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Brent Crude oil prices are set to average $76 per barrel next year, down from an expected average of $80 a barrel in 2024, amid an expected surplus on the market, according to Goldman Sachs. “Our base case is that Brent stays in a $70-85 range, with high spare capacity …

Petrobras plans to pay ordinary dividends totaling $45 billion-$55 billion by 2029, with room for additional extraordinary distributions to shareholders in the period, the Brazilian state oil and gas giant said in the presentation of its five-year business plan. “Robust free cash flow allows for solid dividend estimates, projecting US$ …

BP has struck a deal to develop a natural gas field in Indonesia, complete with a carbon capture system. The deal’s value is seen at $7 billion, with resources to be tapped estimated at 3 trillion cubic feet. “This project not only unlocks a fantastic gas resource, it also represents …

Alterra, the world’s largest private climate investment fund of $30 billion launched by the United Arab Emirates (UAE) last year, sees a lack of investment opportunities in the energy transition and has only spent a small part of its money, the fund’s chief executive Majid Al Suwaidi told Bloomberg. There …

Russian natural gas flows to Europe via Ukraine have remained stable this week despite the fact that Gazprom cut off supply to Austria’s OMV over the weekend. Gazprom is sending 42.4 million cubic meters of gas to Europe via Ukraine on Thursday, Reuters quoted the Russian gas giant as saying. …

As Europe’s benchmark natural gas prices have hit a one-year high, their premium over with the U.S. benchmark gas price has widened well above 2024 averages, signaling that U.S. LNG exporters will likely further boost deliveries to Europe to take advantage of the widening spread. Currently, the price of the …

Saudi Aramco plans to regularly tap the bond market for debt issuance as it looks to optimize capital structure and widen its investor base, Ziad Al-Murshed, chief financial officer of the world’s biggest oil firm, told Bloomberg in an interview. “You’ll see us do a couple of things. One is, …

Exxon, Hess, and CNOOC plan to add a fourth production vessel to the ones already operating in the Stabroek Block offshore Guyana, Hess Corp.’s CEO has said, as quoted by Reuters. The floating production, storage, and offloading vessel should reach its destination in the first quarter of next year, John …

President-elect Donald Trump intends to revive the construction of the Keystone XL pipeline on his first day in office—just like President Biden shut it down on his first day in office. A Politico report citing unnamed sources with knowledge of the situation said that the president-elect’s transition team was discussing …

The giant offshore Johan Sverdrup oilfield, Western Europe’s biggest producing field, has resumed normal operations at full capacity following a power outage on Monday, a spokesperson for the operator, Equinor, told Reuters on Wednesday. “The entire production facility at Johan Sverdrup resumed operations yesterday and is now producing steadily at …