United States: birth of a new oil and gas giant
In the United States, it is one of the largest operations in the energy sector. Diamondback announced this Monday, February 12, an agreement to absorb its compatriot Endeavor, with the aim of forming a major player in gas and oil.
An oil well near Sweetwater, Texas, December 22, 2014. AP - LM Otero
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Diamondback and Endeavor are expected to be worth $50 billion. Between them, the companies will above all rise to the rank of third producer of shale oil and gas in the Permian basin, this immense region which covers west Texas and part of New Mexico concentrated today near the half of
American
oil
production .
New stage
But this union also marks a new stage in the consolidation of the sector in the United States. The giants, attracted by the opportunities for synergy and therefore savings, are making a series of acquisitions. In recent months, Exxon Mobil bought one of the shale gas specialists Pionneer Natural Resources, while Chevron acquired its compatriot Hess Corporation.
Capacity jumps in the United States
The goal is to extract more and more
oil
. Production capacity in the United States has surged in recent years. They reached a record in November: with more than 13 million barrels of product per day. Enough to consolidate the position of the United States, the world's leading oil producer, far ahead of Saudi Arabia.
Also read: Oil: record production in the United States
The International Energy Agency celebrates its 50th anniversary against the backdrop of energy transition
The day after the announcement of this acquisition, the International Energy Agency (IEA) is celebrating its 50th anniversary today. It is an authority created in 1974 to ensure oil supplies to OECD countries. More than thirty ministers and several personalities, including John Kerry and Ursula Van der Layen, the president of the commission, are expected for two days, until February 14, at the organization's headquarters in Paris. Bosses of large energy groups and members of civil society will also attend the discussions. But the IEA has evolved with the times and its director is convinced: the world can do without new hydrocarbon extraction projects.
How can we continue to produce, move around, heat ourselves, feed ourselves, without warming the climate? Participants will consider how to finance the major investments needed at this critical turning point for the future of life on the planet without sparking further inequalities and conflicts, according to Eamon Ryan, Irish Minister for Environment and Climate who will chair the meeting. meeting alongside the French Minister of Economy and Energy Bruno Le Maire.
“
This is the peace project of the present times, and we must ensure that all parts of the globe feel supported, not just the rich
,” the French Economy Minister said in a statement released before the opening of debates. “
If the world wants to develop alternative energies to fossil fuels
” which would no longer emit CO2 warming the atmosphere as coal, oil and natural gas currently do, global investments (public and private) will have to reach 4,500 billion dollars per year by 2030, he recalled. Of this total, the IEA estimates “
that at least 2.2 trillion should be invested each year in emerging and developing countries
,” he added.
(With
AFP)
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