BW Energy has signed production sharing contracts (PSCs) for two exploration blocks offshore Gabon: Niosi Marin and Guduma Marin (ex-G12-13 and H12-13).
Shearwater Geoservices will deploy the SW Tasman vessel for a newly awarded deepwater ocean-bottom node (OBN) survey offshore West Africa.
Dangote Refinery in the Federal Republic of Nigeria, has denied receiving any payments for the purchase of refined petroleum products from the Independent Petroleum Marketers Association of Nigeria (IPMAN)
Eni had announced it had entered into a binding agreement with Hilcorp for the sale of the assets in June 2024. Having received the approval of all relevant authorities, the parties have proceeded to close the transaction.
The North Sea is famous as one of Europe’s top crude production sites, with the UK and Norway accounting for about 80% of the region’s output.
This increase comes as the market prepares for a week that includes a U.S. presidential election and a significant meeting in China, News.Az reports, citing Reuters.
UK Chancellor Rachel Reeves on Oct. 30 confirmed a three percentage point hike in North Sea oil and natural gas taxation along with the removal of an investment allowance, but refrained from a more draconian hike amid industry warnings of a hit to investment and a risk of accelerating output decline.
Britain’s Chancellor Rachel Reeves has raised the Energy Profits Levy on North Sea oil and gas producers to 38% in her first budget for the Labor government.
BP has reported an underlying replacement cost (RC) profit, proxy for net profit, of $2.26bn in the third quarter of 2024 (Q3 2024), a 31.1% drop from $3.29bn during the same period in 2023.
This report identifies the requirements for meeting emissions targets and introduces the energy transition interventions most suited to decarbonizing the upstream oil and gas industry. The measures discussed include improving efficiency, flaring mitigation, electrification, carbon capture, and renewables.