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Corporate week in brief

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The Corporate Week in Brief report highlights the latest need-to-know events from the corporate global energy sector. It is a rolling document, continuously updated with our analysis and opinion on events impacting the sector. Coverage includes upstream, downstream, and new energies. Sources for the news stories include company press releases, industry events, press coverage, and our own research presentations and reports. Please bookmark this document as it will be republished continuously.

Table of contents

  • OMV Capital Markets Day 2024
  • ADNOC greenlights Ruwais LNG
  • Aramco signs 20-year HOA for Rio Grande LNG Train 4 offtake
  • PTTEP acquires Ghasha stake from Wintershall Dea
  • Woodside achieves Sangomar first oil for Senegal
  • Noble Corp to acquire Diamond Offshore
  • Why the NOCs should return to international business development
  • TotalEnergies strikes long-term green hydrogen deal as a buyer
  • TotalEnergies acquires a gas-fired power plant in the UK
  • Sheinbaum wins Mexican presidential election
  • Saudi Aramco eyes a stake in Repsol’s renewable power business as it looks to sell up to US$13 billion of shares
  • ADNOC awards stake in UAE concessions to SOCAR - a Lens snapshot
  • Marathon pace: ConocoPhillips runs its deal total even higher
  • Shell and BP exit South Africa refinery
  • Hess shareholders vote in favour of Chevron deal
  • European utilities’ Q1 2024 results round-up
  • APA exits the Eagle Ford
  • ADNOC acquires stake in Rovuma LNG from Galp - a Lens snapshot
  • ADNOC joins NextDecade’s Rio Grande LNG project
  • Shell shareholders back Energy Transition Strategy 2024
  • CNX Resources to set up a hydrogen and sustainable aviation fuel hub
  • ICYMI – Valuing ExxonMobil’s Pioneer synergy plans
  • Chevron considers UK upstream exit
  • President Lula swaps Petrobras CEO
  • US Independents: Q1 2024 earnings recap
  • Equinor strikes US lithium deal
  • Shell downstream disposals
  • Saudi Aramco announces Q1 2024 results; pressed on gas expansion plans
  • BP Q1 2024 results
  • ExxonMobil completes the acquisition of Pioneer
  • US Independents: Q1 2024 results recap - week 2
  • Trans Mountain pipeline expansion (finally) gets to the finish line
  • China’s NOCs announce Q1 2024 results
  • Shell Q1 2024 results
  • Eni, Equinor, Repsol, TotalEnergies Q1 2024 results
  • Chevron and ExxonMobil report Q1 2024 results
  • Woodside loses non-binding climate strategy vote
  • US Independents - Q1 2024 earnings season kicks off
  • Trident Energy makes a bold entry to Congo in deals with Chevron and TotalEnergies
  • Eni combines its UK upstream assets with Ithaca Energy
  • Galp puts stake in major Namibia oil discovery up for sale
  • TotalEnergies strikes a US renewable natural gas partnership
  • TotalEnergies acquires remaining 50% of SapuraOMV
  • TotalEnergies sanctions Marsa LNG bunkering project in Oman
  • TotalEnergies, RWE and CIP suffer blow to New York offshore wind projects
  • US Independents: Q1 2024 results preview
  • Benchmarking the Middle East NOCs against the Supermajors
  • SLB to buy ChampionX
  • Chevron announces investment in ION Clean Energy
  • TotalEnergies expands its battery storage position in Belgium
  • Chevron and Hess agree to extend merger timeline
  • Chevron launches new US$500 million technology ventures fund
  • The Majors’ Q1 results preview
  • EQT and Equinor swap acreage
  • Updated corporate profile for EQT Corporation
  • Aramco in the running to buy international LNG player as it pulls the plug on domestic rig contracts
  • Corporate CCUS benchmarking 2024
  • Repsol acquires a 40% stake in Spanish-integrated biomethane player
  • YPF looks to high-grade its conventional portfolio
  • Upstream capex hits negative territory
  • Repsol teams up with Bunge to secure feedstock for its growing biofuels production
  • US DOE announces US$6.3B in funding for industrial decarbonisation projects
  • China’s NOCs announce 2023 full-year results
  • Eni discusses UK combination with Ithaca
  • European utilities’ 2023 results round-up
  • Shell exits US offshore wind project, SouthCoast Wind
  • Iberdrola leans further towards networks in CMD 2024
  • Is the door opening to Kuwait’s offshore acreage?
