Petronas and ExxonMobil sign CCS project deals
Petronas has signed two project development agreements with ExxonMobil (NYSE:XOM) to jointly pursue carbon capture and storage (CCS) activation projects in Malaysia.
ExxonMobil
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.
ExxonMobil and Japan’s Nippon Steel explore CCS deal
Japan’s Nippon Steel is considering capturing carbon dioxide (CO2) emissions from its Japanese steel mills for underground storage at facilities linked to ExxonMobil (NYSE:XOM) in countries including Australia, Malaysia and Indonesia, reported Nikkei Asia.
ExxonMobil hires US contractor Helix for Australia decommissioning
ExxonMobil (NYSE:XOM), operator of the Gippsland Basin Joint Venture, has hired the Helix Q7000 semisubmersible vessel to support decommissioning activities in the Gippsland basin offshore Australia, as ExxonMobil ramps up decommissioning work.
Shell, ExxonMobil, sign CCS study deal with CNOOC in China
Shell (LON:SHEL) has signed a Joint Study Agreement with CNOOC, Guangdong Provincial Development and Reform Commission, and ExxonMobil (NYSE:XOM) for the Daya Bay carbon capture and storage (CCS) hub project in China.
ExxonMobil: Oil giant knew about climate change in 1970s as it sowed doubt
A new study of ExxonMobil's (NYSE: XOM) own climate change projections offers fresh evidence that the oil giant’s models accurately forecast global warming even as it publicly sowed doubt about the crisis.
ExxonMobil to sell Thai refinery and retail unit to Bangchak
ExxonMobil will sell its controlling stake in Esso (Thailand) Pcl, which runs a local refinery and retailing business, to rival Bangchak Corp. as the largest US oil company focuses on its home market and the production of lower-emission fuels.
Zafiro due to restart in February
“Right now, we have close to 64 wells that need to be redrilled, and for this, we cannot find funds. A lot of infrastructure has been designed for a specific period and without funds, we are left with a lot of problems.”
Exxon wins two concessions in the Nile Delta
ExxonMobil has won two blocks offshore Egypt, in the Nile Delta, covering more than 11,000 square km.
Exxon sues EU over windfall tax measures: report
ExxonMobil is reportedly suing the European Union over its newly instilled windfall tax on oil and gas producers, arguing that the bloc has overstepped its authority in enacting the measure.
Egypt launches bid round
Minister El-Molla said Egypt had doubled its efforts to attract new investments in the hydrocarbon sector in 2022.
FIDs predicted in 2023 for large untapped UK oil and gas fields
Investment decisions could be on the way for Perth, Bentley and Bressay in the North Sea, alongside West of Shetland giants.
Big Oil stages a Big Comeback as Exxon valuation passes Tesla
The largest US oil company, Exxon Mobil (NSYSE: XOM), has surpassed electric-vehicle giant Tesla Inc (NYSE: TSLA) in market value for the first time since 2020 as investors sell high-growth stocks and buy up value stocks in the energy sector.
Delays at giant projects dent Vietnam’s ambitions to expand gas sector
Multi-billion-dollar oil and gas projects remain delayed in Vietnam and undermine the Southeast Asian nation’s ambitions to expand its gas production capabilities as it seeks to move away from coal-fired power.
$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).
Top gas exporter Australia caps prices despite industry protest
Australia passed a law to cap domestic prices of natural gas to limit the impact of soaring global costs on local power bills, ignoring protests from the nation’s powerful energy exporters.
HSBC cuts off financing for new oil and gas projects
HSBC will no longer provide lending or capital markets financing for new oil and gas fields, it has announced, while accelerating support for renewable energy.
Chad deals come unstuck for Savannah Energy
It took only days for Savannah Energy’s plans for Chad to come unstuck, as the government threw up objections to its ExxonMobil acquisition.
End of year sees mixed progress on 2022’s top 10 oil and gas projects
Progress on the world’s largest oil and gas fields has been a mixed bag in 2022, with the start-up of several major projects pushed into 2023 and beyond.
TotalEnergies’ Papua LNG to use electric liquefaction trains in net zero push
TotalEnergies (LON:TTE), operator of the Papua LNG project, plans to use electric liquefaction trains at its proposed LNG export development in Papua New Guinea (PNG), as part of an effort to slash emissions, which also includes CCS.
Gas producers in Australia slam Labor’s near nationalisation of market
Australia’s Labor government is planning to seize control of domestic gas prices when it introduces extraordinary new legislation to parliament on Thursday in what has been likened to a near nationalisation of gas markets.
Savannah completes Exxon deal, inks South Sudan purchase
Savannah Energy (LON:SAVE) has completed its acquisition of ExxonMobil’s (XOM) assets in Chad and Cameroon, while launching a new deal this morning to acquire Petronas’ (KLSE:PETGAS) interests in South Sudan.
TotalEnergies to add CCS to Papua LNG project
TotalEnergies (LON:TTE) plans to add a carbon capture and storage (CCS) dimension to its proposed 5.4 million tonnes per year (t/y) Papua LNG project in the Pacific Island nation of Papua New Guinea (PNG).
Exxon aims for low-cost growth in five-year plan
ExxonMobil has set out plans to focus on high return, low cost projects in the Permian Basin, Guyana, Brazil and LNG internationally.
Pertamina starts negotiations with Shell to buy Masela stake in Indonesia
Indonesia’s state-backed energy company Pertamina has started official negotiations with Shell (LON:SHEL) to acquire the Anglo-Dutch supermajor’s 35% share of the undeveloped Abadi LNG project in the Masela Block offshore Indonesia.