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Petrobras delays Sete decision until January

November 13, 2020
| Archives

Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on September 28, 2020, informs that its Executive Board approved a new change in the deadline for certain conditions set forth in the agreement signed with Sete Brasil to be implemented. Thus, the effectiveness of the agreement and of the other related contracts will depend on the

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ENI exploration and development activity relaunch in Libya 2021

November 12, 2020
| Archives

As activity in Libya’s hydrocarbon sector resumes, read more on how Africa’s largest potential producer is harnessing its singular frontier potential to attract major operators and grow power generation, in a series of articles from the Africa Energy Series Special Report: Libya 2020. Following the resumption of oil activity from mid-October, Libya’s National Oil Corporation (NOC) recently met

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Slumping fuel consumption accelerating shift of refining capacity from North America and Europe to Asia

November 12, 2020
| Archives

Slumping fuel consumption during the pandemic is accelerating the long-term shift of refining capacity from North America and Europe to Asia, and from older, smaller refineries to modern, higher-capacity mega-refineries. The result is a wave of closures, often centering on refineries that only narrowly survived the previous closure wave in the years after the recession in 2008/09. Fuel consumption

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Ramp Logistics secures contract from Tullow offshore Suriname

November 12, 2020
| Archives

Ramps Logistics recently secured the opportunity to provide fully integrated logistics for UK-based oil and gas giant Tullow Oil. Ramps secured a fully integrated contract in September with the exploration and production company for its upcoming drilling campaign in Block 47 in Suriname, said the company in a release on Tuesday. The scope, as in previous campaigns, covers logistics

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Marathon CFO to retire early next year

November 12, 2020
| Archives

Marathon Petroleum Corporation announced that Donald C. Templin, executive vice president and chief financial officer, has elected to retire from the company, effective in January 2021. A nationwide search for the company's next CFO is ongoing. "Don was part of the original management team that established MPC as a publicly-traded company, and his deep financial experience, strong business

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Is Somalia the next offshore frontier?

November 12, 2020
| Archives

Somalia’s opportunity as one of the world’s last true oil and gas exploration frontiers may soon be rekindled – creating an industry to deliver long-term economic growth and prosperity to the Somali people. The launch of the 2020 Somali Bid Round after ratification of the Petroleum Law and Resources Revenue Sharing Agreement, the establishment of the Somali Petroleum Authority (SPA)

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Borr Drilling approves increase in company share capital

November 11, 2020
| Archives

Borr Drilling Limited advises that a Special General Meeting of the Company was held on November 11, 2020 The following resolution was passed: To approve the increase of the Company’s authorized share capital from US$11,182,692.30 divided into 223,653,846 common shares of US$0.05 par value each to US$11,932,692.30 divided into 238,653,846 common shares of US$0.05 par value each by the

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ONGC picks up Sangomar field from FAR for $66 million

November 11, 2020
| Archives

Australian independent FAR Limited has entered into a Sale and Purchase Agreement with ONGC Videsh Vankorneft (a subsidiary of ONGC Videsh) in respect of FAR’s entire interest in the Production Sharing Contract for the Rufisque, Sangomar, and Sangomar Deep (RSSD) Offshore Blocks in Senegal and the relevant Joint Operating Agreement (the RSSD Project). As consideration for the sale,

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PetroRio announces management change

November 11, 2020
| Archives

Petro Rio S.A. communicates to its shareholders and to the market that Mr. George Kassab presented, for personal reasons, his resignation to the position of Investor Relations Officer of the Company. At a meeting held on this date, the Board of Directors has chosen to accept said resignation, having Mr. George Kassab retired from his duties as Investor

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Invictus Energy commences drilling in Zimbabwe

November 11, 2020
| Archives

Australian listed oil and gas exploration company, Invictus Energy, has commenced field operations in the Muzarabani prospect, where the company has started preparing for the drilling of two test wells. The reinterpretation of data originally collected by ExxonMobil has revealed immense oil and gas potential in the area. The project will cost between $15 million and $20 million

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