Mexico’s Pemex reported both lower oil and gas production and a 91% drop in net income in first-quarter 2024, but the company also reduced its total debt to $101.5 billion, executives said during an earnings webcast with analysts.
The completion of its acquisition of NuStar Energy allows Sunoco to realize at least $150 million of expense and commercial synergies and at least $50 million per year of additional cash flow from refinancing activity.
The union, representing more than 9,000 employees at Canadian National Railway and Canadian Pacific Kansas City, announced that 95% of its members approved of a strike, which could happen as early as May 22.
Spain’s Repsol plans to double its oil production in Venezuela and continue with its diluent swap agreements with the OPEC country as approved by the U.S. government.
A crop of Mexican LNG facilities in development will connect U.S. producers to high-demand markets while avoiding the Panama Canal.
Equinor CFO Torgrim Reitan says the company’s recent U.S. asset swap with EQT Corp. was an example of the European company “high-grading” its international E&P portfolio.
Initiative Equity Partners is taking steps to accelerate deployment of renewable energy globally, including in North America.
A service disruption caused by a strike in May could delay freight deliveries of petrochemicals.
Chevron Corp.’s planned $53 billion acquisition of Hess Corp. could potentially close in 2025, but in the meantime, the California-based energy giant is in a “read only” mode as an Exxon Mobil-led consortium boosts Guyana production.
Claudia Sheinbaum, vying to becoming Mexico’s next president this summer, says she isn’t in favor of an absolute privatization of the energy sector but she isn’t against private investments either.