  • PETRONAS urges caution with 2023 Q4 results
  • Webinar: Oil & Gas Corporate Strategic Briefing - March 2024
  • Bluefin discovery in the gassy southeast cluster of Stabroek block, Guyana
  • TotalEnergies - another Major with Lower 48 growth plans
    • TotalEnergies will accelerate decarbonisation of its US portfolio
    • Exiting CCUS allows Talos to focus on its bread and butter
    • The deal raises questions about small US Independents’ appetite for CCUS
  • TotalEnergies joins forces with seven partners in e-NG coalition
  • Chevron signs MoU to evaluate exporting CO 2 from Japan
  • Eni’s 2024 Capital markets update
  • Pemex seeks net zero for 2050
  • Aramco publishes annual results and confirms abandonment of its oil capacity target
  • Shell’s Energy Transition Strategy 2024 – nothing to see here
  • International E&Ps FY23 results round-up
  • ADNOC/BP deal with Israel’s NewMed Energy suspended
  • EQT (re-)acquires Equitrans Midstream
  • Webinar: Oil & Gas Corporate Strategic Briefing - March 2024
  • Petrobras withholding about US$9 billion in dividends
  • Eni announces Calao discovery in Côte d’Ivoire
  • Updated 2023 full-year results and corporate profile for Pemex
  • US Independents - Q4/2023 results recap & analysis
  • EQT curtails 1 Bcf/d through at least the end of March
  • SEC approves climate rules but drops Scope 3 requirement
  • ADNOC closes acquisition of 24.9% stake in OMV
  • US Independents' Q4 results - week three
  • ExxonMobil and CNOOC assert pre-emption rights on Hess’ Guyana equity
  • Ørsted appoints new CFO and COO
  • QatarEnergy launches 16 mmtpa North Field West Expansion
  • US independents' Q4 results – week two
  • Repsol's Strategic Update 2024-2027
  • Iberdrola and ENGIE Q4 2023 results
  • Woodside sells a further 15.1% in Scarborough LNG to JERA
  • US independents' Q4 results - some gas-focused takeaways
  • Eni reports 2023 results
  • ADNOC and BP to form new joint venture in Egypt
  • Aramco-backed MidOcean acquires stake in Peru LNG
  • The Majors: positioning in low-carbon energy
  • Mexican government to inject US$5 billion into Pemex
  • Diamondback Energy buys Endeavor for US$26 billion
  • Ørsted, Vattenfall and SSE report updates and earnings
  • West Coast consolidation begins?
  • Updated corporate profiles for PETRONAS and Occidental
  • Equinor reports 2023 results and extends guidance to 2035
  • TotalEnergies reports 2023 results
  • No deal: Woodside and Santos end merger discussions
  • BP reports Q4 results, updates guidance to 2025
  • Have upstream budgets hit a steady state?
  • Chevron and ExxonMobil report Q4 results
  • Shell reports Q4 results
  • TotalEnergies buys OMV’s Malaysian assets
  • Saudi Aramco abandons plan to raise oil production capacity
  • QatarEnergy corporate report: the world's biggest LNG producer is getting bigger
  • TotalEnergies acquires 200 EV charging points in Spain
  • CNOOC announces 2024 strategy
  • US Independents: Q4 2023 results preview
  • Ørsted withdraws from another US offtake agreement
  • Equinor and BP end US offshore wind partnership
  • Woodside and Santos report Q4 2023 results
  • Eni's Plenitude joins Spanish offshore wind venture
  • ADNOC ups its low carbon budget to US$23 billion
  • EDF’s UK nuclear costs mushroom
  • TotalEnergies boosts its US commercial offshore wind portfolio
  • The Majors' Q4 2023 results preview
  • TotalEnergies expands its European offshore wind and battery storage businesses
  • Saudi Aramco doubles investments in venture capital arm
  • Eni moves closer to FID on South Korean biorefinery
  • Glimmers of hope for Rio Tinto’s Jadar lithium project
  • Talos acquires QuarterNorth for US$1.29 billion
  • Shell agrees sale of onshore Nigeria business
  • BP appoints new (not new) CEO
  • Force Majeure called at Arctic LNG-2
  • Chesapeake to merge with Southwestern and create largest US gas company
  • TotalEnergies acquires more equity in Namibia’s giant Venus oil field
  • INPEX acquires additional stake in flagship Ichthys LNG
  • ADNOC acquires 10.1% stake in CCUS player Storegga
  • APA plus Callon lands flat
  • Chevron and ExxonMobil announce US impairment charges
  • QatarEnergy sells non-core assets in Brazil to Enauta
