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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As part of the $11-million deal, Kongsberg will establish a dynamic virtual representation of the plant, which serves as a gas processing and export hub for the Shell-operated Ormen Lange in the Norwegian North Sea. -
The round included a near-$1 billion signature bonus on a Campos Basin block awarded to a Total-led consortium.
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A month after it got out of Norway, Bloomberg reports that the company is working with advisers on a potential Malaysian sale, which could raise as much as $3 billion. ExxonMobil plans to divest around $15 billion in nonstrategic assets by 2021.
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Heavy deal-making since 2015 by the two majors has resulted in very different upstream portfolios.
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The SPE Annual Technology Conference and Exhibition is fast becoming one of the essential venues for the energy industry’s growing array of startups. All startups awarded a cash prize this year for the viability of their offering call Alberta home.
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As Oxy looks to divest billions in assets and focus more on its prime US shale fields, it sheds itself of the ISND and ISSD fields off the eastern coast of Doha. In announcing the lease loss last year, Oxy said the fields need significant infrastructural investment.
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Phase 1 of the North Sea megaproject—Norway’s largest offshore development since the 1980s—has come on stream. Johan Sverdrup is expected to produce 660,000 BOPD at its peak.
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EP Energy is now one of at least 200 North American exploration and production companies to have filed for bankruptcy since 2015.
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Dudley’s retirement will end an almost decade-long tenure in which he oversaw the company through the aftermath of the Macondo disaster and a generational oil-price slump.
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Speaking on the final day of ATCE 2019 in her home province of Alberta, Shauna Noonan unveiled the theme of her 2020 SPE presidency, “SPE Strong: Strengthen the Core.”
