It was a week when both oil and natural gas prices recorded small losses.
The headlines revolved around energy biggie Shell plc’s SHEL investment in an Australian gas project and equipment supplier SLB’s SLB expansion in Russia. Developments associated with ExxonMobil XOM, Marathon Oil MRO and NextDecade Corporation NEXT also grabbed attention.
Australian Energy Producers, representing Australia’s upstream oil and gas exploration and production industry, has urged the Commonwealth to fix – what it deems as – the broken offshore regulatory system after the logjam of energy supply and carbon capture projects awaiting approval was exposed.
Jadestone has agreed to acquire BP’s stake in the North West Shelf Oil Project in the North Carnarvon basin offshore Australia.