EDF, ENI and ADNOC were among the companies reporting Q4'23 earnings this week. Both ENI and ADNOC boosted hydrocarbon production, but earnings dropped amid weaker energy prices.
As for M&A acticity, Diamondback Energy and Endeavor Energy agreed terms on a USD 26 billion merger deal to create a “premier Permian independent operator” with combined net production in excess of 800,000 Boe/d. Moreover, BP and ADNOC announced plans for a joint gas venture in Egypt which will give the Abu Dhabi-based company access to a number of assets in the country, including the offshore Zohr field.
In Norway, three separate reports published by intelligence agencies highlighted the risk of Russian sabotage and cyberattacks targeting Norwegian gas infrastructure and energy exports.
Here’s your weekly catch up service of the top issues that made the news this week:
Norwegian intelligence highlights risk of Russian sabotage to gas infrastructure
Chesapeake, Gunvor and Delfin agree 0.5 mtpa LNG supply deal for 20 years
Mexico sees lower share of non-thermal power, CCGT expansion continues
ADNOC's expansion continues after agreeing Egypt JV with BP
EC approves EUR 6.9 billion in state aid for multinational hydrogen project
BP’s LNG project in West Africa moves one step closer as FLNG vessel arrives
Eni sees lower earnings, higher production in Q4’23
EDF reports EUR 12.9 billion Hinkley impairment, reduces net debt to EUR 54 billion
‘Latent demand’ sufficient to drive LNG growth to 2040 – Shell
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