First quarter 2024 results season hit the sector this week as Equinor and TotalEnergies both reported a dip in earnings, so far.
Reports said multiple energy majors were eyeing a stake in ADNOC's low-emissions Ruwais LNG development, which is primed to reach FID this year.
ADNOC's ability to produce LNG with lower production costs than other regions is likely enticing others to invest and potentially secure offtake agreements with the 9.6 mtpa facility.
Meanwhile, JPMorgan this week issued a note to clients, urging caution over setting out ambitious climate goals, the world’s leading investment bank noted several areas in which a “reality check” is needed.
And, as US Environmental Protection Agency rules on methane emissions loom, Gas Matters Today too a deep dive into the cost implications of adopting detection technologies, as well as how providers can sell data to support offering a lower-priced services to energy firms.
Here's your weekly catch up service on significant industry developments this week:
Denmark launches mega offshore wind tender amid inflationary pressures
TotalEnergies to take over Malaysia’s SapuraOMV Upstream in $1.4bn acquisition
JPMorgan urged a ‘reality check’ on climate goals in a client note — here's why
Spain’s gas demand for power generation falls by 24% in Q1’24
Europe’s largest LNG plant shut after gas leak discovery
Here’s why energy majors want a piece of ADNOC’s Ruwais LNG asset
Methane market: How US firms from IOCs to mom-and-pop shops count the cost
Eni sees Q1 profits drop nearly 50%, expects volatile gas markets
Trident Energy acquires Congolese projects in deal with TotalEnergies, Chevron
US outlines plan for offshore wind leases to 2028
Mitsui inks deal with Gaz-System for Poland’s first FSRU
Why is debate flaring up over an EU ban on Russian LNG?
Equinor reports higher production, lower earnings in Q1’24
TotalEnergies Q1 income slides on flat production, LNG sales dip
Tellurian execs in line for millions on Driftwood LNG green light — or company sale
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