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BP, Eni near deal on Angola JV and Algeria asset swap

March 11, 2022
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Eni and BP are near a deal to raise around $2.5 billion in financing to merge their oil and gas operations in Angola and close to a separate agreement for Eni to buy stakes in Algerian gas plants, three sources told Reuters. The two companies last year announced plans to combine their Angolan businesses into a new self-funded

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Exxon looking at a Bakken asset sale

March 11, 2022
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Exxon Mobil is considering a sale of assets in North Dakota’s Bakken, after drawing interest from potential suitors, the Bloomberg News reported on Thursday, citing people familiar with the matter. Exxon’s shares were up as much as 2.31% at $84.71 in afternoon trade. The Bakken properties could be worth about $5 billion and the oil major is in the

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As Shell shuns off Russian oil, writedowns of over $400 million are announced

March 11, 2022
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Shell has announced its intent to withdraw from its involvement in all Russian hydrocarbons, including crude oil, petroleum products, gas and liquefied natural gas (LNG) in a phased manner, aligned with new government guidance. As an immediate first step, the company will stop all spot purchases of Russian crude oil. It will also shut its service stations, aviation fuels

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Eni drops Russian oil purchases

March 11, 2022
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Italian energy group Eni has suspended the purchase of oil from Russia following its invasion of Ukraine and is watching developments closely with regards to gas procurement. "Eni has suspended the stipulation of new contracts related to the procurement of oil and oil products from Russia," the company said in emailed comments on Wednesday. Western sanctions imposed after the

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QatarEnergy signs cooperation agreement with NAMCOR

March 4, 2022
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QatarEnergy has signed a Cooperation Agreement with NAMCOR E&P, a subsidiary of the National Petroleum Corporation of Namibia (NAMCOR). The agreement provides the framework for cooperation between QatarEnergy and NAMCOR E&P to support and develop a sustainable upstream oil and gas sector in Namibia, including the provision of opportunities for the training and development of NAMCOR employees in industry-based skills. His Excellency

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Pressure grows on Biden to ban U.S. imports of Russian oil

March 4, 2022
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A bipartisan group of U.S. senators introduced a bill on Thursday to ban U.S. imports of Russian oil, saying the shipments could be replaced by boosting output in North America and other places. The bill would have to pass the Senate and House and be signed by President Joe Biden to become law, but the White House has

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ADES purchases the Hakuryu 12

March 4, 2022
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According to Esgian, an Oslo based company that provides analytical tools for the energy industry, noted that ADES has completed the acquisition of 2015-built PPL Pacific Class 400 Hakuryu-12 (now Admarine 680) from Japan Drilling Company (JDC). The jackup is valued by Esgian Rig Values in the range of $50 - $58 million. The acquisition price is

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COSL and AGR gear up the Innovator for work in the North Sea

March 4, 2022
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Advance Global Recruitment (AGR) has recently been awarded a contract as a sole supplier with drilling contractor COSL Drilling Europe AS (COSL). The Edinburgh-based recruitment company will be supplying personnel for COSL’s 6th Generation harsh environment semi-submersible drilling unit in the North Sea, COSLInnovator, for a drilling contract commencing in April 2022. Contracted by CNOOC Petroleum Europe Limited,

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Island Drilling awarded contract with Eco Oil & Gas

March 4, 2022
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Eco (Atlantic) Oil & Gas has announced that the Joint Venture partnership of Block 2B, offshore South Africa, has entered into a drilling contract for the Island Innovator semi-submersible rig with Island Drilling Company for the upcoming drilling of the Gazania-1 well. The Block 2B JV partners are Africa Energy, with a 27.5% Working Interest ('WI'), a subsidiary of Panoro Energy holds a 12.5% WI and Crown

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