Acquisitions & Divestitures , Trends , Mergers

Energy A&D Transactions from the Week of Nov. 30, 2022

Here’s a snapshot of recent energy deals including a $1.55 billion acquisition by Diamondback Energy in the Permian Basin and Shell’s nearly $2 billion RNG deal.

November 30, 2022

Liquefied Natural Gas , Trade , Exports

Scholz Welcomes Qatar LNG Deal as 'Building Block' for German Energy Security

In Berlin's pursuit for new energy partnerships away from Russia, QatarEnergy and ConocoPhillips will export 2 million tonnes per annum of LNG to Germany for at least 15 years starting 2026 through two sales and purchase agreements.

November 30, 2022

Exploration & Production , Acquisitions & Divestitures

Eni in Preliminary Talks to Buy Neptune Energy for $5-$6 Billion: Source

Neptune produces around 130,000 boe/d, three-quarters of which is gas. It has operations in Norway—home to Eni's Var unit—Britain, Indonesia—where Neptune shares licences with Eni—Algeria, the Netherlands and elsewhere.

November 30, 2022

Field Development , Legislation , International

Norway to Postpone Oil and Gas Licensing Round

The government, in power since last year and led by Labour Party Prime Minister Jonas Gahr Stoere, has pledged to “develop, not phase out” offshore petroleum production, Norway’s biggest industry.

November 29, 2022

Field Development , Deepwater

Equinor to Drill 25 Exploration Wells Off Norway Next Year

A “small handful” of wells will be drilled in the Norwegian and the Barents Seas each, Jez Averty, Equinor’s head of exploration and production in Norway, told Reuters on the sidelines of an energy conference.

November 29, 2022

Liquefied Natural Gas , International , Midstream

ConocoPhillips, QatarEnergy to Supply Germany with LNG Starting in 2026

ConocoPhillips and QatarEnergy signed two agreements to ship Qatari-produced LNG to Germany starting in 2026, helping to fill the energy supply gap created in that European country by reduced gas flows from sanctioned Russia.

November 29, 2022

Crude Oil , Trade , International

Russia has Lost Europe as Its Largest Energy Client ‘Forever,’ IEA’s Birol Says

When asked about the impact of the EU measures, IEA’s Fatih Birol said: “We expect towards the end of the first quarter 2023 that there may be a loss of 2 million barrels per day of Russian oil and there is a need to replace that oil.”

November 29, 2022

Crude Oil , Trade , International

EU Fails to Agree on Russian Oil Price Cap, Say Diplomats

The Group of Seven (G7) nations has proposed a softer version of the EU ban to keep oil supply to the global economy steady, because Russia supplies 10% of the world’s oil.

November 29, 2022

Exploration & Production , Technology

E&P Highlights (Nov. 28, 2022): Sinopec Shale Gas Discovery

Here’s a roundup of the latest E&P headlines including a new find in the Sichuan Basin and a flaring investigation in the U.K. North Sea from the past week in the upstream oil and gas industry.

November 28, 2022

Energy Transition , Acquisitions & Divestitures

Shell to Acquire RNG Producer Nature Energy in Nearly $2 Billion Deal

Shell’s deal is among several billion-dollar RNG acquisitions announced recently as companies look to lower their carbon profiles.

November 28, 2022