Chevron and Shell’s upstream portfolios are the most resilient at oil price at $30 a barrel and offer the highest cash margins at $70/Bbl, according to analysts at Wood Mackenzie. Tom Ellacott and the Corporate Analysis team at the consulting firm have studied the resilience of the seven oil and gas majors: BP, Shell, Chevron,
Read More...Mozambique’s national petroleum institute INP said on Thursday the country’s natural gas and liquefaction projects remain in line with the schedule agreed between the government and investing companies. INP’s chairman Carlos Zacarias told a press conference a day earlier that despite the suspension of activities in Afungi due to the Covi-19 pandemic, implementation activities for
Read More...U.S. District Judge William Young issued an opinion today on his March decision to remand Massachusetts Attorney General Maura Healey’s lawsuit against ExxonMobil to state court. While some environmental activists touted today’s issuance of Young’s opinion as “another loss in court for Big Oil” (despite the ruling actually taking place several months ago), this narrow
Read More...Saudi Aramco will sell up to 0.5% of its shares to individual investors in what could be the largest initial public offering in history, Kallanish Energy reports. The process begins Nov. 17, and closes on Dec. 4, the company said in its IPO prospectus, released last Saturday. The 658-page document comes almost four years after
Read More...President Trump said Sunday he’s interested in making a deal with ExxonMobil or another producer to tap Syrian oil reserves, Kallanish Energy reports. “What I intend to do, perhaps, is make a deal with an ExxonMobil or one of our great companies to go in there and do it properly … and spread out the wealth,” he
Read More...Jim WillisEditor & Publisher, Marcellus Drilling News (MDN) ExxonMobil is looking to do a cracker in Western Pennsylvania or environs and it could be in the same vicinity as Shell’s. Pennsylvania is still rising! Leave it to ace reporter Paul Gough from the Pittsburgh Business Times to unearth some earth-shattering news–that ExxonMobil is actively looking at locations in Beaver
Read More...As the October 23rd trial date approaches in the New York Attorney General’s (NY AG) lawsuit accusing ExxonMobil of misleading its investors on the risks that climate change poses to its business, the AG’s office is hard at work trying to prevent the company from obtaining discovery documents that could be crucial to its defense. After
Read More...New York Attorney General Letitia “Tish” James’s case Martin Act case against ExxonMobil is still in pre-trial hearings, but Justice Barry Ostrager is already losing patience. On Monday, at an initial hearing to discuss dismissing five of ExxonMobil’s defenses and other pre-trial motions, Justice Ostrager pushed the AG’s office to whittle down its lengthy witness
Read More...Iraq is planning a $53 billion megaproject with global energy giants ExxonMobil and PetroChina to use seawater from the Persian Gulf to boost oil production, Iraqi prime minister Adel Abdul-Mahdi announced Tuesday, Kallanish Energy finds. The project would boost output from Iraq’s southern oilfields, and includes plans to capture natural gas, which is currently being
Read More...Royal Dutch Shell Plc this week said it was leaving a U.S. refining lobbying organization in 2020 because the oil supermajor disagrees with the firm’s climate policy, Kallanish Energy learns. The oil giant, in its first review of its association with 19 industry groups, said it found “material misalignment” over climate policy with the American
Read More...ExxonMobil has held talks on the sale of a number of oil and gas fields in Nigeria, as the company focuses on developments in the U.S.’s Permian Basin and Guyana, industry and banking sources told Reuters. The potential sales are expected to include stakes in onshore and offshore fields and could raise up to $3
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