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(Reuters) West Africa-focused Tullow Oil's chief executive TLW.L said on Wednesday its Jubilee offshore oilfield in Ghana could produce 100,000 barrels of oil equivalent per day (boe/d) and the TEN field 50,000 boe/d by 2025 under current spending plans. Tullow will spend most of its $350 million investment program this year on Ghana, where Jubilee produced around 75,000 boe/d in 2021... Continue Reading →
(OE) U.S.-based offshore support vessel owner Tidewater said Wednesday it had agreed to acquire Swire Pacific Offshore Holdings Limited (“SPO”), a subsidiary of Swire Pacific Limited for around $190 million. Tidewater said the transaction would create the industry’s largest fleet of offshore support vessels with 203 vessels in total, including crew boats, tug boats, and... Continue Reading →
(WO/Bloomberg) — President Joe Biden’s ban on Russian oil imports puts new pressure on U.S. drillers to help fill a supply shortfall that has sent crude prices to the highest levels since 2008. Among them: EOG Resources Inc. and Devon Energy Corp., two shale giants that are sitting on thousands of federal drilling permits, many of which could... Continue Reading →
(Reuters) - Schlumberger's (SLB.N) current-quarter results are likely to be impacted by the ongoing Russia-Ukraine conflict, its chief executive officer said on Tuesday, as Moscow accounts for about 5% of the oilfield services company's global revenue. Crude prices have surged since the beginning of March on worries over the invasion of Ukraine and as the United States... Continue Reading →
(Reuters) - Global commodities trader Trafigura Group raised a $1.2 billion revolving credit facility from a consortium of banks to increase its financing pool in order to handle soaring energy and commodity prices, the company said on Tuesday. "It was set up in record time...thanks to the support of the group of underwriters, as the... Continue Reading →
(Reuters) - Western allies’ sanctions against Russia have started to blow back in the form of large potential losses for their own banks, companies and investors, often in unexpected ways. In the past, such fires have been precursors to financial crises. But some market participants say they aren’t seeing panic in the market, at least... Continue Reading →
Borders & Southern Petroleum, a company with oil and gas exploration assets offshore the Falkand Islands, is looking to raise $1.8 million via a placement of shares. It will use the proceeds for general working capital purposes and for work on its Darwin offshore discovery in the Falklands. The London-based independent oil & gas exploration... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the releases disclosed on 09/29/2021 and 10/04/2021, informs that it has signed a contract with its partner CNOOC Petroleum Brasil Ltda. (CPBL) for the assignment of 5% of its interest in the Production Sharing Contract of the Transfer of Rights Surplus, for the Búzios field, in the... Continue Reading →
The Swiss-based company behind the Nord Stream 2 pipeline denied on Wednesday that it filed for bankruptcy but confirmed it terminated employee contracts. It had previously been reported by several online sources that the company had filed for bankruptcy, and fired all 106 of its employees. Nord Stream 2 was one of the first targets of the... Continue Reading →
(Reuters) - Argentine state oil company YPF (YPFD.BA) on Thursday posted a $247 million net profit in the fourth quarter 2021, a 54% drop compared to the year-ago period. The company said profit was hurt by high international prices that could not be fully passed onto local customers. However, revenue grew from some of its main petroleum... Continue Reading →
