Corporate week in brief Report

Insight 04 October 2024

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Report summary

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.

TotalEnergies’ 2024 Strategy & Outlook
Petrobras continues African growth with Orange Basin farm-in
TotalEnergies and APA reach FID on Suriname’s first deepwater project
TotalEnergies keeps growing in the Eagle Ford
Majors and NOCs advance US$3.6 billion worth of low-carbon projects
Northern Lights Phase 1 is ready for CO 2
FTC approval imminent for Chesapeake-Southwestern and Chevron-Hess deals
Diamondback expands Gulf Coast access with EPIC deal
Imperial Oil bets on a C$2.5 billion lithium project
Aramco builds LNG portfolio with increased stake in MidOcean
BP puts its US onshore wind business up for sale
Eni revises organizational structure
Diamondback Energy subsidiary acquires more Permian mineral interests
APA high grades Permian portfolio yet again
Corporate Strategic Planner: Oil & Gas 2025
PETRONAS announces Q2 results; themes from Asia Pacific's LNG leaders
Harbour Energy closes Wintershall Dea acquisition
ADNOC acquires a 35% stake in ExxonMobil's Baytown project
QatarEnergy's bright idea: more solar, more gas supply for LNG
TotalEnergies expands its solar position in India
OMV makes gas discovery in the Norwegian Sea
Chinese NOCs announce solid H1 2024 results
UK government won’t oppose judicial review on decisions to approve Jackdaw and Rosebank
QatarEnergy seals 15-year LNG deal with Kuwait
Ithaca and Eni UK combination on target
Eni gets PoD approval for Indonesia deepwater projects
PETRONAS celebrates 50 th anniversary with Kasawari start-up
Start-up at Eni and Energean's Cassiopea project in Italy
APA looks to high-grade Permian portfolio in rumored sale
Equinor adds to US offshore wind portfolio
Ecopetrol decides not to pursue Permian deal with Occidental
Corporate Resilience and Sustainability Indices (CoRSI) - Metals and Mining
Chevron's first oil from GoM 20-ksi Anchor
Arrow Energy sanctions Surat Gas project expansion
US Independents: Q2 2024 results summary
Glencore sticks with coal – what are the implications for oil and gas companies?
TotalEnergies withdraws from Pakistan’s retail market
Saudi Aramco publishes its H1 2024 results
Woodside Energy acquires OCI’s Clean Ammonia project for US$2.35 billion
US Independents Q2 results week 2
Chevron and ExxonMobil report Q2 results
BP and Shell's Q2 results
BP greenlights the Kaskida project in the Gulf of Mexico
TotalEnergies exits multi-tcf gas fields in South Africa
TotalEnergies expands in the African hydropower sector
Webinar: Why the NOCs should return to international business development
Eni, Equinor, Repsol, TotalEnergies Q2 2024 results
US Independents' H1 2024 earnings takeaways
TotalEnergies strengthens its European integrated power portfolio
Eni discussing multi-billion-dollar investment in Enilive with KKR
Occidental and Ecopetrol discussing stake in OXY’s CrownRock assets
Woodside Energy acquires Tellurian and Driftwood LNG
Shell and ExxonMobil’s Dutch JV NAM finally sells its offshore assets
Majors’ Q2 2024 results preview
Aramco acquires stake in Blue Hydrogen Industrial Gases
Chappal Energies acquires TotalEnergies’ 10% equity in the Shell JV in Nigeria
US Independents: Q2 2024 results preview
BP, Mitsui & Co, Shell and TotalEnergies join ADNOC's Ruwais LNG project
Shell takes FID at Manatee, Trinidad & Tobago
Devon Energy acquires Grayson Mill Williston assets
What is the implication for Shell to pause the construction of its largest biofuel plant?
Prax grows West of Shetland presence as TotalEnergies exits
Sempra and Aramco sign Port Arthur LNG Phase 2 supply and equity investment agreement
SM Energy buys XCL's Uinta Basin assets
Eni sells Alaska position to Hilcorp
Shell takes final investment decision on the Polaris capture and Atlas carbon storage hub projects
Strategic ventures in upstream
Webinar: Oil & Gas Corporate Strategic Briefing - June 2024
TotalEnergies and EnBW win latest German offshore wind tender
Equinor signs an agreement to develop CO 2 transport infrastructure in France
BP takes full ownership of bp Bunge, shelves other biofuels projects
Shell to acquire Pavilion’s LNG portfolio
Petrobras settles US$8.3 billion in tax disputes
TotalEnergies exits Brunei, sells to Hibiscus Petroleum
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
Talos sells its CCUS business to TotalEnergies
- 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
Santos latest to partner with ADNOC on CCS
- 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 142 images and tables including:

2024 spend by peer group – 1) by segment 2) legacy vs low carbon
Saudi Aramco's LNG portfolio*
Mid-Caps’ portfolio concentration
QatarEnergy solar power: development status v disclosed targets
Hedge positions
Enilive target financials
Enilive bio capacity target evolution
NAM and Tenaz production, Netherlands (post-deal, assuming closure)
Q2 2024 prices and margins: quarter-on-quarter and year-on-year comparisons
Shell upstream production in Trinidad & Tobago
Dry powder: Debt capacity to reach 40% net debt/book capital & EV/EBITDA (2024/25 consensus)
Global M&A – H1 2024
Petrobras: corporate cash sources and uses
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
Q1 prices and margins - quarterly and year-on-year comparison
Repsol targets for 2024-2027
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)