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Corporate week in brief

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06 February 2023

Corporate week in brief

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.

Table of contents

  • 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
  • Capricorn enters merger agreement with NewMed Energy
  • TotalEnergies unveils a new capital allocation framework at its Investor Day
  • Chevron signs geothermal collaboration agreement
  • Santos sells down stake in PNG LNG
  • TotalEnergies moves first to expand its LNG portfolio in Qatar
  • Eni's Plenitude enters new partnership to develop solar and wind projects
  • South32 halts greenfield coal to set Scope 3 net zero goal
  • Petrobras cancels yet another upstream sale
  • Gazprom and CNPC agreed payments using Russian roubles and Chinese renminbi
  • BLM approves Wyoming CCS storage
  • Eni to acquire BP’s Algerian assets
  • Tullow and Capricorn merger hangs in the balance
  • EQT executes US$5.2 billion bolt-on acquisition
  • Repsol announces landmark sell-down of its upstream business
  • Equinor advances European CCS
  • Malaysia taps bank of PETRONAS to support economic recovery
  • Woodside reports first post-merger financials
  • TotalEnergies to sell its stake in Russia’s Termokarstovoye gas condensate field
  • PetroChina and CNOOC Ltd. post record profits, Sinopec Corp held back by downstream
  • Eni and TotalEnergies strike gas offshore Cyprus
  • FERC allows Berkshire to increase its stake in Occidental
  • How is inflation impacting upstream budgets globally?
  • Santos releases record 2022 half-year results
  • Aramco posts biggest quarterly profit of any listed company
  • PetroChina, Sinopec to voluntarily delist from NYSE
  • Chevron rumoured to be entering offshore Namibia block
  • Ørsted raises FY 2022 guidance but expectations for offshore wind fall
  • Shell and Ecopetrol confirm Colombian offshore gas province
  • Devon Energy rings the bolt-on bell again
  • Record-breaking quarter for L48 E&Ps could mark a peak
  • Accelerating corporate decarbonisation through the Inflation Reduction Act
  • Sval acquires Suncor's Norway portfolio
  • APA Corporation acquires Permian acreage for US$555 million
  • Saudi Aramco to acquire Valvoline lubricants business
  • BP earnings soar but guidance holds
  • Euromajors Q2 results round-up
  • Chevron and ExxonMobil earnings smash previous records
  • US Independents Earnings – Week 1
  • Eni adds more volumes in Côte d’Ivoire and Abu Dhabi
  • Seven discoveries so far in 2022 on Guyana’s Stabroek block
  • US Independents Q2 2022 earnings preview
  • Shell and ConocoPhillips reportedly eyeing GoM disposals
  • NNPC begins life as a commercial entity
  • Expanded coverage...Corporate Resilience and Sustainability Indices (CoRSI)
  • Aker BP sets out decarbonisation plans and growth outlook
  • The Majors' Q2 results preview: a record-breaking quarter
    • ConocoPhillips partners with Sempra on US LNG
  • The wheels of Willow start turning
  • Petrobras signs its first sustainability-linked loan
  • TotalEnergies to exit Kharyaga oil project in Russia
  • ExxonMobil, Shell preview soaring earnings in Q2 2022
  • Berkshire Hathaway’s big bet on Occidental
  • Shell takes FID on Holland Hydrogen I
  • Shell joins Qatar’s giant North Field East LNG project
  • XTO Canada sold to Whitecap Resources for US$1.3 billion
  • Oxy’s low carbon subsidiary acquires pore space for sequestration hub
  • CNOOC, ExxonMobil and Shell sign CCUS MoU as NOC accelerates net-zero targets
  • Eni's Vårgrønn gets Dogger Bank, expands scope and ambition
  • Equinor and SSE acquire Triton Power, stepping up UK hydrogen ambitions
  • Shell acquires operated stake in Gulf of Mexico oil development
  • US shareholder returns continue to climb
