Thursday, January 23, 2020

Angola News

Saipem Tallies $1.7 Bln Drilling Contracts

(File photo: Saipem)

Italian oilfield services firm Saipem announced Friday it has secured approximately $1.7 billion in new and extended drilling contracts for its offshore and onshore divisions.The…

Africa: Strong Scope for Offshore Licensing in 2020

Image: Total

Throughout 2019 Africa has led licensing round activity; looking forward to 2020 this is set to continue, however results of the recent rounds have had limited success in a global…

India's Oil Imports at 3-year Low

© Björn Wylezich / Adobe Stock

India's oil imports fell to their lowest in more than three years in September to 3.82 million barrels per day (bpd), data obtained from industry and shipping sources showed, as…

Angola Hopes Reforms Will Aid Oil Assets Sales

© silvapinto / Adobe Stock

Angola is hoping sweeping economic reforms will smooth an ambitious plan to sell key state assets, including stakes in oil company Sonangol, a share of Puma Energy and more than…

Angola Seeks to Reduce Gas Flaring to Capture Revenue

© Igor Kardasov / Adobe Stock

Angola wants to cash in on the roughly 3 billion cubic feet per day of associated natural gas it produces, most of which is now flared, the petroleum minister said on Wednesday.The…

Brazil Leads FPSO Crude Production Capacity

Image: Petrobras

Brazil will also lead globally on crude production capacity through upcoming floating production storage and offloading (FPSO) vessels with 2,430 thousand barrels per day (mbd)…

Total Plans $5 Bln in Asset Sales

(File photo: Malfere Damien / Total)

French energy giant Total will sell around $5 billion worth of assets, mostly from its upstream exploration and production business, as it seeks to focus on low breakeven projects that can weather weak oil prices…

Total Launches New Supercomputer

(Photo: Total)

Energy major Total said its new supercomputer - which has propelled it to a world ranking as the most powerful computer in the sector - will enable its geologists to find oil faster…

ExxonMobil to Redevelop Angola Block 15

Image: ExxonMobil offshore vessel

American multinational oil and gas corporation ExxonMobil and its partners said that they will further invest in Block 15 offshore Angola to increase production as part of an agreement…

Record Number of VLCC Liftings at LOOP

Image: AdobeStock / © Jose Gill

Medium-sour crudes from the U.S. Gulf of Mexico are being snapped up by overseas buyers, paving way for a record six supertankers to load at the Louisiana Offshore Oil Port (LOOP) in a matter of weeks…

Total Takes Over Toshiba's U.S. LNG Biz

Image:  Toshiba

French energy giant Total takes over the liquefied natural gas business of Japanese outfit Toshiba's Freeport LNG train tolling agreement and gains $800 million.The French oil and…

Equinor Q1 Beats Forecast

The Johan Sverdrup oilfield in the North Sea is on track to start production in November (Photo: Arne Reidar Mortensen / Equinor)

Norwegian oil and gas firm Equinor reported on Friday a small fall in quarterly operating profit, beating forecasts, and said its giant Johan Sverdrup oilfield in the North Sea remains on track to start production in Nov

Total Profits Take a Hit

(Photo: Total)

French energy major Total said its net profit for the first three months of the year fell 4 percent to $2.8 billion compared with a year ago due to volatile oil prices and debt costs…

Sonangol Plans to Downsize

© silvapinto / Adobe Stock

Angola's state oil company Sonangol plans to divest 52 joint ventures, reduce staff and focus on its core business, part of an ongoing reorganization and package of reforms designed to lure back investors…

Guanghui Signs 10-year LNG SPA with Total

Pic: Total EP

France’s Total and  Guanghui Energy, a China-based company, principally engaged in the natural gas and coal business, have signed a long-term sale and purchase agreement (SPA) for…

Eni Makes Major Oil Find Offshore Angola

(Photo: Eni)

Italian oil major Eni said on Wednesday it has made a major discovery in Block 15/06, in the Agogo exploration prospect, in the deep waters offshore Angola.The find is Angola's largest offshore discovery in years.

Record Production Lifts Total's Profits

(Photo: Total)

French energy major Total said its net adjusted profit rose 10 percent in the final quarter of 2018, lifting its full year earnings by more than a quarter after record oil and gas…

Deepwater Oil Output to Reach 10 mb/d in 2019

Graph: Rystad Energy

Global deepwater oil production was expected to grow 700,000 barrels  per day (b/d) this year to hit a record high of more than 10 million b/d.Norwegian research group Rystad Energy…

Eni Spuds New Vandumbu Well in Angola

N'Goma FPSO. Image: SBM Offshore

Italian oil company Eni said that it has successfully launched a new production well in the Vandumbu field, about 350 km north-west of Luanda and 130 km west of Soyo, in the West Hub of Block 15/06…

Total Starts Production at Egina Oilfield

(File photo: SAPETRO)

Total SA said on Wednesday it had started production from the Egina oilfield off Nigeria's coast, part of a shift by the French energy firm towards deepwater oil and gas projects to its drive cashflow.Output from Egina…