Pharos faces squeeze as Egyptian pound tumbles
The company warned that it would keep watch on its receivables. This, it said, may “impact the capital available for development”.
The company warned that it would keep watch on its receivables. This, it said, may “impact the capital available for development”.
With Qatar at the centre of a “sellers’ market” for LNG, what can the East Mediterranean offer European governments to ease the pressure?
“It’s practical to hit 2.2mn bpd in 2023, this is practical. It’s a moving target,” Kyari said. “There are a number of projects that I have clear line of sight that can come on board in 2023.”
“Right now, we have close to 64 wells that need to be redrilled, and for this, we cannot find funds. A lot of infrastructure has been designed for a specific period and without funds, we are left with a lot of problems.”
The French company operates 11 fields on- and offshore Congo, producing 25,000 bpd in 2021.
The company signed a term sheet to buy LNG from Oman LNG for 10 years. The Omani project will provide Shell with 0.8 million tonnes per year, it said.
ExxonMobil has won two blocks offshore Egypt, in the Nile Delta, covering more than 11,000 square km.
It also noted that there was scope to develop hydrogen resources within the venture. There was discussion in December, during talks between Algeria and Germany, about the possibility of transporting green hydrogen via Italian links.
Gas, he said, would be “a critical fuel in the energy transition and Adnoc Gas, through its world-scale operations and significant growth and expansion plans, will be well-positioned to meet both local and international gas demand”.
“We regret that we could not complete the merger as envisaged in July 2022, as that would have created the by far largest publicly listed tanker company,” said Frontline CEO Lars Barstad.
Shelf Drilling has secured a one-year contract extension for the Trident 16 jack-up rig.
“We look forward to commencing Apex’s first gas production in 2023 and becoming part of the exciting Egyptian natural gas success story,” he continued.
Smith noted the opposition from shareholders to the Tullow merger. “The message from shareholders was that there was a preference for cash returns over long-term delivery. We listened to that and [the NewMed deal] offers a lot of cashback, while also being energy transition led.”
The Blackford Dolphin arrived in Las Palmas on November 24, 2022, following a delayed departure from Mexico and reduced transit speed.
The project is QE’s “largest investment ever in Qatar’s petrochemicals sector and the first direct investment in 12 years”, Al-Kaabi said.
Outgoing Eskom CEO Andre de Ruyter has survived an alleged attempt on his life, involving a cup of coffee – and cyanide.
The AG said this failure would have a “disastrous effect of capital flight and commercial fraud”.
JGC will oversee work on the FLNG topsides, onshore facilities and management of the overall project. SHI will handle hull work and modular fabrication of the topside.
These investors put $18.7 billion into renewables in 2022 and only $6.7bn into hydrocarbons.
Technip Energies has won a project management consultancy (PMC) contract from Kuwait Oil Co. (KOC).
Shelf Drilling has extended the contract on its Shelf Drilling Tenacious jack-up, offshore Angola.
The company aims to capture 5 million tonnes per year of CO2 by 2030, it has said. Adnoc’s Al Reyadah facility captures 800,000 tpy currently. The next major investment will come at the Habshan gas processing facility, using local geology.
Capricorn Energy has conceded that it expects to hold an EGM on February 1 but has warned shareholders against rejecting its proposed combination with NewMed Energy.
Fenikso, previously known as Lekoil, has settled its disputes with its former CEO, with half its board also stepping down.
Germany has reduced its imports of Russian energy to zero and imported its first full cargo of LNG to Uniper’s new terminal at Wilhelmshaven.