(Bloomberg) – Shell Australia is selling bp Plc its interests in the carbon-intensive Browse offshore natural gas project, one of Australia’s largest untapped gas fields. “The Browse asset is no longer a strategic fit in the context of Shell’s global portfolio,” Shell said in a statement Saturday, without elaborating on the size of...

(Bloomberg) – Exxon Mobil Corp. has a high bar for potential acquisitions and will only pursue a large transaction if it finds unique ways of extracting value from a deal, said Chief Financial Officer Kathy Mikells. “Exxon Mobil is a pretty picky acquirer,” Mikells said during an interview. The executive team is focused on “ensuring t...

(Bloomberg) – Chevron Corp’s oil production in Venezuela has reached 100,000 bpd and could rise 50% this year, Chief Executive Officer Mike Wirth said in an earnings call Friday. The U.S. oil major operates three projects in the country along with state-run Petroleos de Venezuela SA. Since U.S. President Joe Biden eased sanctions on Venez...

(Bloomberg) – Oil demand will continue to increase, helping send crude prices to $80 to $100 per bbl later this year, according to the incoming Chief Executive Officer of Pioneer Natural Resources Co. As dealmaking starts to heat up in the industry, Pioneer, one of the dominant independent explorers in the prolific Permian Basin, will have...