PGNiG announced it has made a discovery in the Shrek prospect in the Norwegian Sea, about 210 kilometers northwest of Brønnøysund.Based to preliminary estimates, recoverable resources range between 19 million and 38 million barrels of oil equivalent (boe)…
Greenpeace activists boarded two Royal Dutch Shell oil platforms in the British North Sea on Monday in protest against plans to leave parts of the giant structures in place after production shuts down.Pictures provided by Greenpeace show two people in yellow hats scaling one of giant two large…
Israel-focused Energean Oil & Gas Plc on Monday agreed to sell Edison E&P North Sea assets to Neptune Energy Group for up to $280 million, as part of an ongoing plan to sell non-core assets.Energean, which is focused in the Mediterranean, will…
The Norwegian Petroleum Directorate (NPD) has announced the appointment of Ingrid Solvberg as Director for the Norwegian Sea and Barents Sea, replacing Bente Nyland.According to a note from NPD, Sølvberg was appointed by the King in Council on 11 October…
BP will take charges of $2 to $3 billion in the third quarter, the British energy firm said on Friday, as it looks to reach divestments worth $10 billion by the end of 2019, a year ahead of schedule.In a statement, London-based BP said it expects…
Oil prices jumped more than 2% on Friday, October 11, 2019, after Iranian media said a state-owned oil tanker had been struck by missiles in the Red Sea near Saudi Arabia, raising the prospect of supply disruptions weeks after attacks on Saudi oil plants…
Fance's Total SA, the big winner in a Brazilian auction of offshore oil concessions on Thursday, said it will not participate in a bigger auction scheduled for November 6 of the so-called Transfer of Rights area in Brazil's pre-salt region.The company's chief executive officer…
Ten companies on Thursday agreed to pay more than $2 billion for the exploration and production rights in 12 offshore oil blocks in Brazil, in what could be a promising sign for even bigger upcoming oil auctions.The most heavily sought after…
Brazil's mines and energy minister said the positive results of Thursday's round of bidding for the country's offshore oil blocks point to successful auctions later this year of the so-called Transfer of Rights area and pre-salt oil find.Minister…
Brazil's Federal Audit Court known as the TCU unanimously approved on Wednesday the ground rules for a major auction of pre-salt oil concessions in a 'transfer of rights' (TOR) area off the country's southeastern coast.The government expects to raise 106 billion reais ($25…
Gabon, sub-Saharan Africa’s eighth largest oil producer, last week participated in the last of its earlier scheduled nine events held in North America, Asia, Europe and Africa, to popularize the 12th shallow and deep water licensing round with only three months before the bidding process is closed…
Brazil’s offshore oil and gas sector: it’s complicated, challenging and rife with opportunity.Brazil today is seeing offshore activity increase, production is on the rise, and its government has made significant strides to remove obstacles for investment…
New currency controls enforced by the Bank of Central African States (BEAC) could ruin the oil and gas industry in the Gulf of Guinea and 'destroy' Equatorial Guinea's economy, the country's oil minister told Reuters on Wednesday.Equatorial Guinea…
BP PLC, Chevron Corp and Royal Dutch Shell PLC are among firms that will compete for exploration and production rights off the Brazilian coast on Thursday, in the first of three oil bidding rounds scheduled for coming weeks.Combined, the minimum…
Angola wants to cash in on the roughly 3 billion cubic feet per day of associated natural gas it produces, most of which is now flared, the petroleum minister said on Wednesday.The announcement of efforts to generate more revenues by reducing…