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TotalEnergies sticks to winning formula
TotalEnergies is an outlier among other majors for remaining committed to low-carbon investments while continuing to replenish and expand its ample oil and gas portfolio, with an appetite for high risk/high return projects.
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TotalEnergies and partners expect to produce 25,000bl/d from Lapa Southwest
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Exodus from Canada’s oil sands continues
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Margins narrowed considerably in the third quarter but still remain elevated for the time of year, as the continent continues to adapt following Russia’s invasion of Ukraine
The Pasca A and P’Nyang developments are now in doubt
Papua New Guinea PNG ExxonMobil TotalEnergies
Simon Ferrie
22 April 2021
Follow @PetroleumEcon
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Papua New Guinea risks LNG ambitions

The county’s negotiating tactics are damaging its reputation among developers

Papua New Guinea’s clumsy attempts to secure greater returns from LNG projects continue to discourage investors, particularly as the country was already seen as challenging given its difficult terrain, limited infrastructure, frequent civil unrest, high level of corruption and potential for earthquakes. At least one major development—the Total-operated 5.33mn t/yr Papua LNG scheme—remains on track in the resource-rich island nation, while a smaller scheme—Pasca A—has become the latest project thrown into doubt by government negotiation tactics.   The Papua LNG partners—comprising France’s Total (40.1pc), ExxonMobil-subsidiary InterOil (36.5pc) and ASX-listed Oil Search (22.8pc)—signed a fis

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