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(Reuters) - Shell (SHEL.L) is set to conclude nearly a century of operations in Nigerian onshore oil and gas after agreeing to sell its subsidiary there to a consortium of five mostly local companies for up to $2.4 billion.The British energy giant pioneered Nigeria's oil and gas business beginning in the 1930s. It has struggled for years... Continue Reading →
Jumbo Offshore Installation Contractors B.V. (“Jumbo Offshore”) has been awarded a contract by MODEC Guyana Inc. (“MODEC”) for the pre-installation of the mooring spread of the FPSO Errea Wittu, which will be located offshore Guyana. The FPSO “Errea Wittu”, the name of which means ”abundance”, will have the capacity to store 2 million barrels of... Continue Reading →
(Reuters) - Exxon Mobil's write-down of about $2.5 billion of troubled California properties aims to end five decades of offshore oil production in the state, but a full exit from those assets could take some time. Sable Offshore, a company created in 2020, agreed more than a year ago to pay $643 million for Exxon's... Continue Reading →
(Reuters) - Shell (SHEL.L) on Monday flagged impairment charges of about $2.5 billion to $4.5 billion for the fourth quarter, mainly related to the Singapore refining and chemicals hub the oil major is looking to sell. The assets include a 237,000 barrels per day (bpd) refinery and a one million metric ton per year (tpy) ethylene plant... Continue Reading →
(Reuters) Exxon Mobil Corp warned on Thursday it would write down about $2.5 billion of California assets in the fourth quarter, and said lower energy prices reduced operating profits. The snapshot by the largest U.S. oil producer showed operating results could drop to about $8.9 billion, down 30% from the $12.7 billion net profit a year earlier, and 3% weaker... Continue Reading →
Petrobras signed, this Tuesday (02/1), a contract with the company FMC Technologies do Brasil, a subsidiary of TechnipFMC, which won the bid for the integrated Engineering, Acquisition, Construction and Installation (iEPCI™) contract, as well as the carrying out tests to develop the HISEP® technology, patented by Petrobras for the separation of oil and gas at... Continue Reading →
(OET) With energy security running the show, multiple new oil and gas projects were sanctioned throughout 2023. Among the top eight are the ones operated by TotalEnergies, Shell, ExxonMobil, Equinor, Woodside, OMV Petrom, and ADNOC. The year, which is now behind us, kicked off with an announcement from TotalEnergies and its partners, Shell and Repsol... Continue Reading →
(Reuters) - Chevron (CVX.N) said on Tuesday it would take non-cash writedowns on U.S. oil and gas production, primarily in California, and for securing abandoned wells and pipelines in the U.S. Gulf of Mexico that had been previously sold. The U.S. oil major expects to take non-cash, after-tax charges of between $3.5 billion and $4 billion in... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that the Board of Directors has approved the company's operations in São Tomé and Príncipe, a country on the west coast of Africa, enabling the acquisition of stakes in 3 exploratory blocks, through a competitive process conducted by Shell. The transaction is part of the scope of the Memorandum... Continue Reading →
Industry continues chasing big oil, key gas targets also on the radar (OE) Global exploration drilling is set for a boost in 2024 – we have line of sight on over 200 wells targeting over 30 bnboe of resource (unrisked). Several gas hotspots are on the industry agenda, whilst the strong appetite for oil exploration... Continue Reading →
Brazil Energy Insight 