Slovakia is interested in the gas produced by Romania's Neptun Project
The slovak prime minister Robert Fico stated that the country is interested in receiving natural gas from Romania's Neptun Deep offshore Project, as its Russian supplies are set to cease next year. "We 'expressed interest, and said that if Romania plans to export this natural gas outside of its own territory -- that is, use it for its own consumption only -- Slovakia offers to utilize existing infrastructure.?And we will be interested to this gas on a business basis," Fico said during a televised meeting with Romanian Premier Ilie Bolojan at Bucharest.
Trinidad Minister: BP and Shell are seeking US licensing for shared gas fields with Venezuela.
Shell and BP seek?U.S. Shell and BP are seeking?U.S. Trinidad is Latin America’s largest liquefied gas exporter, and also one of the largest exporters in the world of ammonia and methane. However, the Caribbean island is aiming to develop offshore oil and gas fields near the border with Venezuela to secure its supply and counteract the declining reserves. In recent years, despite frequent U.S. changes in policy towards Venezuela, its gas projects have made slow progress.
Trinidad's BP head says the company is interested in cross border opportunities with Venezuela
BP's Trinidad and Tobago head said Monday that the oil and?gas?major was still interested in cross border opportunities with Venezuela despite a?government in Caracas that suspended all bilateral energy deals with its neighbor in last year. BP and Shell were granted licenses to develop offshore natural-gas projects along the maritime?border by the U.S. David Campbell, BP's spokesman, said: "There is a logic of industrial?reasoning? that says people may be more?cautious about investing in resources located across the border.
Romania: OMV Petrom signs a three-year gas supply contract with Moldova
Romanian oil-and-gas group OMV Petrom signed a contract for three years to deliver gas to Moldova from the Black Sea offshore Neptun Deep project, Romania's Energy Ministry announced on Wednesday. Neptun Deep, a joint venture between OMV Petrom, the Romanian state-owned Romgaz and OMV Petrom, is estimated to contain 100 billion cubic metres of recoverable natural gas and is considered one of Europe's largest gas deposits. Neptun Deep, Romania's largest energy project since it finished its second nuclear reactor nearly two decades ago…
The drilling of the offshore gas project in Romanian Black Sea has begun.
On Tuesday, the owners of Romania's Neptun Deep offshore project announced that drilling had begun in the Black Sea. This could lead to the production of one the EU's biggest gas deposits in 2027, which would ease the transition from Russian gas. Neptun Deep is jointly owned by the oil and gas company OMV Petrom, and Romania's Romgaz. It holds approximately 100 billion cubic metres of recoverable gas. OMV Petrom, a majority-owned company of Austria's OMV, is the largest shareholder in Neptun Deep.
Mexican tycoon Slim targets two of Pemex’s key fields to gain clout within the energy sector
Sources familiar with the matter say that the Mexican state energy company Pemex has been in contact with Carlos Slim, and the billionaire could be asked to help fund two of the most promising crude oil fields and natural gas deposits in the country. These negotiations, which were not previously reported, show Slim's increasing influence in Mexico's energy sector. His business empire, which includes telecommunications and banking, retail, insurance, and hospitality, is expanding.
Hungary turns to Romania for help in diversifying its energy sources
Hungary wants to expand its gas sector cooperation with Romania to diversify energy sources. Their respective companies are already in negotiations for an agreement. Szijjarto stated that Hungary is keen to work with Romania in energy matters as Romania will soon become a net gas exporter as a result of a new offshore field starting production. In a few weeks, Romania could begin drilling at the Neptun Deep field, which is one of the most important gas deposits in the European Union. This will allow it to double its production and possibly become a net gas exporter.
Woodside and Trinidad have agreed to initial commercial terms for deepwater natural gas, an executive says
According to three sources with knowledge of the discussions, a Woodside executive and a Trinidad and Tobago government official have agreed on an initial commercial agreement for the development of Woodside's Calypso gas deepwater discoveries. This brings the project closer to the final investment decision. In order to fully utilize its gas processing capability, the Caribbean country is Latin America's biggest LNG exporter. It has pushed producers, particularly those offshore, into accelerating natural gas production.
