Hess shareholders overwhelmingly approved the $53 billion merger with Chevron, clearing a key hurdle but leaving regulatory approval and a potential arbitration battle with Exxon Mobil and CNOOC to be settled. The deal paves the way for Chevron to acquire coveted oil assets in Guyana, offering significant strategic benefits for both companies. However, the merger’s completion hinges on the outcome of the arbitration, casting uncertainty on the timeline and finalization.
Victor Adetimilehin
Victor Adetimilehin
Victor Adetimilehin, widely known as Vic’Adex, is a celebrated global arts in medicine fellow and a staunch ambassador for religious tolerance. Beyond his institutional affiliations, Victor is an incredibly passionate and award-winning spoken word artiste, most notably recognized for his stirring poem, "men not gods." A fervent supporter of pan-Africanism, he actively champions and bolsters Nigerian creative hubs, fostering an environment of artistic growth and cultural exchange. Victor's dedication to the arts and peace advocacy positions him as a vital influencer in bridging cultural gaps.
-
-
The EU approves a new law targeting methane emissions from imported oil and gas, aiming to pressure international suppliers and reduce global climate impact.
-
Saudi Arabia is contemplating a multi-billion dollar share sale of oil giant Aramco as early as June. This potential deal could raise around $10 billion and be a significant step towards the country’s economic diversification goals.
-
Amid escalating shareholder tensions, Republican states advocate for ExxonMobil, underscoring deep divides over corporate environmental policies.
-
Russia admitted to exceeding its oil production quota for April, attributing it to technical challenges. This surprise move casts doubt on Russia’s commitment to coordinated production cuts with OPEC+, a key group of oil-producing nations. The development comes ahead of a crucial OPEC+ meeting in June to determine future production policy.
-
U.S. legislators have requested a DOJ investigation into major oil companies accused of deceiving the public about the climate impacts of fossil fuels.
-
The European Union wrestles with imposing new sanctions on Russia, including a potential first-ever ban on liquefied natural gas (LNG) exports. The bloc seeks to cripple the Russian economy but worries about the impact on its own energy security. Negotiations continue as the EU races to finalize the package before Hungary takes over the presidency.
-
Oil prices are experiencing a downward trend due to weak demand from refineries and a rise in global crude oil supply. This trend is impacting the global oil market and is likely to influence the upcoming OPEC+ meeting.
-
Ukrainians will experience a temporary reprieve from power cuts this Sunday. However, the country’s war-damaged power grid relies heavily on imports, highlighting the need for responsible consumption and international support for long-term energy security.
-
Russia is proposing a new route to deliver oil and gas to China alongside a planned gas pipeline, reviving a 2018 idea for a dual pipeline corridor. This move comes as Russia seeks to replace lost revenue from European gas exports.