A much-needed shareholder profile restructuring of the four-train 14.8 mtpa Atlantic LNG facility will not be effective until October 2024 but the facility continues to produce at sub-par levels amid a halted Train 1 and a scarcity of gas supply.
London-based BP Plc reported an underlying replacement cost profit of $27.7 billion in 2022 while reducing net debt to $21.4 billion and achieving an average return on average capital employed of 30.5%. In 2023, the company will remain focused on delivery of its financial frame underpinned by a $40/bbl balance point.
At the 30th annual NAPE summit, attendees were generally confident that energy M&A will accelerate in 2023.
At the 2023 NAPE summit, Chesapeake Energy CEO Nick Dell’Osso explained the reasoning behind the company’s Eagle Ford asset divestiture.
In 2022, Europe raced to fill gas storage with LNG imports; now its focus must turn to next year’s winter, top executives at Commonwealth LNG and Chesapeake Energy said Feb. 1 during a panel discussion at the NAPE summit in Houston.
U.S. oil giant Exxon Mobil Corp. reported earnings of $55.7 billion in 2022 and looks to continue growing production in the Permian and Guyana over the near-term.
Washington granted Trinidad and Tobago the right to develop Venezuela’s Dragon gas field in the first sign of a potential bilateral trade deal that could see Venezuela commercialize its strained offshore gas via idled LNG, methanol and ammonia plants in its neighbor’s backyard.
Chevron Corp. reported a positive uptick in oil production in Venezuela while Permian Basin production grew 8% year-over-year.
Dan Pickering, Chief Investment Officer of Pickering Energy Partners (PEP), discusses U.S. production and M&A after a “funky and weird” 2022 and sees the U.S. shale boom settling into a “shale business.”
Trinidad and Tobago’s Prime Minister Keith Rowley told attendees at the Trinidad and Tobago Energy Conference 2023 that the country’s petrochemical sector was undergoing major changes and needed to embrace a “greening” of the sector.
