India courts ExxonMobil with upstream offer
The Indian government is trying to persuade ExxonMobil to take stakes in offshore acreage controlled by state-backed Oil & Natural Gas Corporation (ONGC).
Gas
Japanese upstream players accelerate exit plans
Japanese companies are increasingly focused on upstream portfolio rationalisation, with divestment of non-operated stakes in smaller oil, as well as other non-core assets, expected to accelerate, research from Wood Mackenzie shows.
Chinese energy firms set to benefit from Myanmar turmoil
There is a high risk that political turmoil in Myanmar will negatively affect the energy sector, however, Chinese companies look set to benefit from the tumultuous environment, according to Fitch Solutions Country Risk & Industry Research.
Independent Oil and Gas hires former Ithaca, Marathon man as COO
Independent Oil and Gas (IOG) has hired an experienced North Sea project manager and military man as its new chief operating officer (COO).
CNOOC’s capital spend set at $15bn, highest since 2014
CNOOC, China’s third-biggest oil company, aims to raise its capital spending this year to between 90 billion and 100 billion yuan ($15 billion), the highest level since 2014, bucking the industry trend.
Petronas workers stranded offshore after Myanmar coup
Malaysian national oil company (NOC) Petronas said that it is making every effort to ensure the safety of about 155 workers that are sub-contracted on a barge servicing its Yetagun platform in the Andaman Sea off Myanmar following the military coup.
Asia Pacific offers plenty of subsea opportunities
The Asia Pacific region offers plenty of opportunities for the UK’s subsea engineering sector, both in the traditional oil and gas business, as well as the rapidly expanding renewable energy industry, reckons Subsea UK.
Upstream players eye force majeure in Myanmar
The bloodless military coup in Myanmar has triggered some upstream companies to assess whether they should activate force majeure clauses in their production-sharing contracts (PSCs) with the government.
Logistical risks rise for E&P players in Myanmar after coup
The atmosphere in Myanmar remains volatile after the military seized power from the National League for Democracy (NLD) government and is creating logistical challenges for upstream companies, including Woodside Energy, that operate in the country.
Myanmar faces energy crunch after military coup, needs more LNG
Myanmar faces a potential energy crunch following a bloodless military coup that is set to delay urgent upstream investment and derail vital liquefied natural gas (LNG) import projects.
Australia’s Ansila completes acquisition of UK North Sea gas player Hartshead
Australia-listed Ansila Energy has completed a deal to buy the remaining 78.4% it didn’t previously own of North Sea minnow Hartshead Resources.
Thailand’s PTTEP eyes more Middle East deals after $2.45bn BP pact
Thailand’s state-backed upstream player PTT Exploration & Production (PTTEP) said Monday that its $2.45 billion deal to buy a 20% stake in one of Oman’s strategic gas fields from UK major BP will pave the way for future investments in the Middle East.
Exclusive: Frustration for suppliers as Dana decides to pull out of North Sea gas project
Dana Petroleum, of Aberdeen, intends to withdraw from a North Sea gas project which had been earmarked for an investment decision in the near term, it can be revealed.
Africa to miss low-carbon opportunity
Africa will not increase electricity access and limit carbon emissions, a new study has reported, undermining hopes for a potential “leapfrog” effect.
Spirit Energy targets additional barrels from North Sea field with new well
Spirit Energy will drill a new well in a bid to deliver more than 4.2 million additional barrels of oil equivalent from a southern North Sea field.
Neptune Energy awards Cygnus contracts worth £4.8m
Neptune Energy has handed out contracts worth about £4.8 million to secure a range of services on its Cygnus gas platform in the southern North Sea.
Independent Oil & Gas boss anticipates ‘breakthrough year’ for firm
Independent Oil and Gas (IOG) boss said 2021 would be a breakthrough year for the firm as it heads towards first production and maiden revenues.
Shell postpones North Sea seismic job due to fishing, environmental concerns
Shell has postponed a 3D seismic survey in the UK North Sea after weighing up the impacts on fishing businesses and the environment.
UK power grid heads for greenest year as renewables grow
The UK power generation industry is headed for its greenest year yet as more capacity for renewables is added and coal plants are needed less often.
SSE strikes deal to sell gas portfolio to Viaro, which offloads Brae area for 75p
Energy firm SSE has clinched a deal to sell its gas exploration and production assets to Viaro Energy for £120 million.
Serica Energy runs into ‘frustrating’ delays on Rhum project
Bosses at Serica said today that work to bring a third well at the Rhum field into production has run into “frustrating” and costly delays.
Australian firm Ansila eyes UK North Sea developments after acquisition
Australia-listed Ansila Energy has clinched a deal to buy the remaining 78.4% it doesn’t already own of Hartshead Resources in an all-share deal.
Outages and impairments take £100m chunk out of Dana Petroleum profits
Unplanned outages and impairments took a £100 million bite out of Korean-owned Dana Petroleum’s profits last year, new documents show.
North Sea oil gets a jolt from Asian demand
North Sea oil prices are finally strengthening, catching up with other markets that already rallied on the back of rising buying interest from Asia, where demand in many places has already recovered from Covid-19.
Deltic identifies more than 150m barrels on southern North Sea licence
London-listed Deltic Energy has claimed its P2428 licence boasts resources of more than 150 million barrels of oil equivalent.