Tullow Oil plc (Tullow) is pleased to announce that it has signed two separate sale and purchase agreements with Panoro Energy ASA (Panoro) for all of Tullow’s assets in Equatorial Guinea (the EG Transaction) and the Dussafu asset in Gabon (the Dussafu Transaction). Rahul Dhir, Chief Executive Officer of Tullow, and Les Wood, Chief Financial Officer, will […]

EnQuest has signed an agreement with Suncor Energy UK Limited  to purchase Suncor’s entire 26.69% non-operated equity interest in the Golden Eagle area, comprising the producing Golden Eagle, Peregrine and Solitaire fields (‘the Transaction’) for an initial consideration of US$325 million. HIGHLIGHTS Adds immediate incremental production of c.10 kboepd, c.18 MMbbls to net 2P reserves […]

Shell a global integrated exploration and production company has released its financial and operational year report for the fourth quarter 2020. Integrated gas and new energies LNG realised prices significantly below Q4 2019, with some recovery seen during the quarter. Average trading and optimisation results. Lower opex driven by lower operations and maintenance costs as […]

The chief executives of ExxonMobil Corp and Chevron Corp held preliminary talks in early 2020 to explore combining the two largest U.S. oil producers in what would have been the biggest merger of all time, according to people familiar with the matter and as reported by Reuters. The discussions, which are no longer active, are […]

Rosneft Oil Company and bp have signed a Strategic Collaboration Agreement focused on ‎supporting carbon management and sustainability activities of both companies. The agreement ‎builds on years of partnership between the two companies and formalises key elements of their ‎collaboration on sustainability and work to identify carbon reduction activities and low carbon ‎opportunities.  Based on […]

The Weir Group has completed the sale of its Oil & Gas division to Caterpillar Inc. The sale, for an enterprise value of $405m, subject to customary working capital and debt-like adjustments, was first announced on 5 October 2020 and approved by Weir Shareholders on 23 November 2020.  Since then, the Group’s joint venture partner […]

President Joseph R. Biden, Jr has appointed Enoh T. Ebong as the Acting Director of the U.S. Trade and Development Agency. The appointment meant a return to USTDA where from 2004 to 2019, Ms. Ebong had served in a variety of roles, most recently as the Agency’s General Counsel, and Deputy Director and Chief Operating […]

The rigs have been renamed Deimos and Phobos, presumably in homage to the Martian moons. Starship is the enormous rocket that SpaceX is developing to meet Musk’s goal of launching cargo and as many as 100 people at a time on missions to the moon and Mars. The rocket is SpaceX top priority with SpaceX flying […]

TechnipFMC has announced that it has resumed plans to split the business into two publicly traded companies, TechnipFMC and Technip Energies. The company announced the separation plan last year, however the Covid-19 pandemic delayed the process. TechnipFMC believes the separation would enhance both companies’ focus on their respective strategies and provide both improved flexibility and growth […]

DNV GL, the assurance and risk Management Company, will change its name to DNV on 1 March 2021. The move comes after a comprehensive review of the company’s strategy as it positions itself for a world in which many of DNV’s markets are undergoing fundamental change. The present name has been in place since the […]