US upstream news

US crude oil inventories fell by more than expected in late September, dropping by 4.34 million bbl, reported the American Petroleum Institute (API).

Reuters has reported that the US Federal Trade Commission is expected to greenlight US oil producer Chevron's purchase of Hess as soon as this week, two people familiar with the matter said, leaving Exxon Mobil's challenge to the US$53 billion deal as its final hurdle.

Reuters has reported that Tropical Storm Helene was expected to turn eastward on its track through the Caribbean and into the Gulf of Mexico, increasing the threat of high winds and heavy rains to Cuba and Florida but lessened the risk to US offshore oil production, forecasters said.

Caterpillar Oil & Gas has announced that North American pressure pumping operators using its Tier 4 DGB system reduced diesel consumption by approximately 100 million gallons in 2023.

The US Energy Information Administration reports that cash from operations in 1Q24 has decreased due to lower natural gas prices.

Empire Petroleum Corporation has fixed the close of business on 30 September 2024 as the record date for a proposed subscription rights offering.

The US will continue to supply natural gas to North-West Europe as the region continues its decarbonisation efforts.

Woodside Energy will contribute US$50 000 to the Bayou Community Foundation in support of relief efforts following Hurricane Francine.

US gas company Chesapeake Energy's acquisition of Southwestern Energy is now expected to close early in 4Q24, Reuters cited the company’s CEO Nick Dell'Osso as saying.

The storm developed into a full-blown hurricane at the end of last week, with Francine being the sixth named weather event this year.