  • Equinor exits Azerbaijan
  • Harbour and Wintershall Dea combine
  • EIP buys into Eni's Plenitude
  • RWE buys 4.2 GW UK offshore wind development portfolio from Vattenfall
  • TotalEnergies sells-down stake in Seagreen offshore wind farm to PTTEP
  • Ørsted takes FID on giant UK offshore wind farm
  • OMV and Wintershall Dea’s Russian assets to be transferred to the Russian state
  • ADNOC buys out majority stake in low-carbon ammonia producer
  • ADNOC signs first sales agreement linked to Ruwais LNG
  • EDF and TotalEnergies target hydropower in Mozambique
  • Chevron is top spender at Brazilian auction
  • First offshore wind success in Asia for RWE
  • Equinor buys Shell out of Linnorm gas project in the Norwegian Sea
  • Aramco makes its first entry into Pakistan’s retail fuels market
  • COP28 launches the Oil and Gas Decarbonisation Charter
  • Santos and Woodside confirm A$80 billion merger talks
  • Chevron releases 2024 capex guidance of US$16 billion
  • Chevron and ExxonMobil keep eye on Venezuela after referendum vote
  • ExxonMobil’s increases investment and buyback guidance
  • Webinar: Oil & Gas Corporate Strategic Briefing – December 2023
  • BP takes full ownership of Lightsource BP
  • Petrobras unveils its 2024-2028+ strategy
  • Vattenfall spotlights energy transition prospects
  • Occidental reportedly in negotiations to buy CrownRock
  • RWE powers forward at CMD 2023
  • Equinor exits Nigeria
    • Orlen bulks up as KUFPEC exits Norway
  • Enel unveils leaner three-year plan
  • ExxonMobil sells its stake in Germany’s Karlsruhe MiRo refinery
  • President-elect Milei to shake up Argentina’s oil industry
  • Benchmarking the International E&Ps
  • ExxonMobil outlines plans to become a leading producer of lithium
  • UK offshore wind CfD price up 66%. Who might bid in AR6?
  • Repsol sells down 618 MW Spanish renewable power portfolio
  • KUFPEC set to exit Norway?
  • ADNOC corporate report: the beating heart of UAE's "Maximum Energy, Minimum Emissions" strategy
  • RWE and SSE report strong earnings
  • TotalEnergies acquires 1.5 GW of flexible power generation capacity in Texas
  • ExxonMobil exits West Qurna-1 in Iraq
  • Petrobras reports Q3 earnings and comments on Braskem sale to ADNOC
  • US Independents Q3 2023 earnings recap
  • BP rethinks Mauritania-Senegal LNG in blow to Kosmos
  • Oxy accelerating DAC ambitions with BlackRock partnership in Stratos
  • ENGIE and Enel report strong Q3 2023 results
  • Saudi Aramco confirms international LNG entry during Q3 results
  • US Independents Q3 results, week 2 – management commentary on M&A
  • EDP upgrades full-year profit guidance, maintains renewable project returns
  • Ørsted Q3 results include a US$4 billion impairment
  • Chinese NOCs production on track; CNOOC increases 2023 Capex in Q3
  • BP and Shell Q3 reported results
  • Chevron and ExxonMobil field questions on mega-deals during Q3 earnings calls
  • Eni, Equinor, Repsol, TotalEnergies Q3 2023 results
  • US Independents Q3 results – week 1 takeaways
  • Iberdrola and Vattenfall Q3 2023 results
  • TotalEnergies strengthens its integrated power business in Germany
  • TotalEnergies, RWE and CIP awarded offtake for US offshore wind projects
  • TotalEnergies brings in partners to 3 GW US offshore wind development
  • Chevron crashes Megamajor party with Hess deal
  • The Majors’ Q3 2023 results preview
  • US Independents: Q3 2023 results preview
  • QatarEnergy signs two 27-year LNG SPAs with Shell
  • Ørsted farms-down 50% of Gode Wind 3 offshore wind farm
  • SSE and TotalEnergies complete Scotland’s largest offshore wind farm
  • Recent corporate research: concentration, CCUS, and hydrogen
  • Saudi Aramco kick-starts the second phase of Jafurah Basin
  • ExxonMobil to acquire Pioneer for US$64.5 billion
  • BP 2023 investor update
  • Webinar: Benchmarking the NOCs on Resilience and Sustainability
  • Equinor starts-up world’s largest offshore wind farm
  • Kosmos hits oil in deepwater GoM
  • QatarEnergy signs long-term LNG SPAs with TotalEnergies
  • WSJ reports ExxonMobil close to Pioneer deal
  • ADNOC sanctions Hail and Ghasha: the largest FID globally in 2023
  • M&A Q3 review: NOCs returning to M&A?
