April 28, 2025 Edition
At Valor, our goal is to keep you informed of the latest news and updates from the oil and gas industry. We are committed to sharing the insights and knowledge that our team gathers to help you stay ahead in this dynamic sector. From mergers and acquisitions to regulatory changes and technological advancements, we cover all the key developments that impact the industry. Stay tuned for weekly updates to keep you well-informed.
- Crude oil prices drop on demand fears
- Summary: Crude oil prices fell over $1 per barrel on Monday, with Brent down 1.63% to $65.78 and WTI down 1.82% to $61.87, amid U.S.-China trade war demand fears. Brent crude posted a weekly decline of over 1% despite slight gains earlier. OPEC+ may propose accelerating output hikes on May 5 as bearish sentiment grows.
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- Big oil and mining giants join the white hydrogen rush
- Summary: Major companies like Rio Tinto, Fortescue, Gazprom, and BP Ventures are investing in natural hydrogen, with Fortescue funding $21.9 million for expanded exploration. Analysts expect 2025 to be pivotal, though progress remains slow. Critics warn extraction may take decades and be economically challenging.
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- Trump fast-tracks oil and mining projects
- Summary: The Trump administration will fast-track oil, gas, and mining permits on public lands, cutting review times from up to two years to just 28 days under emergency powers. The U.S., producing 20 million barrels of oil daily, aims to expand energy projects but faces backlash and lawsuits from environmental groups. Workforce cuts at the Department of the Interior, which employs about 70,000, could hamper oversight.
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- ConocoPhillips plans layoffs after Marathon Oil acquisition
- Summary: ConocoPhillips plans workforce reductions following its $23 billion acquisition of Marathon Oil, aiming to cut costs and streamline operations through its ‘Competitive Edge’ project. The company, which employed about 11,800 people by end-2024, will reveal specific layoff details in Q4. ConocoPhillips is also considering asset sales in Oklahoma to optimize its portfolio.
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- Amazon and Nvidia weigh fossil fuels for AI power
- Summary: Amazon and Nvidia executives stated that all energy options, including fossil fuels like natural gas, are under consideration to meet the growing energy demands of AI. While Amazon focuses on renewable energy, it acknowledges the need for thermal generation in the short term. Nvidia also emphasizes the need for power, though both companies express unease about using coal.
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- US rig count up slightly amid oil market turbulence
- Summary: The U.S. rig count increased by three in the week ending April 25, marking a small victory for the Trump administration’s “Drill, Baby, Drill” agenda. Despite this, industry experts warn that oil prices under $60 per barrel and rising steel tariffs may harm profitability. U.S. oil producers face pressure, with production costs rising by up to 14%, and global oil demand growth projections have been revised down to just 730,000 barrels per day.
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- Canadian drillers pivot to gas as trade war impacts oil prices
- Summary: Amid ongoing trade tensions, Canadian drillers have shifted focus from oil to natural gas, with drilling licenses for gas wells up 26% in Q1 2025, while oil well licenses dropped by 24%. The move is driven by stable returns from natural gas amid volatile oil prices, trade disputes, and OPEC+ production increases. This shift is expected to continue through 2025-2026, as natural gas presents more favorable investment conditions.
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