Europe Wants to Find an Alternative to Russian Gas Imports in Algeria
Algerian state-owned Sonatrach will sign an agreement to develop a large hydrocarbon field with Chevron in the next few days, said Algerian Energy Minister Mohamed Arkab. According to him, another document is being prepared for signing with ExxonMobil. Agreements with Western companies will concern the development of new hydrocarbon fields …
Hess Oil and Gas Shareholders Approve Its Sale to Chevron for $53 Billion
Shareholders of the American oil and gas company Hess Corp. have approved its sale to Chevron Corp. for $53 billion, Hess said in a press release. The final results of the vote will be disclosed later. Chevron still has two hurdles to overcome before the deal can be closed: passing …
The President of Guyana Invited Chevron to Enter into a $150 Billion Oil Production Project
Guyanese President Irfaan Ali would welcome the entry of American Chevron Corp. into the capital of the operator of the Stabroek Block oil production project off the coast of the state. Ali told the Financial Times. Stabroek Block is one of the most “cash” deposits discovered in recent decades, the …
Guyana Welcomes Chevron’s Entry into Stabroek Project
Guyanese leader Irfaan Ali has a positive attitude towards Chevron’s possible entry into the Stabroek oil project, writes FT with reference to the President of Guyana himself. Guyanese authorities believe that Exxon’s growing stake in Stabroek Block threatens competition. That is, Chevron’s entry into the country through the acquisition of …
Oil and Gas Companies Pull Out of UK North Sea Sector Due to Tax Pressure
Oil and gas companies operating in Britain’s North Sea offshore sector are consolidating and moving overseas as Britain’s windfall tax cuts into profits and the opposition Labor Party threatens to increase taxes if it wins the next general election. This was reported by Reuters. A change in strategy could accelerate …
Chevron Will Leave the UK North Sea after More than 55 Years of Operation
American Chevron Corp. will sell its remaining oil and gas assets in the British part of the North Sea, where it has operated for more than 55 years, the Financial Times writes, citing a company statement. The decision follows a review of Chevron’s global portfolio to identify strategic and competitive …
Exxon and Chevron Are Ahead of European Rivals Due to Production in Guyana and the United States
ExxonMobil and Chevron are increasing production in some production regions, with oil becoming the driver of growth. ExxonMobil and Chevron forecast that their production in the Permian Basin will increase by 10% this year. Exxon also reported that oil production in Guyana in the first quarter increased by 70% compared …
Hess Has Decided on a New Field in Guyana
Has Hess decided to wrest Whiptail from Exxon? Hess has received approval for its sixth project in the Stabroek block, Whiptail, offshore Guyana. She enlisted the support of the country’s authorities. Already at the end of 2027, Whiptail’s capacity should increase by 250 thousand b/d. Resources at Whiptail are 850 …
Chevron Abandons Yadana Gas Field Offshore Myanmar
American Chevron left the Yadana field offshore Myanmar. This was reported by Reuters with reference to a company representative. Reason for leaving Chevron’s share in the project was 41.1%. The shares were not sold, the company distributed them among the remaining shareholders: – Thai company PTT Exploration and Production (PTTEP); …
Venezuelan PDVSA Chevron Joint Venture Launches New Drilling Plan
Petroindependentcia, a joint venture between Venezuelan state oil company PDVSA and US company Chevron, has begun a new drilling campaign, PDVSA said in a statement on Monday. The United States eased oil sanctions on Venezuela in October following an agreement to guarantee elections between the South American country’s government and …