  • Civitas announces second Permian deal in less than four months
  • Oxy and ADNOC partner on UAE DAC plant
  • Repsol’s 2023 ESG Day
  • Exploration success for Eni in Indonesia
  • Saudi Aramco corporate report: engineering a step-change in investment
  • Webinar: Benchmarking the NOCs on Resilience and Sustainability
  • Saudi Aramco enters global LNG business by acquiring stake in MidOcean Energy
  • PETRONAS partners with TotalEnergies in Angola
  • Equinor sanctions deepwater oil development in the UK
  • TotalEnergies’ 2023 Strategy & Outlook
  • ExxonMobil’s Product Solutions Spotlight
  • The Majors go big in the UK's 1st carbon storage license round
  • Equinor and Eni suffer Norway cost blow-outs
  • Aramco to enter into South America retail by acquiring Chile’s Esmax
  • TotalEnergies continues to strengthen its renewable power business
  • Chevron delays startup at Tengiz, increases stake in Utah clean energy project
  • Petrobras accelerates its wind energy strategy
  • TotalEnergies launches green hydrogen tender to decarbonize its industrial facilities
  • Woodside's Shenzi North comes online ahead of schedule
  • BP CEO resigns with immediate effect
  • Repsol diversifies its US renewable power portfolio
  • Repsol exits the Canadian upstream sector
  • Sinopec to start retail operation in Sri Lanka with a 20-year license granted
  • ADNOC sanctions the UAE's second CCUS project
  • Eni agrees to sell its Nigerian onshore subsidiary to partner Oando
  • ONGC plans US$24 billion net zero investment
  • Santos revises terms of PNG LNG sell-down to Kumul Petroleum
  • Shell sells home energy businesses in the UK and Germany
  • Ørsted shares slump on asset write-down warning
  • Chinese NOCs report production growth but lower net income in Q2 2023
  • Equinor joins Talos and Chevron in Bayou Bend CCS
  • Engie acquires Broad Reach Power, expands in US battery storage
  • Rising risk of labour strike at Australian LNG projects
  • Saudi Aramco backs GW-scale solar projects
  • Permian Resources acquires Earthstone, climbs into the large cap US E&P ranks
  • INPEX and TotalEnergies expand Australia gas footprint
  • Suncor’s CEO confirms a shift in strategic focus back to its core business
  • ADNOC Gas signs LNG supply agreement with JAPEX
  • Chesapeake completes its Eagle Ford exit
  • EQT finally set to close Tug Hill/XcL Midstream deal
  • Oxy's big DAC week
  • US Independents Q2 2023 results recap
  • Harbour exits Vietnam
  • Offshore wind earnings increase for Ørsted and RWE in H1 2023
  • EDF Renewables locks-in 7 GW solar PV module supply in US
  • LNG Japan buys 10% of Woodside's Scarborough
  • Saudi Aramco earnings slip; new free cash flow-linked dividend is confirmed
  • ADNOC acquires 30% in Absheron gas field from SOCAR and TotalEnergies
  • US Independents Q2 results – Week Two takeaways
  • BP Q2 results: earnings fall back to earth
  • ADNOC partners with Oxy on CCUS
  • Shell and BP make progress on UK CCUS projects
  • Euro Majors Q2 2023 results: earnings fall, but remain robust
  • European utilities results rebound on return to stability
  • Chevron and ExxonMobil report modest Q2 results
  • Eni buys IDD stake from Chevron, boosts Indonesian gas options
  • PERTAMINA, PETRONAS buy Shell's Abadi LNG stake
  • TotalEnergies boosts renewable power portfolio with Total Eren deal
  • Ørsted divests remaining stake in 630 MW London Array
  • Equinor buys renewable assets in Brazil
  • Takeaways from the "Big Three" service company results calls
  • US independents: Q2 2023 results preview
  • Vattenfall stops further development of major UK offshore wind project
  • Vattenfall and SSE report weak renewables power generation
  • Woodside and Santos Q2 reports provide mixed results
  • Webinar: Oil & Gas Corporate Strategic Briefing – July 2023
  • The Majors’ Q2 results preview
  • ExxonMobil to acquire Denbury
  • INPEX enters Australia renewables sector with Enel Green Power deal
  • Big Oil wins big in latest German 7 GW offshore wind tender
  • TotalEnergies finalises mega deal in Iraq
  • TotalEnergies achieves improved fiscal terms for Algerian projects
  • Is tax credit boost for Ørsted’s Ocean Winds I enough for FID?
