South Africa's cash-strapped power firm Eskom has approved a plan to cut executives jobs as it struggles to bring down operating costs, the utility said on Wednesday, the first step in the firm's proposed restructuring.'Eskom's operating costs…
The Republic of Congo has launched its latest oil exploration bidding round in Cape Town, offering 18 blocks in deep-water offshore and onshore sites in its efforts to boost production, the ministry of hydrocarbons said on Tuesday.Operators already in the country…
Nigeria's Senate voted on Tuesday to probe the state oil firm's alleged withdrawal of $1.05 billion from gas company Nigeria LNG.The Premium Times newspaper reported on Monday that the Nigerian National Petroleum Corporation (NNPC) had used…
Africa-focused Tullow Oil expects the first crude shipments from its Kenyan oilfields in the first half of 2019 and is pricing the product for the market, the company's chief executive said on Tuesday.Paul McDade also told Reuters that Tullow…
Brazil's Petroleo Brasileiro SA on Tuesday reported a surge in third-quarter net profit that still lagged forecasts as oil prices rose but spending at the state-owned company jumped.Petrobras made a net profit of 6.644 billion reais ($1.78 billion)…
North Sea operator Serica Energy has struck a deal with commodities giant BHP Billiton to up its stakes in two North Sea fields, taking it above 90 per cent ownership of the assets.Under the a sale and purchase agreement (SPA), Serica UK will acquire a 16…
Norway’s Uptime International has entered into two new contracts with compatriot vessel provider Island Offshore.'Island Clipper has secured a three-year agreement with Equinor as combined PSV and walk to work vessel. The vessel will be equipped with battery package…
Norwegian shipping company GC Rieber Shipping has entered into a time charter agreement with a European offshore client for the CSV Polar Queen for a fixed period of four months with options to extend by up to one month.A press note from the…
Oil and gas exploration and production company Kosmos Energy said that it has entered into a strategic alliance with Shell Exploration Company B.V. to jointly explore in Southern West Africa.Initially, the alliance will focus on Namibia, where…
U.S. oil and natural gas producer Occidental Petroleum Corp beat quarterly profit estimates on Monday, benefiting from a surge in production in the Permian Basin and higher prices.The company, which has been investing heavily to boost production in Permian…
Oil production in Brazil fell 5.9 percent in annual terms to an average of 2.486 million barrels per day, the nation's ANP oil regulator said on Monday.In a statement, the ANP said natural gas production fell 0.9 percent year-over-year to an average of 113 million cubic meters per day…
Algeria's Sonatrach on Monday signed a contract worth $248.5 million with Italy's Maire Tecnimont Spa to build a fourth liquefied petroleum gas (LPG) train at the Hassi Messaoud gas field, Sonatrach's chief executive said.The Italian firm had announced a preliminary deal in September…
Teekay LNG’s first floating storage unit (FSU) has been delivered to charterer Bahrain LNG.The vessel Bahrain Spirit was delivered from the shipyard in South Korea at the end of August, before going on hire on September 19, 2018.The FSU will…
The Government of India, acting through the Directorate General of Hydrocarbons, Ministry of Petroleum and Natural Gas has granted its approval for a 10-year extension of the Production Sharing Contract (PSC) for Vedanta subsidiary Cairn, Oil & Gas at the onshore Rajasthan Block RJ-ON-90/1…
Seven remaining wells are expected to be online at Libya's Bahr Essalam offshore gas field by the end of the year, the Libyan National Oil Corporation (NOC) said in a statement on Sunday.The statement came after a meeting between NOC Chairman Mustafa Sanalla and Eni CEO Claudio Descalzi…
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