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(Reuters) - Exxon Mobil (XOM.N) and Chevron (CVX.N) are flush with cash yet their acquisition targets are taking stock as the only form of payment, an arrangement that allows the two largest U.S. energy companies to clinch transformative deals despite volatile oil and gas prices. Chevron said on Monday it would acquire Hess (HES.N) in a $53 billion all-stock deal, less than two... Continue Reading →
(Reuters) - Chinese national offshore oil and gas major CNOOC Ltd (0883.HK), on Tuesday revised up its 2023 capital spending to a record on building new production capacities, after reporting an 8.13% fall in third-quarter profit on lower realised oil prices. Despite higher oil and gas output, net profit during July-September period fell to 33.88 billion... Continue Reading →
(Reuters) - Halliburton (HAL.N) reported a 32% rise in third-quarter profit on Tuesday as higher international drilling and equipment demand helped overcome weakness in North America. Oil and gas companies, who rely on service providers for drilling, well construction and completion services, are reinvesting record profits from the market disruption caused by Russia's invasion of Ukraine to... Continue Reading →
(OW) The Netherlands will reach, and exceed, the target set in its Offshore Wind Energy Roadmap 2023 by the end of this year. The country’s first offshore wind roadmap, created following the Dutch Energy Agreement signed ten years ago, sets a goal of 4.5 GW of installed capacity by the end of 2023 – and... Continue Reading →
(Reuters) - Chevron Corp (CVX.N) said on Monday it will buy smaller rival Hess Corp (HES.N) in a $53 billion all-stock deal, putting the company head to head with rival Exxon (XOM.N) in two of the world's fastest growing oil basins - shale and Guyana. The deal comes weeks after Exxon made a $59.5 billion offer for Pioneer Natural Resources (PXD.N) that would make it the biggest... Continue Reading →
(OET) Solstad Shipholding, a subsidiary of Solstad Offshore, has reached an agreement with Aker, via its wholly owned subsidiary Aker Capital, AMSC, DNB Bank and Export Finance Norway (Eksfin) for an overall refinancing solution which will create a robust industrial platform going forward. Solstad has, together with Aker, developed and negotiated NOK 9.7 billion (almost... Continue Reading →
(Reuters) - SLB (SLB.N) edged past estimates for quarterly profit on Friday as strength in the overseas drilling market to meet the insatiable global appetite for oil drove demand for its oilfield equipment, offsetting weakness in North America. Oilfield services firms have been kept busy as oil and gas companies reinvest their windfall profit, reaped when Russia... Continue Reading →
(Reuters) - Considerable private investment is required to scale up the low-carbon hydrogen economy in the United States by 2030, a report by consultancy Wood Mackenzie said on Tuesday, adding that the $7 billion allotted by the U.S. Department of Energy (DoE) to regional hubs was a significant step. Last week, the Biden administration announced... Continue Reading →
(Reuters) - Exxon Mobil Corp. (XOM.N) expects to make a final investment decision on its sixth oil project in Guyana by the first quarter of 2024, the company's country chief Alistair Routledge said on Tuesday. In August, Exxon and partners proposed a plan to spend $12.93 billion to develop the Whiptail offshore oil project. The floating production... Continue Reading →
(OE) TotalEnergies and its partner SSE Renewables said Tuesday that their Seagreen offshore wind farm, Scotland's largest and the world’s deepest fixed-bottom wind farm, is now fully operational and running at its design capacity of 1,075 MW. Seagreen is a joint venture between TotalEnergies (51%) and SSE Renewables (49%). It is located in the North... Continue Reading →
Brazil Energy Insight 