Italian major offloads a third of its shares in Italian contractor current, but still controls one fifth of company
Senegal’s President Bassirou Diomaye Faye has said profits from the sale of oil and gas will be “well managed” as the West African state started producing oil for the first time.
This week’s announcement of the government’s plans to reopen New Zealand’s territorial waters to oil drilling comes as no surprise. All three coalition parties campaigned on reversing the 2018 ban on offshore oil exploration.
Matador Resources Company has announced a significant acquisition in the Permian basin. A subsidiary of Matador is set to purchase a subsidiary of Ameredev II Parent, LLC, which includes oil and natural gas properties in Lea County, New Mexico, and Loving and Winkler Counties, Texas.
New Zealand proposed a ban on oil and gas exploration back in 2018.
This week, the coalition government said it would introduce a bill in Parliament in the second half of 2024 to remove the ban on petroleum exploration beyond onshore Taranaki.
The removal of the ban is aimed at dealing with the energy security challenges posed by rapidly declining natural gas reserves.
Indonesia’s upstream industry is poised to grow strongly in 2024 and beyond as the government has offered number of blocks for exploration and production.
Japanese FPSO operator MODEC has congratulated Woodside Energy on starting production at Senegal’s first offshore oil development where a floating production storage offloading (FPSO) unit it sold to the Australian energy giant is working.
PTT Exploration and Production, Thailand’s national upstream company, has acquired the 10% participating interest held by German independent Wintershall Dea in the UAE’s Ghasha Concession, the companies announced on Tuesday.
Saudi Arabia’s oil giant Aramco looks caught between a rock and a hard place. It seeks to win over new investors, especially foreign ones, while at the same time – as the world’s top crude oil exporter and the biggest OPEC producer – not allowing oil prices to crash.
In the June STEO, the US EIA reduced its forecast for OPEC+ oil production for the rest of 2024.