Companies

French oil company TotalEnergies was awarded a 25 per cent stake to develop the world’s largest natural gasfield in Qatar as the Gulf state aims to increase its production and respond to higher global demand for LNG. State-owned QatarEnergy will hold the remaining 75 per cent stake in the North …

President Joe Biden on Friday slammed ExxonMobil for not producing more oil, as soaring gas prices deplete Americans’ wallets and the US leader’s popularity ahead of midterm elections. “Exxon made more money than God this year,” he said, advocating increasing taxes on oil companies. ExxonMobil reported massive profits in the …

An oil tanker chartered by Italian oil company Eni SpA to carry 650,000 barrels of diluted crude oil supplied by Venezuelan state-run PDVSA arrived on Friday in Venezuelan waters, according to a document from the state-run firm. The crude cargo will be the first for Eni following an authorization issued …

QatarEnergy and Chevron Phillips Chemical Company (CPChem) have announced awarding the early site works contract for the Ras Laffan Petrochemical Project (RLPP), marking the commencement of execution of the RLPP. Consolidated Contractors Company (CCC) has been selected as the contractor to undertake this work and was awarded a lump-sum contract …

Russian oil behemoth Rosneft PJSC promised record dividends on the back of soaring prices, but some foreign investors may struggle to access the payout. The board recommended 23.63 rubles a share for the second half of 2021, bringing full-year dividends to an all-time high of 41.66 rubles. That follows an …

Russia’s Gazprom has resumed shipping natural gas to Turkey after completing planned maintenance on the undersea Blue Stream gas pipeline, the Interfax news agency reported on Monday.

Russian gas producer Gazprom said on Sunday its supply of gas to Europe through Ukraine via the Sudzha entry point stood at 44.1 million cubic metres (mcm), up from 43.96 mcm on Saturday. An application to supply gas via another major entry point, Sokhranovka, was rejected by Ukraine, Gazprom said.

Italian energy giant Eni signed a memorandum of understanding on May 26 with Algeria’s Sonatrach to boost gas exploration in the north African nation, as Rome seeks to reduce its reliance on Russia. It was penned during a state visit by Algerian President Abdelmadjid Tebboune to Rome, a few weeks …

Equinor ASA has transferred its participating interests in four Russian joint ventures to Rosneft and is released from all future commitments and obligations, the company said in a release May 25. An agreement to exit the Kharyaga project has also been signed. Equinor began the exit process in late February …

Norwegian oil and gas giant Equinor has made a new oil discovery in Snøfonn Nord with the exploration well 7220/8-2 S, located by the Johan Castberg field development in the Barents Sea. This proximity to the current project development enables the tieback option, which will be considered by Equinor and …