  • ExxonMobil and Shell publish Q2 2023 update notes
  • ADNOC and OMV reportedly in talks to create a US$30 billion chemical giant
  • Sinopec begins production at scale-leading green hydrogen project
  • Few surprises at Pertamina's Investor Day 2023
  • Chevron and Bunge acquire Argentina seed business
  • ExxonMobil expands lithium plans
  • Rachel Schelble, James Whiteside and Dave Clark, 29 June 2023
  • Eni sells Congo oil assets to Perenco
  • TotalEnergies, PETRONAS and Mitsui announce Asia-Pac CCS hub
  • Denbury's CCUS business expands with two new deals
  • London breakfast briefing 2023: upstream, CCUS and corporate
  • Eni and Vår Energi carve up Neptune in US$4.9 billion deal
  • Equinor buys more US LNG from Cheniere
  • Civitas expands to the Permian
  • OMV Petrom takes FID on Romania’s Neptun Deep gas megaproject
  • QatarEnergy signs large long-term SPA including equity participation with CNPC
  • Chart of the week: US vs European valuation gap
  • Shell narrows focus, shrinks ambition
  • OMV invests in geothermal start-up Eavor
  • TotalEnergies strengthens its leading position in US LNG
  • TotalEnergies makes large oil and gas strike in shallow water Nigeria
  • Ørsted delivers buoyant offshore wind focussed CMD 2023
  • Eni Neptune deal back on? A Lens snapshot
  • ExxonMobil inks third US carbon capture deal
  • Harbour and Talos in merger discussions. A Lens snapshot
  • ConocoPhillips exercises pre-emption rights at Surmont
  • Petrobras begins its strategic pivot
  • ONGC launches decarbonisation strategy and sets 2038 net zero goal
  • Equinor delays Bay du Nord sanction, again
  • TotalEnergies strikes e-NG partnership with Tree Energy Solutions
  • SSE sees profits surge, upgrades growth targets
  • Carbon removal projects get a boost from advance purchase agreements
  • Tullow’s partners exit South Lokichar in Kenya
  • Chevron acquires PDC Energy for US$7.6 billion
  • BNP Paribas to cease financing of new gas field developments
  • ONEOK acquires Magellan Midstream in US$18.8 billion deal
  • US Independents – Q1 results round-up
  • Petrobras’ strategic shift comes to light in its Q1 earnings
  • RWE and ENGIE make impressive start to 2023
  • Equinor sanctions BM-C-33 in deepwater Brazil
  • Saudi Aramco increases dividend despite fall in Q1 profits
  • Shell formally announces exit from Cambo
  • Chinese NOCs grow production, reduce costs in 2023 Q1
  • US independents Q1 results – week two summary
  • Hydro recovery boosts EDP
  • BP, Equinor and Shell Q1 results
  • Ørsted reports good start to 2023
  • Shell sells stake in Browse to BP
  • TotalEnergies exits Canada with oil sands sale to Suncor
  • Earnings still strong at TotalEnergies, Repsol and Eni
  • Chevron and ExxonMobil reported mixed Q1 results
  • US independent Q1 results – week one summary
  • Vattenfall reports return to stability
  • EDF sales rise on higher prices
  • Devon announces strategic investment in geothermal
  • Strong Q1 for Iberdrola as renewables and hydro normalise
  • The Majors’ Q1 2023 results preview
  • US Independents' Q1 2023 results preview
  • NOCs: strategies for the energy transition in 2023
  • Rising cost of debt – implications for Lower 48 E&Ps
  • Webinar: Oil & Gas Corporate Strategic Briefing - April 2023
  • Back in Beijing: how will China’s NOCs address the energy transition?
  • EDF and CEIC plan China energy island
  • First Chinese company to enter giant North Field East
  • ConocoPhillips' 2023 Analyst & Investor Day
  • BP partners with Harbour Energy in Viking CCS
  • Considering an ExxonMobil-Pioneer Natural Resources tie-up
  • Iberdrola agrees to sell CCGTs in Mexico for US$6 billion
  • TotalEnergies’ Iraq Gas Growth Integrated Project (GGIP) is back on track
  • ExxonMobil’s Low Carbon Solutions Spotlight
  • Ovintiv buys three EnCap companies in Permian, sells Bakken assets
  • Glencore's Teck merger: a path to a clean break from coal
  • Chinese NOCs report mixed year-end results and outline plans for 2023
  • Chinese NOCs put a damper on upstream investment
  • Energy Transfer to Acquire Lotus Midstream
  • Saudi Aramco strengthens its position as a key supplier to China
  • BP and ADNOC offer to buy 50% of Israel's NewMed Energy
  • EIG & Brookfield confirm Origin offer; ConocoPhillips joins party
  • Rosneft FY 2022 results: sanctions start to bite
  • Eni announces 2 GW Italian offshore wind developments
  • RWE posts impressive FY 2022 results
  • TotalEnergies upgrades its emissions reduction targets
