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(OM) BW Energy is progressing its planned Maromba field development in the Campos Basin offshore Brazil, the company revealed in its latest results review. Last April it entered an agreement to purchase the FPSO Polvo from BW Offshore for deployment on Maromba following an upgrade. Discussions continue on financing this process, and planned first oil has now been pushed... Continue Reading →
(Reuters) - A U.S. judge on Tuesday ordered Glencore Plc (GLEN.L) to pay $700 million in connection with its guilty plea over a decade-long scheme to bribe foreign officials across several countries. The sentence handed down by U.S. District Judge Lorna Schofield in Manhattan federal court consisted of a $428.5 million fine and $272 million in forfeiture,... Continue Reading →
Eni Angola, a wholly-owned subsidiary of Azule Energy, has awarded Malaysian FPSO operator Yinson with a contract to deliver a floating, production, storage and offloading (FPSO) asset for the Agogo field development located offshore Angola. Under the firm contract, Yinson will provide, operate and maintain the FPSO for the Agogo Integrated West Hub Development Project,... Continue Reading →
(Reuters) 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, including ONGC Videsh, the foreign investment arm of Oil... Continue Reading →
(Bloomberg) – As China scoops up more and more discounted Russian oil, producers in Africa and South America are losing out. Angola is among the hardest hit at the moment, with daily oil exports to China falling 27% so far this month, compared with the whole of February last year, according to data and analytics... Continue Reading →
Oil and gas producer Wintershall Dea swung to a loss last year, hit by significant impairments and losses related to Russia's war in Ukraine, it said on Thursday. Wintershall reported a group net loss of 4.8 billion euros ($5.1 billion), including 7 billion euros in one-off, non-cash losses related to its Russian upstream and associated midstream... Continue Reading →
(OE) French oil major TotalEnergies is set to embark on a multi-well appraisal and exploration program offshore Nambia, where it made one of the world's largest oil discoveries in 2022, by drilling the Venus-1x well. According to Impact Oil & Gas Limited, one of TotalEnergies' partners in the offshore acreage in Nambia, the drilling will... Continue Reading →
TechnipFMC has secured a “significant” contract with TotalEnergies EP Angola for the supply of flexible pipe and associated hardware for a life extension project. The contract covers the engineering, procurement, and supply of flowlines and connectors for the Girassol Life Extension project (GIRLIFEX) offshore Angola. According to TechnipFMC, the flexible pipes are set to extend the life... Continue Reading →
Galp has agreed to sell its upstream assets offshore Angola to Somoil -Sociedade Petrolífera Angolana. The transaction, estimated at about $830 million, should complete during the second half of this year. The sale comprises Block 14 (9% Galp): Tombua; Landana; BBLT – Benguela, Belize, Lobito, Tomboco; and Kuito; Block 14K (4.5% Galp): Lianzi; Block 32 (5% Galp): Kaombo... Continue Reading →
(Reuters) - Portugal's Galp Energia (GALP.LS) has mandated Bank of America to prepare a sale of its 10% stake in a multibillion-dollar natural gas project in Mozambique's Rovuma basin, the Negocios newspaper said on Thursday, citing an unidentified source linked to the energy sector. There would be no lack of interest in Galp's stake as the war... Continue Reading →
