UK North Sea-focused oil and gas company Jersey Oil & Gas said Friday it was in advanced exclusive negotiations with a significant UK North Sea operator over a farm-out of its interest in the Greater Buchan Alpha offshore licenses.Jersey Oil and Gas has been working to develop the Greater Buchan Area oil production hub project in the UK North Sea, to serve as a hub through which oil discoveries made by several operators in the Greater Buchan Area in the UK North Sea would be developed…
Indonesia has put three oil and gas exploration blocks out for tender in its first bidding round of the year, with estimated resources of more than 2.4 billion barrel of oil and 9 trillion cubic feet of gas, its energy ministry said.Indonesia plans to offer 10 oil and gas working areas this year…
Windfall taxes mean oil and gas producers in the British North Sea will likely leave 500 million barrels of oil equivalent in the ground over the next decade, the equivalent of one year's output in the aging basin, industry group OEUK said on Tuesday…
Despite substantial revenues generated by high oil and gas prices in 2022, oil companies are being slow to reinvest and are instead focusing on returning value to shareholders and reducing debt, energy industry intelligence group Westwood said in its 2022 review of upstream oil and gas…
Indonesia plans to offer 10 oil and gas working areas this year, including a block in the South China Sea, amid efforts to boost energy production and make new discoveries, a senior energy ministry official said on Monday.In 2022, Indonesia…
Britain's opposition leader Keir Starmer said on Thursday there would be no investment in new oil and gas fields in Britain under a Labour government - a big change from current UK energy policies.Starmer said during a panel discussion at the…
Britain's first oil and gas exploration licensing round since 2019 attracted 115 bids, up from 104 in the last round, with the licences likely to be awarded from the second quarter, the North Sea Transition Authority (NSTA) said on Tuesday. Britain's…
Shell held talks with Harbour Energy to sell its Norwegian oil and gas fields last year but could not reach a deal due to gas price volatility and uncertainty over the long-term outlook, three company sources told Reuters. London-based Shell…
The British government stood firm on its windfall tax on the oil and gas sector in a meeting with industry executives on Friday, two sources with knowledge of what was discussed said.Finance Minister Jeremy Hunt rebuffed requests from North…
British finance minister Jeremy Hunt said on Thursday the government would increase a windfall tax on oil and gas firms and extend it to power generation firms as he seeks to raise money to plug a major hole in the public finances.Soaring oil and…
Protecting Norway's gas exports to Europe against sabotage is a top priority for the country's authorities, a senior security official told Reuters, including helping oil firms protect themselves against Russian attempts to gather intelligence…
India is offering 26 oil and gas blocks and 16 coal bed methane blocks in its latest exploration licensing round, according to the country's upstream regulator, as the world's third largest oil consumer seeks to boost local output.'There is…
Britain on Friday launched its first oil and gas exploration licensing round since 2019 on Friday to try and boost domestic hydrocarbon output as Europe weans itself off Russian fuel.The British North Sea, home to the global Brent benchmark grade…
Norway on Wednesday was beefing up security throughout its oil and gas sector to protect against possible sabotage after several countries said two Russian pipelines to Europe spewing gas into the Baltic had been attacked.A military expert warned that the security of the Nordic country's oil sector…
Britain’s oil and gas industry body called for new drilling licenses in the North Sea and rapid investment in the sector to mitigate the impact of high prices on consumers as the country grapples with the worst energy crisis in decades.The incoming…
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