Kentech strikes deal to buy SNC-Lavalin’s oil and gas business
Energy services firm Kentech has struck a deal to buy Canadian engineering company SNC-Lavalin’s oil and gas division.
Chevron
IOCs eye $12 billion worth of mergers and acquisition deals in the Asia Pacific region
Upstream merger and acquisitions (M&A) deals are expected to rebound in Asia Pacific this year after plunging to their lowest level this century in 2020, when the pandemic and collapse in oil and gas prices killed activity.
Exxon, Chevron discussed possible merger in 2020, report says
Exxon Mobil and Chevron discussed a possible merger last year as the coronavirus pandemic pummeled the industry and put extreme financial pressure on the two largest U.S. oil giants, according to a report in The Wall Street Journal.
Thailand’s PTTEP eyes more Middle East deals after $2.45bn BP pact
Thailand’s state-backed upstream player PTT Exploration & Production (PTTEP) said Monday that its $2.45 billion deal to buy a 20% stake in one of Oman’s strategic gas fields from UK major BP will pave the way for future investments in the Middle East.
Delek mulls debt-for-equity swap for North Sea operator Ithaca Energy
Delek is considering a debt-for-equity swap and dual listing for North Sea operator Ithaca Energy in order to cut the parent firm's £1billion debt pile.
S&P swings downgrade axe on energy majors amid transition
S&P Global Ratings has downgraded its outlook for a number of energy majors, driven by concerns around the energy transition and pressure on profitability.
Chevron awards Subsea 7 contract for Angola Sanha Lean platform
Subsea 7 has won a contract worth up to $300million for construction of a platform for the Chevron Sanha Lean Gas Connection (SLGC) project off Angola.
Chevron backs a startup proposing turning carbon into gravel
Chevron Corp. is investing in a California startup that captures carbon dioxide from factories and converts the greenhouse gas into gravel and other building materials.
Chevron CEO vows higher returns, lower carbon to revive Big Oil
Fresh from overtaking ExxonMobil as North America’s biggest oil company, Chevron has a “simple promise” to investors: higher returns and lower carbon.
Big oil pays for past bets on fossil fuels With $70 billion hit
Exxon Mobil Corp.’s impending writedown of natural gas fields rounds out a record year for Big Oil chargeoffs stemming from misplaced optimism on the future of fossil fuels.
ExxonMobil to take biggest writedown in modern history
ExxonMobil is about to incur the biggest writedown in its modern history as what was once an exemplar of American capitalist might shudders under the weight of debilitated energy markets.
Ithaca holds out hope of sanctioning next stage of Captain EOR project in 2020
Ithaca Energy hasn’t abandoned hope of sanctioning phase two of its enhanced oil recovery (EOR) programme on the Captain field before year end.
Chevron reaches first oil at Sarta
Chevron has reached first oil at the Sarta field, in Kurdistan, from an early production facility.
West of Shetland oil and gas remains UK’s best bet for growth despite recent setbacks
The West of Shetland oil and gas (WoS) basin has long been held aloft as the UK’s last great hope for indigenous oil and gas production growth.
Big oil has a long way to go on setting emissions targets
Just five of the 39 largest oil and gas companies have announced carbon-reduction targets that match levels needed to avoid a 2-degree Celsius temperature increase. And only 20 have taken initial steps to disclose how they plan to lower emissions produced by both their operations and electricity use, known respectively as Scope 1 and Scope 2.
Assessing energy merger and acquisition opportunities in a time of pandemic
Mergers and acquisitions have been slowed by the COVID-19 outbreak. But as companies embrace the energy transition opportunities will arise
Building resilience: Creating global decom efficiencies
The universal "pause" brought on by Covid-19 has been overridden by the realisation that this pandemic and its repercussions are challenges we have to deal with and adapt to if we are to survive and thrive.
Weak demand to limit East Med gas
Poor gas demand may restrain Eastern Mediterranean production until 2023, GlobalData has warned.
Tensions escalate in Nigeria over #endSARS protests
A Nigerian protest movement calling for changes to policing has received support from a group of Niger Delta militants, while coming under fire in Lagos.
Chevron seeks bids for huge Thai decommissioning wave
Chevron is seeking contractors for a major retirement campaign across the Gulf of Thailand as the Southeast Asian nation braces for a huge wave of decommissioning.
US oil production has already passed its peak, Occidental says
America’s oil production will never again reach the record 13 million barrels a day set earlier this year, just before the pandemic devastated global demand, according to Occidental Petroleum Corp.
Stena lines up decommissioning work off Israel
Stena Drilling has signed a new contract with Noble Energy for decommissioning work offshore Israel.
King Chrysaor, dratted imperialists, and five days of Forties at 50
In this week’s episode, in association with the ISA, the EV boys got under the skin of the week’s biggest slab of M&A news, which sees private-equity backed Chrysaor cement its position as the UKCS’s production King through a merger with Premier Oil.
US oil and gas majors lagging behind in energy transition according to Carbon Tracker
US oil and gas majors are lagging significantly behind their European counterparts in adapting to the energy transition, according to a new report.
Chevron signs Rokan deal as Indonesia exit looms
Indonesia is taking proactive steps in a bid to avoid a sharp drop in upstream production as state-backed Pertamina takes over more legacy assets from international oil companies (IOCs).