The US Bureau of Ocean Energy Management (BOEM) and the Bureau of Safety and Environmental Enforcement (BSEE) have finalized updated regulations for renewable energy development on the US Outer Continental Shelf (OCS).
With no major outbreak in fighting in the Middle East, investors seem less concerned about any impact on the flow of oil out of the region. As a result, prices fell in Wednesday’s trading.
At the same time, crude inventories across the U.S. tumbled and it stopped a further fall in oil prices.
Eni SPA is combining its upstream oil and gas business in the United Kingdom with Ithaca Energy PLC, in a transaction expected to potentially give the Italian energy major a leading position in the UK continental shelf (UKCS).
UK-headquartered oil and gas company Trident Energy has expanded its footprint on Africa’s oil and gas scene by inking strategic agreements with two oil majors, the U.S.-based Chevron and France’s TotalEnergies, which enable it to get its hands on offshore acreage in the Republic of Congo.
Oil and gas company Sintana Energy has entered into agreement to acquire up to 67% shares of Giraffe Energy Investments, the owner of a 33% interest in petroleum exploration license 79 (PEL 79) which governs blocks 2815 and 2915 offshore Namibia.
Oil prices increased by 12.9% in the first quarter of 2024, albeit with much volatility due to concerns that global geopolitical tensions will cause supply disruptions.
Galp is going to need a rebranding. How about Gulp?
However, the deal excludes Eni’s East Irish Sea assets and carbon capture and storage activities.
Energy services group Kent has secured a contract to carry out pre-front-end engineering design (pre-FEED) assessment of the proposed Spiorad na Mara offshore wind farm in Scotland.
Exploration well Yopaat 1 authorized in Eni’s Area 9 deepwater Gulf of Mexico
Plans to develop production cluster with Yopaat and two other wells in Area 10
Drilling scheduled mid-May to late July with possible sidetrack to August