Plans took a long time to progress because of a difference of opinions over terms and shareholding. Iraq had pushed for a higher stake in the project. Initially, its interest was to be held by the Iraq National Oil Co. (INOC), this was abolished in September 2022.
The former employees’ lawyer, Frederik Brocks, called the firings a “regrettable step” and “unfair,” in comments to Berlingske newspaper. Brocks declined to comment further.
An official with the Filipino maritime regulator said last month that the Princess Empress did not have the right permits for operation.
The facility will be the largest liquefaction unit in the world using a single electric motor-driven mixed refrigerant compressor.
The war in Ukraine has reshaped the world’s fuel markets, with the global industry seeing historic gains from the fallout. Aramco has become the latest in a long list announcing record profits in 2023. But how long will this last?
The service company noted the importance of tackling carbon emissions. It said it would help develop “one of the lowest carbon emitting” FPSOs in the world.
Five people were injured after an explosion at a refinery run by Indonesian state oil company Pertamina, the company’s third incident in recent weeks.
The BW Adolo FPSO will process oil from this development phase alongside the Tortue production. Tankers will offload oil from the FPSO for export.
Seatrium is a combination of “sea” and “atrium”. The company had generated more than 1,000 names and whittled it down through a legal and linguistic screening.
QE struck a deal with ExxonMobil Canada on March 29 to access to more exploration, with drilling imminent.
The energy transition is disrupting the traditional business model of oil and gas players, and many are now responding by decarbonising and diversifying their portfolios and investing in renewable power.
“Indigenous supply gives the opportunity for the lowest carbon footprint. We are operating in one of the highest regulated environments in the world,” the CEO said. Rhein trucks the oil to a local refinery, which Bottomley described as the “best possible” way in which to lower carbon.
At the same time that Savannah was announcing the cancellation of its deal to buy the Petronas assets in Chad, it set out an even more ambitious plan with the Malaysian company.
In August 2021, it managed to reach a deal where it would help loan money to Whitmore Asset Management, linked to its CEO Tinubu, to pay out $550mn to Gabriele Volpi’s Ansbury Investments. Oando borrowed the cash from Afreximbank and advanced this to Whitmore.
As the gas market grew, Africa Energies said the development of the Paddavissie Fairway would expand. The company believes there is more to be found in the region, based on 2D and 3D seismic.
“It is unfortunate it has come to this given the likely impact of a continuing supply disruption on oil prices and at a fragile time in global financial markets,” said DNO executive chairman Bijan Mossavar-Rahmani.
NNPC is also carrying out exploration in the Chad Basin, Dahomey Basin, Anambra, Calabar Embankment, Sokoto Basin, Bida Basin and the ultra-deepwater of the Niger Delta.
Talk these days about energy trends nowadays tends to focus on the crisis that has caught Europe and the West by storm. We overlook Southeast Asia at our peril.
Comalie seems to have asked Mulunga to discipline Willemse, who was involved in the plan to tap the fuel, stored at Walvis Bay. “He may have thought this was a loan, but it is really theft”, Comalie told Mulunga, according to New Era.
BP said the offer was in line with its "stated strategy and financial frame including current guidance for capital expenditure".
Cheiron said the find demonstrated the Gulf of Suez’s remaining exploration potential, despite being relatively mature. The GNN field was the first discovery in the Nukhul formation, it said.
A Brookfield consortium and EIG’s MidOcean Energy have agreed a deal to buy Origin Energy, which has power market and LNG interests in Australia.
Iraq’s Ministry of Oil has said it would discuss how to export “Iraqi oil through the Turkish port of Ceyhan” with the authorities in Kurdistan and Turkey.
In terms of the economic opportunity, many of our skills developed around oil and gas over decades can be applied to offshore wind in areas such as surveying, installation, operations and maintenance and health and safety.
The move by Chad came despite the fact that Savannah had reversed production decline, the company said. Production reached 29,349 barrels per day since December 9, it said, up by 9%.
