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Offshore installation and construction company McDermott has signed a memorandum of understanding with Shell Eastern Petroleum Pte Ltd (Shell), a subsidiary of Shell, to collaborate on decarbonizing construction. "The agreement enables McDermott and Shell to explore opportunities for reducing, and eliminating, emissions from construction through pathways such as low carbon fuels, renewable power, digital solutions and... Continue Reading →
Italian oil and gas company Eni is increasing its renewables investments and has now acquired a 20% stake in the 1.2GW Dogger Bank C offshore wind project in the UK, by acquiring a 10% stake from each Equinor and SSE. With the acquisition, Eni has now become Equinor's and SSE's partner in all three phases... Continue Reading →
Guyana plans to auction new blocks for offshore oil exploration by the third quarter of 2022, Vice President Bharrat Jagdeo said late on Monday. A consortium led by Exxon Mobil is responsible for all output in Guyana, Latin America's new oil frontier, since the vast Stabroek block began producing in 2019. About 10 billion barrels... Continue Reading →
(Reuters) - Venezuela's oil exports last month surpassed 700,000 barrels per day (bpd) as supplies of imported diluents boosted production and shipments, according to documents from state-run firm PDVSA and Refinitiv Eikon tracking data. The OPEC-member country's largest oil producing region has regained its output and blending capacity in recent weeks after Iran, one of... Continue Reading →
(Reuters) - BlackRock Inc (BLK.N) told Reuters it has raised a target-beating $673 million for an infrastructure fund with backing from the French, German and Japanese governments to invest in climate-focused projects such as renewable energy in emerging markets. The world's largest money manager hopes the fund, to be announced on Tuesday and dubbed the Climate Finance... Continue Reading →
BP added more than a billion dollars to its share buyback program on Tuesday as it likened itself to a "cash machine" benefiting from higher oil and gas prices and a strong trading performance in the third quarter. Natural gas and power prices around the world surged this autumn as tight gas supplies collided with... Continue Reading →
Sapote-1, ExxonMobil's third well in the Canje Block offshore Guyana, has, after the first two wells, Bulletwood-1 and Jabillo-1, failed to unearth evidence of commercial hydrocarbon volumes, too. Westmount Energy, an indirect partner in the Canje Block through its stake in JHI Associates, the Sapote-1 well on the Canje Block was drilled in 2,549 meters of water by... Continue Reading →
(Bloomberg) --The world’s biggest energy companies are producing the most cash in years, but don’t expect them to spend it on bringing on fresh supplies of oil and natural gas to combat shortages in Europe and China this winter. Exxon Mobil Corp., Royal Dutch Shell Plc and Chevron Corp. confirmed this week that, for the... Continue Reading →
Exxon Mobil on Friday pledged to revive a share repurchase program next year as its earnings outlook improved on quarterly results that topped analysts' estimates. The largest U.S. oil producer posted an adjusted profit of $1.58 a share, beating the Refinitiv estimate by two cents, with results lifted by oil and gas prices that have... Continue Reading →
(Reuters) - Italian energy group Eni (ENI.MI) on Friday beat expectations with a third-quarter profit that jumped back to pre-COVID levels boosted by higher gas prices. The group swung to an adjusted net profit of 1.43 billion euros ($1.67 billion) from a 153 million euro loss a year earlier and beat a 1.08 billion euro consensus forecast.... Continue Reading →
