ExxonMobil makes a big move in the Permian: Corporate week in brief
Lead stories: ExxonMobil and Noble strike US$10 billion of Permian deals. Q4 results preview: we look ahead to a busy few weeks, anticipating more evidence of the shift from survival to growth. Macro: Brent stable; oil and gas shares lack direction. Companies: 2017 E&P budgets now up 10%; CNOOC and Lundin unveil double digit capex increases; Gazprom’s net income rises. Exploration: Statoil makes high-return incremental discovery in Norway; Tullow’s ninth Kenyan discovery boosts reserves to 800 mmbbl; jury still out on Shell’s Nova Scotia wildcat programme. Other: Statoil sells down UK floating wind pilot project.
Table of contents
Macro: Brent, oil and gas shares
Q4 results preview
Lead stories: ExxonMobil and Noble strike deals in the Permian