  • TotalEnergies strikes European retail deal with Canadian convenience store leader
  • ExxonMobil starts up its 250 kb/d Beaumont refinery expansion
  • Saudi Aramco reports record 2022, accelerates ambitious growth plan
  • Ørsted expands its Irish solar portfolio
  • TotalEnergies adds plastic recycling opportunity in France
  • ConocoPhillips' Willow project finally approved
  • PETRONAS set to spend on back of strong 2022 results
  • International E&Ps annual results round-up
  • Bayou Bend CCS expands into US onshore
  • EDP puts renewables growth at heart of updated strategy
  • TotalEnergies expands biogas portfolio with Polish acquisition
  • US independents Q4 results round-up
  • Equinor doubles down on pre-FID oil
  • Latam NOCs post strong Q4 earnings
  • OMV puts Asia-Pacific assets up for sale
  • TotalEnergies acquires CEPSA’s UAE assets
  • Chevron provides clarity but no big changes at 2023 Investor Day
  • BP announces plan for green hydrogen project in Spain
  • Record 2022 results for Australia's Santos and Woodside
  • Eni posts record results and updates distribution policy
  • L48 earnings solidify a 13% raise in E&P investments
  • US independents – peak week for Q4 results
  • Denbury – leading carbon-management-as-a-service
  • Chesapeake sells second Eagle Ford package for US$1.4 billion
  • EDF slumps to record loss
  • BP strategy update – leaning back from transition
  • BP acquires TravelCenters of America
  • New leadership and shifting strategies for Cenovus and Suncor in Q4 2022
  • US independents Q4 results - some early takeaways
  • Repsol boosts 2023 budget by 20%
  • Eni enters joint venture for new biorefinery
  • Capricorn and NewMed terminate merger
  • US Independents results preview – fashionably late to the Q4 reporting party
  • Chevron announces exit from Myanmar
  • The Majors’ Q4 results update
  • BP strategy update: a pivot towards more oil and gas production this decade
  • Capital budgets: tamer by the day
  • PETRONAS sells stake in Engen downstream and retail business
  • ExxonMobil and Shell Q4 2022 results
  • PETRONAS set to add Australian solar to renewables portfolio
  • TotalEnergies flips French renewable power assets
  • ConocoPhillips' Q4 2022 results and 2023 outlook
  • INPEX’s Eagle Ford project flies over to Repsol
  • Global upstream M&A: 2022 review
  • Eni sanctions US$8 billion gas development offshore Libya
  • Chevron reports drop in Q4 earnings but outlook remains strong
  • Activists successful in overhauling Capricorn board
  • ExxonMobil and partners make another discovery in Guyana
  • Hess posts strong Q4 results including new discovery in Guyana
  • Ørsted 2022 prelims include material impairment on US offshore wind project
  • Wintershall Dea to exit Russia
  • Chesapeake’s return to a gas-only portfolioalmost complete
  • The Majors’ Q4 results preview
  • Saudi Aramco acquires Motiva Trading
  • Capricorn merger with NewMed set for shareholder vote
  • Gas success for Chevron and Eni offshore Egypt
  • Ørsted ups its stake in Ocean Wind 1 in the US to 100%
  • 2023 guidance: upstream budgets up 15% year-on-year
  • LUKOIL exits Italian refinery
  • Talos Energy gaining dominance in the US GoM
  • Ørsted takes FID on its largest solar project to date
  • ExxonMobil continues downstream rationalization with Thai sale
  • 2023 guidance: upstream capital budgets and production targets
  • Traders exit Rosneft’s Vostok project
  • Equinor and RWE form hydrogen partnership
  • ExxonMobil to sell its Italian downstream business
  • ADNOC acquires stake in OMV from Mubadala
  • Chevron leads investment in Svante’s Series E funding round
  • Ørsted takes FID on Swedish e-methanol power-to-x project
  • Repsol acquires Asterion Energies to add 7.7 GW of renewables capacity
  • Chevron forms JV with Baseload Capital to explore geothermal
  • Shell wins tender to develop fourth Netherlands offshore wind project
  • Saudi Aramco and TotalEnergies green light world-scale petrochemicals expansion
  • PETRONAS to exit South Sudan
  • Shell sells Sarawak Shell stakes to Sarawak State
  • Denbury business outlook - a template for first mover advantage in CCUS
  • Corporate oil and gas: 5 things to look for in 2023
  • ADNOC leaning in to the energy transition
  • Vanguard withdraws from net zero climate alliance
  • Rosneft reports 9M 2022 results as EU oil embargo and G7 price cap kicks-in
  • ExxonMobil’s 2022 Corporate Plan
