The Abu Dhabi National Oil Company (ADNOC) has set off record breaking contracts worth up to almost $6 billion (AED22 billion) to enable drilling growth as it boosts its crude oil production capacity to 5 million barrels per day (mmbpd) by 2030 and drives gas self-sufficiency for the United Arab Emirates (UAE). The announcement was […]

The Abu Dhabi National Oil Company (ADNOC) announced the award of two engineering, procurement and construction (EPC) contracts totaling $1.46 billion (AED5.36 billion) for the Dalma Gas Development Project. The Dalma field is part of the Ghasha Concession which is the world’s largest offshore sour gas development and an important enabler of gas self-sufficiency for […]

LUKOIL has produced one billion barrels of oil at West Qurna-2, Iraq, since the launch of commercial operation of the field. The landmark achievement has been reached as the company stands on the threshold of its 30th anniversary. Special events on the occasion of the company’s milestone year were attended by the Minister of Oil […]

Woodside has entered into a sale and purchase agreement with Global Infrastructure Partners (GIP) for the sale of a 49% non-operating participating interest in the Pluto Train 2 Joint Venture (Transaction). Pluto Train 2 is a key component of the proposed Scarborough development and includes a new LNG train and domestic gas facilities to be […]

The Company’s reported record net profit of $279 million (AED 1,025mm) as compared to a loss of $379 million (AED 1,390mm) in 9M 2020. The key drivers were higher oil prices, improved operational performance and other income. 9M 2021 profit included ‘Other Income’ of $608 million (AED 2,229mm) and a $78 million (AED 286mm) reversal […]

TechnipFMC has become a shareholder in the Scottish-based floating tidal turbine technology firm Orbital Marine Power. The investment and partnership aim to accelerate the commercialisation of Orbital’s technology and deliver the first commercial scale floating tidal field. Orbital has developed the world’s most powerful tidal turbine to date, with the capacity to meet the annual […]

SBM Offshore is pleased to announce it has been awarded contracts to perform Front End Engineering and Design (FEED) for a Floating Production, Storage and Offloading vessel (FPSO) for the Yellowtail development project. The FEED contract award triggers the initial release of funds by ExxonMobil’s subsidiary Esso Exploration and Production Guyana Limited (EEPGL) to begin FEED activities and […]

At African Energy Week (AEW) 2021 Angola’s NOC, speakers have presented the company’s exploration and production strategy, providing insight into how the company is driving hydrocarbon development in key basins across the country. Moderated by Geoff Hill, Director, Something of Value, panel participants included Osvaldo A. Inácio, Executive Director, Sonangol; Ricardo Van-Deste, CEO for the […]

Africa Oil Corp.a company listed on the Toronto Stock Exchange and on Nasdaq Stockholm   has announced its financial and operating results for the three months ended September 30, 2021, and to provide selected results for Prime Oil and Gas Cooperatief UA, a company in which Africa Oil has a 50% equity interest.  Africa Oil President and […]

The Board of Royal Dutch Shell plc (Shell) today announced a proposal to simplify the company’s share structure to increase the speed and flexibility of capital and portfolio actions. The simplification is designed to strengthen Shell’s competitiveness and accelerate both shareholder distributions and the delivery of its strategy to become a net-zero emissions business. Shell’s […]