Ilia Ivanov’s Post

🇵🇬 ➡️ Kumul’s enlargement of its share in ExxonMobil’s project enables Chevron to get more LNG Santos Ltd executed a binding sale agreement to sell Kumul a 2.6% participating interest in PNG LNG for a total purchase consideration comprising cash and the assumption of around $160 million of project finance debt. Earlier this year, the NOC paid $352 million to enable the partial completion of the transaction. The company confirmed the completion of its acquisition of additional equity in the PNG LNG project from Santos on November 4. As a result, the firm’s shareholding increased to 19.2%, including the 4.27% Kroton equity option shareholding, held for beneficiaries impacted by provincial governments and landowner groups. A deal with Chevron, under which the U.S. oil major agreed to make an advance payment, enabled the NOC to close the acquisition in exchange for LNG and condensate cargoes over the next two years. Source ➡️ https://lnkd.in/gsm5PSNv #LNG #PNGLNG #Kumul #Santos #Chevron

🔍 Diving into the complexities of the energy industry: The arbitration dispute between Chevron and Exxon Mobil over a significant oil contract in Guyana is shaping the future of strategic acquisitions in the oil market. 🛢️💼 #EnergyIndustry #ArbitrationDispute Key Points: • Crucial arbitration resolution anticipated in the coming months, impacting Chevron’s $53 billion acquisition of Hess Corp. • Exxon claims a right of first refusal over Hess’s stake in the Stabroek Block, challenging Chevron’s acquisition plans. • Arbitration timeline proposed by Hess, with both Exxon and Chevron appointing arbitrators for the panel. • U.S. FTC approval awaited for the deal to proceed, highlighting regulatory implications. • Chevron CEO Mike Wirth expresses confidence in Chevron’s stance despite lack of ongoing negotiations with Exxon. The outcome of this arbitration will not only decide the fate of the Chevron-Hess transaction but also set precedents in interpreting rights of first refusal in corporate mergers. Stay tuned for updates on this pivotal dispute in the oil industry! ⚖️💡 #ArbitrationResolution #OilMarket

Shell, an oil and chemical group engaged in the exploration, production, transportation, refining, distribution and marketing of crude oil, gas, and petroleum products, completed the acquisition of RISEC, the owner of a 609-megawatt gas power plant in Rhode Island. Financial terms were not disclosed. This acquisition allows Shell to continue an energy supply agreement that has been in place since 2019 and secure long-term energy offtake from the plant, maintaining Shell's position in the ISO New England power market. The acquisition preserves SENA's current operations and mitigates market risk by ensuring a reliable and stable power generation source. RISEC was advised by Latham & Watkins (led by David Allinson and Daniel Williams). The Carlyle Group was advised by Barclays. #MergersAcquisitionsDivestitures #OilandGas #Petroleum

The federal government may approve the $1.3 billion asset sale deal between Shell and Renaissance, following the announcement of Shell’s $5 billion investment in the Bonga North project. The final investment decision (FID) served as a pavement for the oil major to get approval for the sale of its onshore and shallow water assets to Renaissance. In October, the chief executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) ), Mr Gbenga Komolafe, revealed that while the government had processed five divestment applications, only four were approved – leaving out Shell’s asset sale to Renaissance, a consortium made up of four indigenous companies including Aradel Holdings PLC , ND Western Limited, First Exploration and Production (E&P) and Waltersmith Petroman Oil Limited as well as the international energy group, Petrolin. These assets, initially at $2.4 billion and now at $1.3 billion, include an estimated 6.73 billion barrels of crude oil and condensate, along with 56.27 trillion cubic feet of gas. The consortium lacked the financial, technical, and experience resources to assume the assets, so the FG rejected the deal; however, the deal has since been approved.

Who’s winning the oil and gas profit game? Take a look at 2023’s net profits Saudi Aramco dominates with $121 billion on another level ExxonMobil follows, posting $36 billion in profits Petrobras secures the third spot, earning $25 billion Chevron and TotalEnergies tie with $21 billion each Shell and BP trail behind, but still solid players The gap between Aramco and the rest? Massive Why does this matter? These profits fuel investments, geopolitics, and energy markets worldwide It’s a reminder: oil and gas shape economies and global stability Energy policies and market dynamics? Driven by these giants What do you think does this list surprise you? Drop your thoughts in the comments ExxonMobil Petrobras TotalEnergies Chevron Shell Equinor bp Eni ConocoPhillips KazMunayGas Saudi Aramco Total Refining and Petrochemical Company (SATORP) #EnergyMarkets #OilAndGas #GlobalEconomy

Announcing its new Corporate Plan to 2030 yesterday (11 December), ExxonMobil said that it expects its LNG sales to surpass 40 million metric tonnes a year by the end of this decade, while a new facility in Texas could be produciing more than a million tonnes of low-carbon ammonia. https://lnkd.in/gD-b88j9

EXXON SIGNALS Q2 BELOW MARKET CONSENSUS Exxon Signals Q2 Below Market Consensus, Excluding Pioneer Buy https://hubs.la/Q02FQy140 Exxon Mobil Corp on Monday signaled that lower refining margins across the industry and lower natural gas prices will reduce profits in the second quarter. #exxon #market #energyindustry #oilandgasindustry #refining #naturalgasprices #naturalgas

ExxonMobil is projecting #capex of $27bn-$29bn in 2025; while it eyes boosting upstream production to 5.4 MMboe/d w/ >60% from advantaged assets in the #permian and #offshore #guyana; and total production in #stabroek reaching 1.7 mmb/d w/ gross production reaching 1.3 mmb/d by 2030. https://lnkd.in/gtAYzkUN

ExxonMobil reports $8.6 billion Q3 2024 earnings and record high liquids production To view article please click here: https://hubs.ly/Q02XttVQ0 Does your company have news to share with the industry? Please contact: marketing@storageterminalsmag.com and we will be happy to assist. #storageterminalsmagazine #tankstorage #oil #chemicals #gas #tankterminals #bulkliquids #tanks #storagetanks #storageterminals #liquids #storageterminalsmag #news