Investment firm LetterOne, owned in part by sanctioned Russian oligarchs Petr Aven and Mikhail Fridman, has acquired a minority stake (14.87%) in Harbour Energy, which is the UK’s biggest oil and gas company with operations in Norway, Southeast Asia, Germany, North Africa and Argentina.
Oil prices fell slightly on Wednesday, hovering at their lowest levels since December after plunging more than 4% the previous day on signs of a weak global economy, lacklustre oil demand, and expectations of an end to a dispute halting Libyan exports.
The Rosebank and Jackdaw oil and gas fields have suffered a big setback after the government decided not to defend them against a legal challenge. Here’s what you need to know.
As oil majors shift focus to deep offshore exploration in Africa, local producers face rising costs and complex challenges in a rapidly evolving industry landscape.
Nigeria’s Dangote Oil Refinery has begun processing gasoline, marking a significant development after delays caused by crude shortages. The $20 billion refinery started operations in January, producing naphtha and jet fuel. However, it could not produce gasoline until now. Dangote Industries Vice President Devakumar Edwin announced the development.
Aker BP has started oil production from Tyrving field in the Alvheim area offshore Norway.
The development leverages the planned extended lifetime for Alvheim field and will increase production while reducing both unit costs and CO2 emissions/bbl, the company said in a release Sept. 3.
In a release sent to Rigzone recently, industry body Offshore Energies UK (OEUK) announced that it has released data “which models the impact of the government’s announced stronger Energy Profits Levy (EPL) on the UK economy”.
Even as a few deepwater drilling or development programs previously slated for 2024 have been pushed back by months or even into the new year, current oil prices and economics of offshore projects remain strong, the top executive at a large global deepwater driller said Sept. 3.
A national workshop (27-30 August) brought together top officials from across Guyana to strengthen the country’s defences against oil spills.
The 2025 edition of the Guyana Energy Conference and Supply Chain Expo was launched this morning with a plan to present Guyana as more than just an oil and gas country, but rather as a country that can facilitate growth in a number of other industries.