Tag: Welligence Energy Analytics

Welligence Says Hess Gives Chevron Atlantic Margin Exposure

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(Energy Analytics Institute, 23.Oct.2023) — US-based Chevron Corporation will acquire Hess Corporation for US$60bn (including net debt), the second giant transaction of Oct. 2023 following the $65bn move by ExxonMobil to acquire Pioneer Natural Resources Company, both in all-stock transactions, Welligence Energy Analytics wrote 23 Oct. in a social media […]

Welligence Reveals LNG Outlook to 2030

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(Welligence Energy Analytics, 7.Jul.2023) — Our LNG outlook report, published this week to clients, reveals key insights into the industry’s future. Can the LNG market overcome increasingly scarce supply, adapt to more concentrated production, embrace progressively floating infrastructure and meet Net Zero pressures? Growing LNG competition from Asian importers will keep gas prices elevated, averaging over US$13/MMbtu in Europe, […]

Majors Capex Guidance Update

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(Energy Analytics Institute, 23.Feb.2023) — “Despite bumper profits, the peer group is guiding towards $118bn in total investment in 2023, up just 4% on last year. This reflects the priorities of capital discipline, targeted investment in the best projects and shareholder returns – the group collectively returned $117bn to investors […]

Brazil Bid Round Alert: Welligence

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(Welligence, 16.Dec.2022) — Brazil bid round alert! The first PSC Permanent Offer round was held today, with 4 of the 11 blocks on offer in the Santos and Campos basins awarded. The involvement of large international companies is encouraging, but most of the acreage awarded was lower risk, including areas […]

Exxon Downsizes As Wall Street Worries About Dividend

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(Reuters, 7.Sep.2020) — Ill-timed bets on rising demand have Exxon Mobil Corp facing a shortfall of about $48 billion through 2021, according to a Reuters tally and Wall Street estimates, a situation that will require the top U.S. oil company to make deep cuts to its staff and projects. Wall […]

Mexico Refuses To Cut Oil Output

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(Bloomberg, 8.Apr.2020) — Outside of Saudi Arabia and Russia, most oil producers are racing to deal with the historic oil price collapse by cutting back spending and in some cases production. But Mexico’s national oil company is acting like the crash never happened. Petroleos Mexicanos aims to nearly double drilling […]

Major Disappointment In Brazil’s Surplus Round

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(Welligence, 6.Nov.2019) — Brazil’s Surplus Transfer of Rights round (6th November 2019), the biggest resource opportunity of the year globally, has ended in huge disappointment. Only two (Buzios and Itapu) of the four opportunities on offer were taken, there was no competition, no participation from the Majors, and the cash […]