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(Reuters) Chevron said on Monday it agreed to buy Hess HES.N for $53 billion in stock, the second proposed mega-merger among the biggest U.S. oil players after Exxon Mobil bid $60 billion for Pioneer Natural Resources earlier this month. The proposed deal raises the competition between Chevron, the No. 2 U.S. oil and gas producer behind Exxon,... Continue Reading →
(OET) U.S.-headquartered energy giant ExxonMobil is in the process of expanding its footprint in the U.S. even further, thanks to a definitive agreement to acquire Pioneer Natural Resources in an all-stock transaction, which has an implied total enterprise value, including net debt, of approximately $64.5 billion. The oil major believes that this deal will strengthen the... Continue Reading →
Brazilian state-owned oil and gas giant Petrobras has awarded TechnipFMC with a contract to supply flexible pipes for pre-salt fields offshore Brazil. Under the contract deemed as “significant”, TechnipFMC will design, engineer, and manufacture 14 kilometers of gas injection riser pipes and will supply associated services including packing and storage. Jonathan Landes, President of Subsea at TechnipFMC... Continue Reading →
U.S.-based developer of ocean robots Nauticus Robotics has secured term loan financing of up to $20 million from existing investors that will be used to bolster the commissioning and commercialization of its fleet. Nauticus Robotics entered into a senior secured term loan agreement with existing stakeholders Transocean, ATW Partners, Material Impact, and RCB Equities which provides the... Continue Reading →
(Reuters) Shell CEO Wael Sawan has come under pressure over his strategy from within the energy company after two employees issued a rare open letter urging him not to scale back investments in renewable energy, sparking an internal debate. The open letter, posted earlier this month on Shell's internal web and seen by Reuters this week, comes... Continue Reading →
(Reuters) - Chevron Corp (CVX.N) plans to add 65,000 barrels per day (bpd) of Venezuelan oil output by the end of 2024 through its first major drilling campaign in the nation since Washington allowed it to restore production clipped by U.S. sanctions, three people familiar with the matter said. The effort could help Venezuela keep lifting crude... Continue Reading →
(Reuters) - A BP Plc (BP.L) and Shell Plc (SHEL.L) consortium have reached an agreement with Trinidad and Tobago to explore three deepwater blocks for hydrocarbon production in the Caribbean country, Minister of Energy Stuart Young said on Thursday. The deal would help Trinidad speed up offshore exploration and production to secure more natural gas to support its liquefied... Continue Reading →
(Reuters) Shell has given financial approval for the development of the massive Manatee gas field offshore Trinidad and Tobago, the country's Prime Minister Keith Rowley said on Thursday. Trinidad is Latin America's largest LNG exporter, but its flagship Atlantic LNG project no longer receives enough gas supply to keep its four liquefaction units running. The government in... Continue Reading →
(Reuters) TotalEnergies will begin studies for developing a $9 billion oil and gas project at Suriname's most promising offshore area, the French energy firm said on Wednesday during a visit by its CEO to the South American country. CEO Patrick Pouyanne met with Suriname President Chan Santokhi on Wednesday to discuss the project, which could inaugurate Suriname's offshore production. TotalEnergies... Continue Reading →
(Reuters) - Shell (SHEL.L) plans to increase its oil production by 5,000 barrels per day (bpd) in Argentina's Vaca Muerta shale formation to 50,000 bpd by the end of the year despite limitations on investment, its chief executive said on Tuesday. Ricardo Rodriguez, Shell's CEO in Argentina, said at an oil and gas conference in Buenos Aires... Continue Reading →
Brazil Energy Insight 