  • Eni postpones Plenitude IPO
  • Chevron signs US LNG offtake agreements
  • ExxonMobil and ConocoPhillips selected as partners for Qatar North Field East LNG
  • Eni joins TotalEnergies in Qatar’s giant North Field East LNG project
  • Continental Resources founder offers to take the company private
  • BP takes 40.5% operated stake in the Asian Renewable Energy Hub
  • TotalEnergies initiates new Indian hydrogen drive with Adani
  • Trade sale failure drives BHP to accelerate thermal coal mine closure
  • Cenovus and BP swap oil sands for offshore
  • TotalEnergies secures a stake in Qatar’s giant North Field East LNG project
  • PetroChina charts course to a National Energy Company
  • Record downstream results expected in Q2, as refining margins soar and volatility boosts trading
  • Devon Energy adds bolt-on in the Bakken
  • Repsol unlocks ‘see through value’ for its renewables business
  • Chevron advances low carbon opportunities
  • Repsol reportedly in talks to sell 25% in its E&P unit
  • US Independents: cash flow framework
  • Tullow and Capricorn to merge
  • Cenovus and Suncor re-sanction the West White Rose project
  • Shell sanctions Crux to backfill Prelude FLNG
  • UK government introduces windfall tax; operators complain
  • Chevron announces new leadership structure
  • TotalEnergies makes its largest US renewables acquisition to date
  • Petrobras loses another CEO
  • Woodside shareholders approve BHP Petroleum merger
  • Chevron announces CCS project in California
  • ExxonMobil to sell its Barnett shale portfolio for US$750 million
  • Sinopec moves forward on green hydrogen
  • Oxy’s momentum continues
  • TotalEnergies expands US Offshore wind portfolio
  • Expanded coverage... Corporate Resilience and Sustainability Indices (CoRSI)
  • BP announces plans for Texas Gulf Coast CCS project
  • Aramco delivers record quarterly results
  • Shell announces first Russia disposal
  • 2022 AGM shareholder resolution votes on a different track than last year
  • Equinor sells US$1 billion Norway asset package
  • Canada oil sands Q1 recap - earnings top Cdn$9 billion; Suncor responds to Elliott
  • PetroChina Q1 earnings restrained due to price subsidies
  • US independents Q1 results week 2: budget bumps and climbing cash
  • BP, Equinor and Shell round out the Majors’ Q1 reporting season
  • Chevron announces proposed JV at US Gulf Coast CCS project
  • ExxonMobil exits Romania
  • Shell makes US$1.55 billion renewables acquisition
  • Buybacks increased as Majors’ earnings soar
  • US Independents Q1 Earnings: gas producers focused on supplying LNG expansion
  • Activist investor comes at Suncor
  • Strong Q1 for CNOOC Ltd., Sinopec Corp subdued due to downstream
  • ExxonMobil upgrades Stabroekreserves to 11 billion boe
  • Petrobras sells Albacora Leste to PetroRio for US$2.2 billion
  • CNRL hits Cdn$100 billion market valuation milestone
  • CNOOC triggers upper circuit breaker on Shanghai market debut
  • Offshore wind: Europe’s leading companies
  • Alekperov steps down from LUKOIL
  • Santos outlines new capital management framework
  • US Independents' earnings preview
  • The Majors’ Q1 results preview – a record quarter for free cash flow?
  • CNOOC homeward-bound with Shanghai IPO
  • LUKOIL CEO sanctioned by the UK
  • Upstream mergers and acquisitions activity slows in Q1
  • Excelerate Energy IPO debut highlights US LNG momentum
  • Murphy Oil reaches first oil at King’s Quay
  • Equinor adds to resource base in Norway heartlands
  • Euro Majors form new offshore floating wind partnerships
  • Suncor's wind stops blowing but 2050 net zero on track
  • Capital budgets for 2022 to grow 18%
  • EQT upgraded back to investment grade
  • Chevron enters carbon offsets markets
  • TotalEnergies and Sempra expand North American strategic alliance
