Companies

France’s TotalEnergies and Eni have completed the transfer to QatarEnergy of a 30% interest in exploration Blocks 4 and 9 off the coast of Lebanon, the French firm said on January 29. “We are very pleased to welcome QatarEnergy in our exploration acreage in Lebanon. The recent delineation of Lebanon’s …

ExxonMobil, Chevron, Shell, TotalEnergies, and BP reaped almost $200 billion collectively last year but fears of an economic slowdown, plunging natural gas prices, cost inflation and uncertainty over China’s re-opening are dimming the outlook for 2023. The five companies are expected to report $198.7 billion in combined 2022 profit in …

Italian oil and gas major Eni and Algeria’s Sonatrach have signed strategic agreements to accelerate emissions reduction and strengthen energy security. Eni said that, through the agreements, the two companies would identify opportunities for the reduction of greenhouse gas and methane gas emissions. They will also define energy efficiency initiatives, …

Rig activity stood out in several regions in 2022 and there is no reason to expect anything different in 2023, Westwood Energy believes. In 2022, offshore rig activity for both jack-ups and floating rigs was robust in several key regions of the world. Global marketed jack-up utilization increased from 87% …

Eni and Algeria’s Sonatrach have signed two deals on future projects on energy supply, energy transition and decarbonisation, the Italian energy group said on Monday. The agreements were signed in Algiers in the presence of Italy’s Prime Minister, Giorgia Meloni, and Algeria’s President, Abdelmadjid Tebboune. Under the deals, Eni and …

Norwegian state-owned energy giant Equinor has received consent from the country’s offshore safety regulator to use one of Transocean’s semi-submersible rigs for plugging, drilling and completion activities at a field in the North Sea off Norway. The Petroleum Safety Authority Norway (PSA) revealed on Thursday that it had given Equinor …

Equinor and its partners have made a commercial gas discovery in the Norwegian Sea, following the drilling of wildcat well 6605/1-2 S and appraisal well 6605/1-2 A. Located approximately 23km south of the Irpa oil field and 350km west of Sandnessjøen, the new discovery, named Obelix Upflank, is estimated to …

Saudi Aramco has combined its main trading unit with that of US refiner Motiva Enterprises, as the oil giant consolidates its dealing operations before potentially listing them. Aramco has set up a new entity, Houston-based Aramco Trading Americas LLC, which will be the regional office for the Saudi company’s broader …

Equinor has made a commercially viable gas discovery in the Norwegian Sea believed to contain between 2 billion and 11 billion cubic metres of recoverable gas, the company said on Wednesday. The find is located 23 kilometres south of the Irpa gas discovery and also close to the Aasta Hansteen …

TotalEnergies has approved the final investment decision of the Lapa South-West oil development in the Santos Basin, 300 km off the coast of Brazil. This development represents an investment of approximately $1 billion. “This latest development is an important milestone for TotalEnergies in Brazil that will increase its operated production …