Sources say Exxon is in advanced talks about returning to Venezuela's Orinoco Belt.
ExxonMobil has been in talks to return to Venezuela. The US energy giant is interested in the huge Petromonagas project, which was previously a part of the Orinoco Belt. It also showed interest in certain areas in the Carabobo Block. If finalized, a re-entry by Exxon into Venezuela would be a stunning?reversal?
Sources say that Chevron, KEO, ENI, and Primavera will sign energy agreements in Venezuela very soon.
Two sources close to the preparations say that oil?producers Chevron & ENI, as well as investors KEO Capital and Primavera will sign energy 'agreements' in Venezuela by Wednesday. The majority of these pacts are project expansions which have been in negotiations with…
Eneos' global ambitions are tested by the Japanese oil giant.
Eneos Holdings is a top Japanese refiner, with a large cash reserve and declining domestic demand. It's currently expanding its overseas footprint and testing its ability of managing assets and diversifying revenue sources. Eneos is looking to expand its fuel business…
TotalEnergies CEO: New exploration planned in Norway
TotalEnergies, the French oil giant, will appoint an exploration manager in Stavanger to examine new projects?in?the country. This was announced by its CEO on Norwegian TV on Monday. Patrick Pouyanne, speaking at the ONS Energy?conference held in Stavanger, said that the Norwegian continental shelf was a prolific basin.
Shell's Wild Coast exploration plan is blocked by South Africa's highest court
South 'Africa's Constitutional Court blocked Shell's offshore exploration along the 'country's' pristine Wild Coast on Friday, a'setback' for the oil giant after years of legal challenges from local communities and environmentalists. This ruling is just the latest…
Sources: Energean and Carlyle are among the bidders for BP's gas assets offshore Egypt
Three sources familiar with the process say that Dragon Oil, Carlyle Group, 'Energean' and Artemis Energy will be among a group of groups bidding this week on BP’s?West Nile Delta natural gas development off Egypt. British oil giant BP is trying to simplify its portfolio, reduce debt, and lower costs.
SABIC reports narrower quarter loss and revenue drops 18% due to disruptions in supply chains caused by the Iran War
Saudi chemicals giant SABIC reported on Wednesday a'sharply smaller second-quarter net loss, due mainly to the 'absence of large one-off expenses from last year. Revenue fell 18% as a result of war-related disruptions in supply chains. SABIC, which is 70% owned by…
TotalEnergies CEO: Arctic LNG 2 plant to be closed in Russia
* CEO: 'It is in the company's best interest. Patrick Pouyanne, the CEO of TotalEnergies, announced on Thursday that it would be selling its stake in Arctic LNG 2 in Russia. He told analysts on a call about the second quarter results that the transfer of Total's stake of 10% to Nordline…
First LNG cargo ships from TotalEnergies Mexico's Energia Costa Azul
PARIS, 'July 9,' - French oil giant TotalEnergies reportedly shipped the first liquefied gas cargo to Asia from a?plant called Energia Costa Azul in Mexico, although full commercial operations have not yet been achieved. Total owns 16.6% of the 3.25 million ton per year (mtpa), operated by Sempra.
China taps deep shale deposits in Sichuan to boost its gas production
Sinopec experts and industry consultants say that China is increasing gas drilling in deeper, more ancient shale deposits of the Sichuan Basin, which could increase domestic production by over a third before 2035. State oil giants, whose shale-gas output is below government targets…
Syria signss deal with ConocoPhillips and Novaterra to revive its gas production
According to a 'joint announcement, the Syrian Petroleum Company (SPC), U.S. based ConocoPhillips, and energy company Novaterra signed a 'deal' in Damascus, Tuesday, to develop new gas fields and increase production at existing ones. Syria's energy industry was ravaged…
Amanda Blanc, an independent director, is tasked by BP to head the search for the next chairman.
Ian 'Tyler, the BP interim chair said that BP had asked Amanda Blanc, a senior independent -director to lead the scouting for the next chairman. Tyler stated that "as with previous searches, this will be an intense process involving all members of the Board. The Financial Times was the first to report this news.
BP Gas and Low Carbon Chief William Lin to depart -memo confirmed as true by spokesperson
William Lin, BP's head of low-carbon gas and business, is preparing to leave as the oil giant reorganises. A BP spokesperson confirmed this after a Monday internal message was sent to thank Lin for his'services. BP CEO Meg O'Neill who was appointed in April told BP…
Sheinbaum: Pemex CEO Rodriguez to leave
Claudia Sheinbaum, the Mexican President, announced on Thursday that Pemex's CEO Victor Rodriguez will be stepping down. She said that she is nominating?Juan Carlos Carpio to replace him. On Wednesday, it was reported that Rodriguez's fate is uncertain due to his struggle to turn around Mexico’s embattled oil company.
ADNOC to promote shale oil and gas projects following UAE's OPEC withdrawal
ADNOC Abu 'Dhabi expects to reach a final investment decision on its unconventional gas with TotalEnergies 'this year, and approval of a separate unconventional petroleum project is expected to follow shortly, said its upstream chief. Musabbeh Al-Kaabi, the Upstream CEO of state oil giant ADNOC…
BP's CEO will simplify the company structure by dividing it into upstream and downstream units
Meg O'Neill will be the new CEO of BP, and she is the fifth head to lead the oil giant since 2020. She took over the role on April 1. The spokesperson confirmed an earlier Financial Times article about the changes. A BP spokesperson stated that there was no timeline set for the 'new structure.
TotalEnergies finds hydrocarbons near existing production sites in Congo
PARIS, '13 April - French oil giant TotalEnergies announced on Monday that it had found hydrocarbons in a drilling campaign to expand the Moho field off the coast of Republic of Congo. The well found a column of gas and oil measuring 160 metres. Total stated that the…
TotalEnergies reports damage to SATORP refinery after incidents
TotalEnergies, a French oil company, said on Friday that one of the SATORP refinery's processing train in Saudi Arabia was damaged by incidents that occurred during the night from Tuesday to Wednesday. The incident prompted TotalEnergies to shut the units down as a precaution.
Brazil's Raizen launches debt talks, eyeing asset sales
Two people involved in the negotiations say that Brazil's sugar and fuel giant Raizen has begun to discuss converting about 29 billion dollars of debt ($5.7 billion) into shares. This could clear the way for around 10 billion dollars worth of asset sales. The talks…
Fears of a prolonged Middle East conflict has caused most Gulf stocks to retreat.
The major Gulf stock markets dropped in the early hours of trading on Thursday, after Donald Trump said that the U.S. will continue to attack?Iran without indicating a definite end date. In a late-night prime-time speech, Trump stated that the U.S. was planning to…