Canadian Natural Resources anticipates higher production and lower expenditure in 2026
Canadian Natural Resources forecast on Friday a modest increase in production by 2026, while reducing total capital expenditures from the levels of this year. This signals a continued focus and disciplined growth. Canada's oil producers have fared better than their global counterparts during the oil slump, thanks to years of investment. They are now among the lowest-cost producers in North America. Canadian Natural, for example, has leveraged assets with a long life and low decline rate and capital strategies that are disciplined to maintain growth and high shareholder returns in weaker market conditions.
Auto stocks rise as European shares soar in focus of earnings season
European stocks rose on Monday, as investors digested the latest round of earnings reports. Auto shares also gained amid optimism that Dutch chipmaker Nexperia will resume China shipments. The pan-European STOXX 600 index rose 0.4%, to 574.11 by 0910 GMT. This is a rebound from the one-week-low hit last week. After a White House announcement that Nexperia news will be announced soon, auto stocks like Renault, Mercedes Benz, and Aumovio each gained more than 3.3%. Nexperia was recently taken over by the Dutch government, owned and operated by Chinese company Wingtech. This prompted Beijing, to stop Nexperia from leaving China.
Eni and Petronas combine Indonesian and Malaysian assets in joint venture
Eni, the Italian energy company, and Petronas, Malaysia's state-owned energy company announced on Monday that they had signed an agreement for a joint venture to combine their upstream oil assets and gas assets located in Indonesia and Malaysia. NewCo will manage 19 assets in Indonesia and Malaysia. It plans to invest $15 billion over the next five-year period to develop and explore about 3 billion barrels in discovered reserves. The agreement was signed in Abu Dhabi at ADIPEC. This move is part Eni's "satellite strategy" under which it has created several spinoffs around specific businesses…
Italgas announces investment plan for 2031 as it integrates Rete Gas 2i
Italgas announced on Thursday that it will invest $19.5 billion by 2031 to modernize its network and integrate 2i Rete Gas, the recently acquired competitor. The group announced a merger of 5.3 billion euros with 2i Rete Gas last year. It said that it expected the deal to bring efficiencies of up to 250 million euro by then, up from an earlier estimate of 200 millions. The company said that a digitalisation program for 2i Gas assets will generate additional revenues of more than 100 millions euros by 2031. This is up from an earlier estimate of 80million.
JERA, Japan's largest power generator, will buy US shale-gas assets for $1.5billion
JERA, Japan's largest power generator, announced on Thursday that it would acquire natural gas assets in the United States. This will be its first venture into shale-gas production. JERA announced that it had reached an agreement with Williams and GEP Haynesville II, pipeline operators in the Haynesville Shale Basin in western Louisiana. The agreement is for JERA to purchase 100% of their interest in the South Mansfield Gas Field. GEP Haynesville II, a joint venture of GeoSouthern, Blackstone and Williams, is supported by Blackstone.
US upstream oil and natural gas dealmaking falls for the third consecutive quarter amid low prices
Enverus, an analytics firm, said that the persistently low oil price kept buyers away from the sector during the third quarter. According to Enverus's latest report, merger and acquisition activity is down for the third consecutive quarter. This marks a dramatic departure from the blockbuster deals of recent years, such as Exxon Mobil's $60 billion deal with Pioneer Natural Resources, which will close in 2023, and Chevron’s $53 billion purchase by rival Hess this year. Enverus reports that the total value of deals in 2023 was a record-breaking $192 billion. This figure dropped to just $105 billion by 2024. U.S.
Eni will launch a joint venture with Petronas Gas in 2026
Guido Brusco said that Eni's gas joint venture will be up and running by the end of next year. He is the chief operating officer for global natural resources at Eni. Both companies announced in January that they would be moving forward with the project of developing gas assets in Malaysia, Indonesia and other countries. Petronas said it could take up to two years for regulatory approval, but the exact timeline was unclear. Brusco, speaking at a London industry conference, said that the project would produce 300,000 barrels of oil equivalent per day (boe), and plans to increase to 500,000 boe.
Occidental CEO: Chemical divestiture to improve core oil and gas business
CEO Vicki Hollub said in an interview with the Associated Press on Thursday that Occidental Petroleum would be better positioned to invest in the core oil and natural gas business following the divestiture of a chemical unit. The company will also be able replace the cash flow lost from the division within two and a quarter years. Occidental shares fell more than 7% after Occidental announced earlier that day that they would sell their OxyChem division to Warren Buffett’s Berkshire Hathaway unit for $9.7billion and use the money to pay down debt. Some analysts pointed out that the division is expected to drive future growth.
TotalEnergies sells 50% of its North American solar portfolio and invests in U.S. Gas assets
TotalEnergies said it would sell half of its North American solar portfolio for $950 million in a deal announced on Monday. It also stated that it plans to invest in US gas-producing assets, which will help it secure future supplies. The sale of the stakes is in line with the strategy of the French oil giant to develop renewable energy projects, then sell them to raise cash to invest in its natural gas portfolio. The company announced that it would receive $950 millions from the sale of its assets to investment firm KKR, as well as a refinancing by a bank.