  • PERTAMINA targeting double IPO in 2023, in talks to acquire Masela stake
  • TotalEnergies takes another step closer to exiting the Russian upstream
  • Europeans dominate US floating offshore wind lease auction
  • Chevron releases 2023 capex guidance of US$17 billion
  • Eni boosts Italian renewables portfolio
  • Eni reportedly eyeing up Neptune Energy
  • Petrobras unveils its 2023-2027 plan
  • TotalEnergies sells its Dunga oil field stake in Kazakhstan and advances large onshore wind deal
  • Woodside Energy fails to excite with 2022 investor update
  • CCUS partnership to develop third party verification framework
  • Oxy to work with Enbridge to develop CO 2 transport and storage facilities
  • PETRONAS sanctions Kasawari CCS
  • Shell to acquire Nature Energy for US$2 billion
  • Enel sharpens strategic and financial focus
  • TotalEnergies and Air Liquide get creative in low emissions fuels strategy
  • Saudi Aramco continues downstream investment push
  • SSE profits surge, sticks to strategy, faces UK windfall tax
  • Gorgon CO 2 injections continue to fall short of nameplate capacity
  • Shell starts up flagship Pennsylvania development
  • Diamondback Energy acquires Lario Permian LLC for US$1.55 billion
  • Chevron and QatarEnergy announce FID on petrochemical facility at US Gulf Coast
  • Strategy update: Santos 2022 Investor Briefing
  • Ithaca Energy completes London IPO
  • Equinor delays Wisting
  • Iberdrola’s CMD 2022 shifts emphasis towards regulated assets
  • ExxonMobil’s 2022 Corporate Plan
  • Brookfield and EIG propose US$12 billion Origin Energy takeover
  • Chevron to explore hydrogen opportunities in US and Asia Pacific
  • CNOOC-ConocoPhillips dip toes in water with floating wind pilot
  • ExxonMobil reopens Kizomba treasure chest
  • US Independent earnings week 2 (out of 3)
  • Ørsted Q3 earnings buoyed by conventional assets
  • Marathon buys Ensign Eagle Ford assets
  • Oxy acquires land and pore space for CO 2 capture and storage
  • Aramco posts record cash flow from higher prices and volumes
  • Equinor expands in European solar with BeGreen acquisition
  • BP Q3 reported results
  • Brazil’s president-elect to shake things up in Petrobras
  • Euro Majors Q3 2022 results round-up
  • CNOOC shines on upstream, PetroChina and Sinopec held back by downstream
  • Chevron and ExxonMobil set quarterly cash flow records
  • US Independent Earnings - Week 1 recap
  • Ørsted and CIP form powerhouse offshore wind partnership in Denmark
  • TotalEnergies goes big on Brazilian renewables
  • Wintershall Dea acquires stake in offshore Mexico field
  • The Majors’ Q3 results preview
  • US Independents' Q3 2022 earnings preview
  • Material M&A to continue after bumper end to Q3?
  • Chevron joins partners to pursue hydrogen project at US Gulf Coast
  • BP accelerates biogas expansion with US$4.1 billion US acquisition
  • Continental Resources agrees to Hamm family take-private offer
  • Diamondback rattles the M&A trend with FireBird purchase
  • ExxonMobil strikes landmark carbon storage partnership
  • Third time's the charm for EIG's Australia LNG ambitions
  • How will companies get to net zero Scope 3 emissions?
  • Russia takes first step towards Sakhalin-1 expropriation from ExxonMobil and partners
  • OMV to invest in four solar parks in Romania
  • Wintershall Dea wins carbon storage license
  • Oxy investigating CCUS opportunities with Western Midstream
  • Ørsted decides not to bid in latest Taiwan auction
  • US acquisition a big deal for RWE
  • Repsol outlines its vision for 2050

Tables and charts

This report includes 124 images and tables including:

  • Drivers and appetite for International BD
  • APA Eagle Ford acreage map
  • SAF demand from all offtake agreements by region
  • Wood Mackenzie's production outlook for the Majors
  • Corporate Sustainability: 1) Benchmarking 2) Woodside Energy ratings weighted by Dimension
  • Portfolio strategic fit
  • Repsol targets for 2024-2027
  • Q1 prices and margins - quarterly and year-on-year comparison
  • 2024 vs 2023: upstream capital budget evolution by peer group
  • Projects selected through IDP use technology that is ready for deployment but high in capital need
  • Benchmark: capex
  • Benchmark: upstream production
  • Historic upstream capital investment by country
  • The location of Talos' CCUS projects and TotalEnergies' downstream facilities
  • Capital allocation (near-term)
  • Low-carbon spend per annum (near-term)
  • US Independents' 2023 cash flow waterfall
