China, Japan and South Korea are set to receive cargoes of oil imports from Canada’s newly expanded Trans Mountain pipeline in September, becoming the first Asian countries to benefit from the facility since it became operational in May.…
(WO) – With details for Angola’s 2025 licensing round announced earlier this week, African exploration markets are making a push for upstream investment by deploying more attractive terms and offerings for global investors.
Angola’s upcoming bid round offers …
The Department for Energy Security and Net Zero has denied reports that Ed Miliband has banned the North Sea oil regulator from issuing any outstanding drilling and exploration licences, calling them “a complete fabrication”.
Earlier today, The Telegraph…
ERBIL, Iraq – Heading for Turkey to the north and Iran to the east, hundreds of oil tankers snake each day from near Kurdistan’s capital Erbil, clogging the Iraqi region’s often winding and mountainous highways.
The tankers are …
(Bloomberg) — Saudi Arabia raised $1 billion more than previously expected from the sale of a stake in oil producer Aramco after a so-called stabilization period of the company’s shares ended.
The government netted a total of $12.35 …
Shares in BP fell by as much as four percent this morning after it warned it was expected to post an impairment of up to $2bn (1.6bn) and was operating under “significantly” lower refining margins.
Publisher’s Note: ReconAfrica will be a presenter at EnerCom Denver-The Energy Investment Conference on August 18-21, 2024. Register to attend and book your room at the Westin Denver Downtown.
(WO) – Reconnaissance Energy Africa Ltd. and …
Venezuela’s president, Nicolas, Maduro, has accepted a U.S. proposal for a new round of talks on local policies and the future of U.S. oil sanctions on Caracas.
“I have received the proposal during two continuous months from the …
U.S. crude oil on Tuesday hovered at a two-month high as worries grow that Israel and the Iran-backed militia Hezbollah could go to war, and Hurricane Beryl could impact Gulf Coast refineries.
As oil has rallied in recent days, …
(Bloomberg) – Italian energy group Eni SpA is looking to raise more than €4 billion ($4.3 billion) from disposals in its global upstream business, people familiar with the matter said.
The sales would be part of a broader …
The court officer who oversees the auction of Venezuela’s PDV Holding, the parent company of refiner Citgo Petroleum, has asked a Delaware court to postpone the hearing on the winning bids by two months until September 19, to …
LONDON – BP’s new CEO Murray Auchincloss has imposed a hiring freeze and paused new offshore wind projects as he places a renewed emphasis on oil and gas amid investor discontent over its energy transition strategy, sources at …
Mexico has allowed Pemex to defer its June monthly tax payments to July 31 as the government continues to support its state oil giant that has been reeling under $100 billion in debts for years.
Petroleos Mexicanos, as …
GEORGETOWN/HOUSTON – Guyana’s lucrative agreement with an ExxonMobil-led consortium in the South American country last year generated $6.33 billion for the partners, government data showed, yielding a net margin larger than that of chip-maker Nvidia Corp.
The trio’s …
In a significant rebound, Russia’s oil and gas revenues for June are projected to increase by over 50% year-on-year, reaching $9.4 billion, according to new Reuters calculations. This surge comes after a reduction in refinery subsidies, highlighting Russia’s …
BRUSSELS -European Union countries adopted a 14th package of sanctions on Russia that aims to close some loopholes and hits Russia’s gas exports for the first time, EU foreign ministers said on Monday.
Western powers imposed sweeping sanctions
(Bloomberg) – There is no longer a single British bank financing the smaller independent oil and gas producers that account for the bulk of production and investment in the North Sea, according to Neptune Energy.
“The future of …
As the war rages on in Gaza and tensions escalate between Israel and Hezbollah in Lebanon, private equity fund Carlyle (NASDAQ:CG) is forming a new Mediterranean oil and gas company to be led by ex-BP CEO Tony Hayward …
(Bloomberg) – Eni SpA is planning to sell a stake in its Ivory Coast exploration operations in a potential deal that could be worth about €1 billion ($1.1 billion), according to people with knowledge of the matter.
The …
PARIS – The French government should buy a “golden share” in TotalEnergies to have a say in strategic company decisions, including aligning its activities with the Paris Climate Accord and vetoing any potential move to the U.S., a …
(WO) – Chevron, through its subsidiary Cabinda Gulf Oil Company Limited, has signed two Risk Service Contracts (RSC) for Block 49 and Block 50 offshore Angola, in the ultra-deep waters of the Lower Congo Basin.
These contracts, awarded …
(Bloomberg) – An Argentinian oil union said it will hold a 48-hour strike to demand higher salaries, potentially affecting production at the Vaca Muerta shale patch.
The boycott is set to begin at 8 a.m. local time Tuesday, …
Publisher’s Note: ReconAfrica will present at the EnerCom Denver—The Energy Investment Conference on August 18-21, 2024. Register to attend.
(WO) – Reconnaissance Energy Africa Ltd. announced an operations update relating to Petroleum Exploration Licence 73 (“PEL 73”), …
(WO) – Viridien, formerly CGG, announced that its Sensing & Monitoring business line, marketed under the Sercel brand, has made a sale of its innovative Marlin vessel monitoring and alert system to ExxonMobil Guyana Ltd. to support its …
HOUSTON/WILMINGTON – A U.S. court is weighing 12 initial bids from private investment funds and companies participating in an auction of shares of refiner Citgo Petroleum’s parent, a court officer said on Tuesday, a level of interest Citgo …
(WO) – Baker Hughes announced a significant order from Petrobras for workover and plug and abandonment (P&A) services in pre-salt and post-salt fields offshore Brazil.
The multi-year offshore project, set to start in the first half of 2025, …
(WO) – The latest analysis from Westwood Global Energy Group reveals that despite favourable oil prices in 2022, high impact exploration drilling in 2023 declined by 21%, due to energy transition strategies, industry consolidation, rising well costs and …
Saudi Arabia is set to raise more than $11.2 billion from its secondary public share offering in state-controlled oil giant Aramco, after the stock was priced at the lower end of its expected range.
The company on Friday said …
The oil and gas exploration prospects offshore South Korea have great potential and a future discovery is “highly prospective,” according to the founder of a petroleum exploration firm that advises the Asian country’s government on the drilling potential …
