(Oil Price) – This week, a private arbitration panel in London began hearing the arguments of U.S. supermajors ExxonMobil and Chevron regarding their rights to one of the world’s most lucrative oil projects. Guyana’s Stabroek block has an estimated 11 billion barrels of oil in place discovered so far by the consortium of ExxonMobil, U.S. Hess Corp, and CNOOC of China.
(Oil & Gas 360) – HOUSTON–(BUSINESS WIRE)– Cheniere Energy, Inc. (“Cheniere”) (NYSE: LNG) announced today that its subsidiary, Cheniere Marketing, LLC (“Cheniere Marketing”), has entered into a long-term Integrated Production Marketing (“IPM”) gas supply agreement with Canadian Natural Resources Limited. Under the IPM agreement, a subsidiary of Canadian Natural Resources Limited has agreed to sell 140,000 MMBtu per day of
(Oil Price) – The Trump administration will grant Chevron the right to keep its operations in Venezuela after its sanction waiver expires in June, Reuters and the Wall Street Journal reported separately, citing unnamed sources. According to the sources, Chevron would be able to retain its assets in Venezuela, but would not be able to export oil from the country to the United States.
(Investing) – LONDON/MOSCOW -OPEC+ agreed on Wednesday to establish a mechanism for setting baselines for its 2027 oil production, while OPEC+ sources said that separate talks on Saturday could agree a further accelerated oil output hike for July. The group, which includes the Organization of the Petroleum Exporting Countries and allies such as Russia, has been discussing new baselines – production
(BOE Report) – Energy major ExxonMobil has entered into exclusive negotiations with the French unit of Canadian energy group North Atlantic to divest its majority-owned French subsidiary Esso, it said on Wednesday. The sale is expected to take place in the last quarter of this year, at a price of 149.19 euros ($168.82) per Esso share before distributions, or 32.83
(World Oil) – South Africa has officially established its new state-owned oil corporation—South African National Petroleum Company (SANPC). The launch—which follows the merger of PetroSA, iGas and the Strategic Fuel Fund—signals the rise of an integrated oil company in South Africa, paving the way for greater accountability, efficiency and profitability in the country’s petroleum sector. The establishment of the SANPC