  • Cepsa outlines ‘Positive Motion’ strategy to transform its downstream business
  • Chinese NOCs report a strong 2021, energy security dominates 2022 outlook
    • Ørsted boosts IRRs through farm-down of 50% stake in giant 1.3 GW Hornsea 2
  • SEC proposes mandatory climate-related disclosures
  • TotalEnergies outlines its vision for 2050
  • Storm damage at CPC Black Sea oil terminal highlights risk for Majors in Kazakhstan
  • Oxy Low Carbon Ventures Investor Day
  • TotalEnergies outlines new steps in Russia
  • Eni boosting gas, reducing emissions, increasing distributions
  • Aramco's earnings more than double
  • OMV announces new net-zero target and plan to transition away from oil & gas
  • Eni and BP finalise new Angolan JV
  • Eni targets energy transition with green SPAC
  • OGCI expands partnership to eliminate methane emissions by 2030
  • Shell announces its complete withdrawal from Russia
  • Continental Resources invests in carbon capture
  • Wintershall Dea responds to Russia-Ukraine conflict
  • ExxonMobil’s 2022 Analyst Day
  • Chevron’s 2022 Investor Day recap
  • Capital budgets solidify growth in 2022
  • ExxonMobil to exit Sakhalin-1 in Russia
  • PETRONAS back in black, going green
  • Record bids in US offshore wind lease sale
  • Chevron agrees to acquire Renewable Energy Group for US$3.15 billion
  • BP to exit Rosneft shareholding
  • What next for oil and gas companies present in Russia?
  • US Independent results advance shareholder returns
  • ExxonMobil high-grades in Nigeria with a US$1.6 billion deal
  • TotalEnergies announces a giant oil discovery offshore Namibia
  • TotalEnergies announces fifth oil strike offshore Suriname
  • Tullow contingent payments: nothing gained, nothing lost?
  • US Independents' Q4 results – week 1
  • Eni floats Var Energi and reports soaring earnings
  • Repsol finishes the year on a high
  • TotalEnergies delivers record cash flow
  • TotalEnergies walks away from the North Platte project
  • World first for Santos, includes CO 2 storage in 2021 reserves statement
  • Equinor Q4 results: buyback boost
  • INPEX returns to profit in 2021, updates transition strategy
  • TotalEnergies adds to its US renewables business
  • BP Q4 results: soaring earnings, strategy update and guidance to 2030
  • Pioneer reinforces fortress balance sheet commitment
  • Low-carbon and hydrogen industrial hub alliance
  • 2022 capital budgets strengthen uptrend
  • Shell makes huge oil discovery offshore Namibia
  • Shell Q4 2021 results: back on the front foot
  • ConocoPhillips Q4 2021 results: VROC and roll
  • ExxonMobilQ4 2021 results: roaring back
  • Ørsted delivers 2021 earnings in line with guidance but offshore wind struggles
  • ExxonMobil unveils corporate restructuring
  • TotalEnergies sanctions Uganda’s Lake Albert oil development
  • Petrobras sells Potiguar cluster for US$1.38 billion
  • Chevron reports best year of free cash flow in its history
  • Hess beats Q4 earnings expectations and raises ’22 budget 42%
  • Chesapeake Energy acquires Chief Oil and Gas for US$2.6 billion
  • US independents' Q4 results preview
  • The Majors’ Q4 results preview
  • Woodside and Santos ride LNG spot wave
  • Adapt to the energy transition or go out of business
  • ExxonMobil announces net zero ambition
  • Euro Majors boost UK wind portfolios
  • Woodside moves closer to first hydrogen project
  • TotalEnergies and INPEX high-grade in Angola
  • Equinor downgrades reserves at Mariner
  • Enterprise acquires Navitas Midstream in US$3.25 billion deal
  • CNOOC Ltd 2022 Strategy Preview: Roaring into the year of the tiger
  • ExxonMobil strikes European biofuels deal
  • Pioneer Natural Resources sends bullish price signal
  • Repsol beefs up its Marcellus gas portfolio
  • Two new discoveries at the Stabroek Block
  • Expectations for Chevron and ExxonMobil to ramp Permian
