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Oil Majors, Governments Haggle over Oil Output Cuts

Apr 28, 2020

From Kazakhstan and Azerbaijan to Nigeria and Angola, oil majors are haggling with national governments over how to share out deep production cuts that add to their pain from low oil prices and depressed fuel sales because of the coronavirus pandemic.Oil majors have traditionally escaped big cuts in OPEC nations, such as Nigeria, and have never experienced curbs in countries outside the OPEC club, such as Kazakhstan…

New Offshore Acreage Licensing to Drop 60% in 2020, Rystad says

Apr 15, 2020

Newly licensed offshore oil and gas exploration acreage is likely to fall by about 60% and onshore acreage by 30% compared with 2019 levels, Rystad Energy has said, as the Norwegian energy market analytics company expects more than half of the…

Total Sells Brunei, Sierra Leone, and Liberia Assets for $400M+

Apr 07, 2020

French oil firm Total has said it has sold assets in Brunei, Liberia, and Sierra Leone for more than $400 million, as part of its plan to divest $5B worth of assets in 2019-2020 period.The divestments announced Tuesday include non-core assets…

Aker Energy Delays Ghana Offshore Project 'Indefinitely'

Apr 01, 2020

Ghana's President Nana Akufo-Addo in February said he expected Norwegian oil firm Aker Energy to make a final investment decision on the Pecan offshore development 'within a month or two.' The wait is now set to be prolonged 'indefinitely.'Namely…

Polarcus' Project Cancellations Highlight Oil Price Slump

Mar 23, 2020

Polarcus Ltd, which operates ships that search for offshore oil and gas, announced two project cancellations that will reduce its fleet utilization next quarter, highlighting the effects of the oil price slump on the energy services sector.Polarcus'…

OPEC and How it Has Dealt with Oil Price Crashes

Mar 12, 2020

The Organization of the Petroleum Exporting Countries was set up in 1960 to coordinate oil production policy among its members but in recent decades it has increasingly cooperated with producers outside the group to manage the market. This month…

Yinson: Abigail-Joseph FPSO Sets Sail for Nigeria. First Oil in May

Feb 28, 2020

Malaysian FPSO leasing company Yinson has informed that its FPSO Abigail-Joseph has set sail from Singapore to Nigeria, where it will be deployed at First E&P offshore oil fields.The FPSO, previously named Allan, has recently been upgraded by Keppel in Singapore…

ALP to Tow Giant Coral Sul FLNG from S. Korea to Mozambique

Feb 17, 2020

Dutch ocean-towing company ALP will tow Eni's giant FLNG vessel Coral Sul (South) from South Korea to Mozambique, and will also assist with the mooring operations once on location.ALP on Monday said that TechnipFMC and JGC had contracted it…

Woodside Wins Senegal Case

Feb 14, 2020

Australian oil and gas company Far has lost a case against its compatriot Woodside in which it challenged Woodside's acquisition of ConocoPhillips' stake in the SNE field off Senegal in 2016, claiming pre-emption rights. The field is now known as Sangomar…

Wellpro Announces New Hires

Nov 11, 2019

Well intervention company Wellpro Group announced two new appointments as it eyes further expansion in the Eastern Hemisphere.Mark Fraser has taken up the role of Regional Manager in the Middle East, while Martin Webster has been appointed Regional Manager in Asia…

SCD JV Win $10bln NLNG Train7

Sep 13, 2019

The Nigerian Liquefied Natural Gas Company (NLNG) signed a “letter of intent” with SCD JV as preferred bidder to construct the $10bn NLNG Train 7 project.SCD JV  is a joint venture consortium comprising Saipem, Chiyoda and Daewoo.'SCD JV is the preferred bidder for  the contract for the Engineering…

US Judge Rejects Exxon, Shell Nigeria Case

Sep 04, 2019

A U.S. judge on Wednesday rejected Exxon Mobil Corp's and Royal Dutch Shell Plc's effort to revive a $1.8 billion arbitration award against Nigeria's state-run oil company, which stemmed from a dispute over a 1993 contract to extract oil near the African country's coastline…

African LNG to Attract $103Bln in 2019

Aug 21, 2019

With greenfield investments in Nigeria, Egypt, Mozambique and elsewhere reaching nearly $103 billion this year, it is clear that liquefaction is viewed as the most profitable strategy for realizing Africa’s gas potential, said Gas Exporting Countries Forum (GECF)…

Tullow Decides $33 Mln Interim Payout

Jul 25, 2019

The board of British oil producer Tullow will pay an interim dividend of 2.35 cents per share, representing a payout of about $33 million, the company said on Wednesday, in line with plans to disburse at least $100 million a year.The dividend…

Tanzania State Oil Company Chief Reinstated

Jul 23, 2019

The former head of Tanzania's state company oil is being reinstated by Tanzanian President John Magufuli, after the executive was suspended in 2016 over claims of abuse of office, the presidency said.James Mataragio, who was the managing director…

Current News

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QP: North Field Works Going Full Steam Ahead.

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India's April Crude Processing in Biggest Drop Since 2003

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Lockdown Measures Tightened at Kazakhstan's Karachaganak Gas Field

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Mammoet Lands its ‘Biggest Ever’ Contract at Arctic LNG 2 Project

Malaysia: Tanjong Baram Field Contract Terminated

Malaysia: Tanjong Baram Field Contract Terminated

Lightning Sparks Fire at Hengyuan's Malaysian Refinery

Lightning Sparks Fire at Hengyuan's Malaysian Refinery

Petronas Braces for Severe 2020 Hit. 1Q Profit Down 68%

Petronas Braces for Severe 2020 Hit. 1Q Profit Down 68%

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