Congo cancels the licensing round for 27 oil block
According to a Monday statement on the hydrocarbons minister's X Twitter account, the Democratic Republic of Congo has canceled a licensing round originally launched in 2020 to tap the nation's potential for oil and gas. The statement of October 11 listed multiple reasons for cancellation. These included late submissions, inappropriate and irregular offers, as well as a lack competition. Aime Sakombi Molindo, hydrocarbons minister, said: "Given what I have just stated…
OMV Petrom Makes Largest Crude Oil Discovery in Decades
Romanian oil and gas group OMV Petrom, majority-controlled by Austria's OMV, said on Tuesday it discovered new crude oil and natural gas deposits equal to about three quarters of its overall 2022 production.The deposits are the largest crude oil discovery OMV Petrom has made in decades, it said, and were found in southern Romania holding over 30 million barrerls of oil equivalent (boe) of recoverable resources."The new discoveries will contribute to reducing the decline of our production and to the continuity of the supply of essential products for the economy…
PGNiG Open to Mergers with State-run Firms
Polish gas company PGNiG is open to consolidation with other energy companies, its newly appointed chief executive said on Friday, as the government tries to merge state-run firms to strengthen their market position.The Polish state is a major shareholder in the energy sector, which is undergoing unprecedented consolidation, with PKN Orlen planning to take over refiner Lotos and state utility Energa.Poland's government plans to merge the country's two biggest refiners to create a bigger player capable of competing on international markets."We want to be treated not jus
Oil And Gas Discoveries Hit 4-Year High
The global oil and gas explorers powered ahead and discovered 12.2 billion barrels of oil equivalent (boe) in 2019, the highest volume since 2015.According to Rystad Energy, last year recorded 26 discoveries of more than 100 million boe, with offshore regions dominating the list of new oil and gas deposits.Guyana’s success story from 2018 continued in 2019, with ExxonMobil adding four new discoveries within its offshore Stabroek block, while Tullow Oil’s Jethro…
China Opens Up to Foreign E&P Firms
For the first time, China will this year allow foreign companies to explore for and produce oil and gas in the country, opening up the industry to firms other than state-run energy giants, as Beijing looks to boost domestic energy supplies.The long-awaited opening accompanies a reshuffle of the so-called "midstream" pipeline business, but experts say it may not excite immediate interest from global drillers because of the poor overall asset quality of China's hydrocarbon resources.From May 1, foreign firms registered in China with net assets of 300 million yuan ($43 mi
Poland Ends Major Russian LNG Contract
Poland's state gas company PGNiG says it had notified Russia's Gazprom that it will not renew their long-term deal on liquefied natural gas (LNG) supplies when the agreement expires after 2022.In accordance with the provisions of the Yamal Contract, three years prior to its original termination date, i.e. by December 31st, 2019, the parties are required to submit a declaration whether or not they intend to continue their contractual relationship beyond 2022.Gazprom Export…
Poland Employs New Seismic Tech
The Polish state-controlled oil and gas company PGNiG said that its geophysical services provider Geofizyka Toruń SA became the first company in Europe to employ new seismic data acquisition technologies in searching for hydrocarbon deposits.The Polish oil and gas company said in a press release that the company is replacing the hitherto used cabled geophone networks with ultra-lightweight wireless nodal sensors. Their small size and low weight allow to conduct…
Oxy Would Sell Anadarko’s Africa Assets to Total
France's Total SA said on Sunday it has agreed with Occidental Petroleum Corp to acquire the African assets of Anadarko Petroleum Corp for $8.8 billion, should the two U.S. oil and gas companies clinch a deal to combine.The agreement with Total is the latest move by Occidental in its effort to convince Anadarko to accept a $38 billion cash-and stock acquisition offer and abandon its agreed $33 billion sale to Chevron Corp. On Tuesday, Occidental secured a $10…
Occidental Tops Chevron's Bid for Anadarko
Occidental Petroleum Corp on Wednesday started the first takeover battle for a major oil company in years, offering $38 billion for Anadarko Petroleum Corp, a bid that topped a $33 billion offer by Chevron Corp.Both suitors are offering a premium for Anadarko's holdings in the Permian Basin of West Texas and New Mexico. The vast shale field holds oil and gas deposits that can produce supplies for decades using new, low-cost drilling techniques.Occidental's surprise $76-per-share bid is valued at $57 billion, including debt.
Anadarko Nearing FID for Mozambique LNG
U.S. independent energy producer Anadarko moved closer to a final investment decision (FID) to build a giant liquefied natural gas (LNG) terminal in Mozambique after signing up an Indian buyer for the gas and saying another deal was imminent.Anadarko and Exxon Mobil are expected to sanction two separate but neighboring LNG projects in Mozambique this year after finding large offshore gas deposits, turning the African nation into a major global gas exporter.The…
Big Oil Digs North Sea's 'Final Frontier'
"Little hope of THIS rock ever producing oil," BP geologist Bill Senior scribbled in 1977 on a note assessing a recent oil discovery in a distant corner of the North Sea.That same rock is today the heart of BP's prized Clair field in the West of Shetland region, which this week started its second phase of production.The giant bridge-linked Clair Ridge platforms are among the projects that have given new life to this area of the North Sea, one of the oldest offshore basins…
Argentina to Export First LNG in 2019
Argentina is due to begin exports of liquefied natural gas from a part of its vast Vaca Muerta shale gas resource next year through a floating LNG liquefaction (FLNG) vessel provided by Exmar, the Belgian shipping company said on Wednesday.The operations, due to start in the second quarter of 2019, will introduce Argentina into the small club of around 20 countries exporting LNG while the FLNG will be only the world's fourth and the smallest.The country's state-controlled oil company YPF signed a 10-year agreement with Exmar to deploy the barge-based FLNG…