  • Disclosure timelines for companies
  • Repsol's six strategic pillars
  • 2024 vs 2023: upstream capital budget evolution by peer group
  • QatarEnergy rating vs. peers on selected CoRSI Sustainability measures
  • CNOOC Ltd Capex and production guidance
  • Capital allocation (2023 - 2027)*
  • Low carbon spend per annum (2023 – 2027)*
  • Quarterly and full-year price and margin comparison
  • Delaware Basin acreage
  • Midland Basin acreage
  • QatarEnergy: strategic fit of top international assets
  • NOC strategic positioning in wind and solar
  • Recent M&A and project sanctions (ADNOC)
  • The Majors' oil and gas production CAGR
  • Saudi Aramco’s downstream M&A since 2019
  • ExxonMobil's financial framework
  • Five-year corporate budget up 31%
  • RWE Capital Markets Day 2023 - accelerated plan
  • Equinor upstream portfolio: strategic fit of regions
  • Offshore wind projects with permits in place today
  • ADNOC rating vs. peers on selected CoRSI Sustainability measures
  • RWE core adjusted EBITDA 9M 2023 vs 9M 2022
  • West Qurna 1 net present value (post-tax)
  • Benchmark: net income change
  • Benchmark: upstream production
  • Q3 2023 prices and refining margins comparison
  • The Majors' global oil and gas production
  • Global M&A – Q3 2023
  • Repsol's renewable fuels competitive advantages
  • Repsol's new CCS targets
  • TotalEnergies' cash flow outlook
  • ExxonMobil's Product Solutions earnings potential
  • ExxonMobil's returns projections
  • Summary of awarded licences
  • CCUS next project capacity by Major*
  • South American fuel demand change by country
  • Petrobras' areas of interest for offshore wind
  • Brazil's population density map
  • Wood Mackenzie's projection of net renewable power capacity
  • CCS net project capacity by company*
  • ADNOC’s net CCS capacity by project
  • Net income
  • Capex guidance
  • Portfolio concentration of Majors and large cap E&P
  • Wind and solar: targeted operational capacity* (net or gross**)
  • Company size is an important factor in current market valuations
  • Quarterly sources and uses of cash for the US independents
  • RWE's H1 2023 core adjusted EBITDA
  • Ørsted's H1 2023 EBITDA excluding new partnerships
  • Chesapeake expectations for cost deflation
  • NOC-IOC cooperation is alive and well in the age of new energies
  • The Majors: net renewable power capacity
  • Ørsted funding programme 2023-30
  • Q2 2023 prices and margins – quarterly and year-on-year comparison
  • Capital investment committed under 19-13 Hydrocarbon Law
  • Benchmark: top 10 green hydrogen annual production under operation
  • Wood Mackenzie market premium to Wood Mackenzie upstream NPV
  • Ørsted’s 2023-2030 capex plan
  • NOCs’ energy transition investment guidance*
  • Q1 2023 oil and gas price and refining margin comparisons
  • Qatar's total LNG capacity in 2030
  • ExxonMobil's low carbon strategy
  • Net income
  • Production
  • 2023 vs 2022: upstream capital budget evolution by peer group
  • Permian Express Pipeline Utilisation
  • FY 2022 vs 2021
  • TotalEnergies' emissions reduction targets
  • Saudi Aramco's Strategy
  • Peer group cash flow, net debt and capex
  • Use of free cash flow*
  • 2023 guidance vs 2022 spend for upstream capital budgets by peer group
  • Q4 2022 earnings
  • Operating cash flow for the Majors that have reported Q4 results
  • 2023 guidance vs 2022 spend for upstream capital budgets by peer group
  • M&A activity 2022
  • Financial outlook for 2023
  • Q4 and 2022 oil and gas price and refining margin comparisons
  • The evolution of the Majors’ annual net income and operating cash flow and 2022 estimate
  • 2023 upstream capital budgets: top movers
  • Equinor and RWE form hydrogen partnership
  • ExxonMobil's strategy
  • Russian-related impairments in 2022
  • Five-year corporate budget up 14%
  • TotalEnergies - entitlement production in Kazakhstan
  • Use of free cash flow*
  • Renewables installed capacity outlook CMD 2022 vs CMD 2020
  • Networks asset base outlook CMD 2022 vs CMD 2020
  • US Independents: Q3 update to full-year capex guidance
  • Quarterly prices and margins comparison
  • BP's projected EBITDA growth from the Archaea acquisition
  • Net Zero Scope 3 Business Models
  • Breakdown of RWE’s total installed capacity:
  • Breakdown of RWE’s renewables installed capacity:
  • The economics of Bayou Bend (unleveraged)

What's included

This report contains:

  • Document

    Corporate week in brief

    PDF 18.22 MB