Nigeria has discovered a major polymetallic deposit in Kaduna State containing nickel, copper, gold, platinum group metals, and rare earth elements. The government is accelerating mining sector reforms, requiring local mineral processing, revoking thousands of inactive mining licenses, and attracting major Chinese investment in lithium processing to boost domestic value creation. Despite the mining boom, […]
Eco (Atlantic) Oil & Gas, the oil and gas exploration company focused on the offshore Atlantic Margins, has received formal Ministerial approval from the Ministry of Industries, Mines and Energy of Namibia for the Section 11 assignment relating to the Company’s previously announced farm-out of its 85% participating interest in Petroleum Exploration Licence 98 (‘PEL 98’), offshore Namibia, to an arm’s-length wholly Namibian-owned company, Lamda Energy.
Pakistan is seeking to buy liquefied natural gas for delivery this week as a string of attacks in the Strait of Hormuz disrupts flows of the super-chilled fuel. State-owned Pakistan LNG released a tender over the weekend seeking to procure a shipment for June 30 to July 4 delivery, with offers due on Monday, according […]
Oil rose as traders assessed upcoming peace talks between the US and Iran following a weekend of flare-ups over the Strait of Hormuz that served as a reminder of the fragility of their truce. West Texas Intermediate rose more than 2% to settle near $71 a barrel. Brent settled up 1.6%. Both Tehran and Washington […]
TechnipFMC PLC has received a contract to execute the Vår Energi ASA-led Ofelia and Gjøa Nord development projects on Norway’s side of the North Sea. TechnipFMC did not specify the value of the integrated engineering, procurement, construction and installation contract but said it was a “large” award, which the company defines as ranging from $500 […]
Kolibri Global Energy is broadening its development strategy in Oklahoma’s Tishomingo field by targeting multiple additional reservoir benches beyond the Lower Caney, a move the company believes could significantly expand its future drilling inventory and reserves. While continuing to develop the Lower Caney formation, Kolibri plans to evaluate the False Caney, Upper Caney, T-zone and Sycamore […]
Eni and XRG have each agreed to acquire a 32% interest in three upstream blocks in Argentina’s Vaca Muerta shale, joining operator YPF in advancing the integrated Argentina LNG project. The agreements cover the Meseta Buena Esperanza, Aguada Villanueva and Las Tacanas blocks. Upon completion, which remains subject to regulatory approvals, YPF will retain a 36% interest while Eni and XRG will […]
SBM Offshore has secured $465 million in project financing for FSO Chalchi, the floating storage and offloading (FSO) vessel being built for Woodside Energy’s Trion deepwater development offshore Mexico. The financing, provided by a consortium of international banks and institutional investors, includes partial insurance support from China Export & Credit Insurance Corporation. SBM Offshore said the funding will be […]
Eni SpA and Libya’s National Oil Corp (NOC) have started up a compression project that improves natural gas recovery in the Bahr Essalam field off the Mediterranean coast of the North African country. “The new compressors are expected to boost production by approximately 28 billion cubic feet of natural gas annually and to increase condensate […]
Baker Hughes has secured a 13-year lifecycle services agreement with Nigeria LNG (NLNG) to support turbomachinery operations at the company’s Train 7 expansion project on Bonny Island. The agreement extends a more than 20-year relationship between the companies and will provide long-term support for equipment installed as part of the expansion, which is expected to increase the plant’s […]