Minister of Energy and Mineral Resources (ESDM), Arifin Tasrif, has announced that ExxonMobil is planning to conduct a joint study to explore potential oil and gas reserves in Indonesia.
Beacon Offshore Energy LLC, Houston, started oil production at the Winterfell development in the Green Canyon area of the US Gulf of Mexico.
Tourmaline Oil Corp (TSX:TOU), Canada’s largest natural gas producer, has agreed to acquire Crew Energy Inc (TSX:CR) for C$1.3 billion (US$947 million), including debt, as part of ongoing consolidation in the oil and gas sector.
With oil, gas, and liquefied natural gas (LNG) still running the global energy show as the crown jewels within the ebbs and flows in the worldwide energy demand, the European and U.S. oil majors – the UK’s duo Shell and BP, France’s TotalEnergies, and Italy’s Eni alongside U.S.-based trio: ExxonMobil, Chevron, and ConocoPhillips – have collected a staggering $31.65 billion in combined profit during the second quarter of 2024. BP, Shell, Eni, ExxonMobil, and Conoco Phillips are among the lucky ones, which beat analysts’ expectations. However, TotalEnergies and Chevron got the shorter end of the stick with their financial performance falling below forecasts.
Despite promises that it would begin petrol production between August 10 and 12, 2024, the Dangote Petroleum Refinery may postpone the roll out of Premium Motor Spirit (PMS).
Chief Executive Officer of the Ghana National Petroleum Corporation (GNPC), Joseph Dadzie, is of the firm belief that establishing an operational presence in the Western Region would further strengthen GNPC’s position as Ghana’s foremost player in the oil and gas sector.
The decision comes at a time when industry executives have been pushing for government measures to bring back investments put off by a slew of state interventions to curb energy prices and boost domestic supply.
In a quarterly financial update, Granite Ridge Resources revealed it closed multiple transactions in Q2 2024, adding 16.4 net future drilling locations for $22.4 million (including $5.8 million of expected future drilling carries).
Houston-headquartered exploration and production company Marathon Oil Corp. reported $349 million in net income for the second quarter, compared to $297 million for the previous quarter and $287 million for the corresponding quarter a year prior.
U.S. energy firms this week added oil and natural gas rigs for the third time in four weeks, energy services firm Baker Hughes said in its closely followed report on Friday.