TotalEnergies has signed an agreement to sell its 10% interest in a Nigerian joint venture, the company said on Monday.
Ghana said it had cleared $1.47 billion worth of energy sector debt.
Global oil prices surged on Tuesday as markets reacted to the escalating drone strikes at the Novorossiysk terminal, which handles roughly 2% of the world’s daily supply. The disruption to the Caspian Pipeline Consortium (CPC) infrastructure, a vital artery for Kazakh exports managed by Western majors like Chevron and Shell, raised immediate fears of a prolonged supply squeeze.
Russia on Tuesday asserted ownership of all oil assets a state Russian company is developing in Venezuela, following the claims of U.S. President Donald Trump that major American and Western oil firms would help revive Venezuela’s oil industry.
Norway on Tuesday offered 57 new production licenses to 19 companies in the annual licensing round for acreage in the best-explored areas on the Norwegian continental shelf, as Western Europe’s biggest oil and gas producer looks to maintain the current high level of output for years to come.
Oil prices pushed higher on Tuesday afternoon, with traders weighing a familiar but combustible mix of Middle East risk and Washington-driven policy uncertainty.
Vitol and Trafigura are offering Venezuelan crude to refiners in China and India for March delivery, trade sources told Reuters on Monday, days after two of the world’s biggest independent oil traders obtained special U.S. licenses to help market Venezuela’s oil.
NMDC Group subsidiary NMDC Infra and Consolidated Contractors Company (CCC) have established NMDCCC to provide oil and gas EPC services in the UAE, NMDC announced on Tuesday.
TotalEnergies and partners Eni and QatarEnergy have signed an agreement with the Lebanese government to explore a new block offshore Lebanon, the French company said on Friday.
Indonesia has inaugurated the upgraded Balikpapan refinery, expanding capacity from 260,000 bpd to 360,000 bpd and marking the country’s largest refining facility, international media reported on Monday.