ADNOC, the UAE's gas company, has completed a $2.84 billion share sale.
Abu Dhabi National Oil Co. (ADNOC), the energy giant of United Arab Emirates, announced early Friday that it had completed a 2.84 billion dollar market offering for its ADNOC Gas division. ADNOC said in a press release that the offering price was 3.40 dirhams for each share.
Exxon to build large-scale gas projects in Guyana, a country dominated by oil
Exxon Mobil, the U.S. oil giant, announced a massive project on Wednesday to increase natural-gas production and supply in Guyana. This follows the government's request for more gas as fuel to power onshore projects and petrochemical ones. Alistair Routledge of Exxon Guyana…
Lightsource bp has secured 10 power purchases totaling 1.3 GW in the last 12 months
The firm reported on Wednesday that Lightsource bp - a renewable energy developer and a subsidiary of British oil giant BP - secured 10 power purchase agreement (PPA) in the last year, totaling 1.3 gigawatts of renewable energy capacity worldwide. Lightsource bp stated that the PPAs have been contracted in Europe…
Air Liquide and TotalEnergies invest over 1 billion Euros in green hydrogen projects
Air Liquide, a French industrial gas company, announced on Tuesday a joint venture with TotalEnergies, a French oil giant. The two companies will develop in the Netherlands two large-scale low-carbon hydrogen plants. Air Liquide said in a press release that the two…
Chevron is struggling to replace its oil and gas reserves amid uncertainty surrounding the Hess deal
Chevron’s oil and natural gas reserves are at their lowest level in more than a decade. This highlights the importance of its planned acquisition of oil producers Hess, which has been stalled by a legal battle with Exxon Mobil. Investors in energy companies use reserve replacement as a key metric.
Source: Elliott wants operational changes at Phillips 66 after acquiring a stake of over $2 billion dollars
A person with knowledge of the matter said that Elliott Investment Management, an activist firm, has acquired a stake worth over $2.5 billion in Phillips 66. The company plans to make changes to its operations to increase its stock price. The person who spoke to Elliott…
BP shares are at their highest level since August following Elliott's stake increase
In early trading on Monday, shares of oil giant BP rose 7%, reaching their highest level since August, following reports that activist investor Elliott Management acquired a stake in the firm, citing a reliable source. By 823 GMT the shares had risen 7.3% to 464.75pence, their largest daily gain since Febuary 2023.
Source: Elliott, an activist, has a stake in BP oil giant.
Activist investor Elliott Investment Management built a stake on oil major BP. A source familiar with this matter said that Saturday. The source didn't specify the amount at stake. Bloomberg News reported on Saturday that Elliott, a U.S. company, is trying to increase…
TotalEnergies exceeds expectations in the fourth quarter profit and signals a stronger 2025
TotalEnergies, the French oil giant, beat the expectations for its fourth-quarter earnings Wednesday. Higher trading profits on the gas market helped to offset the impact of low fuel prices and weak demand. The adjusted net income for 2024's final quarter was $4.4 billion.
TotalEnergies' fourth-quarter profits drop on low oil demand
TotalEnergies, the French oil giant, reported a 15% decline in its fourth-quarter earnings Wednesday. The company closed out a year that was marked by low oil and fuel prices. This was partially offset by increased electricity sales and trading of liquefied gas. The adjusted net income for 2024's final quarter was $4.4 billion.
Samsung E&A awarded a $1.7 billion contract by TA'ZIZ for the UAE's first methanol facility
Abu Dhabi's TA'ZIZ announced on Monday that it had awarded a $1.7billion contract to Samsung E&A for the construction of the UAE's 1st methanol facility. The plant is expected to produce 1.8m tons of methanol annually upon completion in 2028. TA'ZIZ is a joint venture…
Aramco's chief executive expects an additional oil demand of 1,3 million bpd in this year
Amin Nasser, the chief executive of Saudi oil giant Aramco, said that he believes the oil market is healthy and anticipates a demand increase of 1.3 million barrels a day this year. Nasser, speaking on the sidelines at the World Economic Forum, Davos, was answering a question about the impact of U.S.
Iraqi oil minister: Iraq and BP will sign Kirkuk oil deal in first week of February
Iraq and British oil giant BP will be signing a mammoth agreement covering four Kirkuk gas and oil fields by the 1st week of February. This was revealed by Oil Minister Hayan Abdul-Ghani during a trip to Britain. He said the deal would be bigger than a TotalEnergies 2023 Basra deal, which was valued at around $27 billion.
BP and Iraq agree on technical terms for redeveloping Kirkuk oilfields
The British oil giant BP announced on Thursday that it had reached an agreement with the Iraqi Government on the technical conditions for redeveloping the Kirkuk Oil and Gas Fields. In August, the company signed an agreement to explore and develop the Kirkuk oilfield located in the north of Iraq.
French and Benelux stocks: Factors to watch
Here are some company news and stories that could impact the markets in France and Benelux or even individual stocks. TotalEnergies French oil giant Total Energies has sold half of its shares in the UK's West Burton Energy Gas Power Plant to Epuki. Vallourec French…
BP's offshore Wind Head to Step Down
A spokesperson for BP announced on Monday that Matthias Bausenwein, the head of offshore winds, is leaving the firm. This comes after the oil giant announced its intention to spin off its offshore operations into a JERA-JERA joint venture. Bausenwein, who joined BP in August 2022 from the Danish renewables giant Orsted…
Total closing in on 2 bln euro deal for renewables developer VSB, Bloomberg reports
Bloomberg News reported that TotalEnergies, a French oil giant, is on the verge of acquiring renewable developer VSB Group. The deal will cost about 2 billion euro ($2,10 billion). TotalEnergies has declined to comment. VSB Group, Partners Group and TotalEnergies did not respond to comments immediately.
Exxon continues to discuss shallow-water blocks in Guyana's auction, the company reports
Exxon Mobil, the U.S. oil giant and its partners continue to negotiate with Guyana’s government about terms for developing an oil block in shallow water. An Exxon spokesperson confirmed this on Monday. Exxon Hess, CNOOC and Exxon won the offshore block S8 during a…
Petrobras bids for ships for Sergipe Deepwater Project
Petrobras, the state-owned oil company of Brazil, has announced a bid to purchase up to two offshore production vessels as part of its Sergipe deepwater project SEAP. The announcement was made in a late Friday securities filing. The floating production, storage, and offloading units (FPSOs) will be contract on a build…
Exxon consortium in Guyana produces 500 million barrels of crude oil
ExxonMobil, the oil giant, announced on Wednesday that it has produced 500 million barrels from Guyana’s offshore Stabroek Block since commencing production in 2019. Exxon, Hess, and CNOOC Ltd. are part of the Exxon-led group that is responsible for production in this South American country.
