17 May 21Australia: Strike Energy commits to net-zero 2030
Strike Energy has announced its commitment to net zero Scope 1 & 2 emissions by 2030 and its aspiration to become Australia’s first integrated energy company to deliver full Scope 3 offsets.
17 May 21Mozambique: Sasol concludes sale and purchase agreement to sell 30 per cent interest in ROMPCO pipeline
Sasol South Africa (SSA), a major subsidiary of Sasol, has concluded a sale and purchase agreement (SPA), to sell a 30% equity interest in the Republic of Mozambique Pipeline Company (ROMPCO), subject to pre-emptive rights by other shareholders.
17 May 21Italy: Rockhopper provides update on Ombrina Mare arbitration
AIM-listed Rockhopper Exploration has provided an update on its international arbitration against the Republic of Italy in relation to the Ombrina Mare field.
14 May 21Petrobras presents strong revenue generation in the first quarter
Petrobras closed the first quarter of the year with solid operational and financial performance, even in a challenging period due to the worsening of the pandemic in the country. The company had net income of R$1.2 billion in the quarter, equivalent to US$0.2 billion. Petrobras increased its production of oil and natural gas by 3% compared to the fourth quarter of 2020.
14 May 21Upstream spending, cut by $285 billion in two years, will struggle to recover to pre-pandemic levels - Rystad Energy
The toll of the Covid-19 pandemic on upstream investments in the first two years of the downturn is estimated at a whopping $285 billion, and although spending will slowly start to rise from 2022, it will not reach pre-crisis levels in the coming period, according to a Rystad Energy report.
14 May 21Norway: Spirit Energy granted life extension for facilities on the Vale field
Norway's Petroleum Safety Authority Norway (PSA) has given Spirit Energy Norway consent to use the facilities on the Vale field beyond their original lifespan in order to recover the remaining reserves on the field.
14 May 21UK: IOG signs collaboration agreement with GeoNetZero CDT on Southern North Sea carbon capture and storage research
IOG has signed a collaboration agreement with GeoNetZero CDT, Heriot-Watt University's Centre for Doctoral Training, whereby IOG will support research into carbon capture and storage (CCS) and other renewable opportunities across Quads 48, 49, 52 and 53, the location of its asset portfolio and broader Bacton catchment area in the UK Southern North Sea.
14 May 21Israel: Chevron shuts Tamar gas field off Israeli coast as unrest flares
Chevron has shut down the Tamar natural gas platform off the Israeli coast at the instruction of the country's energy ministry, the company said on Wednesday, following the wave of unrest in the region.
14 May 21Canada: JAPEX announces sale of its interest in the North Montney shale gas project to Petronas
Japan Petroleum Exploration (JAPEX) has agreed to sell its 10% interest in the North Montney shale gas project in Canada to Petronas, the operator of the project. As a result of this transaction, JAPEX expects to record an extraordinary loss of approx. 493 million Canadian dollars.
14 May 21Angola: Seadrill JV secures new contract offshore Angola for the Quenguela drillship
Seadrill has announced a new contract has been secured by Sonadrill, the 50:50 joint venture with an affiliate of Sonangol. Sonadrill has secured a twelve well contract with one option for nine wells and eleven one well options in Angola for the Sonangol Quenguela drillship.
14 May 21UK: Hurricane Energy provides update on proposed financial restructuring
Further to the announcement made on 30 April 2021 regarding the proposed financial restructuring of the Group, the Company confirms that it has filed a claim form and draft explanatory statement at the High Court of Justice in London ahead of a convening hearing expected to be held virtually via video conference on 21 May 2021.