction aligns TotalEnergies with APA Corporation (45 %, operator) and Petronas (30 %) on the licence, which lies directly east of Block 58. TotalEnergies (40 %*) and partners sanctioned the GranMorgu development in Block 58 last October. Block 53 contains the Baja-1 discovery, drilled near the block border. “This acquisition brings new resources to the development of our low-cost and low-emission GranMorgu project,” said Javier Rielo, Senior Vice…
On Sunday morning, in response to the geopolitical shock of the US bombing Iran, I turned to ChatGPT’s Deep Research tool. I asked it to spend three hours analyzing the situation to come up with five US stock trades that would make money through this Thursday. I did this before Asian markets opened, so the tool had to make predictions about the future with little to no clues from real-time market data. This is a real test of whether AI models and chatbots can generate valuable new insights, or whether they just regurgitate what’s already known on the internet.Deep Research…
Following the collapse of geopolitical risk premium in oil prices, oil is back to trading on supply, demand, and OPEC+ expectations.The Israel-Iran ceasefire and the lack of subsequent retaliatory attacks has drained oil markets of the elevated geopolitical risk that saw Brent near $80 per barrel last week, only to post a $9 per barrel week-on-week drop and trade around $68 per barrel on Friday. Now that the Middle East is relatively calm, there are two main price-defining events ahead – OPEC+ with its July 06 meeting and Donald Trump with his July 09 tariff war deadline.Shell Denies BP Takeover…
BP chief executive Murray Auchincloss laughed off the question when asked this year if everything at the struggling oil company was up for sale. “I don’t know,” he responded. “Nobody ever comes up with the right price.”His efforts to restore the fortunes of the 116 year-old group and preserve its independence received a boost this week when its UK rival Shell declared it had “no intention” of pursuing a deal that would have created a supermajor to rival ExxonMobil. Yet while Shell is now barred from making a new offer before Christmas, unless BP initiates talks or another suitor emerges,…
Shell PLC and Equinor ASA have named their United Kingdom North Sea joint venture Adura, which they announced December as the biggest independent producer on the UK’s side of the sea. “Work continues towards securing regulatory approvals, with launch of the IJV [incorporated JV] expected by the end of this year”, Norway’s majority state-owned Equinor said in an online statement. Adura, which will be equally owned, combines the two companies’ offshore assets in the UK, where Shell currently produces over 100,000 barrels of oil equivalent a day (boed) and Equinor about 38,000 boed. “Adura is expected to produce over 140,000 barrels…