Chevron, the U.S.-based oil company, will start $500 investment to develop the Trapial block before July in western Neuquen province, Argentina's economy ministry announced after a meeting between Economy Minister Sergio Massa and company officials, Reuters added.
After securing a sanctions waiver from the United States, Iraq agreed to pay Iran $2.76 billion in gas and electricity debt, a senior official in the Iraqi foreign ministry said, Reuters added.
A unit of Shell's Pernis oil refinery in Rotterdam has been shut down due to an unidentified leak, Reuters reported referencing a company statement.
Eni, the main international gas producer in Libya, inked a memorandum of understanding (MoU) with Libya to study and identify opportunities to reduce greenhouse gas emissions and develop sustainable energy in the country.
ADNOC Drilling Company has inked an agreement to acquire two premium high-specification Gusto MSC CJ46 design offshore jack-up drilling units (the “rigs”). The $220 million-rigs will be brought into the waters off Abu Dhabi, where they will start producing revenue in the fourth quarter of 2023.
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.
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.
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 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, 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.
