Markets , International , Energy Transition

Industry Survey: Energy Executives, Investors Tweak Transition Strategies

A survey report finds volatile market conditions and high fuel prices are driving the energy transition—differently than a year ago.

November 25, 2022

Business , Exploration & Production , International

US Prepared to Authorize Chevron to Boost Venezuela’s Oil Output

A U.S. authorization for Chevron to help rebuild the country’s sagging oil production was one of the biggest plums for bringing about talks between the Venezuelan government and its opposition.

November 23, 2022

Business , Exploration & Production , International

Britain’s Windfall Tax Risks North Sea Cash Flight, Output Drop

Energy giants Shell Plc and Equinor ASA said they were evaluating their investment plans after last week’s decision to raise tax to 35% from 25% to help plug Britain’s fiscal hole.

November 23, 2022

International , Shale Plays , Acquisitions & Divestitures

China’s CNOOC Steps Up Western Retreat with Launch of US Shale Sale

CNOOC has hired JPMorgan to advise it on a potential exit from its interests in U.S. shale gas assets, which could raise around $2 billion, the sources familiar with the matter said.

November 23, 2022

Exploration & Production , International

Indonesia Offers Four Blocks in Second Bidding Round This Year

The four blocks offered in the second round of bidding this year have combined estimated resources of 3,730 million barrels of oil and 300 Bcf gas, Indonesia’s energy ministry data showed.

November 23, 2022

Exploration & Production , Markets , International

Norway’s Oil, Gas Output Lags Forecast

Norway’s crude oil and gas output rose in October from September but lagged official forecasts, preliminary data from the Norwegian Petroleum Directorate (NPD) showed on Nov. 22.

November 23, 2022

Crude Oil , International

China’s COVID Resurgence Delays Oil Demand Recovery, Analysts Say

Despite recent moves by Beijing to dial back some COVID restrictions, analysts see China’s reopening process as taking one step forward, and two steps back—fuel demand in the world's No. 2 oil consumer is seen unlikely to recover until after March 2023.

November 22, 2022

Business , Exploration & Production , International

Shell to ‘Evaluate’ 25 Billion-Pound British Investments after Windfall Tax

“We’re going to have to evaluate each project on a case-by-case basis,” said Shell’s U.K. country chair David Bunch told the Confederation of British Industry’s annual conference in Birmingham.

November 22, 2022

Liquefied Natural Gas , International , Midstream

Germany’s LNG Terminals to Cost More than Double Earlier Estimate

Germany said the floating LNG terminals were essential for Europe’s biggest economy to compensate for a collapse in deliveries of Russian gas since Moscow’s invasion of Ukraine.

November 22, 2022

Investment , Field Development , International

Equinor, Partners to Invest $1.44 Billion in Arctic Gas Field

The water depth of around 1,300 m (4,300 ft) makes Irpa, previously known as Asterix, one of the deepest finds to be developed offshore Norway and the country’s fourth producing petroleum field north of the Arctic circle.

November 22, 2022