Eni, TotalEnergies, Oxy commit to $4bn Berkine Basin spend
Eni, TotalEnergies, Occidental Petroleum and Sonatrach have signed a production-sharing contract (PSC) extending control over two blocks in Algeria’s Berkine Basin.
Occidental Petroleum
Adnoc stacks three discoveries with 650 million barrels
Adnoc has made a new 500 million barrel discovery at Bu Hasa, offering an expansion of Murban crude production.
Oil prices at $100 a barrel? What else is on the horizon for the energy sector in 2022
In this latest in our series on ESG investing, Mike Scott assesses the global energy outlook ahead for 2022. Although oil and gas prices are healthy, energy firms will need to stay focused on net zero and emissions targets, and keep an eye on growth areas like hydrogen and other renewable energy sources.
Rewiring the energy system
“If we are to successfully transition to the energy system of tomorrow, we cannot simply unplug from the energy system of today,” Adnoc CEO Dr Sultan Al Jaber warned the ADIPEC conference in Abu Dhabi this month.
Oil firms spend $192million on Biden’s first – perhaps last – Gulf of Mexico auction
Oil companies spent $191.7 million buying drilling rights in the Gulf of Mexico on Wednesday, during a robust government auction that underscored the industry’s appetite for new crude as the White House seeks to shifts the US away from fossil fuels.
Tullow pre-empts Kosmos deal off Ghana
Tullow Oil has pre-empted the sale of Occidental Petroleum’s stake in the Jubilee and TEN fields to Kosmos Energy, in Ghana.
Opportunities for new operators in West Africa
As majors shift out of mature West African assets, new opportunities may attract large independents to enter the area.
Kosmos makes Oxy move in Ghana
Kosmos Energy and Ghana National Petroleum Corp. (GNPC) have bought out Occidental Petroleum’s stake in the Jubilee and TEN fields.
Saipem wins $510mn sour gas work in UAE
Saipem has won a $510 million contract from Adnoc for work to expand the existing Shah gas plant.
SEC gets tough with Conoco, Occidental on climate, report says
The U.S. Securities and Exchange Commission has told ConocoPhillips and Occidental Petroleum to hold shareholder votes on new emissions targets, Financial Times reported, citing a letter the SEC sent to ConocoPhillips that the publication has seen.
Oxy makes Abu Dhabi find
Occidental Petroleum has made another discovery in Abu Dhabi’s Block 3, the company revealed during a quarterly results conference call.
Algeria combines energy, mining ministries
Algerian President Abdelmadjid Tebboune has carried out a reshuffle, appointing a new energy minister.
Oxy delivers world-first carbon neutral crude to India
Occidental Petroleum has delivered a first shipment of carbon-neutral oil to Reliance Industries, in India.
Oxy wins Abu Dhabi onshore block
Occidental Petroleum has won the exploration rights to Abu Dhabi Onshore Block 5, Adnoc has reported.
Occidental is first U.S. oil major to target net zero emissions
Occidental Petroleum Corp. became the first major U.S. oil producer to aim for net zero emissions from everything it extracts and sells, accelerating an industry trend that’s become commonplace in Europe.
US oil production has already passed its peak, Occidental says
America’s oil production will never again reach the record 13 million barrels a day set earlier this year, just before the pandemic devastated global demand, according to Occidental Petroleum Corp.
Oxy to keep Algeria, despite debt problems
Occidental Petroleum intends to keep production flat in 2021 but one bright spot for the company is Algeria.
Occidental posts $6.6billion charge after oil price crash
Occidental Petroleum Corp. reported a $6.6 billion writedown in the second quarter, equivalent to more than 40% of its market value, as the collapse in energy prices took its toll on the debt-laden U.S. shale oil producer.
Oxy eyes Middle East sales to tackle debt
Occidental Petroleum is reviewing options for its Middle Eastern assets as it seeks ways to reduce its debt pile, people familiar with the matter said.
Total ditches Ghana purchase
Total has scrapped plans to buy assets that had belonged to Anadarko Petroleum in Ghana.
Oxy scraps Algerian sale to Total
Occidental Petroleum will continue to hold its Algerian assets following its inability to conclude the sale of them to Total.
Occidental Petroleum takes $1.4 billion writedown, cuts budget on oil rout
Occidental Petroleum Corp. took a $1.4 billion writedown related to an investment in a pipeline affiliate, cut capital spending and withdrew its guidance for the year after a historic collapse in oil prices.
Occidental slashes payout for first time in 30 years
Occidental Petroleum Corp. cut its dividend for the first time in 30 years as the oil producer opts to conserve cash to cover debt incurred in its $37 billion takeover of Anadarko Petroleum Corp. last year.
Exclusive: Cnooc MD Riddoch quits firm
China National Offshore Oil Corporation (Cnooc) International’s UK managing director and senior vice president for Europe and Africa, Ray Riddoch OBE has quit the firm.
More new oil and gas inventory coming from mergers, not exploration
Increasingly more recoverable barrels of oil and gas around the world are coming from corporate mergers and acquisitions, and not from traditional exploration.