Yinson steps up for Azule FPSO off Angola
Yinson Production has agreed to work on the Agogo FPSO for Azule Energy, in Angola’s Block 15/06.
Oil & Gas
Trafigura signs $3 billion German-backed loan for gas supply
Commodities trader Trafigura Group signed a $3 billion German government-backed loan for gas supply, as Berlin steps up efforts to secure natural resources following Russia’s invasion of Ukraine.
After violent kidnapping, CEO freed
A CEO kidnapped in Port Harcourt has been released, although no information has been provided on whether a ransom was paid.
BP to move to new London HQ in 2024, according to reports
BP (LON: BP) is to up sticks and move its London headquarters to a new location in the city, according to reports.
Maurel makes all-cash offer to acquire Wentworth
Maurel et Prom has made an offer to acquire Wentworth Resources, its partner at a Tanzanian gas project.
Updated: Serica shares fall on underwhelming North Eigg news
Shares in North Sea operator Serica Energy (LON: SQZ) fell on Monday after a key exploration well proved underwhelming.
OPEC+ pauses as Russia sanctions and China covid rules roil crude markets
OPEC+ responded to surging volatility and growing market uncertainty by keeping oil production unchanged.
Germany lost to Japan…but still put its foot on the gas in Qatar
Since I’m on my way to Doha as I write, what better subject than LNG and the boom which will keep the dollars flowing into Qatar for decades to come.
‘We want boredom in 2023’ says oil and gas industry
"Looking ahead to 2023, it's pretty clear that what we are looking for is boredom”, says Addleshaw Goddard partner and co-head of oil and gas, Paul Jones, after the turbulence of the past 12 months.
UK well slot: Shell gets ready to Rockhopper
As of 25 November, Westwood Global Energy reports that there are three exploration wells active, with one in the CNS, one in the NNS and one in the SNS. One appraisal well is currently active in the CNS. Since the previous report, one well has completed at Rockhopper.
Norway well slot: Drilling hits for Equinor, OMV and Neptune
As of 25 November, Westwood Global Energy reports that there are three exploration wells active, with two in the Norwegian Sea and one in the Barents Sea. Since the previous report, one exploration well program has completed at Oswig, and one exploration well has spudded at Countach.
Europe’s New Sanctions on Russian Oil Kick In: What Changes?
After months of planning and negotiations, the biggest tranche of sanctions on Russian oil to date take effect on Monday. How big their impact will be remains uncertain.
North-east subsea firm Rovop in ‘healthy position’ as it narrows losses
Subsea robotics firm Rovop is readying for an “extremely positive” future after delivering a solid set of 2021/22 financials.
East Timor’s NOC calls Woodside ‘corporate bully’ in latest Sunrise LNG spat
East Timor’s national oil company (NOC) TimorGAP has branded Woodside Energy (ASX:WDS) a “corporate bully” after the Australian LNG developer refused to agree to a production-sharing contract (PSC) that would commit gas from Greater Sunrise to be processed onshore East Timor.
EU agrees to set $60 price cap level for Russian oil exports
The European Union agreed to put a price cap on Russian oil at $60 a barrel, paving the way for a wider Group of Seven deal.
STATS tackles ‘world first’ subsea pipeline intervention in Middle East
STATS Group has been commissioned to provide pipeline isolation, hot tapping and plugging services to the world’s largest diameter subsea pipeline intervention project in the Middle East.
Italy mulls support for fossil fuels despite climate promise
The Italian government is considering financing for international fossil fuel projects that would generate emissions 3.5 times greater than Italy’s, Oil Change International warns.
Avalon: Ping Petroleum pushes back investment decision on North Sea oilfield
Ping Petroleum has moved back its timeline for a final investment decision (FID) on the Avalon oilfield in the North Sea.
Shell allowed to appeal $1.8bn Nigerian court order
Nigeria’s Supreme Court said a Shell subsidiary can appeal a judgment directing the company to pay compensation over alleged pollution in a legal dispute that is holding up the oil giant’s efforts to sell assets in the West African country.
‘Extreme’ flaring seen for miles from Ineos Grangemouth as firm deals with ‘process upset’
Ineos has apologised to Central Belt residents after a ‘process upset’ led to hours of flaring at Grangemouth on Thursday evening.
BP told it must offload Rosneft stake or ‘risk complicity with Russia’s war crimes’
A senior figure in the Ukrainian Government has urged BP (LON: BP) to severe its relationship with Rosneft (MM: ROSN), or “risk complicity with Russia’s war crimes”.
Sasol faces tough questions on transition at AGM
Sasol will hold its AGM today and will face some tough questions on its environmental stance from various NGOs.
Sonangol lines up additional Suezmax for 2023 delivery
Sonangol has begun building a second oil tanker, following an oil cutting ceremony in South Korea on November 28.
Russia to defend revenues in face of price cap
With just days remaining until the European Union imposes a price cap on Russian oil, much uncertainty remains.
‘Diminishing hopper’ of big North Sea projects a leash on firms’ ability to offset tax hike
Westminster’s hopes of spurring North Sea spend in the coming years could be derailed by one fundamental issue: a lack of available projects.