Chevron posted better-than-expected earnings as output in the Permian Basin soared to a record and the oil giant said it waived the mandatory retirement age for Chairman and Chief Executive Officer Mike Wirth.
Chevron expects to inject even less CO2 at its flagship Gorgon CCS plant this year than in 2022, amid issues with water management and seismicity.
It will increase the throughput of gas from 1.2 billion cubic feet per day to nearly 1.4 bcf per day, or from 12 billion cubic metres per year to 14 bcm. The new gathering pipeline should reach first gas in the second half of 2025.
Sapura Energy has also said its proposed restructuring would include a “white knight” investing 1.8 billion ringgits ($390mn) in the business.
At over $8billion, big company corporate venture capital investment (CVC) in clean energy start-ups ran at a record high last year.
The deal valued PDC at $6.3 billion, or $72 per share. The company is currently trading at around $65, with the deal offering a 11% premium.
Chevron’s flagship carbon capture and storage project in Australia faces years of work to hit full capacity, underscoring the challenge of a technology seen as necessary to help the world hit climate goals.
Oil production from the block could start as early as two years after a deal is signed, Budimbu said.
You only need to have read a little of the media coverage to realise there were some clear key themes to emerge from CERAWeek 2023.
As of January 1, 2024, LNG produced from the Alba field “will be sold into the global LNG market, which is expected to drive a significant financial uplift for our company given the material arbitrage between Henry Hub and global LNG pricing”.
Officials have recovered the body of the crew member and will return him to his family.
A handful of West of Shetland assets have been highlighted by industry experts as potential acquisition targets for Viaro Energy.
Thailand ordered its navy to join efforts to rescue an oil storage vessel operated by a unit of Chevron that was damaged earlier this week during a routine maintenance in the Gulf of Thailand.
“[Jera] are interested in whether there is a way to drop products such as hydrogen and ammonia into the LNG value chain,” said Jeff Gustavson, president of Chevron New Energies.
The facility will process 150,000 barrels per day of condensate, producing 2.3 million tonnes per year pf aromatics. It will produce 50,000 tpy of hydrogen.
Values – according to the rather twee maxim - are like lighthouses; they give direction, meaning and purpose.
The demonstration project will use DAC or CO2 captured from industrial emitters. Santos aims to use its existing infrastructure to “generate, liquefy and export” e-methane to Japan.
Around three billion barrels oil equivalent (boe) of resources,worth a total $5 billion are on the market, in Southeast Asia.
A year of high commodity prices and record profits for oil and gas majors has many questioning what to do with all their cash - with increasing amounts returned to investors via buybacks.
The two talked about Chevron’s plans in Egypt. These include increasing production and co-operation in exporting gas from the region to Europe.
Chevron veteran of 31 years, Peter Blake, was honoured Outstanding Contribution Award at the Subsea Expo Awards last night.
The Israeli company has also talked about building a third gathering line at Leviathan, with a final investment decision (FID) due early this year.
Despite record cash generation, supermajors are investing $100bn less in upstream capex than a decade ago as low-cost, low-emissions projects take priority.
SLGC is intended to tackle a projected supply gap at the Angola LNG facility.
Pipeline installation work at Chevron’s Tamar gas field will get under way in 2024.