Oil and Gas News

• MARKET REPORT: Lukewarm response to windfall tax change
  
  The Treasury said it will reduce the tax rate on profits from 75 per cent to its previous level of 40 per cent if oil and gas prices normalise for at least six months.
  Daily Mail.  Friday, 9 Jun 2023.
• Oil and gas windfall tax to be shelved if energy prices fall significantly
  
  HM Treasury said the measure was needed to encourage investment in the North Sea, protect jobs and improve the UK's domestic energy supply amidst Russia's full-scale invasion of Ukraine.
  Daily Mail.  Friday, 9 Jun 2023.
• Here's Why Hold Strategy is Apt for Cactus (WHD) Stock Now
  
  Cactus (WHD) boasts a solid margin profile. However, WHD has considerable exposure to heightened volatility in oil and gas prices.
  Zacks.  Friday, 9 Jun 2023.
• Government wobble on windfall tax may be of political benefit but risks a renewable backlash
  
  The government has wobbled on the oil and gas windfall tax, reflecting a growing government concern about the effect of the 75% marginal rate on a sector that supports over 200,000 jobs.
  Sky News.  Friday, 9 Jun 2023.
• Windfall tax to be scrapped if prices drop
  
  The government will end the windfall tax on bumper oil and gas profits in 2028, if prices drop.
  Sky News.  Friday, 9 Jun 2023.
• Oil Prices May Have Found a Floor: 3 Top-Ranked Oil and Gas Stocks for the Next Rally
  
  Significant underinvestment into oil and gas infrastructure over the last ten years has created a structural shortage in new supply
  Zacks.  Tuesday, 6 Jun 2023.
• Starmer vows to stop oil and gas communities withering
  
  The Labour leader addressed the GMB after union leaders criticised his green energy plans.
  BBC News.  Tuesday, 6 Jun 2023.
• 3 Energy Stocks to Add to Your Watchlist
  
  The energy sector is expected to remain robust amid solid demand and the emergence of new oil and gas ventures. Hence, I think fundamentally strong Energy Transfer (ET), Valero ...
  Entrepreneur.  Tuesday, 6 Jun 2023.
• Biden Administration Bans Oil and Gas Drilling Around Chaco Canyon
  
  The Interior Department will withdraw public lands around Chaco Canyon from new oil and gas leasing for 20 years.
  New York Times.  Friday, 2 Jun 2023.
• Marathon Oil Corporation (MRO) or Shell PLC ADR (SHEL): Which Stock Is a Buy?
  
  Despite lingering macroeconomic headwinds, the energy sector is well-placed for significant growth this year. Sustained energy demand worldwide and constrained supplies are expected to boost oil and gas prices. ...
  Entrepreneur.  Tuesday, 30 May 2023.
• The intensity of methane emissions from oil and gas sector has declined, study finds
  
  The intensity of methane and greenhouse gas emissions from the oil and gas sector declined 28% and 30%, respectively, between 2019 and 2021, a study found.
  CNBC.  Tuesday, 23 May 2023.
• Norway faces backlash from campaigners for 'reckless' pursuit of Arctic oil and gas
  
  The Norwegian government says it is seeking to maintain Europe's energy security by exploring the Barents Sea for further resources.
  CNBC.  Monday, 22 May 2023.
• 14,000 Inactive Oil and Gas Wells Are Unplugged in the Gulf of Mexico
  
  Capping these potential sources of methane could cost $30 billion. But targeting wells in shallow waters would have the highest impact, a new study finds
  Smithsonian.  Monday, 15 May 2023.
• Enverus: 2023 A Slow Year For Big Oil Deals, But That Could Change
  
  The first quarter of 2023 presented relatively slim pickings where merger and acquisitions (M&A) in the oil and gas upstream segment were concerned, per a new report from Enverus Intelligence Research (EIR), a subsidiary of Enverus.
  Forbes.  Thursday, 11 May 2023.
• Shell reports stronger than expected profits
  
  The oil and gas giant makes $9.6bn between January and March despite a dip in energy prices.
  BBC News.  Thursday, 4 May 2023.

Oil and Gas Companies News Headlines and News Summaries