The South Sudan Oil Licensing Round aims to attract interest from a diverse group of foreign investors to a region that is already home to oil and gas majors from China and Malaysia. SourceContinue Reading
Philip LeJeune, LLOG’s President and CEO said “We are pleased to announce first oil from our Praline field, our first pipe-in-pipe tieback, and the continued successful development of our high quality prospect inventory. Praline is the first of four tieback projects we expect to have online in the next year.” SourceContinue Reading
BP announced a significant milestone with the safe start-up of the Manuel project in the US Gulf of Mexico, the fourth of five major projects expected to be delivered globally in 2021. SourceContinue Reading
BP’s energy transition plan will receive a boost from rising oil prices, and the company is already winning back investors after a difficult year, Chief Executive Officer Bernard Looney said. SourceContinue Reading
A key spread between monthly oil futures contracts has blown out to the widest level in seven years as traders bet that U.S. crude inventories are about to get a whole lot tighter. SourceContinue Reading
Oil retreated after hitting $75 a barrel in London for the first time in more than two years, as Russia and other OPEC+ nations were said to consider increasing production. SourceContinue Reading
Moscow is considering making a proposal that the group should ease a global supply deficit by increasing output, according to Russian officials familiar with the matter. Other OPEC+ nations are also discussing a potential supply hike in August, although specific numbers haven’t been mentioned. SourceContinue Reading
Exxon Mobil Corp. is preparing to reduce headcount at its U.S. offices by between 5% and 10% annually for the next three to five years by using its performance-evaluation system to suss out low performers, according to people familiar with the matter. SourceContinue Reading
“They blocked us, they sanctioned us, they stole all our foreign assets,” said Venezuelan oil minister Tareck El Aissami. “Without any financing, with our own money, we’ve been able to invest enough to stop the slide and start a gradual recovery.” SourceContinue Reading
