Newsroom
China’s Zijin Gold To Acquire Canada’s Allied Gold For $4B
China’s leading gold miner Zijin Gold will acquire Canada’s Allied Gold (TSO:AAUC) for $4 billion in an all-cash deal, sealing a recent trade policy rapprochement between Beijing and Ottawa.
Peter Marrone, Chairman and Chief Executive Officer of Allied Gold, stated: &ld...
ExxonMobil To Exit Eagle Ford Shale With $1B Sales
US oil major ExxonMobil (NYSE:XOM) is seeking buyers for some South Texas, Eagle Ford assets operated by its subsidiary XTO, seeking to divest some 168,000 net acres valued at over $1 billion.
The assets being sold by XTO include over a thousand wells, some of which Exxon operates,...
ADNOC To Buy 7.6% Stake In GIP’s Rio Grande LNG Project
The Abu Dhabi National Oil Company (ADNOC) agreed to buy an additional 7.6% stake from BlackRock’s GIP investment vehicle in two LNG trains at the Rio Grande LNG project in Texas, taking its total ownership to 19.3%.
XRG P.J.S.C. (XRG) today announced that it will increase i...
Kazakhstan Restarts Production From Its Largest Oilfield
The Kazakh Energy Ministry announced that the country’s largest oil field Tengiz, has resumed production, after project operator Chevron (NYSE:CVX) was forced to halt pumping completely due to disruptions from drone strikes and a generator fire.
The operator of the field, Ch...
Eni To Farmout 10% Interest of Baleine Offshore Project To Socar
Italy’s oil major ENI (BIT:ENI) has farmed out 10% of its interest in the 65,000 b/d Baleine offshore project in Ivory Coast to Azerbaijan’s state oil firm Socar for an undisclosed fee, with its previous 30% divestment to Vitol assessed at $1.65 billion.
Eni signed ...
Activist Investor, Elliot, Increases Stake In bp To 5%
Activist investor, Elliot Investment Management has increased its stake in energy giant, bp, to 5%, making it one of bp’s largest current shareholders alongside other institutional investors like Vanguard. The investor is seeking for a transformational change within bp, including cutting spend...
BW Energy Announces 56 Million Barrels Oil Discovery Offshore Gabon
BW Energy has announced a large oil discovery offshore Gabon, with oil-in-place volumes estimated to be 56 million barrels. Reserves work out to be 25 million barrels, an almost 44 percent oil recovery factor.
The discovery came from the DBM-1 ST2 well in the Bourdon field offshore Gabon. The we...
India Increasingly Turns To Africa To Secure Its Energy Needs
Over the last couple of years, India’s oil imports from Russia have been on the decline, due in part to sanctions and other factors. Accordingly, India is increasingly looking elsewhere, particularly Africa, to increase its oil imports and diversify its energy sources. According to Reuters, In...
Tesla directors to repay up to $919 back to Tesla
Chancellor Kathaleen McCormick, a judge in Delaware has approved a case against certain Tesla board of directors who allegedly overpaid themselves. The judge ruled that Tesla directors including Robyn Denholm, Larry Ellison, Kimbal Musk and James Murdock must return almost $919 million back to the c...
Nvidia AI Chips Are Surpassing Moore's Law
According to Moore’s law, the number of transistors on a chip doubles about every 18 months. Well, Nvidia CEO, Jensen Huang said his company’s AI chips are progressing faster than this rate. The idea behind Moore’s law, which was first invented by Intel founder, Gordon Moore, was t...
Meta To Stop Content Moderation & Censorships
In a surprising U-turn from its previous policies, Meta, the Facebook parent company said it will stop fact-checking and moderating contents on its platforms. Joel Kaplan, Meta’s chief global affairs officer said in a blog post that the company will do away with its fact-checking program and i...
Meta to End DEI programs
Effective immediately, Meta is reportedly ending its diversity, equity, and inclusion (DEI) program. Such programs usually focus on hiring, sourcing, and working with individuals from diverse communities including Latinos and Blacks. The company said the legal and policy landscape around DEI is chan...
OpenAI Buys Domain Name Chat.com
Artificial Intelligence giant, OpenAI, has reportedly purchased the domain name, chat.com. The domain name was initially registered way back in 1996. In 2023, it was purchased by Dharmesh Shah, co-founder of Hubspot for $15.5 million.
He announced on a post on X that he has sold the domain name ...
TikTok Offices Ordered To Shut Down In Canada
The Canadian government has ordered TikTok, the popular social media platform, to shutdown all its offices in the country, citing concerns around national security. The ban does not affect the app itself, just its physical offices in the country. Users in the country can still access the app online,...
How Elon Musk & His Companies Will Be Impacted By Trump's Election Victory
Over the last few months, Elon Musk fully threw his weight and full support behind Donald Trump, campaigning alongside him in several rallies. He also appeared on many podcasts to speak in favor of Trump, and utilized X widely to spread goodwill for the former president. Additionally, he spent more ...