Category Oil & Gas Blog

Oil Hovering Around $50 Isn’t Enough to Spur OPEC to Action

Oil held near $50/bbl in New York on signs that OPEC and its allies probably won’t go ahead with a much-touted emergency meeting, even as a global oversupply piles up. While the coalition’s technical experts have recommended a production cutback as Asia’s coronavirus batters demand, Azerbaijan’s Energy Minister Parviz Shahbazov told the RIA Novosti newswire

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Tullow to Slash Jobs, Close Offices After Poor Africa and Guyana Results

Tullow Oil will reduce its headcount in Kenya by about 40% as part of a company-wide restructuring following poor performances at its Africa and Guyana operations. About 35 workers will become redundant, Tullow Kenya Managing Director Martin Mbogo said in an emailed response to questions. The reduced team “will focus” on achieving a final investment

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Guyana Slams Activist Group’s ‘Cunning and Calculated Attack’ on Exxon Deal

Guyana vigorously defended its oil contract with ExxonMobil after the deal was criticized by human-rights group Global Witness just a month before the country holds a general election. The report faulted “inexperienced” government officials for failing to press for better terms when the contract came up for renegotiation in 2016, the year after Exxon made

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Following Repsol’s Lead, Equinor Includes End Use In Its Climate Goals

Equinor ASA boosted its targets for reducing emissions just as its oil and gas production hit a record high. For the first time, the Norwegian state-controlled producer set a target for carbon-emissions cuts that also includes the end use of the products it sells. The move, which Equinor had initially resisted, is another illustration of

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