After considering the consequences of the COVID-19 global pandemic on oil prices and African economies, the Ministry of Mines and Hydrocarbons (MMH) of Equatorial Guinea has signed a ministerial order granting oil and gas companies a two-year extension on their exploration programmes.
Total recorded a 35 per cent decrease in its first quarter profit as oil prices tumbled during the period.
Repsol has made two significant offshore oil discoveries in Mexico’s deepwater with its Polok-1 and Chinwol-1 exploration wells in Block 29 in the Salina Basin.
The Hague-based LNG giant Shell has reached an agreement with U.S. firm National Fuel Gas Company to sell its Appalachia shale gas position for $541 million. Shell will sell the assets via its unit SWEPI. The deal includes about 350 producing Marcellus and Utica wells across about 450,000 net leaseh
Canadian oil and gas company Zenith Energy has completed the acquisition Anglo African Oil & Gas’ subsidiary which is the operator of the Tilapia oilfield in the Republic of the Congo.
Wintershall Dea has installed two manifolds in the templates on the seabed of its Nova field project located offshore Norway.
Norwegian vessel owner Solstad Offshore has entered into medium-term contracts for six of its vessels with undisclosed clients.
Saipem has won a gas pipeline transportation and installation contract between Denmark and Poland in the Baltic Sea. The contract, signed by its controlled subsidiary in U.K. Saipem Ltd, is worth approximately 280 million euro. The Baltic Pipe Project is a strategic infrastructure project between GA
BW Energy has experienced a delay in hook-up operations of a well in the Dussafu Marin Permit, offshore Gabon, due to the coronavirus crisis.
Abu Dhabi-based Gulf Marine Services (GMS) has turned down a USD 32 million takeover offer from Seafox International saying that the offer ”fundamentally undervalues GMS”. As reported earlier, Seafox submitted an unsolicited and non-binding possible cash offer for the entire issued and to be issued
The worldwide offshore rig count in April 2020 has dropped 28 rigs year-over-year and 19 rigs sequentially, according to rig count reports by Baker Hughes Company.
ExxonMobil booked a quarterly loss due to asset impairments amid lower oil prices while its production was up by 2 per cent.
Shipowning company Ocean Yield and Solstad Offshore have agreed to further extend the standstill period for two anchor handlers.
Chevron booked a larger profit in the first quarter of 2020 compared to the same period last year.
