oil and gas

Exxon and Chevron must decide whether they are more enemies than ‘frenemies’

Oil & Gas | intent | February 28, 2024 | Comment off

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The rivalry between ExxonMobil and Chevron has plumbed a new depth. On Monday, securities filings revealed a hang-up in Chevron’s $60bn stock deal to acquire smaller rival Hess Corporation. Hess’s crown jewel is a stake in the Stabroek deepwater field located off the coast of Guyana. A controlling 45 per cent stake happens to belong to Exxon.

Louisiana oil and gas industry concerned for the future due to planned decrease of offshore leases

Uncategorized | intent | February 28, 2024 | Comment off

LAKE CHARLES, La. (KPLC) – A big change to how oil and gas companies do business in the Gulf.
The Biden administration plans to decrease the number of offshore oil and gas leases over the next 5 years.

Seatrium settles corruption probe in Brazil for $137m

Oil & Gas‚ Oil and Gas Industry | intent | February 28, 2024 | Comment off

Seatrium has reached in-principle settlement agreements with the Brazilian authorities concerning “Operation Car Wash”, a probe into allegations of bribes to secure contracts in the country’s offshore energy sector.

SONA24: Gold-for-oil has significantly reduced pressures on forex – Akufo-Addo

Oil & Gas‚ Press Release | intent | February 28, 2024 | Comment off

President Nana Akufo-Addo has indicated that the government’s gold-for-oil policy has significantly reduced pressure on forex.

Africa Oil 2023 profit driven by Prime investment

Oil and Gas Industry | intent | February 28, 2024 | Comment off

Africa Oil Corp (TSX:AOI) swung to a profit for the full year 2023 driven by income from its joint venture Prime Oil & Gas Coöperatief U.A.

Russia orders halt on petrol exports

Oil & Gas | intent | February 28, 2024 | Comment off

Coming amid attacks on refineries, ban is intended to avert shortages and spiking prices on the domestic market.

TotalEnergies, Shell, Chevron Intensify Focus on African Oil and Gas Resources

Oil & Gas‚ Oil and Gas Industry | intent | February 28, 2024 | Comment off

Major international oil companies (IOCs) are reaffirming their dedication to the development of African oil and gas resources, signaling positive prospects for service providers, drilling contractors, and the wider industry. During a recent event in Nigeria, top representatives from TotalEnergies, Shell, and Chevron disclosed substantial investment plans, spanning from pioneering exploration endeavors to facilitating gas supply from mature markets. With the Invest in African Energy (IAE) forum scheduled for May in Paris, there exists a prime opportunity for investors to capitalize on this renewed commitment to advancing Africa’s energy sector.

Oil Rises Ahead of Weekly Inventory Data

Oil & Gas | intent | February 28, 2024 | Comment off

Oil prices continue to trade in a very narrow bandwidth with ICE Brent still hovering around the $83 per barrel mark, with traders anticipating potentially impactful US economy data coming in later this week – first the US personal consumption expenditures readings, followed up by European inflation figures and Chinese PMI developments reflecting the Chinese Lunar New Year.

Iraq’s Endemic Corruption Costs It Another Massive Oil and Gas Opportunity

Oil & Gas‚ Oil and Gas Industry | intent | February 27, 2024 | Comment off

British supermajor Shell last week exited Iraq’s potentially game-changing US$11-billion Nebras Petrochemical Project.
Shell signed the NPP deal, having agreed to the original memorandum of understanding back in 2012.
The key problem stopping Iraq from fulfilling its potential in oil, gas, and petrochemicals, remains the widespread corruption in its oil and gas sector, among others,

Uncovered: Italian Oil Giant’s African Biofuels Gamble Falls Short

Oil & Gas‚ Oil and Gas Industry | intent | February 27, 2024 | Comment off

Investigation into Eni’s projects in Kenya and the Republic of the Congo shows company is failing to produce “miracle” drought-resistant biofuels crops at scale.

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