Elliott Urges for Board Revamp at Phillips 66
Elliott Investment Management, a prominent US activist investment firm, has recently acquired a $1 billion stake in Phillips 66, a leading US oil refiner and pipeline operator.
News / International
Falcon Oil & Gas Commences Stimulation Activities in Beetaloo Sub-Basin
Falcon Oil & Gas has announced the start of stimulation activities at the Shenandoah South 1H (SS1H) well in Exploration Permit 117 in the Beetaloo Sub-Basin, Northern Territory, Australia, with Falcon Oil & Gas Australia Limited’s joint venture partner, Tamboran B2 Pty Limited.
Iraq Records Increase in Oil Exports
Iraq has recorded an increase in crude oil exports, reaching 109,545,589 million barrels which generated $9.6 billion of revenues, according to a statement from Iraq’s Oil Ministry.
Oman Begins Construction of it First Green-Hydrogen-Ready Steel Plant
Oman has commenced the construction of Vulcan Green Steel (VGS) plant, the county’s first green-hydrogen-ready steel project, in the Duqm Special Economic Zone, powered entirely by green and renewable energy.
Canadian Oil Sands Producers to Make FID on CCS Project
Canadian oil sands producers have stated that they will make a final investment decision (FID) on carbon capture and storage project in Mid-2025, said the president of the Pathways Alliance on Monday.
bp Enters Japan’s Power Market
bp has announced its entry into Japan's power market after receiving approval from the industry ministry to operate as a retail electricity provider.
Brazil’s Eneva Proposes Merger with Vibra Energia
Brazilian energy company Eneva has proposed a non-binding merger with local fuel distributor Vibra Energia, according to a securities filing.
China Raises Fuel Oil Imports by 3M Tons
China has recently announced an increase in fuel oil import quotas by 3 million metric tons for non-state firms in 2023, according to a notice released by the country's Ministry of Commerce.
India to Increase LNG Import Capacity
Indian Oil Corp. (IOC), the country's top refiner, plans to double the capacity of its liquefied natural gas (LNG) import terminal at Ennore in southern India.
Brazil’s Petrobras to Invest $102B for Company Revitalization
Brazil's state-run oil company Petrobras has revealed its strategic plan for the years 2024–2028, with a strong emphasis on revitalizing the company and transitioning towards renewable energy sources.
