The first financial results for Q4 2023 were published this week with Shell and Chevron both reporting significant quarter-on-quarter growth but double-digit percentage decreases in annual earnings for 2023.
Shell, for its part saw its 2023 earnings drop 30% following lower oil and gas prices worldwide, while Chevron’s annual earnings dropped 40% year-on-year after the firm reported impairment charges relating to decommissioning and a further impact from foreign currency fluctuations.
Elsewhere ripples from the US decision to pause LNG exports reverberated around the industry and the corridors of power worldwide, especially in Japan, where Ken Saito, Japan’s minister of economy, trade and industry expressed his concern about the potential future of US exports.
On Thursday Gulfstream CEO Vivek Chandra spoke out about the LNG pause suggesting that it would damage the “perception, credibility and reputation” of the US, ultimately harming the American consumer.
Here’s your weekly catch up service of the top issues that made the news this week:
Excelerate lines up more LNG for Bangladesh with 15-year QatarEnergy deal
Free trade agreements in focus as US reviews LNG exports
GAIL inks 10-year LNG supply deal with ADNOC
New Fortress Energy gets US customs clearance for Altamira LNG shipments
EDP Renewables targets Australia expansion
Tellurian chair reassures shareholders on Driftwood as US pauses LNG deals
Japan's government raises concerns over potential delays to US LNG projects
Qualitas Energy clinches US return with Heelstone acquisition
China risks power shortages as demand set for growth in 2024
CO2 leakage insurance to bolster investor interest in UK's CCUS sector
Cheniere approved for New York Stock Exchange share uplisting
Norwegian state to appeal court ruling invalidating field approvals
Shell, BP and Total confirmed in latest North Sea licensing round
Canada eyes low-carbon LNG opportunity as US mulls project approvals
Shell’s shift to gas spurs Q4 despite 30% 2023 drop on low oil, gas prices
Why tackling upstream’s methane emissions needs priority
OMV can meet customer obligations if Russian gas supplies stop - CEO
Gulfstream LNG’s Vivek Chandra: Consumers lose out with Biden's LNG pause
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