AIM-listed Mosman Oil and Gas, the hydrocarbon, helium and hydrogen exploration, development, and production company, has provided an update on its Stanley project in the US (34.85% to 38.5% WI) where the recent gross production has increased 84% to circa 221 boepd (30 day average flow rate in April). This is a material improvement from the recently notified March quarter gross average flow rate of 120 boepd.
On Wednesday, May 1st, Brazil’s Tupi field reached 15 years of operations and 2.6 Bboe or accumulated production, with seven units in operation. Located offshore Brazil in the Santos basin, Tupi is the country’s largest producing field, with an average volume of 850,000 bopd, accounting for 20% of the total produced in Brazil, according to Petrobras.
Top executives at U.S. oil giants Exxon Mobil and Chevron Corp said on Monday that the U.S. needs to clarify rules on energy subsidies to drive the rapid, large-scale investments needed to fight climate change.
Brent crude futures rose 21 cents, or 0.3%, to US$83.54 a barrel by 0810 GMT while U.S. West Texas Intermediate (WTI) crude futures were up 1 cent at US$78.49
Saudi Aramco has raised the official selling price of all the grades it exports to Asia, with flagship Arab Light for delivery in June set to become $0.90 more expensive, Bloomberg reported citing a pricing list it had seen.
Global maritime company BW Group has unveiled plans to separate BW Energy as an oil and gas exploration business from its maritime businesses, as part of corporate restructuring process.
Houston — As Big Oil returns this week to the industry’s annual showcase for offshore energy projects and equipment in Houston, deepwater discoveries off Guyana, Namibia and the US Gulf Coast will take the spotlight.
Uganda will start importing fuel directly from next month in a deal with Vitol Bahrain which the country hopes will supply cheap petroleum products.
Oil and gas production was a boon for one of Africa’s smallest nations, but it is now caught between dwindling hydrocarbon reserves and the pressures of the energy transition.
Azule Energy, an equal joint venture between BP and Italian oil major Eni for their Angolan business, has signed an agreement with Rhino Resources of Namibia for a 42.5 per cent interest in the country’s offshore oil bloc in the Orange Basin.