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In 2022, Europe raced to fill gas storage with LNG imports; now its focus must turn to next year’s winter, top executives at Commonwealth LNG and Chesapeake Energy said Feb. 1 during a panel discussion at the NAPE summit in Houston.
U.S. oil giant Exxon Mobil Corp. reported earnings of $55.7 billion in 2022 and looks to continue growing production in the Permian and Guyana over the near-term.
Washington granted Trinidad and Tobago the right to develop Venezuela’s Dragon gas field in the first sign of a potential bilateral trade deal that could see Venezuela commercialize its strained offshore gas via idled LNG, methanol and ammonia plants in its neighbor’s backyard.
Chevron Corp. reported a positive uptick in oil production in Venezuela while Permian Basin production grew 8% year-over-year.
Dan Pickering, Chief Investment Officer of Pickering Energy Partners (PEP), discusses U.S. production and M&A after a “funky and weird” 2022 and sees the U.S. shale boom settling into a “shale business.”
Trinidad and Tobago’s Prime Minister Keith Rowley told attendees at the Trinidad and Tobago Energy Conference 2023 that the country’s petrochemical sector was undergoing major changes and needed to embrace a “greening” of the sector.
New York-based Hess Corp. announced a new discovery offshore Guyana and set its 2023 E&P capital and exploratory budget at $3.7 billion, of which more than 80% will be allocated to the Bakken and Guyana’s Stabroek Block.
Italian oil giant Eni SpA launched a €2 billion bond, its first sustainability-linked bond in the sector addressed to retail investors. Demand from over 300,000 investors exceeded €10 billion compared to the €1 billion initially offered.
Executives in the private equity space expect this year to be an active one for A&D and M&A activities, they concurred during the Independent Petroleum Association of America’s Private Capital Conference in Houston.
Wood Mackenzie expects Canada’s largest natural gas producers — Montney Shale producers Tourmaline Oil, Canadian Natural Resources (CNRL) and ARC Resources — to continue to grow their unconventional production in 2023 despite inflation pressures.