Exxon Mobil Corp. activist investor Engine No. 1 expanded its presence on the oil giant’s board to three seats, according to preliminary vote tallies, cementing a victory that has reverberated across the energy industry. The initial counts show the newest nominee from Engine No. 1’s slate elected to Exxon’s 12-member board is private-equity investor Alexander […]

Equinor (operator) and ExxonMobil, Petrogal Brasil and Pré-sal Petróleo SA (PPSA) have decided to develop phase one of the Bacalhau field in the Brazilian pre-salt Santos area. The investment is approximately 8 billion USD. “This is an exciting day. Bacalhau is the first greenfield development by an international operator in the pre-salt area and will […]

Baker Hughes (NYSE:BKR) has announced it has deployed its industry-leading remote operations digital technology across Aramco’s drilling operations, encompassing 200+ sites, the largest deployment of its kind in Baker Hughes’ history. Building upon Aramco’s existing industry-leading data management infrastructure and capabilities, this project provides the company with a single solution that covers data aggregation from the […]

Odfjell has been awarded a drilling contract for its Deepsea Stavanger mobile rig, scheduled to start drilling in February 2022. The contract includes continuing options after the initial phase. The contract value is estimated at around USD 40 million for the fixed part of the contract. Drilling services and other additional services, such as running […]

ExxonMobil said that based on preliminary vote estimates by its proxy solicitor, shareholders have elected eight of ExxonMobil nominees to the board of directors and two of Engine No. 1 nominees. Vote results for five nominees were too close to call.  “We welcome all of our new directors and look forward to working with them […]

Shell Petroleum N.V. has signed an agreement with Malampaya Energy XP Pte Ltd (a subsidiary of Udenna Corporation), for the sale of its 100% shareholding in Shell Philippines Exploration B.V. (SPEX). SPEX holds a 45% operating interest in Service Contract 38 (SC38), which includes the producing Malampaya gas field. The base consideration for the sale […]

Reconnaissance Energy Africa Ltd. provides a factual response to National Geographic’s false and defamatory article May 21, 2021, written by environmental activists. ReconAfrica’s Vital Operations in Namibia We are proud that the Namibian Government has selected ReconAfrica as one of over 30 national and international energy companies it trusts to explore the country’s natural resource potential […]

W&T Offshore, Inc. has announced that it has enhanced its capital structure by entering into a transaction with its wholly-owned special purpose vehicles (the “SPVs”) and Munich Re Reserve Risk Financing, Inc. (“MRRF”). In this transaction, the Company transferred 100% of its Mobile Bay Area producing assets (the “Mobile Bay Assets”) and related gas treatment […]

French group Total, one of the world’s biggest energy companies, is preparing to change its name to TotalEnergies to signal its diversification towards cleaner energy sources. Founded in 1924 as the Compagnie francaise des petroles, The Company is set to unveil the new name on May 28 during a shareholders’ general assembly. Recently, Total has […]

Total and ArcelorMittal Nippon Steel  (AMNS) have signed an agreement for the supply of up to 500,000 tons of liquefied natural gas (LNG) per year until 2026.  The LNG will be sourced from Total’s global portfolio and offloaded either in Dahej or Hazira LNG Terminal, on the West Coast of India. AMNS will use the […]