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Business
Exxon Mobil, Macquarie in $11.7 Million Lawsuit over Gas Contract
The lawsuit filed by Exxon Mobil’s natural gas business said last month’s massive winter storm and declarations of emergencies in Texas prevented it from fulfilling its supply commitment to Macquarie, the second largest U.S. gas marketer.
Investment
Energy Firms Bet on Hydrogen Boom, But Payday Far Away
The universe’s most abundant element, hydrogen has been touted for decades as an alternative energy source to fossil fuels, but attempts to commercialize it for use in vehicles and industry have largely failed.
Public Capital
Oil and Gas Investor: The Great SPAC Comeback
SPACs have taken Wall Street by storm, raising billions for as-yet unidentified acquisition targets—but will they return to save the oil and gas space?
Business
Exxon Mobil Pitches Investors on Dividend Growth, Debt Reduction
Investor pressure has mounted for Exxon to cut costs, improve financial returns and better prepare for the energy transition to lower-carbon fuels.
Business
Exxon Mobil to Cut Singapore Workforce amid ‘Unprecedented Market Conditions’
Exxon Mobil’s announcement also follows European major Shell’s decision in November to cut 500 staff and halve its crude processing capacity in Singapore
Business
CERAWeek: OPEC Oil Has Advantage over US Shale during Pandemic Recovery
At CERAWeek, OPEC vs. U.S. shale is often discussed as a showdown between competing interests, but the dynamic of Texas vs. the Middle East is nearly invisible this year.
Private Equity
A&D Advisory Firm EnergyNet Promotes Russell Artho to CFO
Russell Artho joined the EnergyNet team in 2018 as controller and his promotion to CFO is reflective of his “dedicated leadership and thoughtful contributions,” says Chris Atherton, CEO of the A&D advisory firm.
Business
Waterous Energy Fund Completes Takeover of Osum Oil Sands
Waterous’ latest offer was to buy up to 57 million shares of the oil and gas producer at C$3 per share, implying a deal value of C$171 million ($135.62 million).
Public Capital
Former Apollo Partner Greg Beard Preps $200 Million Energy SPAC: Sources
Greg Beard, who previously headed Apollo’s global natural resources group for nearly a decade, will file for an IPO for a SPAC in the coming weeks, one of the sources said.
Business
API Reportedly Weighing Support of Carbon Pricing
API, which includes most of the world’s biggest oil companies, is considering endorsing carbon pricing “among other policy solutions to reduce emissions and reach the ambitions of the Paris Agreement,” a source says.