Energy

Occidental Petroleum and Ecopetrol to Drill World’s Deepest Offshore Oil Well

Energy‚ Oil & Gas‚ Oil and Gas Industry | intent | August 6, 2024 | Comment off

U.S. shale producer Occidental Petroleum Corp. (NYSE:OXY) and Colombia’s integrated energy company Ecopetrol S.A. (NYSE:EC) are planning to drill an offshore oil well off Colombia’s waters in seas roughly 3,900 meters (close to 13,000 feet) deep before the year is out, Bloomberg has reported. Dubbed Komodo-1, the ultra-deepwater well will qualify as the deepest offshore oil well in the world, beating Angola’s block 48 well, which holds the current world-record water depth of 3,628 m (11,903 ft).

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North Sea Oil and Natural Gas Production In Further Jeopardy As New UK Government Announces Another Windfall Tax Increase

Energy‚ Oil & Gas‚ Oil and Gas Industry | intent | August 6, 2024 | Comment off

The U.K.’s new chancellor, Rachell Reeves, recently announced that the windfall tax (formally known as the Energy Profits Levy) will be increased to 38 percent (up from 35 percent) on November 1, bringing the rate of tax on upstream oil and gas activities to 78 percent. The tax will also be extended to 31 March 2030 and the government stated that it would remove certain so-called ‘unjustifiably generous investment allowances’ from the EPL.

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Angolan oil production bolstered

Energy‚ Oil & Gas‚ Oil and Gas Industry | intent | August 6, 2024 | Comment off

On 29 May 2024, it was reported that Adriano Mongini, CEO of upstream oil and gas company, Azule Energy, will speak at the Angola Oil & Gas (AOG) 2024 conference, scheduled for 2-3 October in Luanda. This event gathers industry leaders, policymakers, and stakeholders to discuss the latest trends, opportunities, and challenges in Angola’s oil and gas sector.

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Ghana will protect int’l oil interests – minister | GUPC (ghanaupstream.com)

Energy‚ Oil & Gas‚ Oil and Gas Industry | intent | August 6, 2024 | Comment off

An operational headquarters of the Ghana National Petroleum Corporation (GNPC) has been inaugurated in Takoradi.

The multimillion-dollar environmentally edifice to be known as the GNPC Energy House comes with smart and energy saving features with enough office spaces to coordinate its activities and host oil and gas industry players and related corporate entities.

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