Exxon and Chevron ride plastics boom to cash-flow bonanzas
Exxon Mobil Corp. and Chevron Corp. swung to their biggest profits since pre-pandemic days amid surging demand and prices for plastics and energy.
Americas
ExxonMobil announces Whiptail oil discovery off Guyana
ExxonMobil has announced a “significant” oil discovery at the Whiptail field off Guyana.
Crashed cargo plane located by ROV off Hawaii
A crashed cargo plane in the Pacific Ocean off Hawaii has been located and surveyed using a remotely-operated vehicle (ROV).
Shell approves major Whale
Shell has taken the final investment decision (FID) on the Whale project, in the US Gulf of Mexico, copying many of the aspects of its Vito project.
Quebec kills LNG plan citing IEA net zero plans
Quebec has officially rejected a proposed LNG export project, citing the International Energy Agency’s (IEA) net zero report from May.
First Nation-backed LNG project eyes net zero
A new floating LNG (FLNG) export plan is taking shape off Canada’s west coast, with an eye on achieving net zero.
TotalEnergies pulls out of Tellurian’s Driftwood LNG
TotalEnergies and Tellurian have parted ways over an ambitious LNG supply and shares agreement.
Exxon’s Jabillo disappoints, Sapote up next
ExxonMobil has drilled a disappointing well offshore Guyana that failed to encounter commercial hydrocarbons.
Emergency crews snuff out Gulf of Mexico pipeline fire near Pemex oil platform
A fire near the Pemex Ku-Maloob-Zaap oil platform complex in the Gulf of Mexico has been controlled following a gas leak.
Exxon CEO apologises for lobbyist’s comments in leaked video
ExxonMobil’s chief executive Darren Woods says the company is “deeply apologetic” over comments caught on camera in a secret filming by Greenpeace that show one of the oil giant’s lobbyists saying a carbon tax the company has promoted for years is unlikely to happen.
Supplying Asia with LNG got much costlier for the US, but strong demand brings export records
Supplying liquefied natural gas (LNG) to the expanding Asian market has become more expensive for US producers this year, a Rystad Energy report reveals. Even so, US exporters are unlikely to repeat last year’s cost-related shut-ins as global demand has rebounded to strong levels. Instead, US LNG exports climbed to a record monthly high of 6.5 million tonnes in May and may keep rising to new peaks, according to the energy consultancy.
BP announces start-up of ‘high-value’ project in Gulf of Mexico
BP has safely started up production from one of its “high-value” projects in the US Gulf of Mexico.
Hess seeks bids for North Malay Basin work
Industry sources report Hess has issued a tender for the provision of turnaround and inspection services at its North Malay Basin project offshore Malaysia.
Exxon prepares to cull US white-collar ranks
ExxonMobil is preparing to reduce headcount at its US offices by between 5% and 10% annually for the next three to five years by using its performance-evaluation system to suss out low performers, according to people familiar with the matter.
Chevron, TotalEnergies tipped for Suriname shallow-water blocks
Suriname has named Chevron, TotalEnergies and Qatar Petroleum (QP) as submitting the best bids for blocks under the 2020-21 bid round.
After blowing $300bn, US shale finally makes money
Marathon Oil Corp. used to represent everything that was wrong with U.S. shale: enormous debtloads, lavish executive pay and a seeming willingness to spend whatever it took to boost output. The company hemorrhaged money, and the stock plunged 84% from a peak in 2014 through the end of last year.
Cognite flags internal comms in carbon fight
If the energy industry is serious about reaching net zero, companies must do a better job of communicating with staff as well as tracking emissions as they occur.
i3 Energy shares jump as firm touts maiden dividend payment next month
Shares in London-listed i3 Energy jumped this morning after the firm said its maiden dividend could be paid out next month.
Biden oil leasing ban is up in air after GOP foes win in court
President Joe Biden’s plans to curtail fossil fuels hit an early roadblock Tuesday, when a federal judge ruled against the administration’s temporary ban on selling new drilling rights on federal lands and waters.
Shell mulls sale of US’s largest oilfield during climate push
Royal Dutch Shell Plc is reviewing its holdings in the largest oil field in the U.S., a possible sale that could raise as much as $10 billion, according to Reuters.
Interventek wins £1m-plus repeat order to supply Trendsetter with valves
Well-intervention technology specialist Interventek has won a repeat order with Trendsetter Engineering, of Houston, for the supply of its Revolution valves.
ConocoPhillips could struggle to find buyers for Indonesia assets worth $1.5bn
ConocoPhillips is seeking to sell its share in the giant Corridor onshore gas block in Indonesia estimated to be worth more than $1.5 billion. However, given the scale of the project and uncertainties around its future, the US major could struggle to find a buyer.
ExxonMobil celebrates new discovery at Longtail-3 offshore Guyana
ExxonMobil today said it made a discovery at Longtail-3 in the Stabroek Block offshore Guyana.
Chevron invests in Australian solar power technology developer
Chevron announced today that Chevron Technology Ventures has participated in a capital raising round for Melbourne-based solar technology developer RayGen Resources.
Tellurian adds Vitol to Gunvor for LNG offtake
Tellurian has signed a sale and purchase agreement with Vitol for the supply of 3 million tonnes per year.