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(Reuters) Norway's Equinor has launched the sale of its stake in an offshore Nigerian oilfield, joining a retreat by Western energy firms from the West African country as they focus on newer and more profitable operations, three industry sources said. The company has hired investment bank Standard Chartered to run the sale process, which could... Continue Reading →
Energy producer Hess Corp. on Wednesday beat Wall Street estimates for fourth-quarter profit on higher crude prices, and said it had found more oil offshore Guyana. Western sanctions against major energy producer Russia and the decision of producer group OPEC+ to cut output by 2 million barrels per day pushed up Brent crude prices by... Continue Reading →
Vallourec has signed a long-term agreement with Petrobras for OCTG (Oil Country Tubular Goods) solutions. The three-year agreement covers the supply of OCTG Premium products, associated accessories, and specialized physical and digital services, representing a volume of supply above 110kt of products and accessories. These products, associated accessories, and physical and digital services will support... Continue Reading →
Karoon announced an increase in its proven reserves (1P) in block BM-S-40 – which encompasses the producing Baúna and Piracaba fields and the Patola field, which is under development. The block, located in the Santos Basin, has 42.8 million barrels in 1P reserves, according to an assessment reviewed and certified by AGR Energy Services (dated... Continue Reading →
TotalEnergies' offshore oilfield Dalia in Angola will undergo planned maintenance for about 35 days starting Feb. 20, a company spokesperson said on Tuesday. The company added that the maintenance will include inspections of equipment, subsea lines and works relating to flare tips. The field produces more than 200,000 barrels per day. Traders said there may... Continue Reading →
(Reuters) U.S. oil and gas producer Hess Corp on Tuesday forecast higher Exploration & Production (E&P) capital and exploratory budget of $3.7 billion for 2023, of which more than 80% would be allocated to Guyana and North Dakota's Bakken shale field. The company forecast 2022 E&P capital and exploratory expenditures of about $2.7 billion. The... Continue Reading →
(Reuters) Trinidad and Tobago will consider direct negotiations with energy companies for oil and gas exploration, possibly moving away from a competitive bidding round system, Prime Minister Keith Rowley said on Monday. The talks follow difficulties attracting new companies to its recent shallow and deepwater bidding rounds, which have led the government to renegotiate terms... Continue Reading →
(Reuters) Guyana is in talks with Qatar, Britain, the United Arab Emirates, and India on the possibility of directly allocating offshore blocks for oil and gas exploration in parallel with a bidding round this year, President Irfaan Ali said on Monday. South America's newest crude producer has emerged as the world's fast-growing oil region with... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the Material Facts disclosed on April 9, 2021, April 13 and 27, 2022, informs that it received today, up front, from TotalEnergies EP Brasil Ltda (TotalEnergies), the amount of R$ 313 million, regarding the complement of the firm compensation (earnout) for fiscal year 2022, related to the... Continue Reading →
Over the past three years, the majority of U.S. energy companies have avoided spending big to expand production in the aftermath of the 2020 oil crisis, prioritizing returning more cash to shareholders in the form of dividends and share buybacks. Most oil and gas companies have only announced small increases in their capital spending for... Continue Reading →
