In recent years, Colombia’s oil production and reserves have been in decline and interest in investing in the country’s crude seemed limited in the post-pandemic landscape. In addition, President Petro has been vocal about supporting a green transition and restricting investment in new fossil fuel projects. However, in recent months, there has been a renewed interest in developing exploration and production.
OPEC+ did what everyone expected it to do last weekend, announcing another production ramp-up. Prices, however, did something that not everyone expected them to do: they went up. All eyes are now on demand—and the disruption of supply.
Shell Trinidad and Tobago Ltd. has reached a positive FID for the Aphrodite offshore gasfield project in Trinidad and Tobago, the company announced on Tuesday.
Singa Renewables Pte. Ltd., a joint venture between TotalEnergies SE and RGE (Royal Golden Eagle) Pte. Ltd., has been granted a conditional license by Singapore’s Energy Market Authority (EMA) to import 1 gigawatt (GW) of renewable power from Indonesia.
bp, together with its partners, has entered into a series of agreements that will build and expand on its major oil and gas interests in Azerbaijan, paving the way for growth and additional production while deepening its partnership with the country and state oil company, SOCAR.
Petronas, as the Malaysian state energy firm is known, is working with a financial adviser on a potential disposal, the people said, asking not to be identified because the deliberations are private. A transaction could value the Canadian business at $6 billion to $7 billion, they said.
Brazil’s energy ministry has proposed measures to raise around 35 billion reais ($6.2 billion) from the oil industry over the next two years to help the government meet its fiscal targets.
The deal marks a rare consolidation move among two of the biggest publicly traded owners of mineral rights and royalties in the U.S. shale patch. It’s also the second major transaction for Viper this year, after its $4.5 billion acquisition of certain minerals and royalties from Diamondback announced in January.
President Bola Ahmed Tinubu has signed a new executive order introducing performance-based tax incentives to reduce project costs and boost investment in upstream oil and gas operations, the Special Adviser to the President on Energy Olu Verheijen announced on Thursday.
The Government of Ghana, together with Tullow Oil plc, Kosmos Energy PetroSA, Ghana National Petroleum Corporation (GNPC) and Explorco have jointly announced that they have entered into a Memorandum of Understanding (MoU) to extend the West Cape Three Points and Deep Water Tano licences to 2040, which cover the Jubilee and TEN fields in Ghana.