Dolphin scraps rig contract with Nigeria’s Peak
The Norwegian drilling company flagged problems in Nigeria during its third quarter results, filed on November 28.
Angola breaks with OPEC quota decision
Angola Minister of Mineral Resources, Oil and Gas Diamantino Pedro Azevedo said the decision on cuts had not been unanimous.
UAE launches $30bn funding platform for fairer finance
COP28 President Sultan Al Jaber will chair Altérra, while Ambassador Majid Al Suwaidi, COP28 director-general, will be CEO.
Prax to buy out Total from Natref refinery
“The acquisition marks another significant milestone for the Prax Group, and will create unique opportunities across the South African supply chain, meeting the needs of customers and communities for years to come.”
Oil’s wild ride is driven by a disruptive band of bot traders
While algorithmic CTAs add much-needed liquidity to the market, their trading strategies can amplify daily swings to an extreme. In 2022, when CTA trading volumes rapidly expanded, New York oil futures posted a more-than $2 daily move 242 times.
Capricorn cuts production hopes, ups receivables in Egypt
As of the end of October, outstanding receivables had reached $170mn, of which $139mn was overdue.
BP CEO search to drag on into new year
Reuters reported interim CEO Murray Auchincloss had privately indicated he would like to take the top job. Auchincloss was formerly BP CFO.
Europe needs more LNG to ease tight market, Uniper CEO says
“The ultimate goal is to get off gas and move to hydrogen,” Lewis said. He noted that Europe’s gas demand remains uncertain in the short term.
OCP calls first mover advantage in move to green ammonia
"This is what makes our position unique, we have the demand to make it work, so we can be one of the first movers.”
UK can do better at CCUS, event hears
No CO2 has been sequestered, no FID has been taken and no commercial scale projects are in operation. At the event, speakers set out their hopes for projects to reach FID by this time in 2024.
Equinor strikes sale on Nigerian asset with local buyer
“Chappal Energies is a committed Nigerian-owned energy company with the ambition to develop the assets further, contributing to the Nigerian economy for years to come.”
Gabon’s oil union threatens December strikes
“If nothing is done … ONEP will use all legal means, including a strike”, officials said.
Greenpeace blockades Shell terminal in the Philippines
"At COP 28, governments should make them stop drilling and start paying for the damage their operations cause.”
Saipem wins deepwater pipe work in Guyana, Brazil
The company said it would carry out work with its FDS2, Constellation and Castorone vessels. It will carry out work from its Port of Georgetown base.
TotalEnergies buys into UK-Morocco power export plan
“This innovative project will benefit from our track record in developing large and complex integrated energy projects.”
The case for COP28 and developing nations’ needs
It is time developing countries take a page from the Willie Sutton play book and look to the oil industry for funding their energy transition – that’s where the money is.
Tinubu backs Kyari at NNPC, despite turbulence
"On a domestic political level, however, the reappointment is savvy: Tinubu knew he needed to hand big jobs to northern officials, and it doesn’t get bigger than leadership of NNPC.”
UAE uses COP28 to push Adnoc, Masdar agenda
The briefing pack on the various countries often reiterated one point. “There is no conflict between sustainable development of any country’s natural resources and its commitment to climate change.”
Shell to face Ogale, Bille spill claims in High Court
For Shell or its local Shell Petroleum Development Co. (SPDC) to be held liable, “the court must be satisfied that there were no other significant causes which contributed to the claimants’ alleged losses such as spills by other operators or pollution as a result of illegal refining or sabotage”, the spokesperson said.
Cross-Med links could save Europe from Russia
The report called for an 18 GW link from Saudi Arabia to Sudan, a 15 GW link from Tunisia into Malta and then Italy and a 14 GW link from Algeria to Spain.
Nigeria threatens to revoke marginal fields, new round approved
“Marginal fields would [henceforth] be prioritised in terms of their location to those who have modular refineries, so that they will be able to produce,” he said.
PetroSA lines up sanctioned Gazprom unit for Mossel Bay
Under the tender, the winning bidder would invest around $200 million in the GTL plant and will also provide gas condensate supplies.
Disentangling Kurdistan’s exports challenge
Local sales are “negative for Kurdistan, in that there is no new investment in these circumstances. I don’t expect anyone to drill, to increase production beyond March 2023 rates [prior to the pipeline closure]."
Shell strikes find offshore Egypt with Stena Forth
It bolsters “our growth aspirations and ongoing commitment as a key partner in Egypt’s energy landscape. Successful delivery of our current exploration campaign is part of Shell Egypt’s growth strategy.”
CGG exits data acquisition with sale of ARGAS
CGG will continue to work in Saudi Arabia, she said, and with TAQA. The company will provide “high-end subsurface imaging and seismic acquisition systems”, Zurquiyah noted.