ExxonMobil is the least resilient oil supermajor – Wood Mackenzie
New research has named ExxonMobil as the least "resilient" supermajor to weather the current oil downturn.
Australia
Worley cuts another 1,900 jobs due to Covid-19
Engineering giant Worley has cut another 1,900 jobs globally in response to the Covid-19 crisis.
Sonangol signs up to drill wells in Cuba
Sonangol has signed a deal to farm in to a block onshore in Cuba, under an agreement with Australia-listed minnow Melbana Energy.
Australia looks to Big Oil in latest plan to curb emissions
Australia is seeking to cut emissions in one of the world’s biggest per-capita polluters by encouraging oil firms including Chevron Corp. and Woodside Petroleum Ltd. to invest in carbon-reduction projects.
Asia Pacific M&A shake-up on the horizon
More assets are expected to hit the market across Asia Pacific this year following the sustained drop in global oil prices and the COVID-19 pandemic, which has destroyed energy demand growth as economic activity contracts.
Silver lining for Asian LNG market after oil price crash
Lower long-term LNG prices could encourage coal-to-gas switching in Northeast Asia, while Chinese LNG demand is also expected to expand this year, albeit at a slower rate, as China gets back to work.
PNG-focused Oil Search is a takeover target
Despite a recently announced planned capital raising, Australian-listed Oil Search, which has major stakes in Papua New Guinea’s emerging LNG sector, is a prime takeover target, as mergers become more likely in a low oil price world.
Subsea 7 wins deals off Australia and US Gulf of Mexico
Subsea 7 has announced the award of new contracts off the coast of Australia and the US Gulf of Mexico.
Equinor drops Australia oil plan in win for green activists
Equinor ASA has dropped plans for oil drilling deep in the ocean off Australia’s south coast following a sustained campaign from environmentalists who said the project posed too big a risk to the vast and unique marine ecosystem.
Golden years ahead for Alchemy Oilfield Services as founder hands reins to son
An Aberdeenshire oilfield chemistry firm is hailing the start of a new era as one of the pioneers of the market hands over the reins to his son.
Australia could add record amounts of renewable power in 2020 – Rystad
Australia is set to add a record amount of renewable power in 2020, driven by growing corporate demand for clean electricity and to fill generation gaps created by the retirement of aging coal-fired plants.
Wood ties up £100m contract extension with Melbourne Water
Energy services giant Wood has secured a £100 million, three-year contract extension to provide maintenance on Melbourne's water infrastructure.
Exploration in 2020: Transition, what transition?
The Energy Transition and Extinction Rebellion may have led the energy news agenda and stimulated reflection in many E&P boardrooms in 2019, but the impact on exploration drilling is not yet apparent.
Australian LNG to beat out Qatar in 2019
Australian LNG exports will rise to 81 million tonnes in 2019-20, according to the country’s new Resources and Energy Quarterly (REQ), although the value of these will decline.
Chevron buys Australia’s Puma Energy for nearly $300m
U.S. energy giant Chevron will buy Australia's Puma Energy for about $292 million to provide more fuel distribution support in the Asia-Pacific region.
Asia Pacific upstream M&A set to accelerate
Southeast Asia and Australia are set to take centre stage in the region’s upstream M&A activity as private equity companies sense a value opportunity.
QP targets two more LNG trains by 2027
Qatar Petroleum (QP) intends to produce 126 million tonnes per year of LNG by 2027, from its current level of 77mn tpy.
Australia billionaires plan to export solar power to Singapore
Two of Australia’s richest people, Atlassian Corp. co-founder Mike Cannon-Brookes and Fortescue Metals Group Chairman Andrew Forrest, are investing in an ambitious project to export solar power from a giant plant in Australia to Singapore via a 4,500 kilometer (2,800 miles) transmission cable.
Answer to renewable energy’s big problem emerging in Australian outback
The answer to the renewable energy industry’s biggest challenge is emerging in the Australian outback.
Modec to supply FPSO for ConocoPhillips’ Barossa field
Japanese firm Modec will supply the floating production, storage and offloading (FPSO) vessel for ConocoPhillips' Barossa field, offshore Australia.
Woodside propels Scarborough ahead
Woodside Energy is pushing ahead with its Scarborough plan, even while the final investment decision (FID) for Browse has been pushed back to the first half of 2021.
Equinor picks up exploration acreage near Dorado discovery off Australia
Norwegian energy giant Equinor has picked up exploration acreage off Western Australia.
ExxonMobil puts offshore Australian assets up for sale along with other regions
Exxon Mobil is putting some of its offshore Australian assets up for sale as it continues to consider selling off many of its mature offshore assets around the world - from the Gulf of Mexico to the North Sea.
Uniper lines up for Woodside’s Scarborough supplies
Australia’s Woodside Energy has signed a preliminary deal on supply LNG to Uniper Global Commodities.
Shell sued by Australian tax office over Browse stake, report says
Royal Dutch Shell Plc has been sued by Australia’s tax authority as the agency pursues multinational companies over tax avoidance, the Guardian reported.