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Oil & Gas

Oil Prices Post 3% Annual Decline

Oil Prices Post 3% Annual Decline

LNG
03-12-2024

Egypt seeking long-term LNG deals with U.S. companies
Egypt is currently in talks with U.S. and other foreign companies to purchase long-term volumes of liquefied natural gas (LNG) instead of relying on the more costly spot market, according to an exclusive Reuters report, as the country’s gas prod
Brazil
03-12-2024

Petrobras initiates FPSO bid for Sergipe Deep Waters project in Brazil
Brazilian state-owned oil company Petrobras has commenced the procurement process for up to two FPSO units for the Sergipe Deep Waters (SEAP) project in the Sergipe-Alagoas Basin in Brazil.The procurement process is being implemented in a build, operate a
Natural Gas
03-12-2024

TotalEnergies plans $750m gas project in Nigeria to boost LNG
French energy companyTotalEnergiesis considering a $750m (N1.25trn) gas project in Nigeria to boost LNG supplies, reportedBloomberg.The project, set to be sanctioned next year, followsa $500m investmentin the Ubeta onshore field, a joint venture with the
Oil&Gas Drilling
03-12-2024

Velesto Energy Brings Forward Rig Survey Following Contract Suspension
Carigali Hess Operating Company has suspended the contract for the Velesto Energy jackupNAGA 8, due to early completion of the drilling program.Velesto now plans to bring forward the rig’s Special Periodic Survey forNAGA 8to position it for future w
Oil&Gas Drilling
03-12-2024

Newmed Energy Balkan Agrees To Join Omv In Black Sea Bulgarian Block
NewMed Energy Balkan has a contingent agreement to acquire a 50% interest in Han Asparuh Block 1-21 Han Asparuh in the western Black Sea from OMV Offshore Bulgaria.Under the proposed transaction, NewMed would cover OMV’s share of the costs of th
Natural Gas
03-12-2024

Shearwater acquiring large 2D survey offshore India’s west coast
Shearwater Geoservices Holding will acquire a five-month 2D seismic survey offshore western India, as part of the country’s National Seismic Program.TheSW Thuridurwill start work on the 15,500 line-km program during the current quarter.Irene Waa
Crude Oil
03-12-2024

Akeng Deep oil find offshore Equatorial Guinea not commercial
According to partner Panoro Energy, the S-6 well on the Akeng Deep prospect in Block S offshore encountered oil zones in the Upper Albian before reaching a TVD of around 4,030 m.John Hamilton, CEO of Panoro, said that although the find was not commercial,
Norway
03-12-2024

North Sea Brage Partners Get Go-ahead To Explore Eastern Extension
\\OKEA and its partner in the Brage field in the Norwegian North Sea have secured a new production license following an out-of-round application.It follows their Kim discovery last year within Brage and evaluation of the surrounding Sognefjord East area f
Oil&Gas Drilling
03-12-2024

CNOOC starts production on two oilfield projects offshore China
CNOOC says the Huizhou 26-6 oilfield development in the Pearl River Mouth Basin and the Jinzhou 23-2 oilfield project in the Bohai Sea will achieve peak production in 2027.CNOOC has delivered first production from its Huizhou 26-6 oilfield development in
Oil&Gas Drilling
03-12-2024

Murphy Targets Late 2026 Startup For Lac Da Vang FSO Offshore Vietnam
Murphy Oil subsidiary Murphy Cuu Long Bac Oil has contracted PTSC Asia Pacific to supply, charter and operate an FSO vessel for the Lac Da Vang oilfield development in Block 15-1 offshore Vietnam.PTSC AP is a joint venture between PetroVietnam Technical S
Norway
03-12-2024

Norway Carbon Capture Plant Marks Milestone in Longship Project
Heidelberg Materials AG’s carbon-capture plant at the Brevik cement factory in Norway is fully assembled, the government said, marking a key milestone in a $2.6 billion plan to sequester emissions under the North Sea.The German company aims to c
Crude Oil
03-12-2024

Gran Tierra Makes Oil Discovery in Ecuador
Gran Tierra Energy Inc. has reported a seventh oil discovery in Ecuador, which it said confirmed the significant potential of the Arawana/Zabaleta field area.The Calgary, Alberta-based company said that its Zabaleta-K1 well is the fourth exploration well
United States
03-12-2024

