Year: 2021

Under pressure from investors, Exxon has released an Energy and Carbon Summary that for the first time in the company’s history, makes public the amount of carbon dioxide emissions produced across its value chain—so-called Scope 3 emissions. In the document, Exxon reported that its Scope 3 emissions in the upstream segment last year amounted to 570 million tons of carbon dioxide equivalent and emissions from refining operations came in at 630 million tons of carbon dioxide equivalent. Emissions from petroleum product sales were the greatest, at 730 million tons of carbon dioxide…

The last year was difficult for Ecuador’s beaten-down hydrocarbon sector. Aside from the severe fallout from the COVID-19 pandemic and sharply weaker oil prices, the industry was rocked by yet another corruption scandal and a series of environmental disasters. Those events sharply impacted oil production, will deter urgently required investment and spark greater dissent among Ecuador’s indigenous communities. Like southern neighbor Peru, most of the equatorial country’s operational oilfields and infrastructure is in Ecuador’s portion of the Amazon basin. The region is inhabited by many indigenous communities who have become…

Drilling has begun for the ASH-3 development well at the Abu Sennan licence and it is expected to provide further impetus to a production operation that exceeded expectations through 2020. The programme comes just weeks after the commissioning of a gas pipeline which unlocks additional production volumes. United owns a 22% interest in the Kuwait Energy operated well which will target Alam El Bueib reservoirs, as a follow up to the ASH-2 production well which has yielded over 1mln barrels since coming online a year ago. The well is currently…

JAKARTA – With Chevron and perhaps ExxonMobil heading for the exits, active exploration at a virtual standstill and production on an increasingly downward spiral, Indonesia’s government needs to conduct radical regulatory surgery before its oil and gas industry is doomed by the onrushing era of renewable energy. Analysts say the nationalist tide that has swept over the industry in the past six years has left Indonesia on the bottom rung of prospective foreign investment and without the financial and technical means to explore for and develop new fields independently. “The…