DNO, the Norwegian oil and gas operator, has completed the acquisition of a 25% interest in the Arran field on the UK Continental Shelf from ONE-Dyas E&P.The field is operated by Shell UK (44.57%) and was brought on stream in 2021 as a subsea tie-back to the Shell-operated Shearwater A platform…
Equinor and the Troll partners have decided to invest just over $1.13 billion (NOK 12 billion) to further develop the gas infrastructure in the Troll West gas province, offshore Norway.Equinor said the investment would accelerate production…
Shell reported first-quarter profit of $7.7 billion on Thursday, exceeding expectations as disruption to Red Sea shipping and Russian refining boosted oil trading and liquefied natural gas production rose.The company said it will buy back a further $3…
Negotiations for the development of Tanzania's $42 billion liquefied natural gas export plant have been delayed by proposed government changes to a financial agreement reached last year, a government spokesperson and two company sources said…
U.S.-based marine power, data, and services company Ocean Power Technologies (OPT) is approaching 15MWh of renewable energy production from its family of PowerBuoys, which primarily exploit wave energy to generate power.The recent launch of…
Chinese companies won bids to explore five Iraqi oil and gas fields on Saturday in a licensing round for hydrocarbon exploration that was primarily aimed at ramping up gas production for domestic use.An Iraqi Kurdish company also took two of…
Australia's Labor government on Thursday laid out a strategy to boost natural gas development even as it remains committed to net zero carbon emissions by 2050, highlighting demand from key Asian trade partners.Australia is one of the world's largest exporters of liquefied natural gas (LNG)…
A BP-Eni joint venture and Rhino Resources Namibia have signed an agreement for a 42.5% interest in a block in the country's offshore Orange Basin, the companies said on Friday.The agreement is Azule Energy's first investment in Namibia. Azule…
So far, the Israel-Hamas conflict has had limited impact on the global economy. However, an escalation to a direct war between Israel and Iran, could result in oil prices rising to $150 a barrel and global output cut by $1 trillion, according…
BP reported on Tuesday first-quarter earnings of $2.7 billion, down 40% from a year earlier and missing forecasts due to lower energy prices and a U.S. refinery outage, even as oil and gas production increased.The London-based company held its dividend at 7…
Offshore energy is on a growth trajectory. Rystad Energy wrote in February 2024 that upstream oil majors were diving in to deeper waters. “Despite tightened budgets, frontier drilling is fueling optimism for a productive year, particularly deepwater projects in the Atlantic Margin…
Namibia's national oil company has signed a development deal with Chevron that will see the U.S. oil major take an 80% operating working interest in an offshore block in the Walvis Basin, it said on Monday.The farm-out agreement with Chevron…
Esgian reports an eventful week with contract confirmations, terminations and suspensions in its Week 18 Rig Analytics Market Roundup.Report SummaryContractsBurullus Gas Company, the self-operated joint venture between Shell Egypt, the Egyptian Natural Gas Holding Company (EGAS)…
Namibia is aiming for first oil production from TotalEnergies’ Venus field in 2029/2030, the country's petroleum commissioner Maggy Shino said on Wednesday.The southern African country, which is yet to produce any oil or gas, has become a global…
Cyprus said on Thursday it wanted to see improvements to Chevron-led plans to extract gas from an offshore field, giving the consortium led by the U.S. major six months to meet its requirements.There have been protracted talks on the future…
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