With no major outbreak in fighting in the Middle East, investors seem less concerned about any impact on the flow of oil out of the region. As a result, prices fell in Wednesday’s trading.
At the same time, crude inventories across the U.S. tumbled and it stopped a further fall in oil prices.
Eni SPA is combining its upstream oil and gas business in the United Kingdom with Ithaca Energy PLC, in a transaction expected to potentially give the Italian energy major a leading position in the UK continental shelf (UKCS).
UK-headquartered oil and gas company Trident Energy has expanded its footprint on Africa’s oil and gas scene by inking strategic agreements with two oil majors, the U.S.-based Chevron and France’s TotalEnergies, which enable it to get its hands on offshore acreage in the Republic of Congo.
Galp is going to need a rebranding. How about Gulp?
However, the deal excludes Eni’s East Irish Sea assets and carbon capture and storage activities.
Exploration well Yopaat 1 authorized in Eni’s Area 9 deepwater Gulf of Mexico
Plans to develop production cluster with Yopaat and two other wells in Area 10
Drilling scheduled mid-May to late July with possible sidetrack to August
A Swiss subsidiary of Polish state energy giant Orlen has revealed details of the roughly $400 million (1.6 billion zloty) it lost on prepayments made without collateral under the firm’s previous management for Venezuelan crude oil and petroleum products that were never delivered.
In a move to further revitalise the oil and gas industry’s contribution to the Nigerian Economy, the minister of finance and coordinating minister of the economy, Wale Edun, yesterday presided over a signing ceremony at the Federal Ministry of Finance headquarters in Abuja endorsing the Consolidated Guidelines for the implementation of Fiscal Incentives for the Oil & Gas Sector – a cornerstone of the Presidential Directive aimed at enhancing the Nigerian oil & gas sector’s global competitiveness whilst stimulating economic growth.
In response to an audit conducted by KPMG regarding the transactions between the Ghana Revenue Authority (GRA) and Strategic Mobilization Ghana Ltd (SML), President Nana Addo Dankwa Akufo-Addo has directed that the upstream petroleum audit and minerals audit services by the latter may be terminated.
Four projects were planned offshore Texas before multiple crises hit the industry in the 2020s and changed trade oil flows.
The first approval of a Texas deepwater port came earlier this month when the United States Maritime Administration (MARAD) issued the deepwater port license for the Sea Port Oil Terminal.
EIA: the Netherlands received more U.S. crude oil exports than any other country in 2023, averaging 652,000 bpd.