TotalEnergies has completed today the sale to Suncor of the entirety of the shares of TotalEnergies EP Canada Ltd., comprising notably its participation in the Fort Hills oil sands asset and associated midstream commitments. The consideration for the transaction is C$1.47 billion (about US$1.1 billion), with an effective date on April 1st, 2023. Including adjustments, TotalEnergies received a cash payment at closing of C$1.83 billion (about US$1.3 billion).
Indigenous oil firm Seplat is now moving towards achieving its expansion goal with more asset acquisition as the federal government appears ready to resolve the impasse that almost denied the firm a deal with ExxonMobil.
The Nigerian economy depends significantly on the oil and gas sector. Despite persistent challenges, recent technological advancements, including robotics, advanced instrumentation, drones, and rapid progress in artificial intelligence solutions, are bringing about a transformative era for the industry. This article explores the potential of these cutting-edge technologies to enhance sub-surface production monitoring, enabling real-time measurement, and ensuring the secure transportation of produced volumes across an extensive network of pipelines and surface installations in a bid to contribute to the enhancement of Nigeria’s economic prosperity through technological innovation.
he Federal Government has lost an estimated $16tn to natural gas flaring in 10 years, a report obtained by The PUNCH on Monday has shown.
WoodMac: as the energy transition progresses, refineries face an increasingly Darwinian battle for existence.
This year’s Local Content Conference and Exhibition (LCCE), organised by the Petroleum Commission, is expected to attract over 1,200 participants to Takoradi in the Western Region from tomorrow to Friday.
The federal government has met with a team from Seplat Energy, to resolve the stalemate arising from the proposed $1.3 billion ExxonMobil’s oil asset sale which has now been held up for close to two years.
It wasn’t clear what the details of the meeting which took place in Abuja were, but the Minister of State, Petroleum (Oil), Senator Heineken Lokpobiri, hinted that it bordered on ways to resolve the prolonged altercation.
French energy giant TotalEnergies said that it is in the process of drilling the first of three wells on a field offshore Nigeria with one of Noble Corporation’s drillships.
Oil prices have weakened recently, mostly on the back of equally weak economic data from the two largest markets for oil.
OPEC+ members are set to meet on Sunday to discuss production policy, and unnamed sources have claimed that the group will be discussing further production cuts.