Category: Highlights

Court Seizes Malaysia Oil Firm Assets Amid $15 Billion Dispute

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oil

A Luxembourg court has issued seizure orders for two units of Malaysia’s state oil company Petronas as part of an arbitration case brought against the Malaysian state by the descendants of a now-defunct sultanate in the Philippines. The court case is based on a deal made in the late 19th century by European colonists of Southeast Asia with the then-sultan of Sulu for the use of local land. Now, this land is part of Malaysia, which honored the 19th-century deal until 2013 and, as part of it, paid the descendants…

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Rising Metal And Mineral Prices Could Derail The Energy Transition

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Metals and minerals prices have soared over the last year, a trend that is likely to continue as the global demand for these resources continues to increase in line with the green transition. The price of lithium, cobalt, nickel, aluminum, and copper have all risen as renewable energy projects and battery manufacturing operations expand worldwide. While the scarcity of these resources is a major concern, many energy companies are also worried about the rising cost of metals and minerals as they plan for large-scale green energy operations. Between January 2021…

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Putin’s Gift To Exxon

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hen Russia invaded Ukraine nearly a year ago, few people would have imagined that the disruption of oil and gas supplies would push the fossil fuel sector to historical highs. In fact, shareholders were more concerned about the hefty charges and writedowns that multinational oil and gas companies might be forced to take on their Russian investments. And, their worst fears came true soon enough. On February 27, 2022, just days after Russia invaded Ukraine, British energy giant BP Plc. (NYSE: BP) announced that it would exit its 19.75% shareholding…

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One Of The World’s Hottest Oil Plays Prepares For New Auction

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guyana

Guyana, one of the world’s hottest frontier oil plays, is expected to have its new oil production sharing agreement (PSA) model ready in time for its auction that runs through mid-April, according to Guyana’s VP. The oil and gas industry has been eagerly waiting for Guyana to draft new contract terms that have been a long time in coming after Guyana made it clear that oil companies wouldn’t be getting what it considered to be a sweetheart deal like the Exxon consortium did. Guyana expects the new contract model to…

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Alberta Is Fighting To Send Its Oil Abroad

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oil

Despite efforts from Canada’s Prime Minister Justin Trudeau to move away from oil sands – long hailed as the – Alberta, the country’s largest oil-producing region, is pushing to open new energy corridors with the U.S. to export its fossil fuels. As the global demand for oil and gas continues, and countries look closer to home to secure their energy needs, Alberta believes it can promote its oil sands as a means of providing the energy needed until enough green alternatives are being produced to meet the rising global energy demand.…

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