ConocoPhillips

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IP Week 2021: From crisis to low carbon opportunity

This coming decade will be defined by three historic, global challenges: building a resilient recovery from the devastating Covid-19 pandemic; achieving the UN goal of universal access to energy for all populations; and charting an ambitious course - at COP26 and beyond - for tackling the threat we all face from the climate emergency.

Norway

Productive year for Norwegian explorers

Westwood Global Energy reports that there were four exploration well programmes active as of December 28. Three exploration well programmes were spudded in December and two exploration programmes completed.

Asia

Indonesia plays hardball with Repsol over gas pricing

Repsol’s potential fast-track development of its Kali Berau Dalam (KBD) giant gas discovery in Indonesia is at risk as the company struggles to agree an attractive sales price with the government.

Oil & Gas

ConocoPhillips loses $450m in third quarter

ConocoPhillips lost $450 million in the third quarter as low crude prices and reduced production during the coronavirus pandemic continued to take a toll on the company's bottom line.

Americas

Cenovus to create Canada oil giant with $2.9bn Husky deal

Cenovus Energy Inc. agreed to buy Husky Energy Inc. in a C$3.8 billion ($2.9 billion) all-stock deal that will combine two of the largest players in Canada’s beleaguered oil-sands industry, which is struggling after the slump in crude prices.

Unconventionals

Conoco to buy Concho for $9.7bn to create shale giant

ConocoPhillips agreed to buy Concho Resources Inc. for about $9.7 billion in stock, the largest shale industry deal since the collapse in energy demand earlier this year and one that will create a heavyweight driller in America’s most prolific oil field.

Asia

East Timor rethinks flawed Greater Sunrise LNG plan

East Timor is reassessing its ambitious petroleum development plans, which include the Woodside Petroleum-operated Greater Sunrise project, after discovering the economic analysis behind its proposed schemes is inaccurate.