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Tullow Oil and Total have started the process to sell part of their stakes in oil discoveries in Kenya, said people familiar with the matter. The French energy giant is seeking to sell half of its 25% stake in the fields, said one of the people. Tullow said last year that it planned to reduce
The U.S. sanctioned four companies that it says have traded hundreds of millions of dollars worth of Iranian petroleum and petrochemicals in its latest effort to clamp down on the Islamic Republic’s revenue sources. The Treasury Department penalized Triliance Petrochemical Co. Ltd., Sage Energy HK Limited, Peakview Industry Co. Limited, and Beneathco DMCC for dealings
Libya’s Central Bank Governor Sadiq Al-Kabir called on the international community to help end a week-long shutdown of oil ports by eastern military commander Khalifa Haftar, likening the closures to a “bullet in the head.” It is too early to assess the damage from the blockade that’s halted crude exports from the OPEC country and
Basketball legend Kobe Bryant died in a helicopter crash in California on Sunday morning. Bryant, 41, was on board a Sikorsky S-76 with four others – who also died, according to the US Federal Aviation Administration (FAA). The S-76 is used for offshore transit, VIP and emergency flights, and is described by manufacturers Lockheed Martin as
Chevron and four oilfield service providers won U.S. government approval to continue working in Venezuela for 90 days, allowing the companies’ access to the world’s largest reserves of crude despite sanctions on the crisis-stricken country. The U.S. Treasury Department decision is the fourth waiver granted since sanctions were announced in November 2018 in what is
The bosses of some of the world’s biggest oil companies discussed adopting much more ambitious carbon targets at a closed-door meeting in Davos on Wednesday, a sign of how much pressure they’re under from activists and investors to address climate change. The meeting, part of the World Economic Forum program, included a debate on widening
Worley has been awarded the Front-End Engineering Design (FEED) contract for TOTAL E&P USA’s North Platte field development in the Gulf of Mexico. Located approximately 275 kilometers off the coast of Louisiana, the North Platte field development includes a semi-submersible floating production unit (FPU) in water over 1,300 meters deep. The project brings together Worley’s
Bristow Group Inc. (“Bristow”) and Era Group Inc. (ERA) (“Era”) announced today that they entered into a definitive agreement to combine the two companies in an all-stock transaction, creating a financially stronger company with enhanced size and diversification. The combined company, which will be named Bristow, will strengthen its global leadership position with significant operations
Kuwait plans to restart oil production by March at the Wafra field that it shares with Saudi Arabia, more than four years after the neighbors halted output. Wafra has been shut since May 2015, due to a dispute over Saudi Arabia’s renewal of Chevron Corp.’s concession there. The field will resume pumping by March, Kuwaiti
Western Europe’s biggest oil and gas producer just witnessed its final investment boom, according to Norway’s largest bank. Last year’s spectacular rebound in oil spending triggered enough of an economic boost to warrant a cycle of three interest-rate hikes in 2019 alone. But the current investment level, which is still some way off the record