Energy service firm Petrofac today announced the award of a one-year extension to its integrated services contract with North Sea operator Neo Energy.
Oil and gas producers will be subject to tougher liabilities and rules around decommissioning in Australia in an effort to prevent a repeat of the Northern Endeavour fiasco, which is expected to cost taxpayers over $190 million.
Communities close to the petro chemical plants at Mossmorran have been warned to expect flaring as a £140million upgrade of the processing plant gets set to begin in earnest.
At the start of the new tax year, we explore the financial landscape of the energy sector.
A year on from being hit by some of the biggest challenges the upstream exploration and production (E&P) sector has faced and so far in 2021, we have seen a greater volume of disclosed North Sea deal value than in the whole of 2020.
New York City suffered another setback in its effort to make Exxon Mobil Corp., BP Plc and other energy companies help cover the public costs of dealing with climate change, as a federal appeals court ruled the global problem demands political rather than legal action.
Exxon Mobil Corp. expects first-quarter earnings to be reduced by as much as $800 million due to the deep freeze that plunged Texas into darkness last month.
Qatar Petroleum (QP) will become the sole owner of the Qatargas 1 joint venture, after opting not to renew the deal with Total, ExxonMobil, Marubeni and Mitsui.
Singapore’s Energy Market Authority (EMA) has awarded ExxonMobil and Sembcorp Fuels the right to import liquefied natural gas (LNG) as pipeline supplies dwindle.
Some Nigerian communities will never receive a “fair share” of the cash generated from oil and gas produced in their neighbourhoods, a report has warned.
The decommissioning bill for NEO Energy’s newly-acquired Exxon Mobil assets in the UK has been estimated at $1.1billion (£795m).
Neo Energy intends to make a call on the redevelopment of the Affleck field in the UK central North Sea “in the next few months”.
More than A$50 billion ($40.5 billion) of necessary decommissioning work needs to be carried out on Australia’s offshore oil and gas infrastructure, over half of which must be started within the next ten years.
Neo Energy has continued its acquisition spree with a £450 million swoop for fellow private-equity backed North Sea oil firm Zennor Petroleum.
ExxonMobil’s Bulletwood-1 well offshore Guyana found reservoirs but no commercial hydrocarbons.
As expected, COVID wrought havoc with earnings, leaving ExxonMobil with an enterprise-wide return on capital employed of minus 9.5%. But the real story was not in the income statement; it was the estimate of oil reserves.
Majors, such as BP, Total and Shell, as well as Asian national oil companies (NOCs), are stepping up their investments in India’s rapidly expanding gas and renewables markets.
NEO Energy plans to continue its growth spurt after announcing a billion-dollar deal to acquire ExxonMobil assets in the North Sea.
ExxonMobil has agreed to sell a package of UK northern and central North Sea assets to NEO Energy in a deal worth more than $1billion (£707.3m).
The downturn brought by the Covid-19 pandemic and the accelerating energy transition has created a new reality for the world’s oil and gas industry, whose production will peak lower and earlier than expected before the 2020 market crisis, a Rystad Energy analysis shows.
US oil majors ExxonMobil, Chevron and ConocoPhillips had their credit ratings lowered after S&P Global Ratings followed through on its recent warning and revised the industry’s risk profile due to climate change and weak earnings.
DNO has bought out ExxonMobil’s 32% stake in the Baeshiqa licence, increasing the Norwegian company’s stake to 64%.
The delayed Total-led liquefied natural gas (LNG) export development in Papua New Guinea (PNG) has signed a key fiscal stability agreement with the government. This marks a significant step in de-risking the proposed 5.33 million tonne per year Papua LNG scheme.
Energy services firm Kentech has struck a deal to buy Canadian engineering company SNC-Lavalin’s oil and gas division.
The Indian government is trying to persuade ExxonMobil to take stakes in offshore acreage controlled by state-backed Oil & Natural Gas Corporation (ONGC).