Australian firm Woodside has moved to corner the purchase of Cairn Energy’s 40% stake in the Sangomar project off Senegal out from under the nose of Russian firm Lukoil. Lukoil is a Russian major exploration and production company with headquarter in Moscow has last month struck a deal to buy Scottish firm Cairn’s entire interest […]

Neptune Energy and its partners has announced the commercial discovery of oil at the Dugong well (PL882) in the Norwegian sector of the North Sea, the largest discovery in Norway so far this year. The volumes are estimated to be in the range of 6.3 – 19.0 million standard cubic meters (MSm3) of recoverable oil […]

After a decade of meritorious service as pioneer Chief Executive Officer of a reputable Indigenious Exploration and Production company with global expertise, Mr Austin Avuru has honorably exchanged an experienced loaded baton to Roger Brown as the new Chief Executive Officer (CEO) of Seplat Petroleum Development Company Plc. Mr Brown is expected to lead the […]

Yinson Holdings Berhad a renowned world leading FPSO and FSO company has once again been recognised as a ‘Most Honoured Company’ in this year’s 2020 All-Asia Executive Team Rankings organised by Institutional Investor, making this the second consecutive year Yinson is receiving this award. Additionally, Group Chief Executive Officer Lim Chern Yuan has been ranked […]

General Electric has announced its plans to completely divest from oil services giant Baker Hughes  by selling its remaining 377 million shares over three years. At current prices, the 37% stake is worth $5.5 billion — down significantly in the past year as shares in both companies have slumped nearly 40% ytd according to information made […]

Reliance Industries Limited a Fortune 500 company and the largest private sector corporation in India, a global energy giant and owned by Asia’s richest man has toppled ExxonMobil Corp to become the world’s largest energy company after Saudi Aramco. Investors have now piled into the conglomerate lured by the Indian firm’s digital and retail forays. […]

Maersk Drilling has secured an additional one-well contract from Aker BP, acting as operator of the Tambar license, for the low-emission jack-up rig Maersk Integrator. In direct continuation of its current work scope, the rig will move to the Tambar field offshore Norway to drill the K-2B development well, with work expected to commence in […]

The launch was attended by Mohammad Sanusi Barkindo, OPEC Secretary General; Professor Jonas Puck, the Academic Director of the Executive Academy at the Vienna University of Economics and Business which sponsored the event; Member Country representatives; and Members of Management from the OPEC Secretariat. The 2020 ASB provides a wide range of data on the […]

Royal Dutch Shell plans to slash the value of its oil and gas assets by up to $22 billion after the coronavirus crisis hit demand for fuel and weakened the outlook for energy prices, the Anglo-Dutch energy company said. The writedown announcement came after Shell cut its forecast for energy prices into 2023 on expectations […]

In response to the current global COVID-19 pandemic and the associated crash in the price of oil, the African Energy Chamber (AEC) and the IAGC have proposed a number of mitigating measures on behalf of the oil and gas industry. These measures are intended to mitigate the expected loss of jobs and abandonment of erstwhile […]