Statoil Completes Acquisition of Byrding InterestJan 3, 2017On 30 December 2016 Statoil and Wintershall Norge completed their previously announced transaction, whereby Statoil has acquired Wintershall’s 25% interest in...
BP and PTT Sign LNG Sale and Purchase AgreementJan 2, 2017BP and PTT Public Limited Company have entered into a sales and purchase agreement for liquefied natural gas (LNG).
One Billion Barrels from Troll BDec 21, 2016Troll B has produced one billion barrels of oil equivalent since it came on stream on 19 September 1995. Troll B and C combined have been the largest oil producer on the Norwegian continental shelf for the last three years.
Delivering Greater Value from the Culzean ProjectDec 14, 2016Maersk Oil CEO has announced that the capital costs of its marquee Culzean HPHT gas project have been reduced by USD 500 million as a result of higher drilling efficiency and robust upfront design and project planning.
BP Approves Mad Dog Phase 2 Project in the Deepwater Gulf of MexicoDec 2, 2016BP has sanctioned the Mad Dog Phase 2 project in the United States, highlighting its long-term commitment to the country despite the current low oil price environment.
Total and Corbion Form Bioplastics Joint VentureNov 16, 2016Total and Corbion are joining forces to develop bioplastics by creating a 50/50 joint venture to produce and market polylactic (PLA) polymers.
ExxonMobil Begins Production at Port Allen Aviation Lubricants PlantOct 28, 2016Exxon Mobil Corporation has announced that its Port Allen aviation lubricants plant has achieved full production for the entire line of Mobil Jet™ engine lubricants.
Petrobras and Total Form a Strategic Alliance in Upstream and DownstreamOct 25, 2016Petrobras and Total have announced that Pedro Parente, CEO of Petrobras, and Patrick Pouyanné, Chairman and CEO of Total, have signed, in Rio de Janeiro, a Memorandum of Understanding...
Chevron Contract to Supply Liquefied Natural Gas for 10 yearsAug 30, 2016Chevron Corporation has announced that its wholly owned subsidiary, Chevron U.S.A. Inc., has signed a binding LNG Sales and Purchase Agreement (SPA) with ENN LNG Trading Company Limited (ENN)...
Statoil Acquires Operated Interest in Brazilian Offshore LicenseJul 29, 2016Statoil ASA and Petróleo Brasileiro S.A. - Petrobras have agreed that Statoil will acquire Petrobras’ 66% operated interest of the BM-S-8 offshore license in Brazil’s highly prolific Santos basin. The acquisition includes a substantial part of the Carcará oil discovery...
Lundin Petroleum Commences the 2016 Southern Barents Sea Drilling CampaignJul 21, 2016Lundin Petroleum AB has announced that its wholly owned subsidiary Lundin Norway AS has commenced the 2016 exploration and appraisal campaign in the Loppa High area in the southern Barents Sea...
BP Sanctions “Fast-Track” Development of Atoll Discovery in EgyptJun 20, 2016BP has announced that together with the Egyptian Natural Gas Holding Company (EGAS), it has sanctioned development of the Atoll Phase One project...
BP and Rosneft Create Joint Venture To Develop Prospective Resources in East and West SiberiaJun 20, 2016Rosneft and BP have signed final binding agreements to create a new joint venture, Yermak Neftegaz LLC, to conduct exploration in the...
Oil and Gas Discovery at the Brasse Exploration Well and Njord Facility UpdateJun 16, 2016Faroe Petroleum... has announced an oil and gas discovery in the Faroe-operated Brasse exploration well in licence PL740 in the Norwegian North Sea...
Det norske and BP Norge Join ForcesJun 10, 2016Det norske oljeselskap ASA (Det norske) has entered into an agreement with BP p.l.c. (BP) to merge with BP Norge AS (BP Norge) through a share purchase transaction, to create an independent offshore E&P company.
Cluff Natural Resources Plc Acquisition of North Sea LicencesMay 10, 2016Cluff Natural Resources, the natural resources investing company with gas assets in the Southern North Sea, has announced that it has signed a sale and purchase agreement (SPA)...
Marathon Oil to Divest Non-Core AssetsApr 12, 2016Marathon Oil Corporation has announced that it has signed agreements for the sale of certain non-core assets for USD 950 million, bringing the total to approximately...
Eni Enters into the Upstream of MoroccoMar 30, 2016Eni has signed a Farm-Out Agreement (FOA) with Chariot Oil & Gas to enter into Rabat Deep Offshore exploration permits I-VI, located in the Northern Atlantic Margin of Morocco.
Total and CNPC Sign Strategic Cooperation AgreementMar 22, 2016While attending the China Development Forum in Beijing at the invitation of the Chinese government, Patrick Pouyanné, Chairman and CEO of Total, signed a strategic cooperation agreement with Wang Yilin, Chairman of...
Hansa Hydrocarbons Enters DenmarkMar 7, 2016Hansa Hydrocarbons Limited has announced it has been provisionally awarded two new licences under the Danish 7th Licensing Round...
Statoil Energy Ventures Makes First InvestmentMar 7, 2016Statoil Energy Ventures has announced that it has invested USD 3 million in United Wind, a provider of distributed wind energy leasing solutions.
Cash Strapped Petrobras Attempts to Sell Pre-Salt AreasDec 16, 2015“Our strong operational result was consumed by a decline in the exchange rate,” Petrobras Chief Financial Officer Ivan Monteiro told reporters in Rio de Janeiro. Petrobras posted a loss of USD1.01 billion in the third quarter....
By Peter Howard Wertheim & Dayse Abrantes
LUKOIL Launches Two Facilities, Holds Annual Shareholder MeetingJun 26, 2015On June 25, LUKOIL, one of the world’s largest private oil & gas companies and Russia’s second largest oil producer held its annual General Meeting of Shareholders...
Petrobras Reveals Extent of its Losses Due to Corruption and MismanagementApr 23, 2015Brazil's Petrobras, which is on the ropes as if it had been punched by Muhammad Ali. The company is wobbling from the worse corruption scandal in over a half a century history...
By Dayse Abrantes & Peter Howard Wertheim