Chevron Corporation has announced a 2021 organic capital and exploratory spending program of $14 billion and lowered its longer-term guidance to $14 to $16 billion annually through 2025.
GIEK’s mission is to promote Norwegian exports – and it is doing that big time in the offshore wind market both in Europe and further afield. Having reached around NOK 4bn in June, its latest NOK 3.6bn (GBP 300m) risk-sharing splash supports supply contracts for Norwegian companies Aibel and OHT Alfa Lift AS to the Dogger Bank mega-project in the North Sea.
Despite concerns that Covid-19 could drive down discovered volumes to their lowest levels in decades, exploration activity has been resilient this year. Found resources already exceed 8 billion barrels of oil equivalent (boe) and are projected to settle at around 10 billion boe by year-end, a Rystad Energy analysis reveals.
McDermott International, Ltd has announced that it has secured approximately $560 million in new capital through a series of transactions expected to close by the end of the year. McDermott has secured commitments from certain existing lenders and shareholders (the "Investors") for these transactions, as well as approval from a steering committee comprised of certain existing letter of credit and term loan lenders (the "Steering Committee").
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