Oil prices flirted with the $40 per barrel mark on Tuesday amid speculation that quotas for international production cuts could be kept higher for longer.
Oil & Gas
Angola is in talks with some of its oil customers in a bid to restructure financing facilities, the Ministry of Finance has said, in order to “better reflect the current market environment and OPEC production quotas”.
BP Southern Africa has appointed Taelo Mojapelo as its new CEO, replacing Priscillah Mabelane who is joining Sasol as executive vice president of its energy business.
A number of North Sea-focused industry groups have announced they will collaborate on a survey designed to assess the pace of digitalisation growth across the sector.
Flotel owner Prosafe has received some financial relief as it works to stay afloat amid the latest downturn.
The UK Government has approved Ineos' decommissioning programme for its Cavendish platform.
Mozambique’s military forces have regained control of Macomia, a town in the northern Cabo Delgado Province around 200 km from the LNG construction site.
Oil rose as investors eyed a potential extension of record production curbs by OPEC+ while physical markets continued to show signs of tightness.
Seadrill fell to a £1.2billion pre-tax loss at the start of the year off the back of heavy impairments for its rigs which are dropping in value.
The chief financial officer of Aker Solutions has announced plans to leave the company less than a year his appointment and without a replacement being found.
The UK was the only country to give energy giant BP a tax rebate in 2019, a new document shows.
Qatar Petroleum (QP) has signed the largest shipbuilding contract in history to shore up its LNG growth plans, this is said to account for around 60% of global LNG shipbuilding capacity until the late 2020s.
For the previous few centuries, humans have been burning through fossil fuel reserves with somewhat reckless abandon. Yet in the 2020s, and based on extensive peer-reviewed research, we make five big and bold predictions linked to the future of energy systems and the social infrastructures that need them. The full report call be accessed via Reuters Events Energy Transition News and Content Hub, via the Energy Transition Report & Whitepapers section.
There is no doubt the double hit of Covid-19 and the continuing low oil price has left our industry in crisis – or that collectively we have never had a greater opportunity for meaningful change.
Abu Dhabi’s state-owned energy producer is close to selling a multibillion-dollar stake in its natural gas pipelines to an investor group backed by Global Infrastructure Partners and Brookfield Asset Management Inc., in what is set to be one of the year’s biggest infrastructure deals.
Nigeria has officially launched a marginal field bid round, with the Department of Petroleum Resources (DPR) saying 57 fields are available.
An armed militia in Libya has prevented maintenance work from being carried out on the Sharara field.
Neptune Energy has appointed Mehdi Bouguetaia to act as managing director in Algeria.
Sonatrach has increased its stake in the Medgaz pipeline to 51%, following the completion of a deal with Spain’s Cepsa.
The Oil and Gas Authority (OGA) has slammed “poor behaviour” in the North Sea supply chain, with firms facing demands to cut rates as much as 40% “overnight”.
The UK Government’s furlough scheme is unlikely to “stem the tide” of oil industry job losses as employers are told to start contributing to wages in the coming months, lawyers and politicians said.
Entrepreneur Martin Gilbert has been appointed chairman of the Oil and Gas Technology Centre (OGTC) at a “pivotal time” for the energy industry.
The Covid-inflicted oil price crash has left oil and gas companies facing two distinct choices, a new report said.
There is “hope” for a return of subsea project activity in UK waters next year and in 2022, a market analyst has said.
Our client Humber Oil & Gas’ divestment of its interest in one of the largest UK onshore hydrocarbon discoveries may have been our second oil and gas deal of 2020, but it was the first we conducted wholly remotely, thanks to UK lockdown rules.