Exxon and Chevron must decide whether they are more enemies than ‘frenemies’

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The rivalry between ExxonMobil and Chevron has plumbed a new depth. On Monday, securities filings revealed a hang-up in Chevron’s $60bn stock deal to acquire smaller rival Hess Corporation. Hess’s crown jewel is a stake in the Stabroek deepwater field located off the coast of Guyana. A controlling 45 per cent stake happens to belong to Exxon.

TotalEnergies, Shell, Chevron Intensify Focus on African Oil and Gas Resources

Major international oil companies (IOCs) are reaffirming their dedication to the development of African oil and gas resources, signaling positive prospects for service providers, drilling contractors, and the wider industry. During a recent event in Nigeria, top representatives from TotalEnergies, Shell, and Chevron disclosed substantial investment plans, spanning from pioneering exploration endeavors to facilitating gas supply from mature markets. With the Invest in African Energy (IAE) forum scheduled for May in Paris, there exists a prime opportunity for investors to capitalize on this renewed commitment to advancing Africa’s energy sector.

Investor Group Seeks to Steer BP Back to Oil and Gas

Bluebell Capital Partners criticized BP’s plan to reduce oil and gas production by 25% by 2030, labeling it an “irrational strategy”.
The investor group urged BP to cut funding for bioenergy, hydrogen, and renewable projects, claiming the company has “no right to win” in these markets.
Despite pressure, BP’s new leadership, under Murray Auchincloss, plans to continue with the existing renewable energy strategy.