A new Chinese umbrella company grouping all the state majors will drill for ultradeep oil and gas, and explore shale formations in China.
China produced 4.2 million barrels daily in 2023.
Unconventional resources have long been a focus of attention for China’s state oil and gas majors, but developing them has been a challenge.
SLB’s OneSubsea has won a sizeable contract for 13 wellsets plus associated equipment and services in the development of the Kaminho project offshore Angola from French energy major TotalEnergies.
Winterfell development set to deliver gross production of 20,000 boepd, says partner Kosmos Energy
Brazilian oil and gas company Enauta has terminated the contract to acquire the floating production, storage, and offloading (FPSO) unit Cidade de Santos from MODEC, announced in relation with the acquisition of Uruguá and Tambaú fields from Petrobras.
TotalEnergies plans to exit its discoveries of gas-condensate off the tip of South Africa to prioritise exploration in other areas closer to Namibia, according to people familiar with the matter.
Receipts from crude oil liftings (CAPI and Royalties) in Ghana amounted to $690,282,530.89 in 2023 as
compared with U$1,036,800,383.96 in 2022, representing a decrease of 33.4%, the PIAC has reported.
Vår Energi struck a similar supply deal with Germany’s VNG Handel & Vertrieb for the delivery of 5 bcm (176.6 bcf) of gas over 12 years.
OPEC+ has extended its production cuts totaling 3.66 million bpd until 2025.
Further production cuts by OPEC+ could impact global oil prices and economic stability, particularly affecting China and the U.S.
Prominent OPEC countries may be reluctant to risk lower oil prices, as doing so could jeopardize the budgets for their ambitious national spending programs.
TotalEnergies has acquired Tecoil, a Finnish company specialised in lubricants used oil regeneration, the French company announced on Monday.
Saudi Arabia’s energy minister announced a new discovery of seven oil and gas deposits in the kingdom’s Eastern Province and Empty Quarter, the official Saudi news agency SPA reported.