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 …
Exxon is Close to Buying Pioneer, the Deal Could be Worth $60 Billion
The largest American oil and gas company Exxon Mobil is close to reaching an agreement to purchase shale producer Pioneer Natural Resources Co., the transaction amount could be about $60 billion, The Wall Street Journal writes, citing sources. According to them, the deal could be concluded in the coming days, …
Court in the Netherlands Rejects Claims Against Minimum Gas Production at the Groningen Field
Dismissed lawsuits against the government’s decision to allow a minimum level of gas production at the Groningen field in 2023, despite seismic risks. This was reported on August 30, 2023 by the Netherlands’ highest court. The Court ruled: the government was guided by security concerns when it decided to limit …
Oil and Gas Production at Sakhalin-1 Reached the Level Before the Start of the Special Operation
Oil and gas production at the Sakhalin-1 project, where work almost completely stopped almost a year ago due to force majeure declared by the American operator ExxonMobil, has returned to the level before the start of Russia’s special operation in Ukraine, Governor of the Sakhalin Region Valery Limarenko said during …
First Gas Produced at Gorgon Stage 2 in Western Australia
Chevron said on Tuesday it has begun gas production from its Gorgon Stage 2 development project off the coast of Western Australia. The development expands the Gorgon project’s existing subsea gas gathering network, which exports LNG to customers across Asia and produces gas for the Western Australian domestic market, Chevron …
Shell Expects $2.4 Billion Loss in 2022 Due to Taxes on Energy Company Excess Profits
Losses for Q4 2022 alone are expected to be around $2 billion. Shell expects to incur approximately $2.4 billion in losses in 2022 due to the imposition of taxes on excess profits of energy companies in the UK and the European Union (EU). The information comes from Shell reporting. Company …