ExxonMobil to Sell Troubled Oil Properties in California
ExxonMobil will sell its troublesome offshore oil and gas fields in California that have been inactive since a pipeline leak in 2015, Reuters reported.
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Partnering to Pave the Energy Transition Pathway for Egypt: Interview with Karim El-Dessouky, Bechtel Vice President and General Manager, Egypt
Bechtel is committed to achieving net zero emissions by 2050, and we are currently in the process of setting interim targets that align with the findings of the UN Intergovernmental Panel on Climate Change.
Equinor Secures Acquisition of Leading Danish Solar Developer BeGreen
BeGreen, a leading solar project developer in North-West Europe, has agreed to be purchased by Equinor. Equinor's skills and portfolio in solar PV will be strengthened by the acquisition.
Egypt Spends EGP 36B Annually to Subsidize Butane Cylinders
In a press conference held by Prime Minister Mostafa Madbouly, Minister of Petroleum and Mineral Resources Tarek El Molla discussed the state's efforts to ensure the permanent availability of petroleum products in the local market, highlighting the government spends up to EGP 36 billion annually in support of butane cylinders.
ExxonMobil Makes Profits of $19.7B for Q3 2022
Exxon Mobil Corporation reported earnings of $19.7 billion for the third quarter of 2022, or $4.68 per share assuming dilution. The third-quarter results included one-time advantages from tax and other reserve adjustments as well as net favorable identified items of over $1 billion related to the completion of the XTO Energy Canada and Romania Upstream subsidiary divestments, which were partially offset by impairments.
Shell Makes $9.5B in Profits, Plans to Increase Dividend
Shell reported third-quarter profits of up to $9.45 billion, easing from the previous quarter's record high due to lower refining and gas trading, as it declared plans to dramatically increase its dividend by year end when its CEO departs, Reuters reported.
Natural Gas Reaches Bakhanis Village in Qena
The Egyptian Ministry of Petroleum and Mineral Resources announced that the first natural gas torch was lit for the first household in the village of Bakhans in the Abu Tesht district in Qena Governorate after the Modern Gas Company finished pumping gas to the village included in the first phase of the presidential initiative Haya Karima ('Decent Life').
TotalEnergies Achieves 500 MW of Onsite B2B Solar Distributed Generation
TotalEnergies declared that it reached the milestone of 500 MW of onsite B2B solar distributed generation in operation. In Asia, the Middle East, Europe, and the US, solar panels have been installed in more than 300 locations owned by its industrial and commercial clients.
PetroTrade Offers New Technologies for Natural Gas Services
As part of the petroleum sector's digitalization strategy, PetroTrade has provided new electronic machines to facilitate all natural gas services which will be available over all the country.
