Somali President Mohamed Abdullahi Farmajo has signed landmark petroleum legislation into law to help open up a new frontier market, the oil ministry said on Saturday. The upper house of Somalia’s parliament in January approved the petroleum…
A latest research revealed that the upstream sector accounted for the bulk of mergers and acquisitions (M&A) in the global oil and gas industry in 2019, generating some high-value transactions during the process.According to GlobalData's theme report…
Norway's Aker BP beat fourth-quarter profit forecasts on Tuesday and said it expects its oil and gas output to jump 36% in 2020, the first full year of production from the giant Johan Sverdrup oilfield.Chief Executive Karl Johnny Hersvik said…
Shares of London-listed Egdon Resources jumped on Tuesday following news that oil giant Shell farmed into Egdon's UK offshore licenses P1929 and P2304.Under the agreement, Shell will become the operator and will acquire a 70% interest in both blocks…
Some 58.5 billion cubic meters (bcm) of natural gas were shipped from Russia to the EU via the Nord Stream pipeline in the Baltic Sea.Nord Stream AG, the operator of the 1,224-kilometer twin pipeline shared the number on Wednesday.It said: 'Thanks to uninterrupted operation throughout the year…
Equinor joined other major European oil and gas companies on Thursday by including emissions from the fuel it sells to customers in its carbon reduction targets as investors step up the pressure on fossil fuel producers. By including so-called…
BP plans deep cuts to its carbon emissions by 2050, setting one of the oil sector's most ambitious targets, as part of the biggest overhaul in the 111-year old company's history by new chief executive Bernard Looney. The targets set on Wednesday put BP ahead of rivals Royal Dutch Shell and Total…
Russian gas giant Gazprom has supplied its first billion cubic meters of gas via the TurkStream gas pipeline in the Black Sea, just weeks after the official opening.Of that amount, about 54 percent went to the Turkish gas market and some 46 percent was delivered to the Turkey-Bulgaria border…
Demand from the world’s top oil companies for floating drilling units has climbed steadily in the past two years and is set to rise further through 2020 and 2021.According to Rystad Energy, the energy research and business intelligence company…
Lawyers representing former Nigerian oil minister Dan Etete told Reuters on Friday it was 'incredible' that a court had issued a warrant for his arrest in relation to a $1.3 billion oil deal scandal nine years after it was struck. Economic and…
A slew of reports so far this year suggest a confluence of the right factors for a strong, sustained surge in contracting activity — especially in drilling — seems to be developing, at least in Europe.Several indicators were in January pointing to key some snowballing of new activity…
It is up to governments to drive decarbonisation and consumers will have to pay more to achieve carbon neutrality, Total's chief executive said, adding the French firm has no intention of moving away from oil and gas production.Oil firms should…
The majority of high impact offshore exploration wells in 2020 will be drilled in Africa and the Americas, Rystad Energy, an energy research group based in Norway has said.Rystad Energy rates wells as high-impact by an assessment of several factors…
Cyprus is blocking new European Union sanctions against several officials from Russia-annexed Crimea in a bid to secure EU backing for tougher action against Turkey in a separate row over drilling for hydrocarbons, three diplomatic sources said…
First oil has started flowing from the BP-operated Alligin field in the West of Shetland region, offshore UK.Alligin is a part of the Greater Schiehallion Area and has been developed as a two-well subsea tie-back into the existing Schiehallion…
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