Exxon stock slides on report of SEC probe into Permian valuations
The probe may cast a shadow over Exxon’s efforts to turn a corner after its shares posted their worst annual performance in 40 years in 2020 amid a collapse in oil prices. CEO Darren Woods has been forced to slash spending, and last month the company said it will write down the value of North and South American natural gas...
Total to drop API membership, citing climate and political differences
Total announced that it would not renew its membership in the American Petroleum Institute in 2021, saying that the company's stances on climate change and political affiliations are no longer in line with the U.S.-based energy group.
U.S. blacklists CNOOC for “bullying” in the South China Sea
China National Offshore Oil Corp. has for years drilled in waters far from its borders, and within 200 miles of countries including Vietnam and the Philippines. The activity amounts to the oil giant acting like a “bully” for China’s military to intimidate its neighbors, U.S. Commerce Secretary Wilbur Ross said in a statement Thursday announcing the move, which restricts access...
Marubeni retains Jefferies to market its North Sea oil and gas assets
Marubeni Corp. could all but exit the UK North Sea as it looks to sell its main oil and gas fields in the region, according to people with knowledge of the matter.
Halliburton switches to grid electricity for Permian frac jobs
The world’s biggest fracking services provider, Halliburton has deployed the industry’s first grid-powered fracking operation on behalf of Cimarex Energy Co. To date, it’s completed almost 340 stages across multiple wells.
Nord Stream 2 to complete first of two branches as soon as June
The pipelaying vessel Fortuna is expected to complete works in Danish seas by the middle of the last week of May, and then start in German waters with construction going through to June.