Sonangol Plans to Downsize
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, its chairman said on Friday."We are going to sell, close or put out of our group a lot companies…
BP Invests $6 Bln in Offshore Azerbaijan Project
The British multinational oil and gas company BP and its partners will lead a $6 billion development of the giant Azeri-Chirag-Deepwater Gunashli (ACG) oil-field complex offshore Azerbaijan.The supermajor said that the Azeri Central East (ACE) project includes a new offshore platform and facilities designed to process up to 100…
US Rig Count Dips
U.S. energy firms this week reduced the number of oil rigs operating for the first time in three weeks as production growth forecasts from shale, the country's largest oil fields, continue to shrink.Drillers cut eight oil rigs in the week to April 18, bringing the total count down to 825…
ExxonMobil Wins 3 Blocks Off Argentina
U.S. oil major Exxon Mobil Corp said that its unit and an affiliate of Qatar Petroleum had won three exploration blocks offshore Argentina.ExxonMobil has increased holdings in Argentina after its subsidiary ExxonMobil Argentina Offshore Investments B.V. and an affiliate of Qatar…
Chevron to Buy Anadarko for $33 Bln
Chevron Corp on Friday said it will buy oil and gas producer Anadarko Petroleum Corp for $33 billion in cash and stock in a deal that doubles down on its bet on U.S. shale and LNG as U.S. energy production is shattering records.The deal makes Chevron the second-largest major by crude production, behind Exxon Mobil Corp, up from fourth.
Study Shows LNG Forming Pathway to IMO 2050
Greenhouse Gas (GHG) reductions of up to 21% are achievable now from LNG as a marine fuel, compared with current oil-based marine fuels over the entire life-cycle from Well-to-Wake (WtW).An independent study report confirms that emissions of other local pollutants, such as sulphur oxides (SOx)…
BP Plans to Exit China's Shale Gas
European oil major BP plans to exit from two production sharing contracts (PSC) for projects drilling for shale gas in the southwestern Chinese province of Sichuan, three sources with the knowledge of the matter said this week.BP is the last of the international oil majors, including Royal Dutch Shell…
Total, Exxon Sign for Papua New Guinea LNG Project
French energy giant Total and its partners ExxonMobil and Oil Search have signed the Gas Agreement with the Independent State of Papua New Guinea defining the fiscal framework for the Papua LNG Project.The Papua LNG project Gas Agreement allows the partners to enter the Front-End…
$13 Bln Papua LNG Project Pushes Ahead
France's Total and its partners signed a long-awaited deal with Papua New Guinea on Tuesday that will allow initial work to start on a $13 billion plan to double the country's liquefied natural gas exports.Developing the Pacific island nation's gas reserves is seen as crucial to its economy as LNG is its biggest export earner…
Petrobras to Bid in Israeli Gas Tender
Israel's energy minister said on Sunday that Brazilian state-run oil firm Petrobras will take part in a tender to explore for oil and gas off Israel's shore, Reuters reports."It was agreed that Petrobras ... will take part in a process of oil and gas exploration in Israel," Energy…
Orinduik Partners to Drill 2nd Well Off Guyana
Partners Tullow Oil, Total and Eco Atlantic have chosen the Joe prospect for a second well in their much-watched Orinduik oil and gas field off Guyana's coast, Eco said on Friday.Eco earlier this month increased the estimate for the field to about 3.9 billion barrels of oil equivalent…
IMO 2020: Exxon Mobil Projects 25% Decline in High-Sulfur Fuels
Exxon Mobil Corp expects high-sulfur fuel oil demand to fall 25 percent by 2025, as a new set of emission regulations from the International Maritime Organization capping sulfur content in shipping fuel at 0.5% kicks in in 2020, a top-level official at the U.S. oil and gas company…
Exxon, Chevron Accelerate Shale Production
The two biggest U.S. oil companies Chevron and ExxonMobil plan to significantly ramp up production in the US shale heartland as the oil behemoths are seeking to go from shale to scale in the Permian.Rystad Energy’s shale team analysed as to which operator holds the best potential…
US Rig Cuts Continue
U.S. energy firms this week reduced the number of oil rigs operating for a fifth week in a row to its lowest in nearly a year as independent producers follow through on plans to cut spending on new drilling with the government cutting its growth forecasts for shale output.Drillers cut nine oil rigs in the week to March 22…
Anadarko Mulls 16 LNG Charters for Mozambique
Anadarko said on Thursday it would seek long-term charters for around 16 liquefied natural gas (LNG) tankers it would need to ship gas from a proposed project in Mozambique.The independent U.S. energy producer aims to take a final investment decision on the $20 billion project in the coming months…
Expro Promotes Two Execs
Oilfield services company Expro announced Thursday it has promoted two company executives.Current Executive Vice President, Alistair Geddes, has been promoted to Chief Operating Officer (COO) with immediate effect, and Keith Palmer has been promoted to Executive Vice President – Product Lines and will be responsible for Expro’s product lines…
Oil Majors Rush to Dominate US Shale
In New Mexico's Chihuahuan Desert, Exxon Mobil Corp is building a massive shale oil project that its executives boast will allow it to ride out the industry's notorious boom-and-bust cycles.Workers at its Remuda lease near Carlsbad - part of a staff of 5,000 spread across New Mexico and Texas - are drilling wells…
Exxon Mulls FEED for Far East LNG Project
Exxon Mobil's Russian unit may take a decision this year on the Front End Engineering Design (FEED) for its Far East Liquefied Natural Gas project with Rosneft, Alexander Popov, vice president at Exxon Neftegaz, said on Wednesday.The company is continuing to hold talks on gas supplies from the Sakhalin 1 oil and gas project to Sakhalin 2, a project
BP, ExxonMobil in Alaska LNG Deal
Alaska Gasline Development Corp (AGDC) has signed an agreement with BP and Exxon Mobil to help advance the state-owned company's proposed $43.4 billion Alaska liquefied natural gas (LNG) project.According to the agreement, the concerned parties would work together to identify ways to improve the Alaska LNG project ’s competitiveness…
LNG Majors Okay MHPS Gas Turbine
The engineering and manufacturing giant Mitsubishi Heavy Industries Group (MHI Group) said it has completed successive technical qualification, conducted by oil majors and engineering companies on Mitsubishi Hitachi Power Systems’ 120MW H-100 Gas Turbine.To date, major LNG players…
