The U.S. Department of Energy has withdrawn a solicitation to purchase oil for the Strategic Petroleum Reserve citing a lack of certainty around funding.
Small and midsize oil producers are the focus of the initial purchases. Buyers with fewer than 5,000 employees are eligible to submit proposals.
Survival mode has returned to the oil and gas sector, Wood Mackenzie says.
This year’s NAPE Summit buzzed with a “resilient spirit” despite the fog of tough A&D times for upstream oil and gas dealmakers.
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