Despite Exxon Mobil’s pledge to return approximately $30 billion via share repurchases and a nearly equivalent amount via dividends in 2022, some analysts highlighted at least one issue with the oil major’s plans.
The deepwater gas discovery reported by Ecopetrol and Petrobras offshore Colombia confirms the importance of the Caribbean region and increases the possibility for developing a new E&P frontier off northern South America.
Hess looks to further boost its production in the Bakken shale play and offshore Guyana in the second half of 2022 while also increasing its dividend and share repurchases.
Partners Exxon Mobil and Hess reported two new discoveries offshore Guyana at the Seabob-1 and Kiru-Kiru-1 wells, adding to the discovered recoverable resource estimate for the prolific Stabroek Block.
The IMF recommended governments to turn to fossil fuels only as a “stopgap measure” as the world teeters on the edge of a global recession, only two years after the last one, the institution said in its most recent blog post.
Cheniere affiliate, Corpus Christi Liquefaction LLC, signed a 20-year SPA with Thailand state-owned PTT, which developed, owns and operates Thailand’s first LNG import terminal.
The four-train Atlantic LNG liquefaction plant in Trinidad and Tobago continues to operate with just three trains as Train 1 remains inoperative.
Brazil’s Petrobras reported a 5.1% decline in combined production during the second quarter 2022 but still forecasts production will stay on track to average around 2.6 MMboe/d in 2022.
Mexico continues to tap U.S. gas producers for the lion’s share of the Latin American country’s total gas imports, albeit counter to nationalistic and self-sufficiency goals sought by Mexico’s President Andres Manuel Lopez Obrador.
Houston-based Cheniere signed a long-term sale and purchase agreement with PetroChina for an LNG supply deal with the Chinese company spanning 24 years.
