Oil company Tullow Oil has today announced a broad capital revamp and a series of deals to deepen its presence in West Africa, as the heavily indebted firm moves to steady its operations and secure longer-term growth.
Africa-focused independent oil and gas firm Tullow Oil has signed a sale and purchase agreement to acquire the floating production, storage and offloading (FPSO) vessel serving the TEN fields on the Deepwater Tano Block offshore Ghana, in a move aimed at reducing costs and improving long-term field economics.
Ghana has formally initiated international arbitration proceedings to resolve its longstanding maritime boundary dispute with neighbouring Togo, signaling a shift from diplomatic negotiations to legal adjudication under international law
Ghana’s Parliament on Thursday ratified a Memorandum of Understanding covering the West Cape Three Points (WCTP) and Deepwater Tano (DWT) blocks, extending the agreements to December 31, 2040, despite objections raised by the Minority.
Oil gained as tensions in the Middle East outweighed concerns that there is a supply glut building in the market.
In its latest short term energy outlook (STEO), which was released on February 10, the U.S. Energy Information Administration (EIA) projected that the average Brent spot price will drop in 2026 and 2027.
Saudi Aramco has begun production of light oil (condensate) from its $100 billion Jafurah unconventional gas project, after the company completed Phase 1 construction of the 450-MMcf/D-capacity gas plant. This marks the first export of liquids from the massive field, which is primarily designed to produce natural gas.
Aquaterra Energy wins multi-well offshore Spain intervention and P&A contract
Harbour Energy has completed its $3.2-billion acquisition of LLOG Exploration Company LLC, marking the company’s strategic entry into the U.S. Gulf of America and establishing a new core business unit within its global portfolio.
Venezuela’s crude oil production could increase dramatically as soon as this year, U.S. Energy Secretary Chris Wright said during his visit in the South American country.