Author hkrichiedistribution
Nigeria began preliminary talks with international oil companies to settle a dispute over revenue. The government, citing a 2018 Supreme Court ruling, says it’s entitled to $62 billion from the companies after they failed to comply with a 1993 law that hands the state a greater share of income when oil exceeds $20/bbl. The companies
Total SA is spending $600 million to expand its presence in one of the world’s fastest growing natural gas markets. Total agreed to purchase a 37.4% stake in India’s Adani Gas Ltd., a distributor of the fuel that is developing import terminals and a national chain of vehicle-filling outlets. The deal gives the world’s second-largest
Equinor made a final decision to invest in floating wind turbines to power offshore oil platforms off Norway after the government agreed to subsidize a large part of the cost. Hywind Tampen will cost a total of almost 5 billion kroner ($550 million), it said in a statement on Friday. That’s in line with the
U.S. ambassador to Angola, the Hon. Nina Maria Fite, hosted a delegation of top Angolan oil and gas officials to explore opportunities for the two nations to collaborate on the next phases of Angolan energy development. Meeting at the Louisiana Gulf Coast Oil & Gas Exhibition (LAGCOE) in New Orleans, Ambassador Fite was joined by
The head of Norway’s oil regulator, who bows out after 12 years of pushing companies to squeeze out every possible barrel from projects, said she’s leaving an industry in good health despite a growing debate over its future. After all, Norway has just started the Johan Sverdrup oil field, its biggest in decades, which will
The Middle East produces a fifth of the world’s oil, but the region’s never had a benchmark price that competes with London’s Brent or New York’s WTI. That could be about to change. One of the Persian Gulf’s biggest producers, Abu Dhabi, wants to create a benchmark for Middle Eastern crude that competes for customers
The U.S. Energy Information Administration (EIA) forecasts lower crude oil prices in the fourth quarter of 2019 and in 2020 despite tighter global balances. The tighter balances are largely the result of unprecedented short-lived loss of global supply following the September 14 attacks on crude oil production and processing infrastructure in Saudi Arabia. The production
Brazil’s efforts to uncover the origin of oil washing up on more than 130 beaches along its pristine northeastern coastline are pointing to Venezuela as the likely culprit. Brazilian Environment Minister Ricardo Salles on Wednesday said that a report from Brazil’s state-controlled oil company Petroleo Brasileiro SA indicates that the oil originated from Venezuela, a
Equinor and its parters in the Snorre and Gullfaks developments have submitted plans to the Norwegian authorities to create the Hywind Tampen offshore wind farm to power both oil and gas platforms. Equinor says this will be the first time oil and gas platforms will be powered by a floating offshore wind farm. The wind
Greenpeace activists have left two rigs on the North Sea due to safety concerns. The environmental group said increasingly bad weather had forced it to take the climbers off the Brent Alpha and Bravo platforms. Shell confirmed three protesters had occupied the two platforms from Monday morning. Greenpeace activists from the Netherlands, Germany and Denamrk