Companies

Adnoc has set out a plan to invest $15 billion into low carbon energy by 2030. The plan covers investments in clean power, carbon capture and storage (CCS), electrification of work and tackling gas flaring. Adnoc head Sultan Ahmed Al Jaber said the company would “fast-track significant investments into landmark …

The surge in oil and gas prices will translate into record-high 2022 earnings for the two U.S. supermajors, Exxon and Chevron, with their combined yearly profits hitting nearly $100 billion, analysts say. The two oil and gas giants benefited from the soaring price of oil and gas following the Russian …

UK-headquartered energy giant BP has completed the acquisition of Archaea Energy, a Texas-based renewable natural gas (RNG) company. Archaea Energy operates 50 RNG and landfill gas-to-energy facilities across the U.S., producing around 6,000 barrels of oil equivalent a day (boe/d) of RNG. Its production would be expected to provide an …

U.S. oil company Chevron Corp is sending two oil tankers to Venezuela, one of which will load the first cargo of crude destined for the United States in nearly four years, according to a person familiar with the matter and shipping data. On Friday, a Chevron-chartered vessel approached the South …

Gazprom’s natural gas exports this year have fallen by close to 50 percent to 100.9 billion cubic meters outside the former Soviet Union, Bloomberg reported this week, citing a statement by the giant’s chief executive Alexander Miller. This is the lowest since 2000, the report noted. The drop was the …

U.S. oil company Chevron has a tanker on the way to sanctioned Venezuela, where it will pick up a load of crude oil destined for the United States. The crude cargo will be the first Venezuelan crude oil shipment to arrive in the United States in almost four years, according …

US energy giant ExxonMobil has sued the EU to block the new windfall tax, which are levied on large profits of oil and natural gas companies. ExxonMobil argued that its challenge is only against “the counter-productive” windfall profits tax, and not any other elements of the EU’s package to reduce …

The company responsible for the construction of the Nord Stream 2 pipeline received a six-month stay of bankruptcy, shielding it from creditors, the AP reported, noting the stay will last from January 2023 to June the same year. The gas pipeline, which doubled the capacity of its twin pipeline Nord …

QatarEnergy and Japan’s Qatar Petroleum Development Company (QPD) have signed a new agreement for the continued development and production of the Al-Karkara and A-Structures oil fields in Qatar. This new five-year agreement, which commenced on December 23, succeeds the development and production sharing agreement signed in December 1997. Under the …

Shell Petroleum has agreed to pay €15 million ($15.9 million) as settlement to Nigeria over oil pipeline leaks in the country’s Niger Delta in the early 2000s. In a statement on Friday, Shell said it had negotiated the settlement for the benefit of the Oruma, Goi and Ikot Ada Udo …