Japan’s Japex will sell its 10% stake in a Canadian shale gas project to Malaysia’s Petronas amid concerns over profitability and its carbon footprint.
Japanese companies are increasingly focused on upstream portfolio rationalisation, with divestment of non-operated stakes in smaller oil, as well as other non-core assets, expected to accelerate, research from Wood Mackenzie shows.
The former boss of Malaysian national oil company (NOC) Petronas, Tan Sri Wan Zulkiflee, has joined ExxonMobil’s board of directors, in a move that has surprised some industry watchers.
Shell is pushing ahead with plans to divest its share of the giant Abadi LNG project in the Masela Block offshore Indonesia.
Aberdeenshire Conservative MP Colin Clark claimed the UK energy sector could be about to "cut off its nose to spite its face" if it doesn't utilise the skills from North Sea oil and gas during a Treasury Committee meeting.
A group of MSPs have called on the Scottish Parliament to end its investment in fossil fuels.
The Faculty of Public Health (FPH) has announced it has ended its investment in fossil fuels over climate change concerns.
This week has seen a number of announcements from oil major Shell including the divestment of its downstream assets in Denmark.
Oil major Shell is said to be lining up assets for a $30billion divestment program which could extend from the US and Trinidad to India following its takeover of BG Group last month.