Chevron says it'll use 70% of its capital allocation for production on oil fields in the U.S., Argentina and Canada, while Exxon says they will allocate a similar portion of their budget to places like the Permian Basin, Brazil and LNG projects, The Wall Street Journal . Both companies are moving out of places like Asia, West Africa, Russia and parts of Latin America, the report says.
It marks the end of an era where oil companies would search globally for oil to add to their booked reserves. Exxon has already sold or proposed to sell assets in Chad, Cameroon, Egypt, Iraq and Nigeria, the report says. They mark the largest sales for the company since 2018 and come as part of an overall plant to try and offload at least $15 billion in assets.
Muy interesante.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Oil Majors Exxon And Chevron Shift Focus To Americas | OilPrice.comExxon and Chevron are betting big on oil and gas assets in the Americas as they seek to capitalize on abundant resources with good returns closer to home.
Source: OilandEnergy - 🏆 34. / 68 Read more »
Exxon And Chevron Set For Record $100 Billion In Profits In 2022 | OilPrice.comThe surge in oil and gas prices will translate into record-high 2022 earnings for the two U.S. supermajors, Exxon and Chevron, with their combined yearly profits hitting nearly $100 billion, analysts say. 👍🏻🇺🇸
Source: OilandEnergy - 🏆 34. / 68 Read more »
Chevron CEO Pushes Back On Biden Claims Of ‘War Profiteering’ | OilPrice.comIn an appearance on Bloomberg Television, Chevron CEO Mike Wirth pushed back on accusations by the Biden Administration that oil companies are profiteering from the surge in prices after the Russian invasion of Ukraine E allora,in base a che cosa hanno fatto gli aumenti?
Source: OilandEnergy - 🏆 34. / 68 Read more »
The Oil Market Crisis Sparked By Russia’s Invasion Is Nearing Its End | OilPrice.comAnalysts remain divided regarding oil prices in 2023 however, with some analysts believing the return of China and the lack of Russian energy will send prices soaring.
Source: OilandEnergy - 🏆 34. / 68 Read more »
North Sea oil prices offer 'historic opportunity' to transform Scottish economyA pro-independence think tank has argued that high energy prices could help the Scottish economy transformation towards net zero. Utter nonsense, those of us who work in the industry can see right through this Nat baloney That's all very well but it's offset by the SNP overturning local councils who have previously blocked house building on green belt/green field areas that have alot of mature trees etc. To go on about net zero whilst chopping down mature trees seems hypocritical to say the least.
Source: Daily_Record - 🏆 9. / 89 Read more »
Oil And Gas Prices Slide At The Start Of The Year | OilPrice.comOil and gas prices fell at the beginning of the new year, with Henry Hub gas prices falling more than 10% during the first session of the year
Source: OilandEnergy - 🏆 34. / 68 Read more »