Saudi oil giant Aramco and Abu Dhabi’s ADNOC plan to expand their downstream businesses, especially in Asia, to lock in future demand for their crude in the petrochemicals sector.
Chinese oilfield services company Jereh has signed a development and production contract with state-run Midland Oil Company of Iraq to jointly develop the Mansuriya gasfield, Jereh announced on Thursday.
Trafigura is facing a loss of up to $1.1 billion in Mongolia, linked in part to suspected fraud by its own employees. According to Bloomberg, the company’s staff manipulated payments while concealing a mountain of overdue debts, a malpractice that continued for years without raising any red flags.
Being the first LNG project in the country, Coral Sul FLNG has helped Mozambique enter the global LNG market and monetise Africa’s largest gasfield.
Woodside Energy has transferred a 15.1% interest in the Scarborough joint venture (JV) offshore/onshore Western Australia to Japanese power utility JERA for $1.4 billion.
BW Energy has signed production sharing contracts (PSCs) for two exploration blocks offshore Gabon: Niosi Marin and Guduma Marin (ex-G12-13 and H12-13).
Dangote Refinery in the Federal Republic of Nigeria, has denied receiving any payments for the purchase of refined petroleum products from the Independent Petroleum Marketers Association of Nigeria (IPMAN)
Eni had announced it had entered into a binding agreement with Hilcorp for the sale of the assets in June 2024. Having received the approval of all relevant authorities, the parties have proceeded to close the transaction.
The North Sea is famous as one of Europe’s top crude production sites, with the UK and Norway accounting for about 80% of the region’s output.
This increase comes as the market prepares for a week that includes a U.S. presidential election and a significant meeting in China, News.Az reports, citing Reuters.