Equinor targets US, UK and Brazil for cash flow growth
“But most of the cash flow increase is coming from improvements in the quality of the portfolio. We're shifting from mature legacy assets to next generation assets.”
Angola
Angola’s OPEC exit: a small nation’s big statement
Angola's bold move could be the harbinger of a more dynamic global order, where size does not dictate influence or relevance.
ANPG dishes out onshore licences, Afentra and Serinus picked
Afentra CEO Paul McDade said the company was committed to working in Angola. The next step involves negotiating licences with ANPG.
Deals in Africa: 10 things to watch in 2024
M&A remains an important means for oil and gas companies to access new reserves and opportunities, despite the challenges.
Ocean Installer, Oceaneering begin TotalEnergies work
Ocean Installer CEO Kevin Murphy said the Girassol work was "our most significant project award from TotalEnergies to-date".
OPEC nations affirm commitment after Angola exits
OPEC nations Iraq, Nigeria and the Republic of Congo affirmed their commitment to the oil-producer group following the exit of Angola last week.
Azule signs up three more deepwater licences
“Blocks 46 and 47 have never been explored before and represent a new frontier exploration area that can be a game changer for our company and the country’s energy industry."
Switzerland charges Trafigura for historic bribery
“For the first time, the Federal Criminal Court is called upon to judge the criminal liability of a company for bribery of foreign public officials,” the OAG said.
Masdar stacks up deals on 20 GW of clean energy
Masdar head Al Ramahi said the Kyrgyzstan agreement marked a “new chapter for Masdar in our clean energy journey … we are glad to have the opportunity to bring the energy, passion and focus to hydropower that we have utilised for so many other renewable energy sources”.
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.
Angola says it plans to remain in OPEC as quota spat emerges
Angola, Africa’s second biggest crude producer, has no plans to leave OPEC+, an official said, following a broader dispute over output quotas that delayed the group’s meeting.
Exxon, Chevron dust off West Africa plans
Equatorial Guinea Vice President Teodoro Nguema Obiang Mangue said state-backed Gepetrol was on the way to increasing its operational capacity.
Yinson sets out CCS plans for Azule FPSO
These steps would “significantly reduce” the FPSO’s overall carbon emissions and improve operational efficiency, it said.
TotalEnergies sells down Angola stake to Petronas
TotalEnergies has agreed the sale of a 40% stake in Block 20, in Angola's Kwanza Basin, to Petronas.
Total hints at further Namibia successes
Total has two rigs working in Namibia, with the Tungsten Explorer and the Deepsea Mira. A recent update from Vantage Drilling reported Total had extended the contract on the Tungsten Explorer into the second quarter of 2024.
Afentra’s McDade praises Angola’s oil industry embrace
“We’re confident we can complete by year end. We’ve been through it with the INA deal and hopefully we can be more efficient this time around,” he said.
KCA Deutag wins $60mn Exxon extension in Angola
"We look forward to continuing a successful partnership with our customer as we work together to safeguard a sustainable energy supply,” Maier said.
Sonangol returns to Kwanza onshore after 27 years
“This proves that we are indeed committed to getting the oil sector working, at all levels,” said Jerónimo.
Azule, Equinor sign PSA for Angola area
Under the agreement, the companies will drill one exploration well in the initial five-year exploration period.
TechnipFMC wins more Girassol work from TotalEnergies
“We have good knowledge of this field, having built the subsea tree systems for the original Girassol development. It gives us immense pride that our long-term clients continue to show trust and confidence in our solutions through subsequent awards.”
Mulunga’s Angola payment not criminal, review finds
Namcor was on the hook for $10 million. However, when the time came to pay up, it became apparent that Sequa had no funds and Petrolog only $6mn.
Afentra tweaks Sonangol deal, signs Azule purchase
“We’ve been reassured that approval for both transactions will be relatively efficient, they should be done before the end of the year”.
Angola makes its pitch: “Flexibility is our middle name”
Angola’s regulator is focused on attracting investment into the upstream, putting a particular focus on new investment from medium and small companies, according to a recent presentation.
Can Africa’s OPEC producers seize their opportunity?
“They are in general pumping what they can. They are reluctant to switch off production as they may not be able to turn it back on down the line,” the Welligence official said.
Angola cuts fuel subsidy, following Nigeria in boosting pump prices
Angola reduced its gasoline subsidy, almost doubling pump prices in a nation that has some of the world’s cheapest fuel.