Asset Management
The London-based supermajor is stepping back from startup investing as it seeks to focus capital on its oil and gas business.
After a record year for LNG project approvals in 2025, multiyear repairs to war-damaged liquefaction facilities in Qatar and the UAE threaten to slow the growth of global LNG capacity.
The declaration builds on a memorandum of understanding the partners signed with Egypt in May to process Block 10 gas at the country’s LNG export and domestic gas facilities.
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The large independent joins the ranks of many other oil and gas producers who have been forced to reduce their exploration activity and the value of their booked reserves due to lower energy prices. -
The announcements are part of the company’s divestment strategy to reduce debt and improve capital.
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The world’s largest oil company saw profits fall by nearly three quarters during the previous quarter but it still weathered the storm better than international majors.
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Dugong could become a new North Sea production hub says offshore explorer Neptune Energy upon its latest discovery.
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The Gulf of Mexico E&P exited its first bankruptcy quickly with a strategy that included the acquisition of Noble Energy’s GOM assets, which increased its production volumes 25% when the WTI approached $80/bbl. Fieldwood’s financial woes in today’s economics may be tougher to overcome.
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Nearly 90% of geothermal capacity built since 2000 is binary cycle.
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ExxonMobil is reluctant to join other big oil companies writing down the value of their reserves. It could chop its reserves by 20%, but it has not made a final decision.
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The Pennsylvania-based producer will leave Louisiana where profiting from tight-gas fields has proven difficult and focus on its legacy assets in the Marcellus Shale.
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Supermajor announces actions to achieve net-zero ambition and reshape business. It also noted that it will not seek to explore in countries where it does not already have upstream activities.
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Citing impacts from COVID-19, Noble Corp. is entering into a prearranged agreement with its bondholders that will give it a fresh start with a new line of credit.
