LNG

ExxonMobil Corp., the largest US oil and natural gas major, plans to acquire Denbury Inc., the developer of carbon-capture and storage (CCS) solutions and with assets in the LNG production hub area of the US Gulf Coast, for $4.9 billion in an all-share transaction.

Air Products, the leading US liquefied natural gas equipment-maker and industrial gases company, reported an increase in income from operations at it pursued its role in LNG worldwide and in industrial gases projects in Saudi Arabia and China.

US major ExxonMobil has signed a sales and purchase agreement with Zhejiang Provincial Energy Group to provide liquefied natural gas supplies over a period of 20 years.

ExxonMobil and Qatar Petroleum, the leading global liquefied natural gas stakeholders, have made a large natural gas discovery offshore Cyprus in the Eastern Mediterranean, opening more prospects for regional LNG production.

Feb 27 (LNG) - ExxonMobil Corp., one of the main global LNG producers with stakes in multiple Trains in Qatar and elsewhere, said it added 4.5 billion oil-equivalent barrels of proved oil and gas reserves in 2018, replacing 313 percent of the year’s production. ExxonMobil's proved reserves totaled 24.3 billion oil-equivalent barrels at year-end 2018. Liquids represented 64 percent of the reserves, up from 57 percent in 2017.

   “We continue to add high-value, attractive assets to our portfolio that have positioned the company for long-term growth,” said Darren W. Woods, ExxonMobil chairman and Chief Executive officer.

   ExxonMobil is strengthening its position in the US onshore shale basins while developing the Golden Pass LNG plant in Texas with Qatargas. “Proved additions from unconventional plays totaled approximately 1.2 billion oil-equivalent barrels. Significant additions in the Permian Basin are supported by ExxonMobil’s growth plan including increased drilling activity and infrastructure development,” it stated.