New York-based Hess Corp. announced a new discovery offshore Guyana and set its 2023 E&P capital and exploratory budget at $3.7 billion, of which more than 80% will be allocated to the Bakken and Guyana’s Stabroek Block.
Italian oil giant Eni SpA launched a €2 billion bond, its first sustainability-linked bond in the sector addressed to retail investors. Demand from over 300,000 investors exceeded €10 billion compared to the €1 billion initially offered.
Executives in the private equity space expect this year to be an active one for A&D and M&A activities, they concurred during the Independent Petroleum Association of America’s Private Capital Conference in Houston.
Wood Mackenzie expects Canada’s largest natural gas producers — Montney Shale producers Tourmaline Oil, Canadian Natural Resources (CNRL) and ARC Resources — to continue to grow their unconventional production in 2023 despite inflation pressures.
France’s TotalEnergies announced the start-up of the Deutsche Ostsee LNG import terminal, operated by Deutsche ReGas and located in Lubmin on the German Baltic Sea coast, where it will contribute a floating storage and regasification unit (FSRU) and supply LNG.
An abrupt policy change by China’s President Xi Jinping regarding his zero-COVID policy could see the Asian giant adding 600,000 bbl/d to global oil demand growth in 2023 in addition to the country’s greater need for gas and LNG.
Glen Stancil, president and CEO of Merge Electric Fleet Solutions, discusses the electric vehicle industry and opportunities, as well as challenges to Merge’s business model gaining traction in one of the world's oil capitals: Midland, Texas.
Moody’s Investor Service is forecasting a 10% to 15% sequential uptick in upstream capex in 2023 and an overall strong year for the sector, with service companies likely to see increased demand for their services.
Venezuelan oil sector workers continue to earn salaries far from what their peers earn for the same work under arguably the worst working conditions imaginable.
QatarEnergy and an affiliate of U.S.-based Chevron announced an FID to construct the Ras Laffan Petrochemicals Complex, a $6 billion integrated olefins and polyethylene facility in Ras Laffan Industrial City.
