1. German energy giant uniper posted a net loss of US $12.5 billion in the first half of the year
Germany’s largest Russian natural gas importer and utility company uniper reported a net loss of 12.3 billion euros (12.5 billion US dollars) in the first half of last Wednesday, mainly due to the reduction of Russian natural gas supply, forcing it to purchase alternative natural gas from other places at higher prices. This highlights the seriousness of the European energy crisis. The company received 15 billion euros in government aid last month..
2. BP seeks to exit oil assets in Mexico
BP is seeking to exit its oil assets in Mexico due to the policy challenges it faces in Mexico and the shift of its business strategy to renewable energy.
Like other large oil companies, BP entered Mexico during the administration of Enrique Nieto, when he implemented comprehensive reforms aimed at opening the Mexican market to foreign companies. BP won three exploration contracts in Mexico six years ago in cooperation with total of France, Statoil of Norway, Qatar oil company and hokchi energy company. Since then, as the newly elected president hopes to restore the dominant position of state-owned enterprises such as Pemex in the energy market, BP has sold its share or is returning the oil fields it has acquired to the national hydrocarbon Commission, the Mexican regulatory body
3. ONGC and ExxonMobil cooperate to conduct deepwater oil and gas exploration in India
ONGC and ExxonMobil signed an agreement (HOA) for oil and gas exploration on the East and west coasts of India.
The two companies will carry out exploration work, focusing on the Krishna Godavari and Cauvery basins in the eastern offshore area and the Kutch Mumbai area in the Western offshore area.
4. Australian oil giant’s approval of Alaska oil project shocked the market
Australian oil and gas company Santos announced that the first phase of its US $2.6 billion pikka oil project in Alaska was finally approved, and said that it was conducting in-depth discussions on the sale of its 5% interest in PNG LNG joint venture in Papua New Guinea.
Santos will spend US $1.3 billion to acquire pikka oilfield. It is estimated that the daily output of pikka oilfield will reach 80000 barrels from 2026.
When Santos made the final investment decision, some investor groups were shocked by the company’s plans to expand in the oil and gas field, despite the company’s commitment to reduce emissions and achieve carbon neutrality and direct emissions by 2040.
Post time: Aug-23-2022