EU approves INEOS’s acquisition of DONG E&P 🔓

June 23, 2017 0

INEOS’s $1.3 billion acquisition of all DONG Energy’s assets in the North Sea has been cleared by the European competition watchdog in less than a month since the transaction was announced, Kallanish Energy reports.

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U.S. shale output growth to slow in 2018: ESAI 🔓

June 22, 2017 0

U.S. shale oil production is forecast to end 2017 at 5.6 million barrels per day (MMBPD), which is over 1 MMBPD higher than at the end of 2016. But the pace of growth in 2018 will slow down, energy consulting firm ESAI Energy said in a new report on Tuesday.

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Saudi King names son as crown prince

June 22, 2017 0

Saudi Arabian King Salman promoted on Wednesday his 31-year-old son, Mohammed bin Salman, to become crown prince and second in line to the throne, giving him extraordinary powers to push through his vision to wean the economy off oil and exert his influence in regional conflicts.

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Crude oil prices continue to fall 🔓

June 22, 2017 0

Despite OPEC and non-OPEC producers’ efforts to drain the supply glut in global oil markets, crude oil prices have tumbled more than 20% this year, making its worst performance for the first six months of the year since 1997.

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