Ophir Energy is in talks to sell the company to Indonesia’s Medco, a leading Southeast Asian energy and natural resources company listed on the Jakarta Stock Exchange. “Further to the share price movement in Ophir, the Boards of Ophir and Medco confirm they are…
The WTI and Brent crude oil benchmarks posted gains on the final trading day of 2018. The West Texas Intermediate (WTI) and Brent crude oil benchmarks posted gains on the final trading day of 2018, but they’re down by double-digit percentages for the year….
Eni UK Limited has begun drilling the Rowallan exploration well in the Central North Sea, partner Serica Energy plc announced on the 31st December. The Rowallan exploration well 22/19c-G targets the high-pressure, high-temperature gas condensate Rowallan prospect in the east of Block 22/19c. …
Victoria Oil & Gas has announced that its wholly owned subsidiary Gaz du Cameroun (‘GDC’) has received the Decree signed by President Paul Biya on the 17th December 2018, authorising the transfer of interest in the Matanda Production Sharing Agreement (‘Matanda PSC’) licence assigned from…
Hague and London Oil has announced that following the satisfaction, or waiver, of all conditions precedent, Hague and London Oil confirms that it has now formally completed its acquisition of Third Energy Offshore Limited (‘TEOL’). HALO is acquiring the assets through the purchase by…
The world’s biggest banks are reckoning on a rebound in oil prices next year as fears of a recession prove misplaced. The Brent benchmark will average US$70 a barrel in 2019, almost a third higher than its price on the 26th December, according to…
The socialist government of Venezuela and its political opponents at home who have been starkly divided over the past two decades on the best path forward for the country, have suddenly united around a common theme: the century-old dispute with Guyana. The neighbouring countries…
Offshore driller Transocean has entered into an offshore rig deal with Chevron which will see Transocean lease “industry’s most capable ultra-deep-water drillship” to Chevron for Gulf of Mexico operations starting in 2021. Transocean said on the 27th December that it had signed a rig design…
Many people will tell you that the production rate of Saudi Arabia’s Ghawar oil field, which has yielded five million barrels of petroleum per day for decades, will never be surpassed. In fact, no other oil field has ever come close to topping the production…
In March 2018, Saudi Aramco participated in the Saudi-US CEO Forum held in New York to promote bilateral business and cooperation between the two countries. During this forum, Aramco discussed US$10 billion commercial collaborations with 14 American companies including: Schlumberger Ltd, Baker Hughes, A…
