Shell plc (NYSE:SHEL) expects a $2 billion impairment in the second quarter of 2024 after pausing its Rotterdam biofuels facility and divesting its Singapore refinery. Rotterdam’s construction halt leads to a $600 million to $1 billion non-cash charge, while Singapore sees $600 million to $800 million in charges.
Devon Energy Corp. agreed to acquire the Williston basin business of Grayson Mill Energy for $5 billion, the latest deal in the U.S. oil and gas industry.
Eni announced Monday a new discovery on the Yopaat-1 EXP exploration well in Block 9, approximately 63 kilometers off the coast in the mid-deep water of the Cuenca Salina in the Sureste Basin, offshore Mexico. The preliminary estimates indicate a discovered potential of around 300-400 million barrels equivalents (Mboe) of oil and associated gas in place.
ExxonMobil expects its upstream earnings to be up to $700 million higher for the second quarter compared to the first quarter of the year, due to higher liquids prices, the U.S. supermajor said on Monday in a preview of its Q2 results.
Minister of Petroleum and Mineral Resources Karim Badawi has met with a high-level delegation of officials from the Italian company Eni, the largest investor in the energy sector in Egypt. Eni’s delegation included Guido Brusco, Eni’s Chief Operating Officer-Natural Resources; Martina Opizzi, Eni’s Head of the North Africa and Levant region; Luca Vignati, Eni’s Director of Upstream; and several company officials.
The AEC-led webinar outlined emerging investment opportunities across Angola’s oil and gas market ahead of the country’s 2025 licensing round.
The volume of coalbed methane held in a key asset in Botswana operated by Australia-listed minnow Botala Energy has increased by more than 40% to hit some 450 billion cubic feet, according to a third-party estimate.
Reconnaissance Energy Africa Ltd. and its joint venture partner NAMCOR (the state oil company of Namibia), announced the spudding of the Naingopo exploration well on Petroleum Exploration Licence 73 (“PEL 73”), onshore northeast Namibia.
When Ghana discovered oil in 2007, some observers predicted the “Dutch Disease” as the variant of the resource curse awaiting the country.
The total number of active drilling rigs for oil and gas in the United States rose this week, pressing pause on a declining rig pattern, according to new data that Baker Hughes published on Friday.