INTERVIEW-Iraq's prime minister: Iraq can only disarm its factions when the US leaves.
Iraq has promised to put all weapons under state control, but this will not happen as long as a U.S. led coalition is in the country, which some Iraqi factions see as an occupier force, said the prime minister on Monday. The Prime Minister Mohammed Shia al-Sudani stated that a plan is still in place for the multinational anti-Islamic State Coalition to leave Iraq by September 2026…
INTERVIEW-Iraq's prime minister: Iraq can only disarm its factions when the US leaves.
Iraq has promised to put all weapons under state control, but this will not happen as long as a U.S. led coalition is in the country, which some Iraqi factions see as an occupier force, said the prime minister on Monday. The Prime Minister Mohammed Shia al-Sudani stated that a plan is still in place for the multinational anti-Islamic State Coalition to leave Iraq by September 2026…
QatarEnergy, ExxonMobil Executives Threaten European Exit Under Imposing Climate Regulation
Executives at two of Europe's top gas suppliers, ExxonMobil and QatarEnergy, on Monday warned they could stop doing business with the European Union if it does not significantly loosen a sustainability law that could impose fines of 5% of their global revenue.Exxon CEO Darren Woods told Reuters on the sidelines of the ADIPEC…
Exxon and QatarEnergy executives warn Europe of a possible exit due to climate law
ExxonMobil executives and QatarEnergy executives warned on Monday that they may stop doing business in Europe if the EU does not loosen its sustainability law, which could result in fines up to 5% of global revenue. Exxon CEO Darren Woods said on the sidelines the ADIPEC Meeting in Abu Dhabi, that the EU Corporate Sustainability…
ExxonMobil warns EU laws could force ExxonMobil to leave Europe
Woods is one of a growing group of energy producers who are urging European legislators to revise Corporate Sustainability Due Diligence, which mandates that companies operating in the EU identify and address risks related to human rights and the environment across their supply chain. Woods said on the sidelines at the ADIPEC…
ExxonMobil warns EU laws could lead to Exodus from Europe
ExxonMobil, the U.S. energy company, will be unable to do business in Europe if the EU does not loosen a law on sustainability that penalises companies with fines up to 5% of their global revenue. Woods has joined a chorus of energy producers outraged by the EU's law that requires businesses doing business within the EU to fix any human rights or environmental problems in their supply chain.
Amapa Governor: Brazil's Petrobras is studying a logistics base for Amapa
Clecio Liu, the governor of the Amazonian State of Amapa told reporters that Brazil's Petrobras had authorized studies to build a logistics centre in the state. Last week, the state-run oil company began exploring a promising offshore area. Luis explained that the company's Transpetro logistics subsidiary would do the studies.
Exxon-related jitters cause Mozambique international bonds to tumble
Mozambique’s only international bond fell on Thursday, after ExxonMobil executives cancelled abruptly a media appearance the day before with the president of the country. Investors said that the cabinet's approval of Alvarez & Marsal as a firm to help with a "public-debt restructuring" also alarmed some on the market. The bond fell more than three cents…
Trade executives say that global LNG demand will rise as new supplies lower prices.
Trading executives at the Asia Gas Markets Conference on Tuesday said that global liquefied Natural Gas (LNG), demand will rebound due to new supply entering the markets, which is expected to drive prices down and spur the interest of price-sensitive buyers. Mohammad Arif is the head of LNG Asia Pacific at Uniper. He said that demand would gradually develop…
Carbon Measures Global Accounting Group to Form Independent Panel
Carbon Measures will create an independent panel that will guide the work of this global carbon accounting initiative, according to its CEO. The group, which was founded a week earlier by ExxonMobil and other members such as BASF, Banco Santander and BASF, is aiming to develop a system of accounting to eliminate double counting and reward those who become more sustainable.
TotalEnergies, in partnership with partners, lifts force majeure on the $20 billion Mozambique Liquefied Natural Gas project
TotalEnergies, a French oil company, announced that it had lifted the force majeure for its $20 billion Mozambique Gas project with project partners. This comes four years after a militant Islamist attack halted construction. TotalEnergies' press officer confirmed that a letter was sent on Friday to the Mozambican Government.
ConocoPhillips will lay off Canada employees by November, a company memo shows
According to three sources, and according to a memo from the company, ConocoPhillips will be laying off workers at its Canadian operations as part of its plan to reduce its global workforce to up to one quarter by next year. The memo didn't specify how many layoffs were to take place, but it said that they would start at the Canadian operations of the company in the first week November.
Petrobras CEO: Production at Foz do amazonas could start in seven years
Magda Chambriard, Chief Executive of Petrobras, said on Tuesday that the Brazilian state-owned oil company could begin oil and gas production within seven years in the Foz do Amazonas Basin if the presence of large reserves is confirmed. Petrobras will drill an exploratory hole in Foz do Amazonas near the mouth the Amazon River. The drilling process should take around five months.
Equinor begins production in Brazil's Bacalhau Oilfield
Equinor, a Norwegian oil company, announced on Thursday that it had begun production in Brazil at its Bacalhau field one year after the original investment decision in 2021. Equinor said that Bacalhau, with recoverable reserves exceeding 1 billion barrels equivalent oil (boe), is the largest offshore field developed to date by Equinor.
Oil bosses are expecting the market surplus to diminish over time
Executives from oil majors, trading houses and oil companies said that the global oil market will tighten up in the medium-to-long term after recovering from its short-term weakness. Oil prices have been impacted by the rising output of OPEC+ – which is a grouping of countries that are members of the Organisation of Petroleum Exporting Countries (OPEC) and their allies – as well as other producers.
Oil executives warn of increased costs due to Trump's tariffs
Two oil executives warned this week about the impact of tariffs on the cost of energy production and investment decisions. TotalEnergies' CEO Patrick Pouyanne said at the Energy Intelligence Forum held in London on February 2 that tariffs on metals were driving up costs for LNG projects. Trump signed a proclamation in June that increased tariffs on imports of steel and aluminum to 50%.
Poll shows that the majority of Brazilians are opposed to oil drilling near Amazon coast
According to a Datafolha poll commissioned by Eko (a corporate accountability group), a majority of Brazilians think President Luiz inacio Lula da Silveira should ban oil exploration near the Amazon rainforest coast, which is a sensitive eco-system and Brazil's most promising frontier for oil. The survey was conducted early…
Wall Street Journal, October 3,
These are the most popular stories from the Wall Street Journal. These stories have not been verified and we cannot vouch their accuracy. - A multibillion-dollar deal to send Nvidia's artificial-intelligence chips to the United Arab Emirates is stuck in neutral nearly five months after it was signed, frustrating CEO Jensen Huang and some senior administration officials.
Eni signs second floating LNG unit off the coast of Mozambique
The Italian energy company Eni, along with its partners, signed off on a project on Thursday to build a floating platform for liquefied gas, Coral North, in the waters of Mozambique. This will make that country Africa's top LNG producer. In the capital of Southern Africa, Maputo, a signing ceremony attended by Mozambique's President Daniel Chapo…
In August, Kazakhstan's oil production and condensate output increased by 3% compared to the previous month
Official data released on Friday showed that Kazakhstan's oil production and condensate output increased to 8,885 metric tons from 8,631 metric tons in July due to the growth of Tengiz and Karachaganak oilfields. Calculations show that the August figure is equivalent to 2.150 million barrels of oil per day. Kazakhstan has reaffirmed…