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,’ […]
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 […]
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 […]
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 […]
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 […]
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 […]
Shell Brasil Petróleo Ltd said it has started production at the Lula North deep-water project in the Brazilian Santos Basin along with some of its partners. Production at Lula North is processed by the P-67 floating production and storage offloading vessel (FPSO) and is operated by Petrobras. The production hub […]
Total said it has discovered a new exploration site in the North Sea offshore U.K., on the Glengorm prospect located in the Central Graben. The well was drilled to a final depth of 5,056 meters and encountered 37 meters net gas and condensate pay in a high quality Upper Jurassic […]
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 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 […]