In 2004, the idea of personal carbon footprints was popularized by British Petroleum's rebranding effort beyond petroleum in a move widely acknowledged as an an attempt to shift blame and attention for the climate crisis away from oil and gas companies. Presumably, the theory was that if people spent more time worrying about leaving the AC running too long, they'd be distracted from effectively regulating and penalizing BP's massive contribution to the rising global thermostat. But even as at like a larger ...

Core Insights - Equinor ASA, in partnership with Vår Energi and Petoro, has committed approximately $395 million (NOK 4 billion) for a new subsea project linked to the Johan Castberg field, expected to yield around 46 million barrels of recoverable oil [1][9] Investment and Development - The new subsea project is set to commence production in Q4 2028, following the Johan Castberg field's production start in March 2025, which currently outputs nearly 220,000 barrels per day [2][9] - Equinor plans to leverage standardized solutions from the Johan Castberg field to expedite the development of the new subsea project, as the new reservoir shares similar properties with previously developed discoveries [3][9] Strategic Positioning - The Johan Castberg field is positioned as a future production hub in the Barents Sea, with the Isflak discovery in 2021 marking the beginning of a series of developments aimed at resource extraction in the region [4] - The development plan for the Isflak discovery includes drilling two new wells that will connect to existing subsea production facilities, enhancing the overall infrastructure within the Johan Castberg license [4] Regulatory and Environmental Considerations - Equinor has submitted an application to Norway's Ministry of Energy to confirm compliance with impact assessment obligations for the new developments and seeks an exemption from outlining a development and operation plan [5] Exploration and Future Potential - A recent discovery, Drivis Tubåen, made in 2025, enhances the potential for further development within the Johan Castberg license, with partners aiming to expedite its production [6] - The current recoverable volumes in the Johan Castberg license are estimated between 450 million and 650 million barrels, with significant upside potential of an additional 250 million to 550 million barrels from new finds in the region [7] Ownership Structure - Equinor operates the Johan Castberg field with a 46.3% interest, while Vår Energi holds 30% and Petoro has 23.7% [8]

Occidental Petroleum Corporation (NYSE:OXY) is included among the 13 Best Blue Chip Stocks to Buy Under $50. BofA Trims Occidental Petroleum (OXY) Target to $44 On December 11, BofA analyst Jean Ann Salisbury trimmed her price target on Occidental Petroleum Corporation (NYSE:OXY) to $44 from $45. The analyst kept a Neutral rating on OXY. Back in October, Berkshire Hathaway and Occidental Petroleum Corporation (NYSE:OXY) announced a deal in which Berkshire will buy Occidental’s chemical division, OxyChem ...

Core Viewpoint - Pantheon Resources plc has opted to settle its final quarterly principal and interest payments for its senior unsecured convertible bonds through the issuance of new shares, indicating a strategic move to manage its debt obligations while potentially diluting existing shareholders [1] Group 1: Financial Details - The company will make a final quarterly principal repayment of US$2.45 million and a quarterly interest payment of US$24,500 [1] - A total of 10,520,833 new ordinary shares will be issued to fully settle this quarterly repayment [1] Group 2: Bond Information - The convertible bonds were issued in December 2021 and are due in December 2025 [1] - The bonds were issued to a fund advised by Heights Capital Ireland LLC [1]

Chaay_Tee / iStock via Getty Images Quick Read Stocks were hit hard on Friday as the rotation out of the Artificial Intelligence trade continued. Many on Wall Street remain leery of the huge debt being piled up by technology companies. Oracle’s missing expectations are being viewed as the potential tipping point for the AI/Data Center trade. A recent study identified one single habit that doubled Americans’ retirement savings and moved retirement from dream, to reality. Read more here. Pre-Mar ...

Core Viewpoint - Angkor Resources Corp has entered into a binding Letter of Intent to sell its 40% interest in the Evesham Macklin oil and gas lands for $4,800,000, with the transaction expected to close on January 31, 2026 [1][4]. Transaction Details - The assets were acquired through EnerCam Exploration Ltd. on December 12, 2023, with a loan of $3,800,000 provided by the Purchaser to fund the acquisition [2]. - The payment terms include a $250,000 non-refundable deposit due on December 31, 2025, a payment of $375,000 on the Closing Date, the balance of the loan applied to the purchase price, and a final payment of $375,000 due on March 1, 2026 [4]. Strategic Rationale - The decision to sell the assets is based on a comprehensive analysis aimed at maximizing shareholder value over the next 24 months, focusing on oil and gas discoveries in Cambodia and advancing gold and copper projects [3]. - The net proceeds from the sale will be allocated to oil and mineral projects in Cambodia and other administrative operations, avoiding stock dilution and commissions [6]. Operational Updates - The company is completing the interpretation of seismic data over four subbasins in Cambodia, identifying 3-5 drill targets, which could significantly enhance the company's value [7]. - Angkor Resources is also advancing its mineral exploration activities in Cambodia, holding two licenses for copper and gold exploration [8]. Company Overview - Angkor Resources Corp is a public company listed on the TSX-Venture Exchange, focusing on resource optimization in Cambodia and Canada [8]. - The company's Cambodian energy subsidiary, EnerCam Resources, holds an onshore oil and gas license covering over 4,095 square kilometers [9].

Core Insights - The seizure of a Venezuelan tanker by the U.S. and subsequent sanctions are expected to have limited immediate effects on the Chinese oil market due to existing oil volumes and weak demand [1][2] - Venezuelan oil exports to China are projected to increase in December and January, driven by prior exports and significant discounts on crude [3][5] - The impact of the tanker seizure and potential further sanctions may not be fully realized until February [4] Group 1: Venezuelan Oil Exports - Venezuelan oil exports have sharply declined following U.S. actions, with the country supplying only about 4% of China's total crude imports [2] - December arrivals of Merey crude, Venezuela's primary export grade, are expected to exceed 600,000 barrels per day, potentially setting a record [5] - A significant portion of the Merey crude discharged in November is still seeking end-buyers, indicating a supply surplus [7] Group 2: Market Dynamics - The influx of Venezuelan oil coincides with increased deliveries from other sanctioned producers like Russia and Iran, contributing to rising floating oil storage in Asia [6] - Asian floating oil storage reached 71 million barrels, up from 53 million barrels at the end of October, indicating a growing supply glut [6] - Traders are currently less concerned about market pressures due to the ample supply from Venezuela, Russia, and Iran [7]

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Calgary, Alberta--(Newsfile Corp. - December 15, 2025) - Baytex Energy Corp. (TSX: BTE) (NYSE: BTE) ("Baytex" or the "Company") today announced that it expects to close the previously announced sale of its U.S. Eagle Ford assets (the "Eagle Ford Asset Sale") on December 19, 2025.Baytex also announced the early results of the previously announced tender offer (the "Tender Offer") to purchase for cash, upon the terms and conditions set forth in the Offer to Purchase dated December 1, 2025 (as it may be amend ...

Key crude prices in the Middle East have dropped to their weakest level against the Brent benchmark in two months, signaling oversupplied markets as output from both the Middle East and the Americas rises amid tepid demand. The premium of Abu Dhabi’s flagship Murban grade over Brent, the international benchmark, has narrowed in recent weeks and is now at its lowest level since early October, according to estimates by Bloomberg. In Dubai, the discount of the benchmark against Brent had grown to its wides ...