Mozambique has finalized agreements with Chinese oil company the China National Offshore Oil Corporation (CNOOC) for the exploration and production of five offshore blocks. These blocks, located in both shallow and deep waters, were awarded as part of the country’s sixth licensing round initiated by the Mineral Resources and Energy ministry.
TotalEnergies and SONATRACH have signed a Memorandum of Understanding to conclude an oil and gas contract in the north-east Timimoun region, under the aegis of Law n°19-13 governing oil and gas activities.
Enauta, a Brazilian oil and gas company, is in talks to merge with 3R Petroleum Óleo e Gás, creating a major independent player in Latin America.
The merger would combine Enauta’s recent acquisitions in Brazil’s offshore region with 3R Petroleum’s existing assets, resulting in a company with a production capacity of over 100,000 barrels per day.
The move is part of a growing trend of mergers and acquisitions in the global oil and gas industry, as companies seek to consolidate and cut costs.
Exxon will pause for several weeks oil production at two platforms offshore Guyana in the third quarter of 2024 to connect them to a new pipeline expected to bring the associated natural gas onshore to a gas-fired power plant.
Oil major Shell expects oil and gas production across its Upstream and Integrated Gas business segments to come in slightly ahead of its previous guidance for the first three months of this year.
Insecurity and extremism in the coup-plagued Sahel risk destabilizing West African coastal states, which will soon be responsible for almost 500,000 b/d of oil and refined product flows, according to S&P Global Commodity Insights data.
The Government of Saskatchewan’s Crown petroleum and natural gas public offering, held on Tuesday, April 2, 2024, has raised $15,454,748.02 in revenue for the province, with the Estevan area generating the most cashflow.
It has now been just over a year since the Federal Government of Iraq imposed an embargo on oil exports from the country’s semi-autonomous region of Kurdistan.
Destroying all financial independence for the region, which is reliant on ongoing independent oil supplies, is one of the tools Baghdad has to erode Erbil’s autonomy.
The latest tactic of blaming international oil companies for the embargo still being in place is just another element.
Goldman Sachs analyst Neil Mehta notes Exxon Mobil’s projections, indicating higher-than-expected earnings.
Implied EPS for the quarter estimates at ~$2.15 vs. consensus closer to $2.06, showcasing positive outlook.
More than a decade of advocacy by a broad coalition of Colorado conservationists, ranchers, local governments and recreationists paid off Wednesday when federal officials banned new oil and gas development on 347 square miles of public land for the next 20 years.