Shell to Exit European Home Retail Energy Businesses
Shell announced that it will exit home retail energy businesses in Britain , Germany, and Netherlands due to “tough market conditions” stated Wael Sawan, Shell’s CEO, Reuters reported.
News / International
Chevron Produces First Gas from Gorgon Stage 2 Development Project
Chevron has begun to produce first Gas from the Gorgon Stage 2 development project off the coast of Western Australia, the project of which Chevron operates and owns 47% of it, Reuters reported.
Russia’s Oil, Gas Budget Revenues Fell by Amost 36% y/y in May
The lower profit-based oil tax has caused Russia’s federal budget revenues from oil and gas, the backbone of the economy, to decrease roughly by 36% in May, compared to the same month last year, according to the Russia's Finance Minister, Reuters reported.
Saudi to Implement Huge Oil Cuts in July as OPEC+ Extends Deal into 2024
Saudi Arabia announced that it will implement deep oil production cut in July on top of a boarder OPEC+ deal to limit supply into 2024, Reuters added.
ADNOC, John Cockerill Hydrogen, Strata Manufacturing Join Forces to Boost UAE’s Hydrogen Economy
ADNOC, John Cockerill Hydrogen, and Strata Manufacturing signed a strategic collaboration agreement, at the “ Make it in the Emirates” Forum, to manufacture electrolysers in the UAE for local use and for export.
ExxonMobil, Nucor Corporation Ink Carbon Capture Agreement to Reduce Emissions
ExxonMobil, Nucor Corporation inked newest carbon capture and storage (CCS) agreement to demonstrate momentum in helping industrial customers reduce emissions.
ADNOC Signs Agreements with Over 60 Companies at Forum in Abu Dhabi
ADNOC announced today at the Make it in the Emirates Forum in Abu Dhabi, new agreements with more than 60 UAE-based and international companies to locally manufacture critical non-oil products in its supply chain.
Equinor Postpones Bay du Nord Canada Oil Project Over Rising Costs
Norway’s Equinor decided that due to rising costs, the company will delay its Bay du Nord Canadian offshore oil project for up to three years.
TotalEnergies, Co-Venturers Ink PSC for the Agua Marinha Offshore Block
TotalEnergies, Petrobras, QatarEnergy, and Petronas have inked Production Sharing Contract (PSC) for the Agua Marinha block, which was awarded in the Open Acreage under Production Sharing Regime – 1st Cycle held by Brazil’s National Petroleum Agency (ANP) in December 2022.
Baker Hughes Cuts Down on Scope 1, Scope 2 Emissions by 28%
Baker Hughes, an energy technology company, has released the company’s 2022 corporate sustainability report.
