TotalEnergies

Sep 26, 01:35 PM UTC· Signal 211.3

SOCAR, TotalEnergies, ADNOC’s XRG approve second phase of Absheron gas field

SOCAR, TotalEnergies, and ADNOC’s XRG approved the second phase of the Absheron gas condensate field in Azerbaijan’s Caspian Sea sector. Production is scheduled to begin in 2029, raising total output to 6 billion cubic meters of gas and 47,000 barrels of condensate per day. The expansion will enable exports to Turkey via existing infrastructure.

7 reports · 5 sources

Sep 24, 10:35 AM UTC· Signal 181.1

Saudi Arabia sells nearly 100 million barrels of crude to Asian buyers amid pipeline outage

Saudi Arabia has sold nearly 100 million barrels of crude oil to Asian buyers since mid-last week, with deliveries in October and November. The sale, equivalent to roughly one day of global demand, more than doubles Saudi flows through the Strait of Hormuz. The move follows an attack on the East-West pipeline on September 10, which has not fully resumed. Saudi Aramco is now offering delivered terms, assuming shipping and war risk, as tanker rates spiked to $1 million per day.

5 reports · 4 sources

Aug 25, 12:00 AM UTC· Signal 64.9

Exxon and Others Bid for Shell's $8B US Chemicals Business

ExxonMobil, LyondellBasell, Apollo Global Management, and Kuwait Petroleum Corporation are competing to acquire Shell's U.S. chemicals business, valued at up to $8 billion. The assets include four facilities in Louisiana, Texas, and Pennsylvania producing chemicals for plastics and detergents. The sale is part of Shell's strategy to divest underperforming operations and focus on higher-value assets like liquefied natural gas, following recent divestitures in Europe and Cyprus.