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...In recent months, Shell has also become embroiled in a dispute with US-based Venture Global LNG, alleging the company is refusing to honour a multibillion-dollar supply contract....
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...of dollars in well-decommissioning obligations....
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...Oil prices jumped and the dollar strengthened early on Monday following a weekend of violence in Gaza and Israel....
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...Today, as a multibillion-dollar wave of consolidation washes over the Permian Basin — the engine room of America’s oil industry — that landscape has been transformed....
...The multibillion-dollar investment programme had set the company apart from much of the industry, where spending on oil production is generally falling because of concerns about climate targets and future...
...“When you go into something that’s a rank wildcat, where people have failed to find oil, and you’re going to spend billions of dollars, you know, the terms have to be competitive to draw you in,” Yergin...
...The US oil major told my FT colleagues in Brussels that “recent developments in Europe have not instilled confidence in long-term, predictable policies”....
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...The value in dollar terms increased 4,600 per cent from $95mn to $4.5bn, according to official government figures....
...“For Saudi Arabia, which has consistently invested tens of billions of dollars per annum in its upstream [activities] over the past decade, idled capacity comes at a daily cost — it needs to come back on-stream...
...Critics also alleged mismanagement and political interference that cost the business billions of dollars, whether through fuel subsidies or refinery building projects that went over budget....
...Oil prices declined on Friday, as a strong US dollar weighed on appetite for the world’s most important fossil fuel....
...That is what has happened with oil prices and the dollar....
...That bring us to four multibillion-dollar shale deals in the past five months....
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...A weak dollar trend usually presages a bullish period for commodities, partly because they are priced in that currency. Instead the US economy motored along, while China spluttered....
...As the energy transition gathers speed, economies reliant on oil and gas risk losing trillions of dollars in revenue thanks to the hit on fossil fuel demand....
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