Petrofac, Repsol Sinopec Resources UK and TechnipFMC announce the formation of an innovative industry alliance which seeks to maximise the recovery of oil and gas from the UK Continental Shelf (UKCS). The partnership will work together to offer the owners of oil and gas discoveries near Repsol Sinopec’s existing North Sea infrastructure hubs an integrated, […]

BP has joined the IBM Quantum Network to advance the use of quantum ‎computing in the energy industry.‎‎ ‎ By joining the IBM Quantum Network™ as an Industry Partner, BP will have access to IBM’s ‎quantum expertise and software and cloud-based access to the most advanced quantum ‎computers available via the cloud. This includes access […]

Shell today set out its strategy to accelerate its transformation into a provider of net-zero emissions energy products and services, powered by growth in its customer-facing businesses. A disciplined cash allocation framework and rigorous approach to driving down carbon emissions will deliver value for shareholders, customers and wider society. Shell also confirmed its expectation that […]

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 […]