Industry News

This is news related to the energy sector.  Clicking on stories below will take you to the publisher's website.


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Oil & gas giant, Shell, through its affiliates, has reached an agreement with Assala Energy Holdings Ltd. to sell 100 percent of its Gabon onshore interests for $587 million.

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Residents of Venezuela's capital awoke to long lines of cars at gas stations amid rumors that fuel supplies in the nation with the world's largest oil reserves are running out.

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Royal Dutch Shell's Nigeria subsidiary "fiercely opposed" environmental testing and is concealing data showing thousands of Nigerians are exposed to health hazards from a stalled cleanup of the worst oil spills in the West African nation's history, according to a German geologist contracted by the Dutch-British multinational.

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California air regulators have adopted a new strategy for curbing methane leaks from oil and gas facilities.

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The UK Oil and Gas Authority’s 29th Offshore Licensing Round was the first in 20 years to focus solely on frontier, underexplored areas and included areas of the Rockall basin, Mid-North Sea High, and part of the East Shetland platform. The round, which closed in October 2016, produced 25 licenses for 111 blocks and partial blocks. OGA awarded bids to 17 companies.

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An exploratory well drilled by Statoil Petroleum AS in the Norwegian North Sea was not formation tested, but preliminary calculations indicate recoverable resources of 1-3 million cu m of oil equivalent.

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The US count of active drilling rigs climbed 20 units to 809 during the week ended Mar. 24, according to data from Baker Hughes Inc.

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Moody’s Investors Service has changed the outlook to stable from negative on the North American and EMEA (Europe, the Middle East, and Africa) regions refining and marketing (R&M) businesses. This outlook reflects Moody’s expectation for the fundamental business conditions over the next 12-18 months.

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Assala Energy Holdings Ltd., a portfolio company of global alternative asset manager Carlyle Group, has agreed to acquire all of Royal Dutch Shell PLC’s onshore oil and gas operations and related infrastructure in Gabon for $587 million.

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The New Zealand government is hoping for a more positive industry response to its latest exploration permit round than it received in 2016.

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Faroe Petroleum expects to benefit from the proposed redevelopment of the Maersk-operated Tyra production facilities in the Danish North Sea in 2019.

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The UK’s Oil & Gas Authority has joined the Netherlands Organization for Applied Scientific Research on an on-going joint industry research project, called “Hypo-Lias,” to explore the hydrocarbon potential of Jurassic rock formations across the Southern North Sea.

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Kosmos Energy has begun the second phase of its multi-well exploration drilling program offshore Mauritania and Senegal.

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Azinor Catalyst has secured two operated licenses covering 10 blocks in the North Sea Firth under the UK’s 29th offshore licensing round.

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Geokinetics has won a contract from Brunei Shell Petroleum Co. to acquire a high-resolution 3D seismic survey offshore Brunei Darussalam.

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The Industry Technology Facilitator and the Oil & Gas Innovation Centre will jointly fund and support development of innovations to designed to cut costs, raise production efficiency, and improve safety and environmental performance.

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Light, sweet crude oil prices dropped back below $48/bbl on the New York market Mar. 23 while Brent crude settled below $51/bbl in London for a third consecutive day.

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Current-year deductibility of exploratory drilling costs succumbs to what the Canadian government describes as a campaign against “inefficient fossil-fuel subsidies” in a federal budget proposed Mar. 22.

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Eni SPA discovered the presence of oil in the Amoca-2 well, the first drilled by an international operator in Mexico since the 2013 energy reform.

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Total US petroleum deliveries, a measure of demand, moved up 0.1% in February compared with a year ago to average 19.7 million b/d, marking the highest February deliveries since 2008, according to the latest report from the American Petroleum Institute.