Official: Shell wants to exit Syria's al-Omar Oilfield, but US firms are interested in the sector.
Youssef qeblawi said that the head of Syria Petroleum Company Youssef qeblawi stated on Monday that Shell asked to withdraw its oil from the al-Omar field and transfer their?share to Syria’s state-owned operators, but that U.S. firms were interested in?the?country's energy sector.
JERA Nex BP will buy EnBW’s stake in UK’s Mona offshore Wind project
JERA Nex BP has announced that it will purchase its partner EnBW’s stake in Mona 'offshore wind project. It also signed a lease agreement with the British 'facility. This move follows a German utility EnBW's announcement that it would be taking a 1.2 billion-euro ($1.39…
EnBW cancels two UK offshore wind farms, incurring $1.4 billion in impairment
EnBW, the German utility, announced on Thursday that it would take a 1.2 billion euro ($1.4 billion) impairment charge for scrapping two British wind projects. This was a direct result of losing a UK offshore tender. In this week's record-breaking auction, the?two…
Viaro Energy's purchase of Shell and Exxon UK gas assets fails
Shell and Exxon Mobil halted the sale of natural-gas assets in Britain's Southern North Sea to a British oil producer, Viaro Energy. Shell announced this in a Wednesday statement. Shell stated that the conditions required to close the deal were not met because of changes in market and commercial conditions.
Exxon announces a decline in upstream profits for the fourth quarter
Exxon Mobil, the U.S. oil giant, said on Wednesday that lower crude?oil?prices may reduce its fourth-quarter?earnings? by $800 million to $1 billion. The price of oil fell 9.2% in the three-month period ending December 31 as geopolitical risk was outweighed by concerns over supply and tariffs.
US forces oil majors to invest heavily in Venezuela to recover their debts
Two people who were familiar with this outreach report that White House and State Department officials told U.S. Oil executives, in recent weeks, they needed to return to Venezuela and invest significant capital to revive the damaged industry in order to receive compensation for assets expropriated two decades ago by Venezuela.
Australian shares drop as miners and banks fall on holiday thin trade
Australian shares dropped on Monday. The final trading week of the year began on a quiet note as banks and miners led the losses. They eased from recent highs, as holiday turnover exaggerated movements across the market. Investors returned to the market after their Christmas and Boxing Day holidays…
FTSE 100 ticks down in shortened Christmas Eve Session
The FTSE 100 dipped on Wednesday as gains in homebuilders were offset by losses in healthcare during a shortened Christmas Eve session. The UK blue-chip FTSE 100 fell?0.1% to 0936 GMT. It has been trading in a sideways fashion since hitting a five-week-high?last Thursday following the Bank of England’s 25 basis-point rate cut.
Bloomberg News reports that Eneos, a Japanese company, is the leading bidder for Chevron Singapore's oil refinery stake.
Bloomberg News reported that Eneos, Japan's largest oil refiner, is leading rival bidders to acquire Chevron's stake in a Singapore refinery. The deal, however, could still be delayed, according to people familiar with the matter. The value of the refinery as a whole is estimated at $1 billion.
The new BP CEO has a long-lasting legacy at Australia's Woodside
Energy industry veteran Meg O'Neill was tapped by BP as the leader of a shake-up within the London-based oil giant. She made an immediate impression when she took over at Australia's 'Woodside Energy', securing a deal which doubled the production portfolio. Woodside's…
Wall Street Journal, December 18,
These are the most popular stories from the Wall Street Journal. These?stories have not been verified and we cannot vouch for their accuracy. Elliott Investment Management, an activist investor group, has built up a stake in Lululemon Athletica of more than $1 billion.
BP appoints Woodside's Meg O'Neill to be CEO following Auchincloss' abrupt departure
BP, a major oil and gas company, announced that it has appointed Meg O'Neill as its 'CEO', effective April 1, after abruptly removing 'Murray' Auchincloss. O'Neill is the first CEO to be appointed by BP from outside of the company, and the first female to lead any of the top five oil companies in the world.
The UK has exempted Egypt's Zohr Gas Field from Russian sanctions
The UK added Egypt's Zohr Gas Field, where?Russian oil giant Rosneft has a 30% stake? and London-based BP has a 10%?holding?, to a list that exempts Russia sanctions. In October, Britain and the United States sanctioned Rosneft, one of Russia's largest oil producers, for their role in financing Moscow's invasion in Ukraine.
Shell mergers chief Greg Gut quit after CEO blocked BP bid, FT reports
The Financial Times reported on 'Tuesday that Shell's head of mergers Greg Gut had left the oil giant after CEO Wael Sawan and top executives rejected an internal proposal to??buy rival BP? this year. Gut and the M&A Team pushed for a BP deal early this year. Andrew Mackenzie…
Venture Global responds to Shell's fraudulent claims in LNG arbitration
Venture Global responded late Tuesday night to Shell's legal challenge over the oil major losing an arbitration case involving liquefied gas cargoes. They rejected Shell's allegations of fraud and accused Shell of violating arbitration confidentiality. The legal documents…
Venture Global responds to Shell's fraudulent claims in LNG arbitration
Venture Global responded late Tuesday night to Shell's legal challenge over its loss in an arbitration case involving liquefied gas cargoes. The company rejected allegations of fraud, and accused Shell of breaching arbitration confidentiality. The legal documents filed…
Syrian president, Chevron discuss cooperation in oil, gas exploration, state news agency says
The Syrian state news agency reported on Tuesday that President Ahmed al-Sharaa of Syria met with representatives from U.S. oil giant Chevron and Syrian Petroleum Company in order to discuss the cooperation between the two companies for oil and gas exploration on Syrian shores.
Joint development of synthetic LNG by Tree Energy, TotalEnergies and Japanese firms in the US
PARIS, 2 December - French oil giant TotalEnergies, along with its partner Tree Energy Solutions, will develop synthetic methane in collaboration with Japanese companies Osaka Gas Toho Gas Itochu, at an American facility located in Nebraska. Osaka Gas and Toho Gas…
Gunvor's managers buy out Tornqvist's CEO as the company seeks to 'definitive re-set'
Torbjorn Tornqvist, the CEO of global commodity trading firm Gunvor, will sell his entire shareholding as part of a management buyout. This comes after the U.S. labeled the company the "Kremlin’s puppet" because it had previously been linked to Russia. Gary Pedersen…
Aramco signs preliminary US deal worth more than $30 Billion
Saudi Aramco, the oil giant, said that it signed 17 preliminary agreements with U.S. firms with a total potential value of over $30 billion during a trip to Washington by Saudi Crown Prince. In a press release, the company said that these projects include liquefied gas…