Chevron prepares for a quick closure of the Hess deal while awaiting the outcome of Exxon's dispute
According to two industry analysts and sources, Chevron has begun preparing for the acquisition of Hess. This includes a severance package for certain Hess employees. Both companies are preparing for a possible legal challenge by Exxon Mobil, which could make or break a $53 billion deal. Mike Wirth, CEO of Chevron, is adamant that the Hess purchase be completed.
Exxon returns Stabroek land to Guyana: Government
The Ministry of Natural Resources announced on Wednesday that an Exxon Mobil led oil consortium had returned 2,534 sq km of the Stabroek Block to the Guyana government. This relinquishment was part of an obligation for Exxon in order to begin the final exploration phase of the Stabroek Block. The block contains one of the largest oil discoveries of recent decades.
Japan protests new Chinese structures in East China Sea
The Japanese Foreign Ministry said that China had begun building a new structure between China and Japan, in the disputed East China Sea. It also added that it had lodged a formal protest with China. In a press release, the ministry stated that "it is regrettable" for China to continue with its unilateral development while the exclusive economic zones and continental shelf of the East China Sea are still not defined.
Africa Energy to produce first gas from South Africa's biggest gas field in 2033
Africa Energy Corp, a Canadian-listed company, aims to begin production of South Africa's biggest gas discovery by 2033. Its CEO made the announcement on Tuesday as it pushed ahead with a project that former operator TotalEnergies abandoned. The company is waiting for regulatory approval on a revised environmental authorisation in order to survey Block 11B/12B of South Africa's south coast.
China's imports major commodities suffered a hiccup in the month of May: Russell
China's imports have slowed in May. Crude oil, coal and iron ore all saw declines, amid worries about the growth of the world's largest economy. Customs data released Tuesday showed that only natural gas imports improved, with 10.11 million tons in May slightly above the 9.67 millions in April. However, they were still 11% lower than a year ago. The arrivals of crude oil in May fell to 10…
China's imports major commodities suffered a hiccup in the month of May: Russell
China's imports have slowed in May. Crude oil, coal and iron ore all saw declines, amid worries about the growth of the world's largest economy. Customs data released Tuesday showed that only natural gas imports improved, with 10.11 million tons in May slightly above the 9.67 millions in April. However, they were still 11% lower than a year ago. The arrivals of crude oil in May fell to 10…
Canadian Natural Resources restarts its oil sands operations as the wildfire threat decreases
Canadian Natural Resources restarted the Jackfish 1 oil-sands project in northern Alberta, after determining that wildfires were safe to a distance. The largest oil producer in the country said that its operations at the site would ramp up over the coming days and aim to reach full production of 36,500 barrels a day by Friday. Canadian Natural evacuated…
Taiwan's drive to renewable energy is causing some fisheries communities problems
Taiwan's ambitious plan to combat climate change includes developing green, renewable energy. The wind farms visible off the west coast of the island are an important part of that goal. For some Taiwanese fisherman who have fished in the Taiwan Strait waters for generations, wind energy and other renewables come with a sting - disruption of fishing, pollution, and complaints of a lack communication from the government.
Cheniere Energy Enters Natural Gas Deal with Canadian Natural Resources
U.S. LNG exporter Cheniere Energy said on Wednesday its unit has entered into a long-term agreement to purchase natural gas from Canadian Natural Resources.WHY IS IT IMPORTANTThe U.S. is the world's largest exporter of liquefied natural gas and had shipped 11.9 billion cubic feet per day of the supercooled fuel in 2024.Commercial activity in the sector has gained further momentum after U.S.
Alberta wildfire disrupts oil production and forces evacuations
Wildfires in Alberta, Canada forced the temporary shut-down of oil and gas production. Residents of a small community were also forced to evacuate. Alberta Wildfire estimates that the blaze is 1,600 hectares and is burning uncontrollably about 7 km north-northeast of Swan Hills, in the northern part. Oil-and-gas producer Aspenleaf Energy, which has wells in the area…
Turkey will provide Syria with 2 billion cubic meters of gas per year
Alparslan Bayraktar, the Turkish Energy Minister, said that Turkey would provide 2 billion cubic meters of natural gas per year to Syria. Bayraktar, in a joint press conference with his Syrian counterpart at Damascus said that Turkey’s gas exports will contribute to 1,300 megawatts more of electricity production for the country. Ankara is positioning itself for a key role in Syria's rebuilding.
