Eni SPA is combining its upstream oil and gas business in the United Kingdom with Ithaca Energy PLC, in a transaction expected to potentially give the Italian energy major a leading position in the UK continental shelf (UKCS).
UK-headquartered oil and gas company Trident Energy has expanded its footprint on Africa’s oil and gas scene by inking strategic agreements with two oil majors, the U.S.-based Chevron and France’s TotalEnergies, which enable it to get its hands on offshore acreage in the Republic of Congo.
However, the deal excludes Eni’s East Irish Sea assets and carbon capture and storage activities.
A new report published by independent research and business intelligence company, Rystad Energy shows the oil and gas sector’s supply chain possesses between 60 to 80% of the capabilities required to develop the UK’s low carbon energies, but targeted investment is vital to capture the potential of an estimated £150 billion opportunity.
Dagang NeXchange Bhd’s (DNeX) UK upstream oil and gas arm Ping Petroleum UK plc (Ping UK) has added three more North Sea oilfield licences to its portfolio.
Offshore energy’s trade body is pushing back against campaign damage to its reputation and political harm to its prospects.
Unpredictable tax changes on Britain’s oil and gas production are making the industry “uninvestable” to internationally mobile finance, it is claimed.
While climate change campaigners say fossil fuel emissions are already busting temperature limits, the case for continued supply is that there will continue to be demand.
UK-based Challenger Energy finalized the contract for its second offshore block in Uruguay on Monday, as hopes of oil and natural gas production in the South American country grow.
Saudis Continue Sending Oil via Tense Red Sea
by Bloomberg|Matthew Martin & Anthony Di Paola|Friday, January 26, 2024
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Saudis Continue Sending Oil via Tense Red Sea
Aramco is bucking threats on Red Sea vessels from Yemen’s Houthi rebels.
Image by sandsun via iStock
Saudi Aramco, the world’s largest oil company, is continuing to send tanker loads of crude and fuels through the southern Red Sea, where Houthi militants have for months been menacing merchant ships in response to Israel’s war in Gaza.
Oil prices have nearly erased all year-to-date gains as shrinking refining margins signal weaker demand for oil.
Energy giant BP has reported lower than expected profits despite global oil prices rising again.