The discovery of oil and gas reserves has often been heralded as a catalyst for economic growth and development in many places around the world.
Hundreds of workers of Eni Ghana Exploration and Production Ltd have expressed disquiet over the seeming foul play in the unitisation of the Afina discovery in West Cape Three Points Block 2 Area (WCTP2) and the Sankofa field in Offshore West Cape Three Points Block Area (OCTP), which has been in contestation since 2020.
Exxon Mobil (NYSE:XOM) has begun to restart some units at its Joliet, Illinois, refinery after a three-week outage, OilPrice.com reported Thursday.
Savannah Energy has terminated its planned USD 1.25-billion acquisition of Petronas’s South Sudan operations, the UK company announced on Thursday
Halliburton has been awarded a contract by Petrobras to provide well intervention and plug and abandonment services in wells offshore Brazil, the oilfield services company announced on Thursday.
The field is estimated to contain more than 100 billion cubic meters of natural gas and lies in an average water depth of approximately 1,500 meters.
French specialty chemicals producer SNF has agreed to acquire PfP Industries and Ace Fluid Solutions, two oil and gas fluids firms based in Texas, USA. The strategic acquisitions, SNP said, expands its offerings for the company’s upstream oil and gas customers. Financial terms of the transactions were not disclosed.
Frontera Energy Corporation (TSX: FEC) has released its financial results for the second quarter of 2024, highlighting both operational and financial performance metrics. Frontera reported a net loss of $2.8 million for Q2 2024, improving from a net loss of $8.5 million in Q1 2024 but down from a net income of $80.2 million in Q2 2023. This loss was primarily driven by a $32.7 million income tax expense and $17.4 million in finance expenses, partially offset by $45.2 million in operating income.
The Organisation of Petroleum Exporting Countries (OPEC), has said supplies from Nigeria-based world’s largest single-train Dangote Refinery and Petrochemicals will put pressure on the performance of Europe’s oil industry, especially the Northwest Europe (NWE) Gasoil.
Gross oil production from the Jubilee Field offshore Ghana has been impacted by performance issues with a new producer well, operator Tullow Oil said in an update.