The decision comes at a time when industry executives have been pushing for government measures to bring back investments put off by a slew of state interventions to curb energy prices and boost domestic supply.
In a quarterly financial update, Granite Ridge Resources revealed it closed multiple transactions in Q2 2024, adding 16.4 net future drilling locations for $22.4 million (including $5.8 million of expected future drilling carries).
Houston-headquartered exploration and production company Marathon Oil Corp. reported $349 million in net income for the second quarter, compared to $297 million for the previous quarter and $287 million for the corresponding quarter a year prior.
According to Reuters, Equinor and ExxonMobil have transferred their stakes in a deepwater oil and gas exploration block offshore Suriname to Hess Corp, with Equinor exiting the South American country.
Offshore drilling contractor Northern Ocean announced an extension of the contract with a subsidiary of TotalEnergies SE for continued work in Africa using the Deepsea Mira drilling rig.
Several banks and financial institutions implementing policies aimed at reducing support for fossil fuel projects have led to a sharp decline in investment in Africa’s oil and gas industry, a sector that is crucial for its economic future and energy needs.
Hundreds of workers of Eni Ghana Exploration and Production Ltd have expressed disquiet over the seeming foul play in the unitisation of the Afina discovery in West Cape Three Points Block 2 Area (WCTP2) and the Sankofa field in Offshore West Cape Three Points Block Area (OCTP), which has been in contestation since 2020.
Exxon Mobil (NYSE:XOM) has begun to restart some units at its Joliet, Illinois, refinery after a three-week outage, OilPrice.com reported Thursday.
Savannah Energy has terminated its planned USD 1.25-billion acquisition of Petronas’s South Sudan operations, the UK company announced on Thursday
Halliburton has been awarded a contract by Petrobras to provide well intervention and plug and abandonment services in wells offshore Brazil, the oilfield services company announced on Thursday.