Companies

Morgan Stanley expects Brent crude price to rise to about $110 a barrel by md-2023, supported by demand recovery and continued supply tightness. “We remain constructive on oil prices driven by recovering demand with the reopening of China’s economy and the recovery of the aviation sector,” the US investment bank …

Saudi Aramco is in early-stage talks with potential equity investors that would help fund a huge $110 billion unconventional gas field development in the Kingdom, sources with knowledge of the negotiations told Bloomberg on Monday. Aramco is seeking investors to back the field development of Jafurah, the largest non-associated gas …

TotalEnergies on Monday said it was working towards exploiting its new Lebanon Block 9 offshore gas project from next year, adding that it would likely select the vendor for a new drilling rig in the the first quarter of 2023. “Pre-orders have also been placed with suppliers for equipment required,” …

France’s TotalEnergies will buy 19.4% of its shares from Russian energy giant Novatek for $3.7 billion, the company said. TotalEnergies will fire two of its representatives from Novatek’s board of directors and will no longer include income from its investment in Novatek in its financial statements. The move will also …

The world’s biggest oil producers are spending billions of dollars on fossil fuel projects that will only be needed if the world misses key climate goals, according to Carbon Tracker, a nonprofit think tank. Companies invested $58 billion in oil and gas projects in 2021 and 2022 that will only …

Chevron will officially assume control of an oil project in Venezuela this week, Bloomberg has reported, citing unnamed sources. The supermajor will process heavy crude at the Petropiar facility, called an upgrader, and then export it to refiners on the U.S. Gulf Coast after the Treasury Department granted Chevron an …

Amazon has announced its first wind-solar hybrid projects with Vibrant Energy. They will build 300 MW of renewables capacity at two sites in the Indian states of Madhya Pradesh and Karnataka. Upon completion, the projects will generate 1,163 GWh of clean energy, which is equal to the electricity needed to …

Qatar has agreed to supply Germany with liquefied natural gas under a long-term deal as the latter continues to seek alternatives to Russian pipeline gas supply. State-owned QatarEnergy signed deals with ConocoPhillips that will see deliveries of about 2m tons of LNG annually to Germany over 15 years, starting in …

The United States on Saturday allowed the country’s oil giant Chevron Corp. to resume “limited” extraction of natural resources in Venezuela and to export Venezuelan oil, after the Venezuelan government and the opposition alliance reached a deal to break the political stalemate. Chevron received a six-month license that authorizes the …

Saudi Aramco Base Oil Co., a unit of the state-owned oil producer, has received regulatory approval for an initial public offering in Riyadh, as the world’s biggest crude producer looks to list some of its subsidiaries. The IPO will consist of the sale of 50mn shares – a 29.7% stake …