China’s CNOOC Steps Up Western Retreat with Launch of US Shale Sale
CNOOC has hired JPMorgan to advise it on a potential exit from its interests in U.S. shale gas assets, which could raise around $2 billion, the sources familiar with the matter said.
Indonesia Offers Four Blocks in Second Bidding Round This Year
The four blocks offered in the second round of bidding this year have combined estimated resources of 3,730 million barrels of oil and 300 Bcf gas, Indonesia’s energy ministry data showed.
China’s COVID Resurgence Delays Oil Demand Recovery, Analysts Say
Despite recent moves by Beijing to dial back some COVID restrictions, analysts see China’s reopening process as taking one step forward, and two steps back—fuel demand in the world's No. 2 oil consumer is seen unlikely to recover until after March 2023.
E&P Highlights (Nov. 21, 2022): 3M Gas Field Now Online
Here’s a roundup of the latest E&P headlines including new gas fields going online in Indonesia and elsewhere plus contract announcements for new projects from the past week in the upstream oil and gas industry.
Qatar Seals 27-Year LNG Deal with China as Competition Heats Up
The 27-year to supply China’s Sinopec with LNG is the LNG sector’s largest single sales and purchase agreement on record, according to QatarEnergy chief Saad al-Kaabi.
Oil Prices Retreat as Investor Sentiment Darkens: Column
"Investors had been steadily accumulating bullish long positions in petroleum, especially crude, expecting OPEC+ output cuts and the price cap to reduce supplies more than the economic slowdown reduces demand," columnist Joh Kemp shared.
China's CO2 Emissions Fall But Policies Still Not Aligned with Long-term Goals
While China has reached landmarks in implementing clean energy and electric vehicles, it is still behind in using cola-fired power, iron and steel.
Goldman Sachs Cuts 4Q Oil Forecast by $10/bbl on China 'Speed Bump'
Despite cutting its fourth-quarter 2022 forecast, Goldman Sachs kept its 2023 Brent forecast the same.
Energy Transition in Motion (Week of Nov. 18, 2022): Hydrogen Momentum; SLB Geothermal Deal
Here’s a look at some of this week’s renewable energy news including more partnerships focused on hydrogen and a geothermal agreement by SLB.
Osaka Gas Sees Likely Delay to Restart of Freeport LNG Plant
Due to Freeport LNG's shutdown, Osaka Gas cut its 2022 net profit forecast from 31.5 billion yen to 29 billion yen.