ExxonMobil’s purchase of Pioneer Natural Resources is the largest upstream deal, in nominal terms, since Shell acquired BG for $82 billion in 2015 and makes ExxonMobil the world’s first megamajor. That’s according to Wood Mackenzie’s Senior Vice President of Corporate Research, Tom Ellacott, who added, in a statement sent to …

The International Atomic Energy Agency and experts from China, South Korea and Canada on Monday collected seawater samples near the crippled Fukushima nuclear complex in northeastern Japan following the release of treated radioactive water from the site, the Japanese government said. The team is visiting Japan through Oct. 23 to …

During the 2023 World Bank Group and International Monetary Fund Annual Meetings in Marrakech, Morocco, the government of Uzbekistan and the World Bank signed an agreement to allocate $46.25 million for financing the Innovative Carbon Resource Application for Energy Transition Project (iCRAFT). These funds will help implement a project supporting …

Bitcoin miners use an estimated 348 terawatt hours of electricity per year, and with the world increasingly moving to renewables, some are asking the question: just where does Bitcoin get its electricity? To answer that question, Visual Capitalist’s Chris Deckert partnered with HIVE Digital to visualize data from the Cambridge …

Crude oil prices began trading relatively flat on Monday after a hugely volatile week in which both WTI and Brent saw two significant drops before a massive rally on Friday. In morning trade in Asia, Brent crude and West Texas Intermediate were trading at a slight loss of between 0.3% …

Turkmenistan is on the cusp of securing a major new buyer for its natural gas: Iraq. On October 8, the Turkmen Foreign Ministry reported on a four-day visit to Baghdad by the head of the Turkmen state gas company for meetings revolving around this prospect. The plan is for Iraq …

Iran produced 3.058 million barrels per day (bpd) of crude oil in September, registering a 15,000-bpd increase compared to the previous month, according to OPEC’s latest monthly report. Based on secondary sources, Iran produced 3.043 million bpd of crude oil in August. The Islamic Republic’s average crude output for the …

Month-over-month, the Construction MMI (Monthly Metals Index) narrowly missed trading completely flat, ultimately moving sideways with just a 0.2% increase. Meanwhile, steel prices, specifically h-beam steel and steel rebar costs, either dropped or traded sideways, as did bar fuel surcharges. Energy have risen at an astounding rate since 2021 due …

Iran’s oil minister on Thursday said that Tehran-Moscow cooperation paves the way for the progress of not only the two countries but also regional states. Javad Owji, who addressed a specialized session of the 6th Russian Energy Week International Forum in Moscow, added that a historic opportunity has been created …

Iran’s Oil Minister Javad Owji said on Friday the country plans to increase its crude production in the absence of any “green light” from the United States for exports, according to the Shana News Agency affiliated to the Iranian Oil Ministry. Making the remarks in the southwestern province of Fars, …