Upstream M&A in Southeast Asia: will the oil and gas majors divest in 2023?
Will 2023 see the majors, including ExxonMobil, Chevron, Shell, BP, ConocoPhillips, TotalEnergies, and Eni, divest upstream oil and gas assets in Southeast Asia?
Chevron
Norway’s wealth fund cuts big oil holdings in profit taking move
Norway’s $1.3 trillion sovereign wealth fund took profit on the world’s biggest oil and gas companies after a run up in energy prices in 2022.
Equatorial Guinea sets out Zafiro, gas hub plans
“Production is not at the level we would like. We intend to own the asset and we need a new plan of development, which will take different things into consideration,” he said. Many wells need to undergo workovers, he said, in order to make it fit for the long term.
Updated: Chevron falls after posting disappointing quarterly result
Chevron Corp. posted disappointing fourth-quarter results just days after surprising investors with a mammoth $75 billion share-buyback program.
Big Oil faces headwinds after record $199 billion profit haul
Exxon Mobil, Chevron, Shell, TotalEnergies and BP reaped almost $200 billion collectively last year but fears of an economic slowdown, plunging natural gas prices, cost inflation and uncertainty over China’s re-opening are dimming the outlook for 2023.
League table: Which oil and gas firms produce most emissions?
Which integrated gas companies produce the most emissions?
Chevron to buy back $75bn in stock after record profit
Chevron plans to buy back $75 billion of shares and increase dividend payouts after a year of record profits that evoked angry denunciations from politicians around the world as soaring energy prices squeezed consumers.
Another worker killed at Pertamina’s Rokan Block in Indonesia
One worker was killed in a work-related accident at the Rokan Block in Indonesia, operated by national oil company Pertamina. A subsidiary of the NOC, Pertamina Hulu Rokan (PHR), is aggressively trying to boost output at Indonesia’s second-largest oil producing block after taking over from previous operator Chevron in August 2021.
Chevron scores major gas find in East Med
The East Mediterranean “has abundant energy resources, and their development is driving strategic collaboration in the region”.
Chevron extends jack-up contract from Shelf Drilling
Shelf Drilling has extended the contract on its Shelf Drilling Tenacious jack-up, offshore Angola.
Chevron CEO defends record profits as ‘modest return’ over time
Chevron chief executive Mike Wirth pushed back on claims by President Joe Biden that Big Oil’s record profits are being made on the back of the war in Ukraine and at the expense of the American people.
Transocean takes eight-gen Titan for Chevron work
Transocean ordered the two drillships in February 2014, agreeing to pay $540 million for each of the vessels. Sembcorp said it would deliver the rigs in 2017 and 2018.
Egypt launches bid round
Minister El-Molla said Egypt had doubled its efforts to attract new investments in the hydrocarbon sector in 2022.
$1.4 trillion investors call on Big Oil for more aggressive climate targets
Shareholder activist group Follow This filed resolutions with Shell (LON: SHEL), BP (LON: BP), ExxonMobil (NYSE: XOM) , and Chevron (NYSE: CVX).
Genel set to write down value of Sarta field
Genel Energy has said its Sarta field, in Kurdistan, has fallen short of expectations and the company will need to impair the asset’s value.
Eni denies that it has replaced Chevron as operator of IDD project
Eni (MIL:ENI) has denied reports in Indonesia last week, citing a senior government official, suggesting that the Italian company had become the new operator of the Indonesia Deepwater Development (IDD) project, replacing Chevron.
Indonesia seeks investors for giant geothermal energy resources
Indonesia, home to the world’s largest geothermal energy potential, is opening tenders seeking investors to develop this giant resource, as it aims to expand the use of renewable energy to meet its net zero goals.
Chevron greenlights Tamar expansion
Chevron (NYSE:CVX) has taken a final investment decision (FID) to expand the Tamar field, offshore Israel.
Report: Chevron strikes gas off Egypt
Chevron has found gas off Egypt at its Nargis block, according to Welligence Energy Analytics.
Chevron finds nearly half its Australia staff have been bullied
Chevron found almost half of employees and contractors in Australia have been bullied in the past five years and a third experienced sexual harassment, adding to shocking revelations of abuse across the nation’s key resources sector.
Chevron VP Kim McHugh takes the helm at IOGP
Chevron vice president of wells, Kim McHugh, will head the board of the International Association of Oil and Gas Producers (IOGP) as the influential industry body enters its 49th year.
Tributes paid to Chevron veteran and ‘voice of Step Change in Safety’, Jim Trodden
Numerous tributes have been paid by industry figures to Jim Trodden, best known as the “unmistakably recognisable voice” of Step Change in Safety.
Chevron extends jack-up contract with Shelf Drilling
Shelf Drilling has extended a contract with Chevron in Angola for the Shelf Drilling Tenacious.
Chevron seeks to bury Asia’s emissions in Australia
Chevron (NYSE:CVX) is studying plans to sell greenhouse gas storage space in Australian underground reservoirs to polluters across Asia.
Chevron, Pertamina, Keppel to explore geothermal-powered hydrogen and ammonia projects
Three of East Asia’s leading energy and infrastructure groups have signed a new agreement to explore the development of green hydrogen and ammonia projects in Indonesia.