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CONSOL Energy Inc. to acquire remaining public stake in CONSOL Coal Resources LP

CONSOL Energy Inc. (CEIX) and CONSOL Coal Resources LP (CCR) has recently announced that they have entered into a definitive merger agreement pursuant to which CEIX will acquire all of the publicly held CCR common units in an all-stock transaction valued at approximately US$34.4 million, based on the most recent closing price of shares of CEIX common stock. Under the merger agreement, CEIX will acquire all of the approximately 10.9…

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Average Diesel Price Declines for Sixth Time in Seven Weeks

The national average price of diesel decreased seven-tenths of a cent, according to the Energy Information Administration’s weekly data released Oct. 19. The fall is the sixth drop in the past seven weeks. Trucking’s main fuel now costs $2.388 a gallon, 66.2 cents less than a year ago. Gasoline, meanwhile, dropped 1.7 cents to an even $2.15 a gallon, and is 48.8 cents cheaper than a year ago. Diesel decreased…

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Norway oil firms, union agree to mediation in bid to end strike

OSLO (Reuters) - Norway oil firms and labour officials said they will meet with a state-appointed mediator on Friday in an attempt both sides hope will bring an end to a strike that threatens to cut Norway’s oil and gas output by some 25%. Although informal talks have been taking place, the state mediator has not met with the two sides since the strike over pay and conditions was announced…

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Reduced demand for US LNG likely to continue

Global economic slowdown has led to reduced demand for LNG produced in the US. As a result, LNG exports from the country are likely to remain low in the near future, says GlobalData, a leading data and analytics company. Haseeb Ahmed, Oil and Gas Analyst at GlobalData, comments: “Significantly low prices of gas along with an LNG supply glut has pushed companies to revisit their CAPEX spends on upcoming multi-billion-dollar…

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European energy

The Central and South-Eastern European energy connectivity high-level group reinforces regional cooperation

The European Commissioner responsible for Energy, Ms Kadri Simson and the Croatian Minister of Economy and Sustainable Development, Mr. Tomislav Ćorić hosted today the 7th Central and South-Eastern European energy connectivity (CESEC) Ministerial videoconference. Building on the conclusions agreed at senior officials’ level on 25 March 2020, the CESEC meeting participants reaffirmed their willingness to reinforce regional cooperation, coordination and solidarity needed to address the energy challenges faced in this region. The…

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Egypt Boasts Record Crude Oil Production

Egypt has recently announced its crude oil production has exceeded 650,000 barrels per day (bpd) for the first time since the late 1950s, Al-Monitor reports, quoting Egypt’s Minister of Petroleum and Mineral Resources Tarek el-Molla. Egypt’s General Petroleum Company will aim to boost the development of new oil wells and infrastructure, Tarek el-Molla said at the general meeting of the company which he presided earlier this month. Most of Egypt’s crude…

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