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(OE) Italian oil firm Eni on Monday announced "a major upgrade" of the resource base in the Ndungu field, located some 130 km off the coast of Angola, and about 10 km from the Ngoma FPSO in the West Hub of block 15/06. Eni said it had drilled the Ndungu 2 appraisal well drilled 5... Continue Reading →
(Reuters) - Denmark's Orsted (ORSTED.CO) said on Monday it had agreed to sell half of the Hornsea 2 project in Britain, which will become the world's biggest offshore wind farm, to a French consortium for 3 billion pounds ($3.94 billion). The deal is consistent with the Danish energy giant's strategy of selling off large stakes in operational... Continue Reading →
(Reuters) - China Petroleum & Chemical Corp (600028.SS), better known as Sinopec, is planning its highest capital investment in history for 2022 after recording its best profit in a decade, echoing Beijing's call for energy companies to raise production. Sinopec expects to spend 198 billion yuan ($31.10 billion) in 2022, up 18% from a year ago,... Continue Reading →
PGS has added a further 2,000 square kilometers of KPSDM processed MultiClient 3D GeoStreamer data for the Tano Basin offshore Ghana. The survey targets an area that has seen recent high-profile exploration success, with ENI’s Baliene-1X discovery in August 2021, and Springfield’s Afina-1X discovery in November 2019, PGS said. The Upper Cretaceous play is the... Continue Reading →
Malaysian state-owned energy giant Petronas has denied reports, speculating on it buying a significant stake in compatriot oil and gas services company, Sapura Energy. In a statement last Friday, Petronas referred to news reports, comments in the media, and recent speculation on purported “talks with the Government on a proposal to take a significant stake” in Sapura... Continue Reading →
(OE) Mexican authorities have decided that Mexico's national oil company Pemex would become the operator of the giant Zama offshore field development, despite the fact that the discovery was made by the U.S. oil company Talos Energy back in 2017. Talos Energy said Monday it had received the final Unitization Resolution ("UR") from Mexico's Ministry of... Continue Reading →
(Reuters) - Spain's Enagas (ENAG.MC) and Canadian pension fund Omers agreed to sell their holdings in Chile's GNL Quintero, which represent an 80% stake, to Belgian gas utility Fluxys (FLUX.BR) and investment fund EIG, Enagas said on Monday. The Spanish gas pipeline operator which owns 45.4% in GNL Quintero, said it sold its stake for $661 million and said... Continue Reading →
(PN) The National Petroleum Agency (ANP) extended the first exploratory period in five blocks of the oil company in the Sergipe-Alagoas and Santos basins. The extra period was given within the context of ANP resolution 815/2020, which allows for the extension of certain contractual terms for the Exploration Phase for a period of nine months.... Continue Reading →
(Reuters) - Commodities traders such as Trafigura and Vitol have helped keep Russia's oil flowing through its Baltic and Black Sea ports in March, when some Western firms started to snub the market, according to ship tracking, traders and shipping sources. Both Swiss-based trading houses have long-term deals with state-run Russian oil giant Rosneft to... Continue Reading →
(Reuters) The Swiss trading arm of Russian energy giant Lukoil (LKOH.MM) has scaled back operations after the oil company cut its supply of capital to guarantee nearly $1 billion in margin calls in the wake of Western sanctions, according to three people familiar with the matter. Litasco, which was handling more than 3.6 million barrels per day,... Continue Reading →
Brazil Energy Insight 