The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has revealed that four International Oil Companies (IOCs) are planning to divest from 26 oil blocks in Nigeria. These IOCs, including Nigerian Agip Oil Company, ExxonMobil, EQUINOR, and Shell Petroleum Development Company, aim to transfer the ownership of these blocks to local firms. This move is expected to significantly enhance national oil production and provide substantial benefits to various stakeholders in the energy sector.
The Aramco US$12 billion share sale sold out shortly after the deal opened.
Aramco’s share sale comes at a time when oil prices remain depressed mainly due to concerns about weak global demand.
Details of the split between local and foreign investors in the offering are yet to emerge.
Ricardo Do Amaral, general manager of Octomar, talks to The Energy Year about the company’s assistance to operators developing their assets and its projects with the Angolan Ministry of Environment. Octomar is an Angolan diving and marine services company offering a variety of offshore tanker terminal and FPSO support services, as well as marine and subsea services and vessels.
The FPSO vessel that will be the centrepiece of BP’s Greater Tortue Ahmeyim (GTA) Phase 1 LNG development has arrived at its destination on the maritime border between Mauritania and Senegal, BP announced on Tuesday.
Equinor has agreed to sell a 19.5% interest in two Norwegian production licences to PGNiG Upstream Norway.
The Nigerian National Petroleum Company (NNPC) is set to begin oil exploration in Ogun state This will mean more crude oil production for Nigeria and also help increase federal government revenue The governor of Ogun state is excited and has stressed the importance of NNPC’s decision to search for oil in the state.
The Republic of Congo’s Minister of Hydrocarbons Bruno Jean-Richard Itoua participated in two historic OPEC meetings on June 2, where the decision was made to extend oil production cuts into 2025.
Executive Chairman, & Founder, AA Holdings, Austin Avuru has said the Nigerian indigenous oil producers have the capacity to do 1.7million barrels per day (mbpd).
Eco (Atlantic) Oil & Gas Ltd (AIM:ECO, TSX-V:EOG) has struck a farm-in deal to acquire a stake in Block 1, in the Orange basin offshore South Africa.
Subsea7 has been awarded four long-term day-rate contracts by Petrobras for pipe-laying support vessels (PLSVs), Subsea7 announced on Monday.