Ten companies on Thursday agreed to pay more than $2 billion for the exploration and production rights in 12 offshore oil blocks in Brazil, in what could be a promising sign for even bigger upcoming oil auctions.The most heavily sought after…
Brazil's mines and energy minister said the positive results of Thursday's round of bidding for the country's offshore oil blocks point to successful auctions later this year of the so-called Transfer of Rights area and pre-salt oil find.Minister…
Brazil's Federal Audit Court known as the TCU unanimously approved on Wednesday the ground rules for a major auction of pre-salt oil concessions in a 'transfer of rights' (TOR) area off the country's southeastern coast.The government expects to raise 106 billion reais ($25…
Gabon, sub-Saharan Africa’s eighth largest oil producer, last week participated in the last of its earlier scheduled nine events held in North America, Asia, Europe and Africa, to popularize the 12th shallow and deep water licensing round with only three months before the bidding process is closed…
Brazil’s offshore oil and gas sector: it’s complicated, challenging and rife with opportunity.Brazil today is seeing offshore activity increase, production is on the rise, and its government has made significant strides to remove obstacles for investment…
New currency controls enforced by the Bank of Central African States (BEAC) could ruin the oil and gas industry in the Gulf of Guinea and 'destroy' Equatorial Guinea's economy, the country's oil minister told Reuters on Wednesday.Equatorial Guinea…
BP PLC, Chevron Corp and Royal Dutch Shell PLC are among firms that will compete for exploration and production rights off the Brazilian coast on Thursday, in the first of three oil bidding rounds scheduled for coming weeks.Combined, the minimum…
Angola wants to cash in on the roughly 3 billion cubic feet per day of associated natural gas it produces, most of which is now flared, the petroleum minister said on Wednesday.The announcement of efforts to generate more revenues by reducing…
Senegal has delayed the launch of an oil and gas licensing round due on Wednesday until November 4 as contract documents still need to be finalized, oil minister Mahamadou Makhtar Cisse said.'We need to ensure the legal framework for investors…
Norway-headquartered MDE Group, a global provider of energy recruitment services, continues to implement its UK sector growth strategy, by announcing the appointment of its first regional manager in Scotland.The company is a familiar name in the North Sea…
Production has commenced from the giant Johan Sverdrup field in the Norwegian North Sea, operator Equinor announced on Saturday.The largest development in Norway for three decades, the mega project has started up more than two months ahead of and NOK 40 billion ($4…
Mexican President Andres Manuel Lopez Obrador said on Thursday that his government is not seeking to take control of the Zama oilfield discovery, which is currently operated by a private consortium led by U.S.-based Talos Energy.Reuters reported earlier this week that Mexico's national oil company…
Norway's Equinor has agreed to sell a 25% stake in Germany's Arkona offshore wind farm for around 500 million euros ($547.85 million), almost doubling the value of its investment, the company said on Thursday.The buyers are funds advised by Credit Suisse Energy Infrastructure Partners…
Japan's Inpex Corp, Sojitz Corp and Japan Oil, Gas and Minerals National Corp (JOGMEC) said on Thursday they exited the Frade oil field in Brazil by selling their stakes to partner PetroRio S.A.The three entities, which owned an 18.3% stake in the oil field through a joint venture…
A consortium formed by Hokchi Energy, Talos Energy and Wintershall Dea has given up a Mexican oil contract in the Gulf of Mexico's shallow waters due to lack of commercial discovery, the country's oil regulator said on Wednesday.As part of Mexico's flagship energy reform…
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