BOEM Alaska OCS Region Gets New Environmental Studies Chief
The United States Bureau of Ocean Energy Management’s (BOEM) Alaska Outer Continental Shelf (OCS) Region has brought a new figure onboard in Heather Parker, who has been appointed chief of the Environmental Studies Program.In a media release, BO
Oil&Gas Drilling
03-12-2024

North America Adds Rigs
North America added three rigs week on week, according to Baker Hughes’ latest North America rotary rig count, which was published on November 27.The U.S. cut one rig week on week and Canada added four rigs during the same timeframe, taking the
Oil&Gas Drilling
03-12-2024

Panama Bars 6 Ships From Flying Its Flag After UK Sanctions
Panama is canceling the registration of six ships sailing under its flag that were sanctioned by the UK last week, a boost for Western nations that have slapped sanctions on Moscow’s oil exports.The Panama Maritime Authority said it will carry o
Crude Oil
03-12-2024

GeoPark to Acquire Colombia Assets from Repsol for $530MM
Latin American oil and gas firm GeoPark Limited is acquiring upstream oil and gas assets in Colombia from Repsol.GeoPark said in a news release that it has signed sale and purchase agreements (SPAs) with Repsol Exploración S.A. and Repsol E&
Natural Gas
03-12-2024

EU Sets Intermediate Targets for 2025 Gas Stockpiling Campaign
The European Commission has set intermediate minimum filling levels for member states’ underground gas storage (UGS) facilities next year toward the annual bloc target of at least 90 percent by November.The implementing regulation specifies targ
Oil Price
02-12-2024

Oil Rises With Focus on China’s Economy, OPEC+ Supply Meeting
Oil rose along with Asian equities on signs of a slow recovery in China’s economy, as traders look to Thursday’s OPEC+ meeting for further direction.Brent futures traded around $72 a barrel after slipping 3% last week, with West Texas
Oil & Gas Trade
02-12-2024

German Oil Refinery Supplies via Poland Unaffected by Leak
Oil supplies to German refineries via Poland were unaffected by a leak reported Sunday in one of the two Druzhba pipeline links, Polish state pipeline operator PERN SA said in a website statement.Emergency workers secured the area around the pipeline near
LNG
02-12-2024

Gazprom Faces More Claims After Austrian Utility Halts Payment
The decision by an Austrian utility to stop paying for supplies from Gazprom PJSC may set a precedent for others to follow as Europe looks to cut its dependence on the Russian gas giant.Gazprom responded by halting supplies to Austria’s OMV AG h
LNG
02-12-2024

FSRU Toscana Offshore Italy Back In Service
OLT Offshore LNG Toscana has resumed full operations at the FSRU Toscana terminal offshore western Italy.Following repairs at a yard in southern France, the FSRU was recently re-installed at the offshore location and reconnected to Italy’s natio
Oil&Gas Drilling
02-12-2024

Velesto Energy Brings Forward Rig Survey Following Contract Suspension
Carigali Hess Operating Company has suspended the contract for the Velesto Energy jackupNAGA 8, due to early completion of the drilling program.Velesto now plans to bring forward the rig’s Special Periodic Survey forNAGA 8to position it for future w
Oil & Gas Supply
02-12-2024

Newmed Energy Balkan Agrees To Join OMV In Black Sea Bulgarian Block
NewMed Energy Balkan has a contingent agreement to acquire a 50% interest in Han Asparuh Block 1-21 Han Asparuh in the western Black Sea from OMV Offshore Bulgaria.Under the proposed transaction, NewMed would cover OMV’s share of the costs of th
Oil & Gas Trade
02-12-2024

Totalenergies Plans $750m Offshore Nigeria Gas Project To Boost LNG Supply
TotalEnergies may greenlight a $750 million gas project in Nigeria next year, potentially signaling that the African nation’s efforts to revive investment in its hydrocarbon production are making progress.Earlier this year, the French company ap
Oil Price
02-12-2024

Geopark Announces Plans To Acquire Repsol Upstream Assets In Colombia
GeoPark has announced the signing of Sales and Purchase Agreements (SPAs) with Repsol Exploración S.A. and Repsol E&P S.A.R.L to acquire Repsol upstream oil and gas assets in Colombia.The potential acquisition would incorporate high-quality

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