Tullow PLC has commended the Government for the outstanding leadership demonstrated, which has facilitated the pouring of its first oil from the Jubilee South East Area of the Greater Jubilee Field.
Tullow Oil is now hoping the government will make a timely decision on the Turkana oil project, even as it pushes to secure a strategic partner by end of this year.
Algeria’s state-owned national oil company (NOC) Sonatrach reported the discovery of ten new oil and gas deposits in the first half of 2023. Sonatrach is currently conducting a full evaluation of the profitability of the discoveries, with conclusions expected by the end of the current year.
KYIV — Ukrainian military forces said Monday they managed to regain control over four strategically important oil and gas drilling platforms located in the Black Sea near the shores of Russian-occupied Crimea.
The decisions last week by Saudi Arabia to continue its 1 million barrel per day (bpd) production cut to the end of this year and by Russia to extend its 300,000 barrels per day export cut for the same period conspired to push oil prices to their highest level since last November.
Saudi Arabia’s oil giant Aramco has told at least five refiners in North Asia that it would supply the full crude oil volumes by contract next month, Reuters reported on Monday, quoting sources familiar with the plans.
President Nana Addo Dankwa Akufo-Addo Friday commissioned First Oil from the Jubilee South East (JSE) Project.
Repsol has agreed to sell its oil and gas assets in Canada to Peyto for $468 million (approx. €433 million) as part of its ongoing portfolio management to focus activity on core regions.
Tullow Oil ( LON: TLW ) share price has staged a strong recovery in the past few months as investors watch several important corporate news. The stock’s recovery has also accelerated as the price of crude oil continued rebounding. It was trading at 37.06p on Friday, ~68% above the lowest level this year.
Ades Holding, an oil and gas drilling company backed by Saudi Arabia’s Public Investment Fund, plans to raise up to 4.6 billion Saudi riyals ($1.2 billion) from its initial public offering.