Marathon Petroleum CEO Calls Rumors of Neste Purchase 'Not Factual'
The CEO of Marathon Petroleum Corp. downplayed rumors that the Ohio refiner was interested in acquiring Europe’s Neste Corp. during a second quarter 2024 webcast with analysts.
Sempra Infrastructure Pushes Commercial Start Date of ECA LNG Into Spring 2026
Sempra Infrastructure pushed back the commercial operations date for Energía Costa Azul (ECA) LNG Phase 1, citing labor and productivity challenges.
E&P Highlights: Aug. 5, 2024
Here’s a roundup of the latest E&P headlines, including new oil discoveries and an implementation of AI technology in operations offshore United Arab Emirates.
Shell Targets Start of Canadian LNG Export Project in Mid-2025
Shell expects first production to flow from Kitimat-based LNG Canada in mid-2025, the company’s CEO Wael Sawan said Aug. 1 during the company’s second quarter 2024 webcast.
ArcLight Forms Renewables Management Team, Acquires Texas Wind Farm
Infrastructure investment firm ArcLight acquired a 160-megawatt wind farm, located in the Midland Basin.
Eni to Close Sale of Alaska Assets to Hilcorp by Year-end
Italian energy giant Eni SpA looks to close its divestment of its Alaska assets to Hilcorp Energy Co. by year-end 2024, to high-grade its upstream portfolio, according to Eni’s CEO.
CEO: Baker Hughes Lands $3.5B in New Contracts in ‘Age of Gas’
Baker Hughes revised down its global upstream spending outlook for the year due to “North American softness” with oil activity recovery in second half unlikely to materialize, President and CEO Lorenzo Simonelli said.
Pemex Hits Debt Target, Struggles to Reverse Production Declines
Pemex achieved its long-term debt target, which aimed to gets its financial obligations below the $100 billion, while struggling to halt production declines.
Tesla to Pause Plans for a Mexican Plant, Impacting Mexico's Nearshoring Appeal
Tesla, which announced plans in 2023 to build a $5 billion gigafactory in northern Mexico, is now pausing development activities until after the U.S. presidential election, its CEO Elon Musk said during the EV maker’s second quarter 2024 webcast.
Despite Slowing NAM Activity, Weatherford Declares First-ever Dividend
Weatherford reported a softer North America market but strong overseas growth, leading the company’s board to authorize its first share buyback program and first quarterly dividend.