Oil prices surged early on Tuesday to their highest level since Saudi Arabia and Russia broke up the OPEC+ pact in early March, thanks to promising results in a coronavirus vaccine trial and the European Union reaching a historic stimulus package deal after five days of marathon talks. As of 10:37 a.m. EDT on Tuesday, WTI […]

Chevron Corporation has announced that it has entered into a definitive agreement with Noble Energy, Inc to acquire all of the outstanding shares of Noble Energy in an all-stock transaction valued at $5 billion, or $10.38 per share. Based on Chevron’s closing price on July 17, 2020 and under the terms of the agreement, Noble […]

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 […]

Reconnaissance Energy Africa Ltd. (ReconAfrica))  a young global exploration and production company has  announced  its  preparation for the upcoming drilling program in the Kavango Basin and  the appointment of Mr. Nick Steinsberger as Senior Vice President, Drilling and Completions.    Nick Steinsberger brings 32 years’ experience in petroleum engineering, drilling and completions, production, and surface facilities […]

The Nigeria National Petroleum Corporation (NNPC) has announced the commencement of crude oil exploration along the Bida Basin sokoto North of Nigeria. The crude oil exploration 2D seismic data acquisition surveys in the Bida Sokoto basin are expected to spread across eight local government councils of Niger state, two in Kwara state and one in […]

Brent blend is a light crude oil (LCO), though not as light as West Texas Intermediate (WTI). It contains approximately 0.37% of Sulfur, classifying it as sweet crude, yet not as sweet as WTI. It is typically refined in Northwest Europe.  WTI has a sulfur content of 0.24%. The lower the sulfur content of oil, […]

London (Bloomberg) – Tullow Oil and Total are process to sell part of their stakes in oil discoveries in Kenya. According to familiar source, the French energy giant is planning to sell half of its 25% stake in the fields, said one of the people. Tullow said last year that it planned to reduce its […]

The Drilling Company of 1972 A/S (“Maersk Drilling”) announces that it has received notice of early termination for convenience of two drilling contracts. The first is the BG International Ltd contract, a subsidiary of Shell, has terminated the contract for the semi-submersible Mærsk Developer with immediate effect. The original end of contract was expected to […]

Air Products has signed up to Asuppl y two LNG heat exchangers to the Total-led Mozambique LNG venture. The company said its facility in Port Manatee, Florida, would manufacture the equipment, which would then be shipped to the Afungi Peninsula, in Mozambique’s northern Cabo Delgado Province. Air Products has signed the deal with the contractor, […]