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Month: November 2020

Woodside delays Sangomar wells offshore Senegal

November 27, 2020
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Australian natural gas producer, Woodside Energy has announced a delay in its drilling activities in Senegal’s Sangomar offshore wells. The company has postponed activities until the second quarter of 2021 due to the effects COVID-19 has had on the oil and gas industry. The start of the campaign, which comprises 23 wells, was scheduled for the first quarter

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Exxon and Total in talks over Mozambique LNG resource-sharing deal

November 27, 2020
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ExxonMobil and Total are in negotiations over their massive LNG projects in Mozambique, with each seeking to extract more gas from a shared field that straddles the two developments and cut costs. The talks between the energy majors also involve the Mozambican government, according to the sources, as it has to give final approval to any new agreement. The

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Schlumberger workers in Norway ready to strike over pay

November 27, 2020
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Some 262 oil service workers at Schlumberger’s Norwegian subsidiary plan to go on strike from Dec. 3 if negotiations with employers over pay and working conditions fail, the Safe trade union said on Thursday. The negotiations cover drillers, well service crews, divers and other workers at oil industry subcontractors Baker Hughes , Vetco Gray, Weatherford, Oceaneering, Schlumberger and

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Venezuelan court sentences six former Citgo executives to prison

November 27, 2020
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A Venezuelan court sentenced six former executives of U.S. refiner Citgo to prison after finding them guilty of corruption charges on Thursday. The officials were arrested in November 2017 after being called into a meeting at the Caracas office of state oil company PDVSA, which owns Citgo. They were accused of crimes such as embezzlement, money laundering and

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Global E&P investment to reach $380 billion in 2021

November 25, 2020
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Investments from global exploration and production companies (E&P) in 2021 are projected to reach around $380 billion, almost flat year-on-year, a Rystad Energy report shows. About 20% or $76 billion of the estimated 2021 investments could be at risk of deferral or reduction, with the remaining amount being categorized in the safer tiers of low and medium-range

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Exxon oil price outlook lowered for much of next decade

November 25, 2020
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U.S. oil major Exxon has lowered its expectations for oil prices for much of the next decade, the Wall Street Journal reported on Wednesday, citing internal company documents. As part of an internal financial-planning process conducted this fall, the company has cut its outlook for future oil prices for each of the next seven years by 11% to

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Eni pipelines sabotaged with “explosive devices” between Friday and Saturday

November 25, 2020
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Eni declared force majeure on exports of Nigerian Brass River crude oil following pipeline explosions in Bayelsa state, the company said on Tuesday. A source with direct knowledge of the matter said the notice of force majeure was dated Sunday. Eni said two pipelines were sabotaged with “explosive devices” between Friday and Saturday and that production would resume in

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Tullow plan on investing $2.7 billion over next 10 years

November 25, 2020
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Britain’s Tullow Oil will commit 90% of its investments in coming years on its producing offshore oilfields in West Africa and put exploration on the back burner to reduce debt. Tullow, which was set up in the 1980s produce oil and gas in Africa, has historically focused on exploring for new discoveries but the oil price collapse this

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API pledges to fight possible Biden fracking limits

November 24, 2020
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If U.S. President-elect Joe Biden tries to restrict development of oil and gas drilling on federal lands, the American Petroleum Institute (API) will use “every tool at its disposal” including legal action, chief executive Mike Sommers said in an interview with Reuters on Monday. Biden has said he supports a ban on new gas and oil permits —

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