Thursday, June 8, 2023
  • Submit news
  • Contact
  • DMCA
  • Cookie Privacy
  • Privacy Policy
  • Terms of Use
Oil Market News
  • Home
  • Marketdaily
  • Price
  • crudenow
  • Companies
  • politics
  • Gas
  • investing
  • Stock
  • OPEChot
  • brend
  • ships
Oil Market News
Home Market

$2.6 billion Alaskan oil project to help Santos boost output

10 months ago
in Market
$2.6 billion Alaskan oil project to help Santos boost output
Share on FacebookShare on Twitter


(Bloomberg) — Santos Ltd. has given the go-ahead for a $2.6 billion oil field project in Alaska to expand its production beyond the Asia-Pacific region. 

The producer and joint venture partner Repsol SA took a final investment decision on phase 1 of the Pikka development on Wednesday, Adelaide, South Australia-based Santos said in an earnings statement. The project is expected to produce 80,000 barrels a day of oil from 2026. 

Santos, which became one of the world’s top 20 producers following its merger with domestic rival Oil Search Ltd. last year, has been seen as overly dependent on the Asia-Pacific region, with all its major developments in Australia and Papua New Guinea. The company on Wednesday said net profit in the first half more than tripled from a year earlier to $1.2 billion on the back of higher prices for oil and natural gas. 

“The project will add further diversification to our portfolio and reduces geographic concentration risk,” Santos Chief Executive Officer Kevin Gallagher said in a statement. “Santos has emission reduction plans to achieve scope 1 and 2 net-zero emissions by 2040 and in-line with that commitment, Pikka will be a net-zero project.”

Santos has entered into memorandums of understanding with Alaska Native Corporations to deliver carbon offset projects, it said. The company is the operator of Pikka and has a 51% stake while Repsol holds the rest. 





www.worldoil.com

Latest Oil News

Canadian refiner Irving Oil explores options including sale

Canadian refiner Irving Oil explores options including sale

June 8, 2023
UK watchdog bans Shell, Repsol and Petronas greenwashing ads

UK watchdog bans Shell, Repsol and Petronas greenwashing ads

June 7, 2023
Opec+ is not on board with Saudi’s ‘whatever it takes’ message

Opec+ is not on board with Saudi’s ‘whatever it takes’ message

June 6, 2023
Saudi Arabia seeks to boost oil price with output cut of 1mn barrels a day

Saudi Arabia seeks to boost oil price with output cut of 1mn barrels a day

June 5, 2023
Tags: AlaskanbillionboostoilOnshore productionoutputProjectSantos
Previous Post

Opinion | Despite Boiling Planet, Big Oil Keeps Humanity on Path of Climate

Next Post

Windfall tax/housebuilders: optics trump logic when targeting business

Related Posts

Canadian refiner Irving Oil explores options including sale

Canadian refiner Irving Oil explores options including sale

by Oil Market News
June 8, 2023
0

Irving Oil, the owner of Canada’s largest petroleum refinery, has launched a strategic review of the private company that could...

UK watchdog bans Shell, Repsol and Petronas greenwashing ads

UK watchdog bans Shell, Repsol and Petronas greenwashing ads

by Oil Market News
June 7, 2023
0

The UK’s advertising watchdog has banned a group of big oil and gas company advertisements for being misleading as part...

Opec+ is not on board with Saudi’s ‘whatever it takes’ message

Opec+ is not on board with Saudi’s ‘whatever it takes’ message

by Oil Market News
June 6, 2023
0

Saudi Arabia’s energy minister Prince Abdulaziz bin Salman has claimed to be inspired by former Federal Reserve chair Alan Greenspan,...

Saudi Arabia seeks to boost oil price with output cut of 1mn barrels a day

Saudi Arabia seeks to boost oil price with output cut of 1mn barrels a day

by Oil Market News
June 5, 2023
0

Saudi Arabia will cut oil production by 1mn barrels a day in a bid to prop up oil prices, it...

Opec bans prominent media groups from Vienna meeting

Opec bans prominent media groups from Vienna meeting

by Oil Market News
June 4, 2023
0

Opec has barred several media groups from attending its crucial production meeting in Vienna this weekend, in a move officials...

Saudi Arabia’s ‘prickly prince’ of oil bristles as crude price slides

Saudi Arabia’s ‘prickly prince’ of oil bristles as crude price slides

by Oil Market News
June 3, 2023
0

Prince Abdulaziz bin Salman spent almost two decades as a relatively low-profile member of Saudi Arabia’s Opec delegation. But since...

