Companies

Qatar Petroleum, along with several leading international LNG players, signed a multi-party agreement with LNT Marine, the American Bureau of Shipping (ABS), and Shanghai Waigaoqiao Shipbuilding (SWS) to collaborate on the development of new medium and large liquefied natural gas (LNG) carrier designs. The agreement paves the way for the …

The U.S. rotary rig count increased by six to 384 drilling units this week, Baker Hughes Co. (NYSE: BKR) reported Friday. In its weekly count of operating rigs Baker Hughes noted that all six of the additional U.S. drilling units are oil rigs, a subset that now totals 295. The …

Saudi Aramco, the world’s largest quoted oil company, could pay even more than the $75 billion per year it promised at the time of its initial public offering in 2019, according to new research from analysts at Bank of America. “We believe that dividend upside is also possible at higher …

Schlumberger New Energy, Chevron Corporation, Microsoft and Clean Energy Systems today announced plans to develop a ground-breaking bioenergy with carbon capture and sequestration (BECCS) project designed to produce carbon negative power in Mendota, California. The BECCS plant will convert agricultural waste biomass, such as almond trees, into a renewable synthesis …

ExxonMobil has announced that it will lay off nearly 300 employees by the end of this year in Singapore, as part of its effort to boost and sustain its long-term competitiveness. The impacted employees represent around 7% of the oil and gas major’s workforce of over 4,000 in Singapore. ExxonMobil …

Chevron Corp on Thursday said it had launched a $300 million fund focused on low-carbon technology, as traditional global oil and gas firms attempt to invest more in green energy and tackle climate change. Major energy firms have set targets to reduce greenhouse gas emissions or are exploring investments in …

Chevron Corp. launched a new $300 million fund on Feb. 25 aimed to address challenges facing the oil and gas industry in the so-called energy transition through investments in low-carbon technologies. The U.S. oil major hopes to build on the success of its previous fund, Future Energy Fund, which has …

Exxon slashed its oil reserves by almost a third in what is the most radical reserve revision in the company’s modern history. The supermajor reported reserves totaling 15.3 billion barrels as of the end of 2020 in a regulatory filing, cited by Bloomberg. This compared with 22.44 billion barrels a …

Russia’s largest independent natural gas producer and LNG operator Novatek has secured an LNG supply deal with China’s Shenergy Group. Novatek said on Thursday the deal is for a cumulative supply of over 3 million tons of LNG from the Arctic LNG 2 project over a 15-year term. The volumes …

Activist firm Engine No. 1, which has nominated four independent director candidates to the ExxonMobil board of directors, has sent a letter to Exxon claiming that it was falling short of what was expected regarding reaching climate goals set by the company. Engine No. 1 analysed ExxonMobil’s recent claims regarding …