Kistos (KIST.L) has paid its outstanding bond debt in the Netherlands, creating an opportunity for the firm to return more cash to shareholders, said an industry analyst.
With many of the best production sites already tapped, companies flush with cash from the post-pandemic run-up in oil prices are increasingly buying rivals to secure new places to drill.
“We farmed out an interest to Afren and so we are delighted with what is a most positive and significant development and we look forward to working with our partner Octant in realising Tanga’s significant potential.”
A group of pensioners have issued legal letters to BP pension trustees and management over its decision not to grant requests for additional disbursements earlier this year.
The European Marine Energy Centre (EMEC) backed offshore wind research and innovation (R&I) programme is set to launch an innovation call to help deliver projects.
Forrest said hydrocarbon executives at COP28 talking up production “must think you have blood on your hands”. The Fortescue head was talking on Perth’s 6PR station.
Waste-to-energy operator Enfinium said the carbon removal project will remove the equivalent of the carbon emissions of "every household in Manchester out of the atmosphere"
Perenco UK has announced a near-field discovery at the Ravenspurn South field, located approximately 40 miles off the coast of Flambrough Head in Yorkshire.
International Energy Agency warns that even if the pledges made so far at COP28 summit are delivered, they will "not be nearly enough" to avert 1.5C warming
"The market is shifting. The contractor side is gaining bargaining power, the clients in my world are stepping back and negotiating with contractors who are just saying no. A line has been crossed.”
A new survey of the UK's offshore wind supply chain finds a decline in confidence since last year, as inflation and a disappointing CfD round dent expectations.
Fresh from securing a farm-out deal, Orcadian Energy boss Steve Brown points to the strategic advantages of a new floating development at Pilot in the central North Sea.
Trafigura’s effective tax rate dropped to just 8%, from 12% a year earlier, which Salmon said reflected “a one-off benefit from the recognition of historic tax losses and higher earnings in lower taxation jurisdictions.”
“We are very focused on resolving all investment-related issues. There is no bottleneck that is too difficult for us to remove”, the president said. “We need each other … we want you to do more.”
“Malaysia holds a prominent position within our strategic investment areas and proves successful oil and gas discoveries in offshore areas continuously,” said PTTEP CEO Montri Rawanchaikul.
A worrying aspect of the global energy transition now gathering pace is how impoverished countries with large oil and gas discoveries react to wealthy nation rhetoric telling them that they should kiss the chance of making $billions goodbye before they’ve even started harvesting the resource.