House committee makes changes to increase US oil and coal production on federal land
This week, a House of Representatives committee will examine sweeping changes in the nation's drilling programs for oil and gas, including the requirement of dozens of leases sales in the Gulf of Mexico, Alaska and other areas. These changes could be included in upcoming budget bills. The proposal is intended to support President Donald Trump's desire to increase U.S.
Bukit Asam, Indonesia plans a $3.1 billion plant to convert coal into synthetic natural gas
Bukit Asam, the Indonesian state-owned coal miner, is examining a plan that would invest $3.1 billion in a plant for converting coal into synthetic gas. Its chief executive announced this on Monday. Bukit Asam would be the latest to try to produce gas using coal. The government is pushing for value-added domestically on its natural resources after its partner withdrew from a project that was to produce dymethylether gas.
FTC moves to reverse Chevron and Exxon board restrictions
The U.S. Federal Trade Commission has taken a step towards potentially reversing the bans that were placed by the Biden Administration on the joining of the boards at Exxon Mobil and Chevron as a condition for allowing them to acquire two other oil companies. Exxon had agreed to remove former Pioneer Natural Resources CEO Scott Sheffield from the board of its company.
Oil advocate withdraws nomination for US Land Bureau
Senator Mike Lee announced at a Senate Hearing on Thursday that oil industry lobbyist Kathleen Sgamma had withdrawn her nomination for the U.S. Bureau of Land Management. Sgamma was scheduled to appear before the Senate Committee on Energy and Natural Resources on Thursday morning to discuss her nomination. Lee announced the news at the beginning of the hearing.
Tokyo Gas, Japan expands its US shale-gas business with Chevron
TG Natural Resources LLC, co-owned by Tokyo Gas, Castleton Commodities International and Castleton Commodities, announced on Tuesday that it had purchased a 70% stake of east Texas gas assets for $525m from Chevron, in order to expand its U.S. Gas business. TGNR, which is the fourth largest producer in the Haynesville shale region, will be able to benefit from synergies worth over $170m during the development of the asset…
Guyana's tax agency will begin dispute resolution with Exxon regarding expenses
The Natural Resources Ministry of Guyana has instructed the country's Tax Agency to start a dispute resolution process with Exxon Mobil regarding the recovery from the U.S. Oil Major, about $214 million worth of expenses. Exxon's expenses as part of operations on the Stabroek block offshore are closely watched because a consortium headed by the U.S.
Exports of Israeli natural gas to Egypt and Jordan will increase by 13.4% in 2024
Israel's Energy Ministry said that despite Israel's conflict with the Palestinian militant group Hamas, natural gas exports from Israel to Egypt and Jordan increased by 13.4% between 2024 and 2025. Eli Cohen, Minister of Energy, said that the jump "demonstrates Israel's natural-gas industry as a strategic asset contributing to regional security and stability".
Tokyo Gas sells US shale-gas stake to Shizuoka Gas at $130 million
Tokyo Gas, Japan’s largest city gas supplier, has announced that it will sell Shizuoka Gas its 25% stake in the Eagle Ford shale project in South Texas for $130m as part of an asset portfolio review in order to improve efficiency. Tokyo Gas, in a press release, said that the move would allow it to concentrate on its U.S. division, TG Natural Resources. This unit has assets in north Louisiana and east Texas.
Freeport Indonesia asks for copper concentrate export license
Freeport Indonesia's chief executive has said that the company has asked the government to relax the ban on copper exports and allow it to export 1.3 millions metric tons (worth $5 billion) of copper concentrate by December. Indonesia, a country rich in natural resources, has banned the export of unprocessed ore to encourage domestic processing and add value.
