Sustained high commodity prices and increasing oil and gas supply are set to push upstream sector payments to governments to an all-time high of $2.5 trillion this year, smashing the previous record of $2.1 trillion set in 2011, Rystad Energy research shows.

Equinor has published its first Energy transition plan, which will be submitted for an advisory vote by shareholders at the company’s 2022 Annual General Meeting 11 May. The plan provides an overview of how the company is progressing towards its 2050 net zero ambition through short-term actions and medium-term ambitions.

The Biden-Harris Administration today submitted to Congress the President’s Budget for fiscal year 2023.

At its annual investor meeting on March 1, Chevron Corporation (NYSE: CVX) reported on its progress to deliver higher returns and advance a lower carbon future.

Seadrill Limited (“Seadrill” or “the Company”) (OSE ticker: SDRL) announces that it has commenced trading April 28, 2022, of Seadrill’s common shares on Euronext Expand.

W&T Offshore, Inc. has acquired the remaining working interests in the oil and gas producing properties purchased earlier this year from an undisclosed private seller. The assets are located in Federal shallow waters in the central region of the Gulf of Mexico at Ship Shoal 230, South Marsh Island 27/Vermilion 191, and South Marsh Island 73 fields. The transaction had an effective date and closing date of April 1, 2022. Cash consideration of approximately $17.5 million was paid to the seller using cash on hand. Key highlights of the transaction are as follows:

Prysmian Group is keeping pace with executing its investment plan of about €1 billion by 2024, mainly targeted at developing businesses that support the energy transition.

ExxonMobil has issued the following statement regarding the situation in Ukraine:

Transocean Ltd. (NYSE: RIG) has issued a quarterly Fleet Status Report that provides the current status of, and contract information for, the company’s fleet of offshore drilling rigs.

Westwood Global Energy Group (Westwood), a specialist energy market research and consultancy firm, has announced the appointment of Aberdeen-based Teresa Wilkie to its RigLogix team as Research Director.

On January 21, 2022, TotalEnergies announced its decision to withdraw from the Yadana field and from gas transportation company MGTC in Myanmar, both as operator and as shareholder, because the situation in this country no longer allowed TotalEnergies to make a sufficiently positive contribution.

ExxonMobil has announced detailed plans at its annual Investor Day to deliver industry-leading earnings, cash flow growth and shareholder returns, and lead in the energy transition across a range of lower-emissions scenarios.

Innovative energy startup, Legasea, participated in hosting the second transatlantic trade dialogue, being held this week in Aberdeen, which aims to boost the UK’s £200 billion trade partnership with the US.

Bosch Rexroth successfully concluded the 2021 financial year despite the persistently difficult framework conditions.

Shell plc (Shell) has announced its intent to withdraw from its involvement in all Russian hydrocarbons, including crude oil, petroleum products, gas and liquefied natural gas (LNG) in a phased manner, aligned with new government guidance.

The Board of Shell plc has announced its intention to exit its joint ventures with Gazprom and related entities, including its 27.5 percent stake in the Sakhalin-II liquefied natural gas facility, its 50 percent stake in the Salym Petroleum Development and the Gydan energy venture.