  • Aker BP buys Lundin Energy to create 'super' Norwegian independent
  • Rosneft targets net zero by 2050 and outlines strategy out to 2030
  • Majors and NOCs beef up their Brazilian pre-salt portfolios
  • Budgets seeing a massive uptick
  • Shell boosts solar business with acquisition of Savion
  • Suncor and Cenovus budgets rise in 2022, both expect modest growth
  • ExxonMobil and PETRONAS exit Chad and Cameroon
  • EQT joins the US Independent buyback party
  • Woodside 2021 investor update: strategic refresh after transitional year
  • Shell makes another Perdido discovery, deepwater GoM
  • Santos and Oil Search complete merger
  • Equinor buys into battery storage
  • INPEX acquires stakes in Dutch offshore wind projects
  • Harbour Energy introduces dividend
  • ExxonMobil fills in more blanks on its low carbon strategy
  • Aramco agrees US$15.5 billion gas pipeline monetisation
  • ConocoPhillips' 2022 budget and outlook
  • Introducing Corporate Resilience and Sustainability Indices (CoRSI)
  • Shell walks away from Cambo
  • Petrobras unveils 2022-2026 strategy plan
  • Chevron increases buyback programme and releases 2022 capital budget
  • Lundin Energy rumoured to be considering a sale
  • Equinor exits Ireland
  • BP planning green hydrogen project in the UK
  • Exploration success for Russians
  • ExxonMobil sets its sights on scaling up sustainable algae biofuels production
  • Eni names retail and renewables business "Pl eni tude" ahead of 2022 IPO
  • ConocoPhillips and TotalEnergies acquire Hess' stake in Libya's Waha concessions
  • Woodside green lights Scarborough LNG
  • COP26 turns up the heat on corporates
  • Euro Majors and utilities look to floating offshore wind
  • TotalEnergies and Apache deliver mixed E&A results in Suriname
  • ExxonMobil boosts GOM shelf acreage in a potential CCS-linked move
  • Cairn begins share buyback
  • Woodside brings GIP aboard Pluto Train 2
  • Aker and BP sell 5% in Aker BP through private placement
  • Tullow increases Ghana interest
  • ExxonMobil sanctions Chinese petrochemicals investment
  • Sinopec chooses hydrogen to decarbonise transport
  • TotalEnergies and Daimler Truck ink decarbonisation agreement
  • US EPA methane regulation proposal
  • Repsol sells down its first operational onshore wind project
  • YPF and Ecopetrol unveil upbeat results
  • Australia CCS activity building as Santos, Woodside unveil plans
  • US independents Q3 results recap
  • Shell Ventures announces US$1.4 billion fund for investment in transition
  • CNRL, Cenovus and Suncor deleveraging
  • Eni buys another stake in UK offshore wind farm from Equinor and SSE
  • ExxonMobil exits Romania
  • Continental Resources enters the Permian Basin
  • BP Q3 2021 results
  • ConocoPhillips Q3 2021 results
  • Majors' results round-up - Q3 2021
  • Shell facing pressure from activist hedge fund to abandon transition strategy
  • Aramco's earnings soar
  • Q3 Results: CNOOC and PetroChina rally on higher prices, Sinopec faces headwinds
  • Midstream consolidation: are private equity companies ready for the next pivot?
  • Pemex and Petrobras continue recovery in Q3
  • US independents Q3 results – week 1
  • Eni considering IPO of Vår Energi
  • Aramco announces net zero ambition
  • US Independents - Q3 results preview
  • ExxonMobil eyes up US CCS Expansion
  • COP26: the impact on oil and gas companies’ strategies
  • The Majors’ Q3 results preview
  • UK government announces first two CCS clusters to receive funding
  • Russia closer to net zero commitment
  • CNOOC Ltd’s first attempt at floating wind
  • Oxy sells Ghana assets for US$750 million
  • Qatar Petroleum rebrands as QatarEnergy
  • Chevron sets net zero ambition
  • ExxonMobil starts to scale up its advanced recycling operations
  • PETRONAS sells Shah Deniz stake to LUKOIL for US$2.25 billion
