Glencore provides Tullow financing, at a price
Dhir said the Glencore debt and Tullow’s cash, in addition to $800mn of free cash flow from 2023 to 2025, would “allow us to fully address all outstanding 2025 notes”.
Perenco deal at risk, Bowleven’s top shareholder warns
The problem is that the rate at which Bowleven is using cash will see it run out “most likely before summer 2024”.
Chevron lines up drill plans in Orange Basin
The block is to the north of Block 2913B, where TotalEnergies has made discoveries including Venus.
Middle East sets eyes on scaling up CCS
“Decarbonising production here is critical for those key demand centres of India and China,” KBR’s Blackburn said. The Middle East, given the region’s productive capacity, will be “the ones that lead the way, for sure”.
UKEF comes through with financing guarantee offshore Taiwan
A Mitsui official, Ryo Zushiden, said the Hai Long project was one of the company’s “most important investments in the renewable energy sector”.
Lloyd’s named as “climate wrecker” with insurers under pressure
By the end of September, the report said 20 of the 31 NZIA members had left the group.
Ørsted’s US fiasco highlights need for new offshore wind business model
If governments are serious about achieving decarbonisation targets, there needs to be an honest conversation about how to do so in an environment of perennial macroeconomic uncertainty.
NNPC, Aiteo launch new low-carbon crude
As such, the crude is a good fit for major buyers in Europe, NNPC said, and commands a premium to Brent. The crude has an API of 29 degrees.
Oil industry confident, but passive, in energy transition, report finds
“Wherever you find yourself on the energy transition continuum, there are ways to close the gap between aspiration and implementation”.
Dana Gas stays gas focused while navigating pipeline politics
Dana has said its gas fields in Kurdistan “could be the biggest gas fields in the whole of Iraq”.
BlackRock invests $550mn in Occidental carbon capture
“This joint venture demonstrates that direct air capture is becoming an investable technology, and BlackRock’s commitment in Stratos underscores its importance and potential for the world,” Chief Executive Officer Vicki Hollub said in the statement.
Sonatrach, OMV plan out Libya exploration return
OMV had held its licence under force majeure until September this year. It declared the contractual stoppage in 2014.
Prices slide for Aramco but upstream spending climbs
The Saudi company also noted the importance of gas. During the period, Aramco started up the Hawiyah gas plant expansion, increasing the facility’s capacity by 800 million cubic feet per day.
APPO sets timetable to launch African Energy Bank
“Without energy, there is no life. Today, we are doing everything we can to ensure that the African Energy Bank becomes a reality by June 30, 2024,” the Benin minister said.
BW Energy scores Gabon find, plans production in 2024
“We look forward to rapidly bringing these high-value barrels into production. The result also confirms the significant potential of the Dussafu licence where we have multiple additional future prospects.”
Rhino files for Orange Basin exploration plan
The company holds Block 2914B, next to Shell’s Block 2914A. Galp is to the north, at PEL 83, where it intends to begin drilling on the Mopane complex this month.
BP drops Yakaar-Teranga, Kosmos takes over
“In addition, the project is expected to deliver LNG export volumes to global markets, further establishing Senegal as an important and reliable supplier of energy to the world.”
NNPC talks up Dangote supplies, NUPRC considers refining obligations
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC), on November 1, said it was “determined to enforce the domestic crude oil supply obligations” for Nigerian refineries.
Murphy Oil approves Vietnam plan, launches Cote d’Ivoire work
In September, it sold non-operated stakes in the Kaybob Duvernay and Placid Montney for $104 million. The plan is to invest some of the proceeds in international works.
Petronas scores oil discovery offshore Suriname
Vice president of exploration Mohd Redhani Abdul Rahman said the success would “drive further exploration for commercially viable hydrocarbon resources in the surrounding areas”.
Lake Kivu winners under fire, while Congo pushes back bid closing
The two officials denied impropriety. Hamuli told BIJ the process had been “rigorous, transparent and credible … I didn't have to bribe the minister, the poor guy.”
Island Innovator arrives in EG for Trident, Kosmos drilling
As a result, the drilling company said the rig would be in Equatorial Guinea for around 230 days. Trident also has another two options it could exercise.
Zenith adds another arbitration case over Tunisia problems
Zenith is claiming at least $48 million under the ISCID case. It did not specify a value for the separate ICC proceedings.
Santos faces Barossa challenge as pipelay vessel waits
Santos has disagreed on the impact of the pipeline. It has an expert opinion stating that there are no specific underwater cultural sites on the proposed route.
Subsea 7 snatches Mero-4 from Saipem
“One of our competitors bid pushed the pricing up to a point where probably, our clients thought that they would look at the schedule and the timing and the constraints of that project.”