Business/economics
Nitzana will enable Israel to double gas exports to Egypt from the giant Leviathan gas field in the Eastern Mediterranean.
Nearly 90% of investment since 2019 has gone to replacing lost production, with $570 billion in spending projected for 2025.
Months of due diligence and evaluation following proposed $18.7 billion deal results in no deal to purchase Australian operator.
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Sale to Total was completed 10 November -
The new deal will focus on developing Arctic onshore blocks in a region where a successful LNG project already exists.
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Venezuela’s Oil Minister Tareck El Aissami said on 11 December that authorities had disrupted a plan to attack Venezuela’s 146,000-B/D El Palito refinery and had arrested two suspects in the plot.
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Shale-based associated gas production is behind the phenomenon. When oil prices do not support production, associated natural gas production also stops, with little to no consideration of natural gas prices.
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The supermajor said that it hopes to complete a megaproject in Kazakhstan before rerouting future spending to the Permian Basin and other developments.
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The move will give the new entity shareholding in PDO and remove PDO’s oil and gas expenditures from Oman’s state budget.
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Under the group’s historic April agreement, the easing of voluntary cuts would have been 2 million B/D, which would have been too much for markets to absorb.
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Sinopec recorded China’s highest daily output of shale gas at 20.62 million cubic meters (Mcm) at its Fuling shale-gas field in Chongqing, China, a key gas source for the Sichuan-East gas pipeline.
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Financial analytics company S&P Global and information provider IHS Markit announced they have agreed to merge in an all-stock deal that values IHS Markit at $44 billion.
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ExxonMobil has trimmed its future spending by more than 30% and said it will seek to divest from gas assets in the US, Canada, and Argentina.
