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Italian energy service group Saipem said it was unable to update its outlook for the year due to uncertainty over a project in Mozambique as it missed first-quarter expectations. Earlier this week French energy group Total declared force majeure on its $20 billion liquefied natural gas (LNG) project in Mozambique following insurgent attacks. "Evaluations in... Continue Reading →
Independent oil and gas exploration and production company PetroNor has received the necessary approvals for the acquisition of high potential acreage offshore Guinea-Bissau through the buy of SPE Guinea Bissau AB. PetroNor said on Monday that approvals were a condition necessary to complete the transaction. Consequently, the transaction will complete as per the terms of... Continue Reading →
(Reuters) Total declared force majeure on its $20 billion liquefied natural gas (LNG) project in Mozambique and confirmed it had withdrawn all staff from the construction site following insurgent attacks last month. Dozens of civilians were killed in the Islamic State-linked attacks in the coastal Mozambique town of Palma, near gas projects that are worth... Continue Reading →
(Reuters) Italy’s Eni (ENI.MI) is considering spinning off oil and gas operations in West Africa and the Middle East into new joint ventures to help reduce debt and fund its shift to low-carbon energy, according to company and industry sources. The move is part of a major overhaul the company launched last year as it transitions into... Continue Reading →
(Reuters) Global commodities trader Trafigura (TRAFGF.UL) has agreed to buy Angolan state oil giant Sonangol's 31.78% stake in loss-making Puma Energy for $600 million in a step towards raising its holding to more than 90%. Trafigura and Puma said in a joint statement on Friday that Puma had also agreed to sell its Angolan business... Continue Reading →
(Reuters) - China’s record imports of Iranian crude in recent months has squeezed out supply from rival producers, forcing sellers of oil from countries such as Brazil, Angola and Russia to slash prices and divert shipments to India and Europe. The jump in Iranian volumes took the market by surprise and has capped global oil... Continue Reading →
UK-based oil and gas company Tullow Oil has committed to becoming a net-zero company by 2030 on its Scope 1 and 2 emissions through a combination of asset decarbonisation and carbon offsetting program. Announcing its commitment to become a net-zero company, Tullow has recently said it will achieve this through a combination of decarbonising its... Continue Reading →
Oil and gas investment company ADM Energy which in March agreed to invest in the development of the Barracuda oil field in OML 141, an existing discovery and near-term production asset in swamp/shallow waters offshore Nigeria, has signed a deal with Eunissel to explore collaboration to develop the Barracuda. Under the term of the agreement, ADM... Continue Reading →
Italian oil and gas company Eni has made a new light oil discovery in Block 15/06, which is located in Angola’s deep offshore. Eni expects to start production from the well within six months through a fast-track tie-in to the Armada Olombendo FPSO. Eni said in an update on Tuesday that the well has been... Continue Reading →
Oil and gas company Tullow Oil on Tuesday said it was starting a multi-year, multi-well drilling campaign offshore Ghana. The campaign started with the start of drilling of the first well at the Jubilee offshore field on Monday. Maersk Drilling's Maersk Venturer drillship is expected to drill four wells in total in 2021, consisting of... Continue Reading →
Brazil Energy Insight 