ExxonMobil-Pioneer Deal, Shell Earnings, Canadian Natural Resources: Your Daily Energy News

News highlights gathered by Industrial Info and IIR Energy (Sugar Land, Texas) dealing with the energy markets.

CORPORATE
U.S. Regulators Greenlight ExxonMobil-Pioneer Deal - U.S. regulators on Thursday gave the go-ahead to Exxon Mobil Corporation's (NYSE:XOM) (Spring, Texas) $60 billion purchase of Pioneer Natural Resources (NYSE:PXD) (Irving, Texas), but barred Pioneer's former chief executive officer (CEO) from ExxonMobil's board on allegations he attempted to collude with the Organization of Petroleum Exporting Countries and its allies (OPEC+) to raise oil prices. Former Pioneer CEO Scott Sheffield coordinated efforts with U.S. shale oil producers to constrain their output production and raise energy prices, the Federal Trade Commission (FTC) alleged. Sheffield used his influence "to align oil production across the Permian Basin in West Texas and New Mexico with OPEC+," the FTC claimed. (Reuters)

EARNINGS REPORTS
Shell Reports Strong Quarterly Earnings - Shell plc (NYSE:SHEL) (London, England) reported first-quarter profit of US$7.7 billion on Thursday, exceeding expectations as disruption to Red Sea shipping and Russian refining boosted oil trading and liquefied natural gas (LNG) production rose. Shell's cashflow rose by 6% from the previous quarter to $13.3 billion, reflecting strong operational performance, particularly in the LNG division, which together with trading helped offset a decline in natural gas prices that has weighed on the earnings of its rivals. (Reuters)

PRODUCTION
Canadian Natural Resources Considers Expansion of Major Oil Sands Mine - Canadian Natural Resources Limited (NYSE:CNQ) (Calgary, Alberta) is looking at opportunities to significantly increase bitumen output at its main oil sands mine, the company said on Thursday. President Scott Stauth said the company is considering expanding the Horizon mining and upgrading plant in northern Alberta through new extraction and treatment processes. Subscribers to Industrial Info's Global Market Intelligence (GMI) Metals & Minerals Project Database can learn more by viewing by the project report. (Reuters)

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About Industrial Info
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