Tullow Oil swung into a loss in 2023 after cutting the value of reserves in one of its West African oilfields, as its chief executive said the company would consider shareholder returns after 2025.The London-listed company said on Wednesday it posted a $110 million loss after tax last year…
Ghana plans to introduce a more flexible oil royalties regime as soon as next year to spur investment and reduce risk for energy companies, the head of the state oil sector regulator said on Thursday.Egbert Faibille Jr, CEO of Ghana's Petroleum Commission…
West Africa-focused Tullow Oil on Wednesday trimmed its 2023 production forecast for a second time, mainly due to delays in Jubilee oilfield's southeast extension off Ghana.In September, the London-listed company had reduced the upper end of its production guidance for the year to 58…
Tullow Oil said on Monday it had entered into a $400 million five-year debt facility deal with Glencore, which would help manage its senior notes maturing through 2026.The facility, with Glencore Energy UK Ltd, will be available to draw for…
German Chancellor Olaf Scholz this weekend makes his third visit to sub-Saharan Africa in two years, as conflicts elsewhere highlight the growing importance of an energy-rich region in which Berlin has traditionally had little involvement.He will visit major energy producer Nigeria…
Ghana is looking to boost its oil and gas production by selling more exploration rights, aiming to avoid leaving valuable fossil fuels in the ground and generate revenue to fund its energy transition, a Ghanaian official said on Tuesday.The…
Oil company Tullow said Monday that production from its Jubilee oil field offshore Ghana had surpassed 100,000 barrels of oil per day, following the recent start-up of the Jubilee South East (JSE) Project.'Gross production from the field has surpassed 100…
Oil and gas company Tullow said Friday that production had started from the Jubilee South East (JSE) Project, offshore Ghana.The first JSE production well has been brought onstream and a further two producers and one water injector are expected…
AFC Equity Investment has agreed to buy Aker Energy, a company working to develop the Pecan oil field offshore Ghana, from Aker Capital and The Resource Group TRG AS.Aker today holds 50.79 percent of the shares in Aker Energy, and TRG holds 49…
Russia's Lukoil is in talks with Indian companies to sell its stake in the Pecan oilfield off Ghana, which could help to break an impasse in submitting development plans for the field, sources familiar with the matter said. Talks between Lukoil officials and Indian companies…
Tullow Oil said on Tuesday its Ghana unit filed for arbitration in London over two tax assessments the West Africa-focused oil producer received from local authorities.The tax assessments Tullow disputes amount to $387 million relating to a period from 2010 to 2020…
ONGC Videsh (OVL) Ltd, the overseas exploration arm of India's Oil and Natural Gas Corp, is looking for exploration and production investment opportunities in Africa and Latin America, such as in Ghana and Surinam, managing director Rajarshi Gupta said…
West Africa-focused oil producer Tullow sees its 2022 free cash flow at $267 million, slightly ahead of previous guidance and up from $245 million the previous year, it said in a trading update on Wednesday. It plans to invest $400 million this year…
Offshore drilling firm Shelf Drilling said Friday it had won a one-year drilling contract for one of its jack-up rigs.The contract is for the Trident VIII jack-up rig for operations offshore Nigeria. 'The rig will complete a short out-of-service…
Energy industry engineering and maintenance services company Sparrows Group has secured a two-year contract to provide crane maintenance services onboard Tullow Oil’s FPSO Kwame Nkrumah at the Jubilee offshore oil field in Ghana.Sparrows will be responsible for the maintenance…
AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week
