Over the past few years the Namibian Orange Basin has emerged as an exciting new oil province and subsequently a provider of significant new demand and future demand potential for deepwater drilling rigs.According to Westwood’s Wildcat, “the…
OPEC+ has two problems and two solutions.The first problem is that crude oil prices are too low for the comfort of most of the members of the group, which pulls together the Organization of the Petroleum Exporting Countries (OPEC) and its allies including Russia…
A Chevron-led consortium that holds licensing rights over a gas field off Cyprus will present an updated development plan within days, one of the partners said on Monday, after Cyprus gave them a three-month deadline to comply.There have been…
The discovery of increased reserves of crude oil in Namibia has sparked interest in Namibian assets, with an index fund tracking local government bonds poised for its biggest annual jump on record.The Exchange Traded Fund tracking local government…
Norway's Equinor may reconsider investing in oil and gas in Britain if the Labour government changes the industry's tax regime, a top company executive told Reuters.Equinor's head of international operations said it may not be as attractive…
The safe, timely and cost-efficient decommissioning of offshore infrastructure is one of the big challenges faced by the oil & gas sector. We estimate that the liability currently stands at over $300 billion (real terms), and this will only…
Energy services firm Kent has secured a three-year global framework agreement with Shell to provide commissioning and start-up services (CSU) across its various onshore and offshore projects.The contract encompasses a wide range of energy sectors…
Shell has replaced liquefied natural gas (LNG) volume it lost after exiting Russia in 2022 with a string of deals that underpin CEO Wael Sawan's bet on growing demand for the fuel as he reduces the focus on renewable energy.The new projects…
Oil prices edged lower for a fifth session on Thursday as investors worried about the global demand outlook, however a decline in U.S. fuel inventories limited declines.Brent crude futures LCOc1 slipped 2 cents to $76.03 a barrel, while U.S…
Germany has asked Poland to arrest a Ukrainian diving instructor who was allegedly part of a team that blew up the Nord Stream gas pipelines two years ago, according to reports in German media published on Wednesday.However, one media outlet said the man appeared to be no longer living in Poland…
The drilling operations on the Selene exploration well in the Southern North Sea have begun with Valaris 123 rig.Shell, as the operator of the license P2437, has informed the drilling of the well 48/8b-3 has started using Valari’s Valaris 123 drilling rig…
UK-based oil and gas company Viaro Energy reached an agreement with Shell and ExxonMobil for the acquisition of a full working interest in the Shell-operated UK Southern North Sea assets owned by the two supermajors.Viaro Energy made the deal…
Abu Dhabi National Oil Company (ADNOC) has signed a long-term heads of agreement with Osaka Gas for the delivery of up to 0.8 million metric tonnes per annum (mmtpa) of liquefied natural gas (LNG) from the Ruwais LNG project.The LNG will primarily…
Britain's decision to increase a windfall tax on oil and gas producers to help pay for its push to grow renewables will lead to a sharp drop in revenue and accelerate the ageing basin's decline, North Sea drillers said.The new Labour government…
Nigeria's oil output has risen to between 1.6 million and 1.7 million barrels per day after the government beefed up security to curb crude theft, Chief of Naval Staff Emmanuel Ikechukwu Ogalla said on Tuesday.Crude production in Nigeria, a…
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