  • Eni launches renewables IPO process
  • ExxonMobil upgrades Guyana resources to 10 billion boe
  • Saudi Aramco puts timeline on oil capacity expansion
  • TotalEnergies an anchor investor in the world’s largest clean hydrogen infrastructure fund
  • TotalEnergies’ 2021 Strategy and Outlook
  • CNOOC doubles down on the world’s largest deepwater field
  • Rosneft to collaborate with Majors on carbon reduction
  • Shell sells ‘core’ Permian position to ConocoPhillips for US$9.5 billion
  • CNOOC to raise capital in Mainland China
  • OGCI group targets net zero
  • Vattenfall boosts energy transition goals
  • CCS in the Houston Area gains early momentum
  • Stakeholders lay out net zero standards for oil and gas
  • Tullow’s last hope in Kenya?
  • BP to partner ADNOC and Masdar on clean energy initiatives
  • BP brings in renewables big hitter to lead gas and low carbon energy business
  • US Independents delivering on debt reduction
  • Chevron increases commitment to new energies
  • Guyana resources edge closer to 10 billion boe with latest strike
  • Chevron makes multiple announcements ahead of energy transition call
  • ExxonMobil to certify Permian natural gas
  • TotalEnergies strikes major cross-commodity deal in Iraq
  • Beneficiaries of gas price rally separated by hedge books
  • CNOOC announces first offshore CCS project
  • Eni discovers a whale offshore Cote d'Ivoire
  • Shell announces big expansion of ubitricity EV charging network
  • Sinopec Corp’s first half profits soar, bets big on hydrogen
  • PetroChina hits record earnings on price and demand recovery
  • Heavy derivative losses continue for US producers
  • Chevron, BP and Imperial Oil accelerate renewable fuels investments
  • CNOOC Ltd’s profits soar on higher oil price
  • Alaska court blocks ConocoPhillips' Willow project
  • Woodside and BHP agree to merge oil and gas businesses
  • Ecopetrol buys stake in ISA for US$3.6 billion
  • Chesapeake acquires Vine Energy
  • Saudi Aramco profits surge
  • Santos and Oil Search merge to create Australia's new leading E&P
  • US independents Q2 results, week 2: hedging headwinds, but cash still delivered
  • Record Q2 profitability for Latam NOCs
  • Raízen IPO puts a US$6 billion value on Shell’s Brazilian biofuels business
  • ConocoPhillips Q2 results: post-Concho earnings soar
  • BP rounds out positive Q2 earnings season for the Majors
  • Majors’ Q2 results
  • US Independents Q2 results, week 1
  • Oil Search accepts Santos' revised merger proposal
  • TotalEnergies and Equinor withdraw from Venezuelan extra-heavy oil project
  • Pemex’s improved earnings still far from ideal
  • US Independents' Q2 2021 results preview
  • Motiva suspends US$6.6 billion petrochemical expansion
  • Santos proposes Oil Search merger
  • The Majors’ Q2 2021 results preview
  • Majors submit bids for Scottish offshore wind leases
  • ExxonMobil and Shell sign CCUS MoUs in the UK
  • First term contract for carbon-neutral LNG signed by PetroChina and Shell
  • New large scale carbon capture facility announced by Shell
  • TotalEnergies signs US$750m GLNG infrastructure agreement with GIP
  • TotalEnergies and ExxonMobil join forces with industry to evaluate a French decarbonisation project
  • More exploration success in Ghana for Eni
  • Eni continues new energies diversification
  • Sinopec announces first Carbon Capture and Utilisation project
  • LUKOIL acquires in Mexico in the country’s largest upstream deal
  • Global M&A: H1 2021 highlights
  • Equinor signs blue hydrogen MoU with US Steel
  • Shell, EDF and Ørsted awarded New Jersey wind contracts
  • Sinopec divests mature, non-core Argentine assets
  • CNOOC Ltd’s deepwater gas drive
  • Petrobras exits Brazilian retail for US$2.3 billion
  • ExxonMobil rationalises its petrochemicals business
  • EQT raises the bar on ESG strategy

