Here are some of Rigzone’s top stories during the last week, just in case you missed them…
ExxonMobil Rips Up $30B Growth Plan
Bloomberg reported that Exxon Mobil Corp. is ripping up its debt-fueled, $30 billion-a-year plan to rebuild an aging worldwide portfolio after cash flow evaporated. The shift represents an about-face for the company, Bloomberg highlighted.
Marathon Petroleum Announces $21B Sale
Marathon Petroleum has entered into a definitive agreement with 7-Eleven for the sale of Speedway for $21 billion in cash. The deal is expected to close in the first quarter of next year.
Offshore Drilling Contractor Files Chapter 11
Offshore drilling contractor Noble Corp. has filed for bankruptcy. The company is one of the largest offshore drilling contractors in the world today, according to its website.
BP Oil Business Will Shrink Dramatically
BP’s oil and gas business will shrink dramatically, while its low carbon business will grow strongly, according to Wood Mackenzie. BP is planning a 40 percent oil and gas production decline and a ten-fold increase in low carbon investment by 2030.
What Do Oil Groups Think of Biden Energy Plan?
TXOGA, TIPRO, IPAA and the API all share their views. Energy industry recruiters and analysts also have their say.
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