Eni has signed a Concession Agreement for the acquisition of a 70% stake in the Exploration Offshore Block 3, leading a consortium including a wholly owned subsidiary of Thailand’s PTT Exploration and Production Public Company Limited (PTTEP) with the remaining 30% stake.The block has been awarded following Abu Dhabi’s second competitive block licensing round aimed […]

PETRONAS through its subsidiary, PETRONAS Suriname E&P B.V. (PSEPBV) today announced that it made its first discovery of hydrocarbon in Suriname with the successful drilling of the Sloanea-1 exploration well located in Block 52.  PSEPBV is the operator of Block 52 and holds 50 per cent participating interest, together with ExxonMobil Exploration and Production Suriname […]

The Abu Dhabi National Oil Company (ADNOC) has announced the signing of an exploration concession agreement, awarding the exploration rights for Abu Dhabi Onshore Block 5 to Occidental, a US-based international oil and gas exploration and production company.  The award has been approved by Abu Dhabi’s Supreme Petroleum Council (SPC) and follows the SPC’s endorsement […]

The Nigerian National Petroleum Corporation (NNPC) has disclosed that the volume of oil deposits Nigeria holds declined by 2.16 per cent between 2018 and 2019 and is now 36.89 barrels (bbls). As reported In NNPC’s Annual Statistical Bulletin (ASB) for 2019 which was obtained by THISDAY, the corporation noted that, While the country’s oil deposit […]

Rio de Janeiro, 15 October (Argus) — Brazil’s state-controlled Petrobras only expects to sign one refinery sales agreement by year-end, rather than five as originally targeted, a senior company executive familiar with the process tells Argus. The delay stems from scheduling problems associated with the Covid-19 pandemic, oil market volatility, and a court challenge  recently decided in […]

Chevron Corp employees worldwide are being asked to reapply for positions as part of a cost-cutting program expected to eliminate up to 15% of its workforce, people familiar with the matter said as reported by Oil & Gas 360. The No. 2 U.S. oil producer has begun taking steps to streamline its organization this year […]

…….As crude oil price rallies A strengthening Hurricane Delta dealt the greatest blow to U.S. offshore Gulf of Mexico production in 15 years, halting most of the region’s oil and nearly two-thirds of its natural gas output MarineLink reported. An already large and powerful storm, Delta could intensify further on Friday as it churns through […]

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 […]