Petrobras has welcomed its P-79 floating production, storage and offloading (FPSO) unit to the Búzios field in Brazil’s Santos Basin pre-salt, in line with the planned schedule.The unit, capable of producing 180,000 barrels of oil per day and compressing 7.2 million cubic meters of gas per day, was towed to location with crew onboard, a strategy previously used with P-78 aimed at reducing the time to first production…
Norwegian oil and gas firm Vår Energi and its partner Kistos Energy have drilled a dry well in the Balder area in the North Sea.The well 25/8-C-23 D, dubbed Prince Updip, was drilled in production license 027, from the Ringhorne platform, just over 200 kilometers west of Stavanger…
TotalEnergies is asking the French government and EU Commission to clarify an EU ban on Russian liquefied natural gas (LNG) imports, CEO Patrick Pouyanne said on Wednesday.'It appears a European company cannot market Russian LNG, which we did not initially anticipate…
Norwegian oil and gas investments are expected to decline this year and next as many field developments are completed while fewer new projects begin, a quarterly survey of the industry showed on Thursday.Norway produces about 2% of global oil and meets about 30% of Europe's gas needs…
Libya on Wednesday awarded oil and gas exploration blocks to foreign oil companies, including Chevron, Eni, QatarEnergy and Repsol, in its first licensing round in nearly two decades as it seeks to revitalise the sector despite ongoing political division…
ORLEN Upstream Norway has agreed to acquire a 25% interest in production license PL293 in the North Sea from Vår Energi, which covers the unconventional Afrodite gas discovery.The Afrodite gas discovery has the potential to deliver nearly 2 billion cubic meters of natural gas net to ORLEN…
The U.S. Treasury Department on Tuesday issued a general license to facilitate the exploration and production of oil and gas in Venezuela, a long-awaited step that could help increase output in the country.Washington has relaxed sanctions on Venezuela's energy industry since U…
Egypt has directed international oil companies to double production by 2030, Energean International CEO Nicolas Katcharov told Reuters on Tuesday, saying existing contracts must be revised to spur new investment.Katcharov said the low gas prices…
French oil major TotalEnergies reported a 13% drop in fourth-quarter earnings on Wednesday, slightly missing expectations, as soaring margins on refining fuels and cash from selling stakes in renewable assets failed to offset lower oil and gas prices…
Malaysia’s Petronas has strengthened upstream collaboration in Sabah through a new oil and gas production sharing contract (PSC) award and an equity transfer agreement involving state-linked partners.Petronas Carigali, a wholly owned subsidiary of Petronas…
Offshore drilling contractor Vantage Drilling has secured a contract with Oil and Natural Gas Corporation (ONGC) for its ultra-deepwater drillship Platinum Explorer for operations off India.The binding Notification of Award (NoA) from ONGC comes…
Shell needs an acquisition or exploration breakthrough to make up for an expected production shortage of 350,000-800,000 barrels of oil equivalent per day by 2035 due to maturing fields unable to meet its output targets, the company and analysts say…
BP posted quarterly profit in line with analyst expectations on Tuesday and suspended its share buyback programme as it wrote down around $4 billion in its renewables and biogas businesses.BP, whose new CEO Meg O'Neill will start in April, said…
Oslo-listed Vaar Energi, majority-owned by Italy’s Eni, kept its quarterly dividend unchanged on Tuesday after lifting its output target and posting a higher-than-expected operating profit, even as weaker oil and gas prices weighed on earnings…
Eni has shipped the first liquefied natural gas (LNG) cargo from Phase 2 of the Congo LNG project, marking the start of LNG exports from the Nguya floating liquefied natural gas (FLNG) unit offshore Congo.With the start-up of Phase 2, the Congo…
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