Blanche, Ed
Even under the new arrangements, PDVSA is struggling to deliver its oil. The first cargo to sail under the new deals was on the Panama-flagged tanker MT Kelly, which left Venezuela for Turkey carrying 1.96-million barrels of heavy crude in April, according to the PDVSA documents. The vessel...
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The Oil and Gas transaction space remains active, however, naturally the Energy (Oil and Gas) Profits Levy (“EPL”) (a temporary 35% levy on the ring fence profits of oil and gas companies to apply until 31 March 2028) has had an impact, and in certai...
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This stands in marked contrast to Exxon’s stance on capital allocation a couple of years ago, when I led a campaign with my former colleagues at Engine No. 1 to replace members of the oil group’s board. The company at that point had for years disregarded the market’s preference for ...