Mozambique has finalized agreements with Chinese oil company the China National Offshore Oil Corporation (CNOOC) for the exploration and production of five offshore blocks. These blocks, located in both shallow and deep waters, were awarded as part of the country’s sixth licensing round initiated by the Mineral Resources and Energy ministry.
Senegal’s newly elected President Bassirou Diomaye Faye has stated that he would conduct a thorough audit of Senegal’s oil , gas and mining sectors.
Israel withdrew forces from the southern Gaza city of Khan Younis over the weekend, bringing its troop levels in the enclave to one of the lowest levels since the war with Hamas began last October.
U.S. crude and Brent gained more than 4% last week as tensions mounted between Israel and Iran.
Enauta, a Brazilian oil and gas company, is in talks to merge with 3R Petroleum Óleo e Gás, creating a major independent player in Latin America.
The merger would combine Enauta’s recent acquisitions in Brazil’s offshore region with 3R Petroleum’s existing assets, resulting in a company with a production capacity of over 100,000 barrels per day.
The move is part of a growing trend of mergers and acquisitions in the global oil and gas industry, as companies seek to consolidate and cut costs.
Exxon will pause for several weeks oil production at two platforms offshore Guyana in the third quarter of 2024 to connect them to a new pipeline expected to bring the associated natural gas onshore to a gas-fired power plant.
Oil prices fell in early Monday trading, after Israel withdrew some soldiers from Gaza amid renewed ceasefire talks, defusing some tension in the Middle East ahead of the Eid Al Fitr holiday.
Shell chief executive Wael Sawan refused to rule out the possibility of the oil and gas company leaving the London Stock Exchange amid concerns it is currently underappreciated by investors.
The geopolitical conflicts that have engulfed the world are making many believe that oil prices can hit the global benchmark of $100 for the first time in almost two years
BP said on Tuesday it expects first-quarter upstream production of both oil and gas as well as low-carbon energy to be higher than the previous three months.
Oil prices slid more than $1 a barrel on Monday, with Brent falling below $90, as Middle East tensions eased after Israel withdrew more soldiers from southern Gaza and committed to fresh talks on a potential ceasefire in the six-month conflict.