Next Post
Windfall tax/housebuilders: optics trump logic when targeting business

Windfall tax/housebuilders: optics trump logic when targeting business

Subscribe
Notify of
guest
guest
0 Comments
Inline Feedbacks
View all comments

Trend Oil News

Biden to float tax penalties on oil companies reaping record profits

Biden to float tax penalties on oil companies reaping record profits

7 months ago
Crude Oil Shielded From Bond and Stock Market Rout

The Cushing® MLP & Infrastructure Total Return Fund Announces Fund Name Change

4 months ago
Oxy’s Permian output slump drives millions in midstream losses

Oxy’s Permian output slump drives millions in midstream losses

1 year ago
WTI Crude Oil Weakens on Low Demand From China and Recession Worries –

February WTI Crude Oil Contract Closes Down US$1.17; Settles at US$76.11 per Barrel –

6 months ago
Biden admin proposes methane rules for public lands

Biden admin proposes methane rules for public lands

6 months ago
ADVERTISEMENT
Canadian refiner Irving Oil explores options including sale

Canadian refiner Irving Oil explores options including sale

June 8, 2023

UK watchdog bans Shell, Repsol and Petronas greenwashing ads

June 7, 2023

Opec+ is not on board with Saudi’s ‘whatever it takes’ message

June 6, 2023

Saudi Arabia seeks to boost oil price with output cut of 1mn barrels a day

June 5, 2023

Opec bans prominent media groups from Vienna meeting

June 4, 2023

Saudi Arabia’s ‘prickly prince’ of oil bristles as crude price slides

June 3, 2023

Crude Oil

4 Days from Deadline, EU Fails To Agree On Russian Oil Products Price Cap

4 Days from Deadline, EU Fails To Agree On Russian Oil Products Price Cap

February 1, 2023
Oil rises after U.S. fuel stocks draw down; economic concerns loom

Oil prices settle steady on higher U.S. demand, weaker dollar

January 31, 2023
S&P 500 Down 1%; Crude Oil Drops Over 2%

S&P 500 Down 1%; Crude Oil Drops Over 2%

January 30, 2023
Russia Can’t Replace the Energy Market Putin Broke

Russia Can’t Replace the Energy Market Putin Broke

January 29, 2023

Investing

Orbital Sidekick Raises $10M Investment to Monitor Oil and Gas Industry from Space 

Orbital Sidekick Raises $10M Investment to Monitor Oil and Gas Industry from Space 

February 1, 2023
Crude Oil Shielded From Bond and Stock Market Rout

Clean-energy investing poised to top money backing oil and gas after hitting a record

January 31, 2023
Crude Oil Shielded From Bond and Stock Market Rout

The Cushing® MLP & Infrastructure Total Return Fund Announces Fund Name Change

January 30, 2023
Boeing’s 747, the original jumbo jet, prepares for final send-off By Reuters

Boeing’s 747, the original jumbo jet, prepares for final send-off By Reuters

January 29, 2023

Market

Canadian refiner Irving Oil explores options including sale

Canadian refiner Irving Oil explores options including sale

June 8, 2023
UK watchdog bans Shell, Repsol and Petronas greenwashing ads

UK watchdog bans Shell, Repsol and Petronas greenwashing ads

June 7, 2023
Opec+ is not on board with Saudi’s ‘whatever it takes’ message

Opec+ is not on board with Saudi’s ‘whatever it takes’ message

June 6, 2023
Saudi Arabia seeks to boost oil price with output cut of 1mn barrels a day

Saudi Arabia seeks to boost oil price with output cut of 1mn barrels a day

June 5, 2023

OPEC

US Close- Fed signals more hikes coming, Powell says disinflation process begun, ADP

US Close- Fed signals more hikes coming, Powell says disinflation process begun, ADP

February 1, 2023
‘OPEC does not control the price’: OPEC President | OPEC News

‘OPEC does not control the price’: OPEC President | OPEC News

January 31, 2023
OPEC+ Closely Watches Chinese Factory Data

OPEC+ Closely Watches Chinese Factory Data

January 30, 2023
Week Ahead: FOMC, BOE, ECB, OPEC, NFP and Big Tech Earnings

Week Ahead: FOMC, BOE, ECB, OPEC, NFP and Big Tech Earnings

January 29, 2023
  • Submit news
  • Contact
  • DMCA
  • Cookie Privacy
  • Privacy Policy
  • Terms of Use

© 2022 OilMarket.News

No Result
View All Result
  • Home
  • Market
  • Price
  • crude
  • Companies
  • politics
  • Gas
  • investing
  • Stock
  • OPEC
  • brend
  • ships

© 2022 OilMarket.News

wpDiscuz
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.