The 20ᵗʰ release of Eni’s statistical review highlights the volatility of the energy market in times of pandemics, as well as the relentless growth of renewable sources In order to reflect and highlight the ongoing energy transition process, the World Oil, Gas and Renewables Review becomes World Energy Review, a single document that, by tracking […]

INEOS Grangemouth has announced further planned investment of over £1bn towards reducing greenhouse gas emissions at its site to net zero by 2045, building on the 37% reduction in net CO2 emissions already delivered since acquiring the site in 2005. INEOS has already committed over £500m spend on projects which are approved and currently being implemented […]

BP Trinidad and Tobago has confirmed its Matapal project has safely achieved first gas. The major milestone was achieved ahead of schedule and under budget despite the constraints brought about by the COVID-19 pandemic.    Matapal is bpTT’s second subsea development. It’s comprised of three wells, which tie back into the existing Juniper platform, helping […]

LUKOIL brought into operation the largest digital model of an oil field in Russia. Creation of this complex integrated model of the Vatyeganskoye field is a part of LUKOIL’s Intelligent Field project. This one-of-a-kind project (in terms of both scale and difficulty) envisages creation of digital twins of over 3 thousand wells and 12 production zones. It […]

The Troll partners are Equinor, Petoro, Shell, TotalEnergies and ConocoPhillips.    Troll has generated substantial revenues for 25 years and will continue to do so for many years to come. Annual state revenues from the Troll phase 3 project alone are estimated at an average of more than NOK 17 billion (2021). The Troll phase […]

The Biden administration said that it is set to resume selling oil and gas drilling rights in the Gulf of Mexico and throughout the western U.S., after a judge ruled the president’s leasing pause was unlawful according to world oil reports. The Interior Department said it planned to issue a formal notice in September to […]

Tethys Oil’s share of the production, before government take, from Blocks 3&4 onshore the Sultanate of Oman amounted in June 2021 to 342,446 barrels of oil, corresponding to 11,415 barrels of oil per day. Oil production in Oman is currently subject to production limitations under the OPEC+ agreement. As a consequence, production from Blocks 3&4 […]

Equinor and state-owned Petróleos de Venezuela (PdVSA) have completed a transaction whereby Equinor will transfer its 9.67% non-operated interest in the Petrocedeño project onshore Venezuela to Corporación Venezolana del Petróleo (CVP), a PdVSA company.  The Petrocedeño project aims to upgrade extra-heavy crude oil into lighter crude from the Orinoco Belt area (onshore Venezuela). As a […]

The ExxonMobil board of directors will consist of Michael Angelakis, Susan Avery, Angela Braly, Ursula Burns, Kenneth Frazier, Gregory Goff, Kaisa Hietala, Joseph Hooley, Steve Kandarian, Alexander Karsner, Jeffrey Ubben and Darren Woods. Douglas Oberhelman, Sam Palmisano and Wan Zulkiflee will be departing the board. “Our board looks forward to continuing to work in the […]

The Ministry of Petroleum and Energy has offered Equinor two operated production licences in the 25th licensing round in the Barents Sea. “We are pleased with the award. A steady access to acreage contributes positively to the development of the Norwegian Continental Shelf. This award brings opportunities for exploring volumes near planned infrastructure. We prioritise […]