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Chevron Technology Ventures invests in modular CO₂ capture system

Chevron Technology Ventures invests in modular CO₂ capture system

Carbon Clean Solutions Limited has completed an equity investment of $16 million from three global investors. Company announced that its wholly owned subsidiary Chevron Global Energy Inc. has completed the sell down of its 135 million shares. Company reached a settlement agreement with James Russell DeLeon, the principal funder of the fraudulent lawsuit against Chevron...

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Maersk Drilling tags Halliburton and Petrofac for its Seapulse exploration drilling program

Maersk Drilling tags Halliburton and Petrofac for its Seapulse exploration drilling program

Maersk Drilling has signed agreements with Halliburton and Petrofac to collaborate on an exploration program. The success stories from Maersk Resolute’s recent contract with Petrogas E&P Netherlands B.V. are many. On 2 October 2017, Maersk Discoverer moved the boundaries for drilling in shallow waters. CFO Marianne Sørensen will be joining Rambøll as their new Group...

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Conoco launches plan to distance itself from shale, win back shareholders

Conoco launches plan to distance itself from shale, win back shareholders

ConocoPhillips announced a 10-year plan to buy back $30 billion of shares, equivalent to about half of its current market capitalization. ConocoPhillips reported third-quarter 2019 earnings of $3.1 billion, or $2.74 per share. Company announced it has entered into an agreement to sell the subsidiaries that hold its Australia-West assets. Company announced an increase in...

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Norwegian oil crews stigmatized in the “climate change” era

Norwegian oil crews stigmatized in the “climate change” era

Ole Lie, a drilling supervisor who’s worked for Norway’s oil giant Equinor ASA since the 1990s. The Norwegian offshore survey company EMGS has signed an $8 million multi-client contract. The feeling unloved as many are starting to turn their backs on an industry. Norwegian oil and gas giant Equinor slipped to a net loss in...

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Santos targets LNG growth with $1.4 billion ConocoPhillips deal

Santos targets LNG growth with $1.4 billion ConocoPhillips deal

Santos Ltd. agreed to buy ConocoPhillips’ northern Australia business for $1.4 billion in a deal. ConocoPhillips (NYSE: COP) today announced an increase in its quarterly dividend of 38 percent. ConocoPhillips (NYSE: COP) today completed its previously announced transaction. Company will boost the Adelaide-based oil and gas producer’s position in the growing Asian liquefied natural gas...

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Chevron lays groundwork for Venezuela exit before waiver expires

Chevron lays groundwork for Venezuela exit before waiver expires

Chevron appears to be laying the groundwork to leave Venezuela in the event that the U.S. declines. Chevron Corporation announced that its 50 percent owned affiliate, Tengizchevroil (TCO), will proceed with the development. It extend a waiver allowing it to continue operating in the country. The record annual net oil-equivalent production of 2.93 million barrels...

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TechnipFMC to split, spinning off onshore, offshore segments

TechnipFMC to split, spinning off onshore, offshore segments

Company seeing the beginning of a shaping of industry. TechnipFMC announced that company will open a new facility in Speers, Pennsylvania. TechnipFMC recently partnered with Argentine oil and gas producer YPF S.A. TechnipFMC celebrated the first steel cut of the manifolds and subsea structures for CNOOC’s Liuhua 16-2 Oilfields development. TechnipFMC is preparing for the...

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Pembina to buy Kinder Morgan’s oil assets for $3.3 billion

Pembina to buy Kinder Morgan’s oil assets for $3.3 billion

Pembina Pipeline Corp. increased its bet on the future of Canada’s turbulent oil-sands industry. Pembina Pipeline Corporation announced that its Board of Directors declared a common share cash dividend. Company announced its financial and operating results for the second quarter of 2019. The dividends are designated “eligible dividends” for Canadian income tax purposes. Company also...

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OPEC sees ‘somewhat bearish’ oil outlook even as market tightens

OPEC sees ‘somewhat bearish’ oil outlook even as market tightens

Global oil markets face a “somewhat bearish” outlook for the rest of the year amid slowing economic growth. Fed cuts interest rates, signals it may not need to do more. ConocoPhillips missed Wall Street estimates for quarterly profit on last Tuesday. The long-running trade war, even though supplies will be tighter than previously thought. Copper...

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Wintershall Dea taps ConocoPhillips’ shale expertise in Argentina agreement

Wintershall Dea taps ConocoPhillips’ shale expertise in Argentina agreement

Wintershall Dea has signed a Sales and Purchase Agreement with ConocoPhillips. Cash flows in the German natural resources sector are transparent. Recent merger of Wintershall and DEA formed Europe’s leading independent gas and oil company. It develop the Aguada Federal and Bandurria Norte blocks in the central Argentine province of Neuquen. The collaboration and research...