In 2021 LUKOIL Group’s hydrocarbon production excluding the West Qurna-2 project was 2,161 thousand boe per day, which is 4.7% higher year-on-year, while in the fourth quarter of 2021 hydrocarbon production increased by 7.6% quarter-on-quarter. The production growth was attributable to the dynamics of the external limitations on oil production due to the OPEC+ agreement, […]

BP has announced its fourth quarter and full year 2021 results. Reported profit for the quarter was $2.3 billion, compared with a loss of $2.5 billion for the third quarter 2021. Underlying replacement cost profit for the quarter was $4.1 billion, compared with $3.3 billion for the previous quarter. Net debt reduced for seventh quarter […]

ConocoPhillips has reported fourth-quarter 2021 earnings of $2.6 billion, or $1.98 per share, compared with a fourth-quarter 2020 loss of $0.8 billion, or ($0.72) per share. Excluding special items, fourth-quarter 2021 adjusted earnings were $3.0 billion, or $2.27 per share, compared with a fourth-quarter 2020 adjusted loss of $0.2 billion, or ($0.19) per share. Special […]

Tullow and JV Partners have continued to seek a strategic partner for its global projects and constructive discussions progress with interested parties. Tullow exited 11 exploration blocks in 2021, including all of its licences in Suriname and Peru, reorienting its exploration effort towards near-field and infrastructure-led exploration activities to enhance value in core areas. In […]

Minister of Petroleum and Energy, MarteMjøsPersen, will today officially open the Martin Linge field. With good operational performance since the field came on stream in June and high oil and gas prices, the investments in the field are expected to be recovered in full during 2022. “Martin Linge has been a very challenging project to […]

Woodside has completed the sale of a 49% non-operating participating interest in the Pluto Train 2 Joint Venture to Global Infrastructure Partners (GIP). This follows Woodside’s announcement on 15 November 2021 that it had entered into a sale and purchaseagreement with GIP. On 22 November 2021 the Pluto Train 2 Joint Venture announced its final […]

The Oseberg Area Unit partners will reduce CO2 emissions from the Oseberg Field Centre and the Oseberg South platform while increasing Oseberg gas production. An amended plan for development and operation (PDO) has been submitted to the minister of petroleum and energy MarteMjøsPersen. Oseberg will be developed from primarily being an oil field to becoming a […]

SDX Energy Plc, the MENA-focused energy company, has announced the commencement of the second phase of its 2021 drilling campaign in Morocco, with the spud of the KSR-19 well. KSR-19 will be followed by the SAK-1 well which, if successful, will open a new exploration area for SDX in the Company’s LallaMimounaSud concession. “I am pleased to announce […]

W&T Offshore, Inc. has announced that the Company was the apparent high bidder on two blocks in the Gulf of Mexico Lease Sale 257 held by the Bureau of Ocean Energy Management (“BOEM”) on November 17, 2021. W&T will also be participating in two upcoming investor conferences. Lease Sale 257 W&T was the apparent high […]

Odfjell Drilling and CIMC Raffles have unveiled that Neptune Energy Norge has extended the contract for the DeepseaYantai with an additional 3 wells securing that the rig is fully occupied to mid Q2 2022. The extension is made so that the rig can drill one more well at the Fenja field and to drill two […]