Tables and charts

This report includes 105 images and tables including:

  • 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:
  • TotalEnergies' capital allocation framework
  • Talos and EnVen US GoM assets
  • Peer groups: change in capex guidance relative to realized 2021 spend
  • FY 2022 guidance change: breakdown
  • Colombia: offshore block operatorship
  • Q2 2022: sources and uses of cash
  • L48 change in capital expenditure guidances
  • Permian well type curves: APA Corp vs Titus Oil & Gas*
  • Stabroek net pay for discoveries
  • Q2 prices and margins
  • Weighted average operating cash margin (real), pre-production assets, 2025-2040:
  • North Field East JVs: net equity interest (%) and share of LNG capacity (mmtpa)
  • US deepwater Gulf of Mexico production by company
  • Low carbon hydrogen; projected gross output, based on proposed, identified projects
  • TotalEnergies' 2050 vision for production and sales
  • PetroChina low-carbon plan 3.0
  • Downstream earnings vs global refining margin
  • WoodMac base production forecast vs. Shell guidance for liquids and gas
  • UK upstream cash flow 2022: split of windfall between operators and government
  • Net renewable power capacity
  • Low-carbon hydrogen project pipeline by project status (risked*)
  • US Independents: change in capex and inflation expectations
  • Renewables portfolios
  • Q1 2022 hedging losses for gas-focused producers
  • Q1 2022 net income performance for Sinopec Corp and CNOOC
  • CNOOC share prices on Hong Kong and Shanghai Exchanges
  • 2022 hedge activity
  • Quarterly oil and gas prices and refining margins
  • The Majors' quarterly reported free cash flow
  • CNOOC Ltd. share price has underperformed
  • LUKOIL international portfolio NAV
  • Global M&A – Q1 2022
  • 2022 vs 2021: upstream capital budget evolution by peer group
  • Net Income
  • Capex
  • TotalEnergies' vision for 2050
  • Kazakhstan upstream NPV by company
  • Chevron 2022 Investor Day
  • 2022 vs 2021: changes in upstream capex by peer group
  • Price assumptions are inflating but remain >US$30/bbl below spot prices
  • Chevron - Renewable Energy Group
  • Russia upstream exposure: WM estimate of NAV and share of total upstream NAV in Russia
  • US Independent 2021 sources and uses of cash (US $ billions)
  • Hydrogen milestones from 2021 to today by alliance members
  • 2021 vs 2022: upstream capital budget evolution by peer group
  • The evolution of ExxonMobil's organisational structure
  • Petrobras: lifting cost evolution by resource theme
  • 2021 vs 2022: realized and guidance upstream capex for US-domiciled companies
  • CNOOC Ltd share price has underperformed relative to peers
  • Winning bids in Brazil's second surplus transfer of rights round
  • 2022 vs 2021: top 10 increases to upstream capital budgets
  • WoodMac estimates for net commercial renewables generation capacity
  • Santos & Oil Search combined portfolio
  • Shell Pre-FID portfolio: WoodMac modelling vs. Shell hurdle rates and expected average IRR
  • Highlights from ExxonMobil's Corporate Plan Update
  • Five-year budget up almost 25% but 2022 budget flat
  • Glasgow Financial Alliance for Net Zero* to finance the energy transition
  • Net income evolution for Latin American NOCs
  • Oil sands debt reduction
  • Gas production ratio of the total production
  • Net income evolution for Petrobras and Pemex
  • Quarterly oil and gas prices and refining markets
  • Repsol's upgraded low carbon ambitions
  • EV:trailing 12-month EBITDA multiple
  • TotalEnergies' Strategy Update
  • Top gas producers - percent hedged
  • 2021 estimated oil and gas derivative losses by operator
  • Majors new energy acquisitions
  • Net income evolution for Latin American NOCs
  • Adjusted earnings Q2 2021 versus Q2 2020 and Q2 2019
  • Summary of quarterly prices and refining margins
  • LNG carbon intensity and emissions per cargo (example cargo delivered to Japan)
  • M&A H1 2021 deal count by region
  • PBR divestment: cumulative deal count (2015 to present)

What's included

This report contains:

  • Document

    Corporate week in brief

    PDF 16.24 MB