Cape of Good Hope oil trade surges amid Red Sea crisis
The Red Sea shipping crisis, caused by Houthi rebel attacks on cargo...
The Red Sea shipping crisis, caused by Houthi rebel attacks on cargo ships and tankers, has pushed the volume of crude oil and oil products passing around the longer Cape of Good Hope Route to 8.7 million barrels per day in the first five months of 2024, up nearly 50% from the 2023 average, according to the Energy Information Administration. US trade via the Cape of Good Hope increased by over 600,000.
Generative AI offers wealth of opportunities for O&G
The oil and natural gas industry, traditionally reliant on conventional...
The oil and natural gas industry, traditionally reliant on conventional AI for tasks like identifying deposits, is now embracing generative AI to increase operational efficiency and safety and reduce costs and emissions. Additionally, generative AI's ability to analyze diverse data sets, make predictions, and provide context can streamline the training of new employees and aid on-the-ground decision-making by filling workers' knowledge gaps, according to experts.
Matador Resources Buys EnCap E&P Ameredev II for $1.9B
Matador Resources is expanding...
Matador Resources is expanding its Delaware Basin footprint with a $1.9 billion acquisition.
The company announced on June 12 that Dallas-based Matador will acquire a subsidiary of Ameredev II Parent LLC and certain oil and gas properties in West Texas and New Mexico.
The deal with Ameredev II, a portfolio company of private equity firm EnCap Investments LP, includes producing assets and undeveloped acreage in Lea County, New Mexico, and Loving and Winkler counties, Texas.
So how many shoppers have taken advantage of this chance to take up to $7,500 off the upfront cost of a new EV — or up to $4,000 off a used EV?
The Treasury Department announced Wednesday that more than 125,000 new EVs and about 25,000 used EVs have been purchased through this initiative so far, and buyers of EVs CARZ have saved more than $1 billion in upfront costs since the start of the year.
Deputy Treasury Secretary Wally Adeyemo told reporters the $1 billion figure represents a “major milestone in the administration’s work to lower transportation costs for Americans.”
Looks like Skydance won’t be buying Paramount. Proving...
Looks like Skydance won’t be buying Paramount. Proving that Paramount Global doesn’t save the drama for its movies, Chair Shari Redstone has reportedly cut off merger talks with Skydance Media after the companies previously agreed to broad terms. Instead, Redstone will likely seek a buyer for Paramount’s controlling shareholder, National Amusements (which she owns), without a separate merger for Paramount, according to the Wall Street Journal. Paramount’s stock fell nearly 8% after the news broke.
Four US college instructors from Iowa Cornell College were stabbed in a park in China. Police have arrested a suspect.
Elon Musk dropped his lawsuit against OpenAI and Sam Altman one day after threatening to ban Apple devices from his companies over its newly announced partnership with OpenAI and one day before a judge was scheduled to consider whether to dismiss the suit.
Justice Samuel Alito was secretly taped by an activist questioning bipartisanship and agreeing with the need to return the US “to a place of godliness.”
GM’s board approved $6 billion in share buybacks as investors worry about the transition toward electric vehicles.
A member of the Four Tops sued a hospital for racial discrimination, claiming doctors deemed him delusional when he said he was part of the famous singing group and ignored his real medical problems.
King Charles’s first official portrait, already drubbed by critics, was vandalized by animal rights protesters.
