Pakistan approved a new offshore exploration consortium on Tuesday, clearing Turkish Petroleum Overseas Company to take over operatorship of the Eastern Offshore Block-C as part of a push to revive drilling, the adviser to the finance ministry said.Pakistan's Economic Coordination Committee approved Pakistan Petroleum Limited's PPL.PSX request to assign part of its interest in the block to TPOC, Mari Energies MARE…
ExxonMobil Guyana and its Stabroek block co-venturers, Hess Guyana Exploration and CNOOC Petroleum Guyana, have reached a new milestone in the South American country, with the production rising to 900,000 barrels of oil daily.The achievement…
Eneos Holdings, Japan's top oil refiner which has been expanding into renewable energy, on Wednesday warned of the surging cost of developing its offshore wind project, with its CEO saying returns were difficult to achieve.Eneos unit, Japan Renewable Energy…
A new liquefied natural gas (LNG) carrier, Elisa Halcyon, ordered by France LNG Shipping SAS from Hyundai Samho Heavy Industries in Korea, was completed and delivered on October 31. The vessel will be chartered on a long-term basis (up to 20…
Russian energy group Lukoil's foreign empire is suitor Gunvor's biggest acquisition target to date but looks far beyond the Swiss trader's borrowing capacity, bankers and insiders say.Lukoil launched the sale of foreign assets on October 27 after coming under fresh U…
Pakistan said it has awarded 23 offshore exploration blocks to four consortiums led by local energy companies, some partnered with foreign firms including Turkey's national oil company TPAO.In Pakistan's first such bidding round in nearly two decades…
Japan’s Kansai Electric Power Co. (KEPCO) has signed a share subscription agreement with Ireland’s Simply Blue Group’s offshore wind development arm, Simply Blue Energy OSW (SBE OSW).The strategic investment marks KEPCO’s first investment involving…
Portugal's Galp Energia reported an 11% increase in adjusted third-quarter core profit on Monday, beating analysts' estimates, driven by a jump in refining margins and robust gas trading.The energy firm reported adjusted earnings before interest…
African oil and gas company Rhino Resources plans to drill an appraisal well on a Namibian prospect next year and take a flow test on another as it races TotalEnergies to first oil in the southern African nation, its chief executive said.The appraisal well…
BP on Monday confirmed an oil and gas discovery in Namibia’s Orange basin as reported by African energy explorer and operator Rhino Resources earlier this month.Petroleum Exploration License 85, where the well was drilled, is operated by Rhino Resources with a working interest of 42…
Australia's Santos narrowed its annual output forecast for a second time this year on Thursday after a technical issue delayed the ramp-up of its key Barossa oil and gas project and inclement weather hampered recovery at its Cooper Basin project…
BP has put its Murlach field in the U.K. North Sea into production, marking its sixth major project start-up in 2025.The two-well subsea tieback at Murlach adds a peak net production of around 15,000 boed to the BP-operated Eastern Trough Area Project (ETAP) in the central North Sea…
RWE has entered into a seven-year Power Purchase Agreement (PPA) with Co-op Group, one of the world’s largest consumer co-operatives, for renewable energy sourced from Gwynt y Môr offshore wind farm.Under the agreement, Co-op will source electricity…
French tubular solutions supplier Vallourec has secured a new order from Petrobras for its Submagnético Free Flow oil country tubular goods (OCTG) solution designed to prevent inorganic scaling in production strings.The order covers the production and installation of more than 30 units…
Italian offshore energy services firm Saipem has received the authorization to proceed with the execution of activities related to the engineering, procurement, construction and installation (EPCI) contract for the development of ExxonMobil's Hammerhead oil field…
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