Occidental Petroleum Jumps into Acquisition Mode

(Reuters) Occidental Petroleum said on Monday it would buy energy producer CrownRock in a cash-and-stock deal valued at $12 billion including debt, expanding in the lucrative Permian basin. Investors are pressing oil and gas producers to expand their inventories following Exxon Mobil's $60 billion deal for Pioneer Natural Resources and Chevron's $53 billion agreement for Hess in October. Occidental will finance the purchase of... Continue Reading →

December 11, 2023 0

NNPC teams up with Wison for floating LNG project in Nigeria

Wison (Nantong) Heavy Industry, an affiliate of Wison Offshore & Marine (WOM), has entered into a memorandum of understanding (MoU) with Nigeria National Petroleum Corporation (NNPC) for the development of a floating LNG project in Nigeria, targeting the international LNG market. Wison and NNPC signed the MoU at COP28 in Dubai on December 6, 2023.... Continue Reading →

December 11, 2023 0

PRIO on interim dividends

– PRIO S.A. ("Company" or "PRIO") (B3: PRIO3) informs its shareholders and the market in general that, at a meeting of the Board of Directors held on this date, the payment of interim dividends, to the account of the unrealized profits reserve, in the total gross amount of R$60,615,773.09 (sixty million, six hundred and fifteen... Continue Reading →

December 9, 2023 0

Japan’s Kansai Comes Onboard Norwegian Floating Offshore Wind Project

Japanese utility, the Kansai Electric Power Company (Kansai), has joined the Source Galileo, Odfjell Oceanwind, and Vår Energi partnership which is developing a floating offshore wind project at the Goliat platform outside Hammerfest in Norway. Located approximately 95 kilometres from Hammerfest at a depth of 3-400 metres, the GoliatVIND floating offshore wind project could add... Continue Reading →

December 7, 2023 0

Chevron Boosts Project Spending by 11% for 2024

(Reuters) Oil major Chevron Corp said on Wednesday that it expects to spend between $18.5 billion and $19.5 billion next year on new oil and gas projects, an 11% increase on this year. Its 2024 budget and that of rival ExxonMobil reflect the industry's continuing rebound after pandemic-influenced pullbacks, recent acquisitions and carbon reduction initiatives. Exxon plans... Continue Reading →

December 7, 2023 0

Exxon’s CEO sets ambitious agenda on tight timeline

(Reuters) - Exxon Mobil (XOM.N) CEO Darren Woods' first five years at the oil company were marred by missed oil production targets, an investor rebellion and the company's biggest-ever financial loss. Redemption came this year when - aided by a share price pumped up by high oil prices - he clinched a $60 billion deal to buy shale rival... Continue Reading →

December 6, 2023 0

TotalEnergies at COP28 says renewables the way to phase out fossil fuels

(Reuters) - TotalEnergies's (TTEF.PA) CEO gave his backing to an international pledge to triple renewable energy generation at the COP28 climate summit, calling it necessary to phase out fossil fuels and decarbonise. "It's the right way to frame the object, tripling renewables, because if we don't do that, there's no way to phase out fossil energy," Patrick Pouyanne told... Continue Reading →

December 6, 2023 0

Green Energy Giants to Invest $16 Billion in Offshore Wind and Hydrogen

(OP) Spain’s Iberdrola and the UAE’s Masdar agreed on Tuesday to form a strategic partnership looking to invest $16.2 billion (15 billion euros) in offshore wind and hydrogen in major markets including the U.S., the UK, and Germany. Iberdrola, a utility giant with 41 gigawatts (GW) of renewables in operation, and the UAE’s clean energy developer Masdar... Continue Reading →

December 5, 2023 0

Governments take action to keep offshore wind projects on track

(Reuters) - Governments have decided to pay up to revive offshore wind farm developments after rising costs put at risk multiple projects that are needed to help them cut emissions and reach climate targets. Many countries are relying on a huge and rapid build-out of offshore wind farms which have high upfront costs but over... Continue Reading →

December 5, 2023 0

South America’s Offshore Oil Boom Will Challenge OPEC’s Dominance

(OP) In Guyana’s territorial waters, after Exxon’s swathe of world-class petroleum discoveries, gigantic ships called floating production storage and offloading (FPSO) vessels are sucking crude oil from reservoirs up to four miles below the Earth’s surface. Since then, it has been estimated the former British colony of just over 800,000 possesses at least 11 billion barrels of recoverable... Continue Reading →

December 4, 2023 0