Sempra Sells 45% Stake in Infrastructure Unit, Approves Port Arthur LNG Expansion
Sempra said on Tuesday it would sell a 45% stake in its infrastructure unit for $10 billion, and has approved a $14 billion expansion of Port Arthur LNG project in Texas, sending the utility's shares to their highest in nearly seven months.The stake sale to KKR, along with Canada Pension Plan Investment Board, implies an equity value of $22.2 billion for Sempra Infrastructure Partners, which houses liquefied natural gas assets and related pipeline and storage infrastructure.A KKR-led consortium will hold 65% of the unit…
Sempra sells 10 billion dollars stake in infrastructure unit and approves Port Arthur expansion
Sempra, a U.S. utility company, announced on Tuesday that it would sell its infrastructure unit to a third party for $10 billion. It also approved a $14 billion project expansion in Texas at Port Arthur LNG. The company is selling a 45% stake in Sempra Infrastructure Partners to KKR, Canada Pension Plan Investment Board and other investors. Sempra Infrastructure Partners owns liquefied gas assets, pipelines and storage facilities. Private equity firms are rushing to buy power infrastructure assets, as electricity consumption reaches record levels. This is primarily due to data centers that run AI operations and domestic usage.
JERA in Talks to Buy $1.7b of US Natural Gas Assets
Japan's top power generator JERA is in advanced talks to buy natural gas production assets in the U.S. for around $1.7 billion, people familiar with the matter said, the latest example of the Asian nation investing in America's energy sector.JERA emerged as the top bidder for the assets owned by GEP Haynesville II, a joint venture between Blackstone-backed GeoSouthern Energy and pipeline operator Williams Companies, after banks solicited offers in recent weeks, the people said, asking not to be identified because the discussions are private.The deal would mark JERA's first foray in shale gas production…
Al Mansour Holdings, Qatar, bets on Zimbabwean energy in a deal with Australia's Invictus
Al Mansour Holdings, a Qatari investment company, has acquired a 19.9% stake of Invictus Energy in Australia and will contribute up to $500m to the development of the Cabora Bassa Gas Project in Zimbabwe. The equity stake acquired for A$37.8m ($24.56m) will be used to fund short-term projects, including drilling the Musuma-1 priority well. Al Mansour Holdings will form a joint-venture with Invictus called Al Mansour Oil & Gas. This venture will be led by Sheikh Mansour Bin Jabor Bin Jassim Al Thani. It will acquire oil and natural gas assets in Africa.
Sources say that Raisa Energy is selling US oil and gas assets worth $1.5 billion, according to sources.
People familiar with the matter say that Raisa Energy, a private investment firm, is selling an oil and gas package across several U.S. Shale basins. The package could fetch up to $1.5 billion. These sources, who asked not to be identified because the process was confidential, said that the sale is still in its early stages and that the final price may fluctuate depending on the market conditions and other variables. TPH, a boutique advisory firm Perella Weinberg Partners' energy-focused investment bank, advises Raisa in this effort, according to the statement. Raisa declined to comment on a request for a statement.
Eni CEO: Italy's Eni is considering increasing the share buyback.
Claudio Descalzi, the chief executive of Italian energy company Eni, said that if positive trends continue in the first half of this year then it is possible to increase their share buyback program later this year. A weaker dollar and lower oil prices weighed down on the company's second-quarter adjusted profit. This was despite a better than expected performance in its gas business. The results exceeded analysts' expectations. The company's net debt decreased and it improved its full-year targets for its Gas and LNG division as well as cost-saving measures.
Iberdrola raises $5.9 billion to fund grid investment
Iberdrola, Europe's biggest utility, announced a capital increase of 5 billion euros ($5.87 billion), to fund power grid investments in Britain and the United States. The company intends to increase its annual investment to 15 billion euros. This is an increase from the current level of 12 billion euros. It will build on its shift to upgrading and expanding electricity grids in countries with steady and healthy returns, such as America and Britain. The company's new strategy will be funded by the cash raised along with debt, operating funds, asset sales, and partnerships.
Woodside's second-quarter revenue beats estimates on Sangomar output; trims 2025 outlook
Australia's Woodside Energy reported a stronger-than-expected 8% rise in second-quarter revenue on Wednesday due to robust output from Senegal's Sangomar project, though it marginally lowered its annual production forecast following an asset divestment. Woodside agreed in late March to sell offshore oil and natural gas assets in Trinidad and Tobago, including production facilities and interests within the shallow-water Angostura and Ruby fields of the Greater Angostura Project to Perenco. The top gas producer in the country posted revenues of $3.28 Billion for the three-month period ended June 30.
CPC Corp Looks to Buy US Shale Gas Assets
Taiwan's state-owned energy company CPC Corp is in early stage discussions to buy shale-gas producing assets in the United States, three sources familiar with the matter said, in a bid to secure natural gas supplies to fuel Taiwan's economy.If a deal is struck, CPC would join a growing list of Asian companies taking ownership of U.S. natural gas assets, gaining exposure to the commodity at a time that the United States is expanding its export capacity by building more liquefied natural gas plants.Taiwan would also be gaining political leverage with the Trump administration, which has linked increasing imports of U.S.
TotalEnergies UK Assets to Be Bought by Prax Remain Unsold
The TotalEnergies West of Shetland offshore assets it agreed to sell to Prax Group last year remain under the French oil major's ownership, it said on Wednesday, so will not be subject to disposals resulting from liquidation proceedings affecting the British company."The transaction to sell our West of Shetland asset to Prax has not yet completed and as such we remain the operator of the Shetland Gas Plant and related fields," TotalEnergies EP UK said in its statement.TotalEnergies had agreed to sell Prax a portfolio of mature offshore fields producing about 7…
Energy companies race to Southeast Asia for gas to meet AI power demand
Energy companies are investing in gas exploration and production to meet the rising demand for power from a growing population and the proliferation of data centers in this region. As countries pursue different paths of energy transition, European majors are pivoting back to conventional fuels that are more profitable. Southeast Asian governments also want to increase the affordability of local gas to improve economic growth and energy security. Anwar Ibrahim, Malaysia's Prime Minister, said that Shell had…