ExxonMobil, the largest major oil and gas company in the Western world, has shown interest in the Korea National Oil Corporation’s (KNOC) roadshow and participated in verifying the economic feasibility analysis of the “Blue Whale Project.” This project, located in the East Sea, boasts estimated reserves of up to 14 billion barrels, valued at around 2,000 trillion won (around $1.48 trillion). Despite its participation, ExxonMobil has not yet made an investment decision.
TotalEnergies has decided to withdraw from two oil and gas blocks offshore South Africa, with its partner in one of the blocks QatarEnergy also announcing its exit from the development.
Brazil’s state-run oil firm Petrobras has made a non-binding offer to buy a major stake in Galp Energia’s huge offshore oil discovery in Namibia, Petrobras exploration and production director Sylvia dos Anjos told Reuters on Friday.
Italian energy conglomerate Eni announced on Friday that its adjusted net profit for the second quarter had decreased by 21 percent compared to the previous year. Despite this decline, the company exceeded market expectations due to a stronger-than-anticipated performance in its gas, exploration, and liquefied natural gas (LNG) divisions. For the April-June quarter, Eni reported an adjusted net profit of 1.52 billion euros (USD1.65 billion), down from 1.94 billion euros the previous year. However, this figure was above analysts’ projections of 1.42 billion euros.
Nigeria’s average daily crude oil production stood at 1.6 million barrels per day (mbpd) as of July 23, 2024, according to Gbenga Komolafe, chief executive officer (CEO) of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
The Sentuo Group is investing $980 million in a two million metric ton per annum capacity at its oil refinery in Tema.
Venezuela has granted two Chinese companies, Anhui Erhuan Petroleum Group and Kerui Petroleum, oil production contracts in the Acema, Oritupano-Leona and Mata fields and in the Ayacucho 2 block in the Orinoco Belt, sources related to the negotiations said July 25.
Subsea7 has issued updates on its offshore oil and gas and wind projects in its latest results statement.
Europa Oil & Gas (Holdings) PLC has revised up the estimate for unrisked prospective resources in the EG08 block offshore Equatorial Guinea to 2.1 trillion cubic feet equivalent (Tcfe).
Eni has received formal consent from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) for the sale of NAOC Ltd to Oando Plc.Having already obtained all other relevant local and regulatory authorities’ authorizations, this achievement will allow Eni to proceed to with the sale of Nigerian Agip Oil Company Ltd (NAOC Ltd), Eni’s wholly owned subsidiary […]