On the 9th July Eni announced a second oil discovery in the Fagur Basin in the Egyptian Western Desert. SWM B1-X was drilled four miles away from the first discovery (SWM A2-X), to a total depth of 14,839 feet, and encountered 114 feet of…
UK Oil & Gas Investments (UKOG) has announced that it intends to change its trading status under AIM rules from an Investing Company to that of an Operating Company. The change of status will be implemented following publication of an admission document and obtaining…
Total and Direct Energie have announced the completion of the acquisition today by Total of 73.04% of the share capital of Direct Energie*1, for €42 per share, representing approximately €1.4 billion. This acquisition, which is subsequent to the satisfaction of all conditions precedent referred…
Vaar Energy AS, to be formed by the merger of Eni Norge AS and Point Resources AS, will spend US$8 billion during the next five years to raise production offshore Norway to 250,000 boe/d of oil and natural gas from the companies’ combined output of…
China National Petroleum Corporation (CNPC) is expected to sign a preliminary agreement with Abu Dhabi National Oil Company (ADNOC) later this month to invest in oil and gas exploration and refinery projects, four sources with knowledge of the matter said. The agreement will be signed during a…
Rolls-Royce has agreed to sell its Commercial Marine business to Kongsberg for an enterprise value of £500 million (US$661 million). This follows a review of the division’s operations in January. Commercial Marine, which has around 3,600 employees, had an operating loss last year of…
Spirit Energy has agreed to take on operatorship of the producing Babbage gas field in the UK southern North Sea, in which it presently holds a 13% interest. The company will also assume operatorship of the nearby Cobra discovery, where it has a 50%…
Norwegian oil and gas company Equinor has reached an agreement to buy 100% of shares in Danish energy trading company Danske Commodities (DC) for €400 million (US$468.3 million). Equinor said that the acquisition included smaller contingent payments depending on DC’s performance over the next…
Malaysia’s MISC Berhad has signed a long-term charter contract with Hess Exploration and Production Malaysia for the lease of a floating, storage and offloading facility (FSO) known as FSO Mekar Bergading on a bareboat basis. MISC said in a Bursa Malaysia filing on the 6th…
Updates at The Standard Club The Standard Club’s London team moved into a new office at: The Minster Building 21 Mincing Lane London EC3R 7AG This has been the registered address since the 11th April 2018, when Standard House was vacated. With effect…
