Latest News
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29 Apr 24
NTU Singapore, ExxonMobil and A-STAR launch S$60 million corporate lab for low carbon solutions
ExxonMobil Technology and Engineering Company (ExxonMobil), Nanyang Technological University, Singapore (NTU Singapore), and the Agency for Science, Technology and Research (A-STAR) have established the ExxonMobil-NTU-A-STAR Corporate Lab to develop solutions that would help lower carbon emissions, contribute to resource efficiency, and help build a more sustainable future. -
29 Apr 24
Norway: The Norwegian Offshore Directorate has granted Equinor a drilling permit for wells 35/10-14 S and 35/10-14 A PL 1185
The Norwegian Offshore Directorate has granted Equinor a drilling permit for wells 35/10-14 S and 35/10-14 A in PL 1185. The wells will be drilled by the Deepsea Stavanger semi-sub. -
29 Apr 24
Petrofac announces update on restructuring and trading update
Petrofac has announced a delay to its audited full year 2023 results which it now expects to publish by 31 May 2024. The Company also reports the progress made with creditors on its financial restructuring and issues a trading update. -
29 Apr 24
Wood appoints Chief Strategy Officer
Wood, a global leader in consulting and engineering, has appointed Jennifer Richmond as Chief Strategy Officer (CSO). The newly created role will combine and streamline several of Wood's corporate functions to drive progress on the company's growth strategy and priorities. -
29 Apr 24
Brazil: Perenco announces acquisition of Cherne and Bagre concessions, Campos Basin, Brazil
Perenco Brazil has announced the acquisition of the Cherne and Bagre concessions from Petrobras. Following the closing of the transaction, expected in 2025, Perenco Brazil will implement an ambitious redevelopment plan to revitalise the assets, restart production to a target rate of 10,000-15,000 barrels of oil per day and unlock in excess of 50 mmstb of reserves. -
29 Apr 24
France: Ørsted to divest its French onshore business
Ørsted has announced the divestment of its French onshore operations to ENGIE as part of a strategic prioritisation of other European markets for onshore renewables. -
29 Apr 24
Denmark: BlueNord provides update on Tyra Redevelopment Project
Bluenord reports that, following the stock exchange notice published on 18 April 2024 by BlueNord related to the operational occurrence with the IP compressor temporarily impacting the commissioning of the new Tyra facilities during the ramp-up and testing period, continued efforts and investigations are ongoing, however, the export volumes from Tyra II are expected to be impacted for the month of May 2024. -
29 Apr 24
Tanzania: Aminex announces final results for year ended 31 december 2023
Aminex has announced its audited financial results for the year ended 31 December 2023. The operator of the Ruvuma PSA, ARA Petroleum Tanzania, continues to progress operations at the Ntorya gas field. -
29 Apr 24
Aminex agrees funding facility with Eclipse Investments
Aminex, the oil and gas exploration and development company focused on Tanzania, has agreed a funding facility with its largest shareholder, Eclipse Investments. -
29 Apr 24
Germany: Beacon Energy announces Erfelden operational update
AIM-listed Beacon Energy, the full-cycle oil and gas company with a portfolio of onshore German assets through its wholly-owned subsidiary, Rhein Petroleum, has announced that the drilling rig for the SCHB2 sidetrack has been released by the previous operator and will shortly commence mobilisation to the Erfelden site. -
29 Apr 24
Jadestone Energy announces 2023 full year results
Jadestone Energy has announced its 2023 full year results. 2023 was a pivotal year for Jadestone, as the Company continued the deliberate move away from its older legacy assets in Australia towards newer and higher-value, higher-margin assets across the Asia-Pacific region. -
29 Apr 24
Norway: Horisont Energi’s Gismarvik CO2 Hub and cross-border CO2 infrastructure network receives EU Project of Mutual Interest status
Horisont Energi’s Gismarvik CO2 Hub has been included in the EU list of Project for Mutual Interest (PMI) as part of the European Nautilus CCS network. 'This is a validation of the potential of this network to contribute to creating a European CCS market and support EU’s energy and climate targets. -
29 Apr 24
Malaysia/Vietnam: Hibiscus Petroleum announces exploration discovery at Bunga Aster-1 well
Hibiscus Petroleum has announced that its wholly-owned subsidiary, Hibiscus Oil & Gas Malaysia, as the operator of the PM3 Commercial Arrangement Area Production Sharing Contract ('PM3 CAA PSC'), has successfully completed the drilling of the Bunga Aster-1 exploration well. -
29 Apr 24
Australia: Triangle Energy signs rig for Perth Basin well Booth-1
Triangle Energy Global has advised that its Joint Venture with Strike Energy and New Zealand Oil and Gas has contracted a rig to drill the Booth-1 well in the North Perth Basin. The Booth prospect, located in the east of L7, is planned to be the first well in the upcoming JV's drilling campaign. -
29 Apr 24
Repsol posts net income of €969 million in the first quarter
Repsol posted net income of €969 million in the first quarter of 2024. The company's integrated business model proved its strength and was a key factor in achieving a solid adjusted income of €1.267 billion. On February 22, the company presented its Strategic Update 2024-2027, which laid out the priorities and objectives to bolster its profitable growth, consolidate its multi-energy commitment and achieve its decarbonization goals. -
29 Apr 24
Fugro announces Q1 2024 trading update
Fugro reports a strong start of the year 2024 with continued revenue growth and margin improvement. Ongoing significant growth in offshore wind projects, resulting in 9.0% overall revenue growth. Further improvement in profitability, resulting in 16.5% EBITDA margin and 8.8% EBIT margin, and operating cash flow increases by EUR 24.0 million to EUR 66.2 million; offset by higher working capital compared to exceptionally low level at year-end 2023. -
29 Apr 24
Nigeria: NNPC restarts production from the Awoba field
The Nigerian National Petroleum Company (NNPC) and its Joint Venture partner, Newcross Exploration and Production, have restarted production from the Awoba field which last contributed production to the Bonny Terminal in 2021 and was finally shut down in February 2022 due to evacuation issues and crude oil theft.
