Big oil moves: QatarEnergy snaps up 20% stake in Suriname’s Block 5 – What this means for the future

Big oil moves: QatarEnergy snaps up 20% stake in Suriname’s Block 5 – What this means for the future

QatarEnergy has reached a significant agreement to acquire a 20% working interest in the offshore Block 5 production sharing contract in Suriname. This move marks a notable expansion for QatarEnergy into the South American oil market, highlighting its ongoing commitment to exploring new and promising oil basins. Under the terms of the agreement, Chevron Corporation, […]

Phillips 66 to acquire Pinnacle Midstream for $550m to expand Midland Basin operations

Phillips 66 to acquire Pinnacle Midstream for $550m to expand Midland Basin operations

Phillips 66 (NYSE: PSX) has reached a definitive agreement to acquire Pinnacle Midland Parent LLC from Energy Spectrum Capital for $550 million in cash. This acquisition is a strategic move to enhance Phillips 66’s footprint in natural gas gathering and processing in the Midland Basin, significantly strengthening its position in the energy sector. Details of […]