Energy

BRIEF: Nigeria takes over OML 11 from Shell
Energy

BRIEF: Nigeria takes over OML 11 from Shell

Nigeria’s national oil company, the Nigerian National Petroleum Corporation, NNPC, has been directed to take over the operation of oil mining lease, OML 11. In a memo posted on Twitter and sighted by our energy correspondent, the presidency of Nigeria has directed the takeover due to ‘delicate tension in Ogoniland,’ […]

License renewals cut Seplat profit by 45%
Energy Global

License renewals cut Seplat profit by 45%

London and Nigeria-listed indigenous oil and gas company, Seplat Petroleum Development Company Plc, said its net profit for the year 2018 fell by 45%. In its latest financial disclosure, Seplat said it recorded a net profit of $147 million for the full year 2018 compared to $265 million it recorded […]

S&P downgrades Pemex
Energy

S&P downgrades Pemex

Global ratings agency Standard & Poor’s (S&P) said it has slashed the credit rating for Mexico’s national oil company Petroleos Mexicanos, or Pemex, piling more pressure on the government to tighten up the debt-laden oil firm’s finances. S&P followed the Pemex cut with lower credit outlooks for a range of […]

ADNOC, KKR, BlackRock signs multi-billion dollar pipeline deal
Energy

ADNOC, KKR, BlackRock signs multi-billion dollar pipeline deal

The Abu Dhabi National Oil Company (ADNOC) announced that it has entered into a landmark multibillion-dollar midstream pipeline infrastructure partnership with KKR and BlackRock, two of the world’s leading institutional investors. As part of the transaction, a newly formed entity called ADNOC Oil Pipelines – Sole Proprietorship LLC (henceforth referred […]

Shell acquires 100% stake in sonnen
Energy Global

Shell acquires 100% stake in sonnen

Royal Dutch Shell said it has agreed to acquire 100% of sonnen. Sonnen is a major maker of smart energy storage systems and innovative energy services for households. Shell said in a statement that the acquisition follows an investment by Shell in May 2018 and means that post regulatory approval […]

Shell starts production in Brazil deep water project
Energy

Shell starts production in Brazil deep water project

Royal Dutch Shell plc, through its subsidiary Shell Brasil Petróleo Ltd, today announces with consortium partners the start of production at the Lula North deep-water project in the Brazilian Santos Basin. Production at Lula North is processed by the P-67 floating production and storage offloading vessel (FPSO) and is operated […]

BP invests $5 million in AI startup, Belmont Technology
Energy

BP invests $5 million in AI startup, Belmont Technology

British energy giant, BP said it has invested about $5 million in an artificial intelligence startup, Belmont Technology. Belmont Technology core strength is not just AI but also, digital capabilities for the Upstream business. The company said in a statement that investment supports its ongoing work exploring opportunities to apply […]

Eni, Coldiretti enters biogas agreement
Energy

Eni, Coldiretti enters biogas agreement

Eni and Coldiretti have both signed an agreement with the aim of developing an advanced Italian supply chain of biomethane produced from waste for use within the transport sector, leveraging the waste and byproducts that are produced from agriculture and livestock. The memorandum of understanding was signed in Lodi at […]