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?
Will 2023 see the majors, including ExxonMobil, Chevron, Shell, BP, ConocoPhillips, TotalEnergies, and Eni, divest upstream oil and gas assets in Southeast Asia?
Norwayโs $1.3 trillion sovereign wealth fund took profit on the worldโs biggest oil and gas companies after a run up in energy prices in 2022.
โProduction 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,โ he said. Many wells need to undergo workovers, he said, in order to make it fit for the long term.
Chevron Corp. posted disappointing fourth-quarter results just days after surprising investors with a mammoth $75 billion share-buyback program.
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 Chinaโs re-opening are dimming the outlook for 2023.
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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.
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 Indonesiaโs second-largest oil producing block after taking over from previous operator Chevron in August 2021.
The East Mediterranean โhas abundant energy resources, and their development is driving strategic collaboration in the regionโ.
Shelf Drilling has extended the contract on its Shelf Drilling Tenacious jack-up, offshore Angola.
Chevron chief executive Mike Wirth pushed back on claims by President Joe Biden that Big Oilโs record profits are being made on the back of the war in Ukraine and at the expense of the American people.
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.
Minister El-Molla said Egypt had doubled its efforts to attract new investments in the hydrocarbon sector in 2022.
Shareholder activist group Follow This filed resolutions with Shell (LON: SHEL), BP (LON: BP), ExxonMobil (NYSE: XOM) , and Chevron (NYSE: CVX).
Genel Energy has said its Sarta field, in Kurdistan, has fallen short of expectations and the company will need to impair the assetโs value.
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, home to the worldโs 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 (NYSE:CVX) has taken a final investment decision (FID) to expand the Tamar field, offshore Israel.
Chevron has found gas off Egypt at its Nargis block, according to Welligence Energy Analytics.
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 nationโs key resources sector.
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.
Numerous tributes have been paid by industry figures to Jim Trodden, best known as the โunmistakably recognisable voiceโ of Step Change in Safety.
Shelf Drilling has extended a contract with Chevron in Angola for the Shelf Drilling Tenacious.
Chevron (NYSE:CVX) is studying plans to sell greenhouse gas storage space in Australian underground reservoirs to polluters across Asia.
Three of East Asiaโs leading energy and infrastructure groups have signed a new agreement to explore the development of green hydrogen and ammonia projects in Indonesia.