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...One option includes turning it into a cash-shell company that pursues acquisitions in new industries, the 63-year-old billionaire told the Financial Times in a rare interview....
...The companies include Saudi Aramco, TotalEnergies, BP, Shell and ExxonMobil....
...Shell was granted its first exploration licence to prospect for oil onshore in Nigeria in 1938 and drilled the country’s first successful well in 1956 in Bayelsa state in the Niger Delta....
...Yesterday Saudi Aramco, the world’s biggest oil company, announced it was scrapping a major strategic commitment to increase its production capacity....
...What will now happen to the machinery that had been installed in The Wing to increase the level of in-house production was not made clear....
...exploration and production....
...and production] industry”....
...After her government announced in January that it would end fossil fuel exploration, she noted, Colombia’s currency and credit rating both took a hit....
...Space-age design I Designers and furniture makers have been inspired by space exploration for decades....
...International companies have mined diamonds and uranium in Namibia for decades but there is no history of oil production....
...Simon Mundy is editor of the FT’s Moral Money newsletter and author of the book Race for Tomorrow (HarperCollins)...
...Shell, which picked up its first onshore exploration licence in Nigeria in 1938, has agreed terms to sell the 68-year old Shell Petroleum Development Company of Nigeria (SPDC) to a consortium of five predominantly...
...Zimbabwean pension funds are among the investors in Invictus and the company and the project will eventually need a production-sharing deal with the Zimbabwean state....
...“The private [exploration and production groups] were the last remaining vectors of that era of very price-cyclical boom and bust growth cycles,” said Matthew Bernstein, senior analyst at consultancy Rystad...
...However, rather than abandoning LNG more companies are trying to follow Shell’s lead....
...Take a break from the news V-necks have been verboten for as long as most of us can remember, writes Teo van den Broeke....
...“It is fair to assume that virtually every company focused on oil and gas exploration, production and refining is continuously looking to expand its oil and gas activities,” said Hortense Bioy, global director...
...Among the US’s shale exploration and production specialists, analysts said larger remaining companies would look to combine to gain scale and present an attractive target for a supermajor buyout down the...
...The new financial discipline demanded by exploration and production investors — profits before growth — has given Opec a stronger hand. A surprisingly resilient global economy has helped....
...Since then oil production cuts by Opec+ have pushed prices towards $90 a barrel, but weaker energy prices are expected to have taken their toll on the company....
...Seasoned oil and gas investors know new exploration permits do not mean the North Sea’s taps will suddenly be jammed open. Exploration success is far from guaranteed....
...“This year we will exceed our goals [and] surpass what we predicted,” said Joelson Falcão Mendes, director of exploration and production at Petrobras....
...ExxonMobil is planning to spend $25bn on exploration and production in 2023 alone. But the companies are also pumping money into low carbon energy that the world needs to mitigate climate change....
...In recent years the company helped transform the sleepy US state of North Dakota into a powerhouse oil producer and struck liquid gold with an exploration punt off the coast of Guyana that became the biggest...
...Shares in BP, Shell, ExxonMobil and Chevron were all largely unchanged by late Wednesday afternoon in London, ticking up at the end of the trading day in New York....
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