In a significant development towards transforming Ghana into a leading petroleum and petrochemical
hub in Africa, the Petroleum Hub Development Corporation (PHDC) has officially signed a US$12
billion agreement with TCP-UIC Consortium
An oil spill off southern Singapore has spread to other areas of the island’s coast and is threatening a marine reserve, government agencies said, adding that authorities were intensifying efforts to mop up the fuel.
The Iranian Oil Ministry has signed four contracts worth $2 billion, including agreements to develop two oil fields.
Oil climbed, building on its biggest weekly advance since early April and extending a short-covering rally, helped by risk-on sentiment in broader markets.
The announcement confirmed a Reuters’ report last Thursday saying Temasek was finalising the Pavilion Energy sale to Shell in the coming days in a deal worth hundreds of millions of US dollars.
A decade after its peak, the oil and gas industry is welcoming a new investment boom, with exploration and production (E&P) activities heating up globally again.
A delegation from Société Nationale des Pétroles du Congo (SNPC), the Congolese national oil company, led by its Managing Director Mr. Maixent Raoul OMINGA, made a working visit to Astana, capital of the Republic of Kazakhstan, where they held discussions with Mr. Ashat KHASSENOV, Chairman of the Board of Directors of Kazakhstan’s national oil and gas company, KMG (KazMunayGas).
The SNP are “in-between” the Conservatives and Labour policy on new licences for oil and gas fields in the North Sea, the deputy first minister has said.
Surging U.S. crude exports, particularly WTI Midland, have dominated global markets, with record export volumes and a significant portion being sent to Europe.
The addition of WTI Midland has provided benefits for U.S. producers by allowing forward sales and reducing pricing risk.
According to data from ship tracker Kpler, WTI Midland exports hit a record at 2.94 million bpd in December.
TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) has entered into an agreement to sell its wholly-owned subsidiary TotalEnergies EP (Brunei) B.V. to Hibiscus Petroleum Berhad, a Malaysian independent oil and gas exploration and production company, for a consideration of $259 million. The transaction is expected to close in the fourth quarter 2024.