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Archer bags long term contract from Aker BP for offshore Norway

November 28, 2020
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Archer has secured a five-year contract from Aker BP with an additional three-year extension option for the provision of platform drilling operations and maintenance services on the Ula and Valhall installations in the Norwegian sector of the North Sea. The contract will commence January 1, 2021 in direct continuation of the current contract. Archer will deliver platform drilling, maintenance

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Angola’s Sonangol to be Privatized by 2022

November 27, 2020
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Angolan Finance Minister, H.E. Vera Daves de Sousa, has announced the dispersion of part of Angolan petroleum and natural gas company, Sonangol, and Angolan mining company, Endiama, on the stock exchange. De Sousa made the announcement at a virtual conference held by Bloomberg in which she expects privatization to commence by 2022. “We are aiming for the end

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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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