Archive for Press Releases

Seplat Announce Appointment of Non-Executive Director

Seplat Announce Appointment of Non-Executive Director

July 23, 2019 No Comments

The Board of Directors of Seplat Petroleum Development Company Plc., announced the appointment of Madame Nathalie Delapalme as a Non-Executive Director of the Company with effect from 18th July 2019. Madame Delapalme is an Independent Director on the Board of Directors of Maurel et Prom and has acted as an alternate to Maurel et Prom’s […]

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Eni sells a 13.75% share in the blocks L11A, L11B e L12, to Qatar Petroleum

Eni sells a 13.75% share in the blocks L11A, L11B e L12, to Qatar Petroleum

July 23, 2019 No Comments

Eni and Qatar Petroleum (QP) today signed an agreement that will see the Qatari national oil company acquire a 13.75% share in the exploration blocks L11A, L11B and L12, in deep offshore Kenya. The proposed deal is pending subject to the approval of the Kenyan authorities. Blocks L11A, L11B and L12 are located in water […]

The Oil Crisis Saudi Arabia Can’t Solve

The Oil Crisis Saudi Arabia Can’t Solve

July 23, 2019 No Comments

Saudi Arabia’s CEO Amin Nasr’s message to the press that oil flows to the market are guaranteed, should be taken with a pinch of salt.  Looking at the current volatility in the Persian/Arabian Gulf and the possibility of a temporary closure of the Strait of Hormuz, the Aramco CEO’s message might be a bit overoptimistic. In reality, […]

BP expands in renewable energy Sector, combining biofuels and biopower with Bunge in Brazil

BP expands in renewable energy Sector, combining biofuels and biopower with Bunge in Brazil

July 23, 2019 No Comments

BP has agreed to form a 50:50 joint venture with Bunge – a leader in agriculture, food and ingredients – that will create a leading bioenergy company in one of the world’s largest fastgrowing markets for biofuels. BP will combine its Brazilian biofuels and biopower businesses with that of Bunge to create a world-scale, highly-efficient […]

Eni announces new production from the Western Desert

Eni announces new production from the Western Desert

July 23, 2019 No Comments

Eni announced that production from South West Meleiha Development Lease, located in the Egyptian Western Desert, some 130 Km North of the oasis of Siwa, has started. The current production, delivered through two oil producer wells, is around 5.000 barrel of oil per day (BOPD) and is expected to reach 7.000 BOPD within September 2019. […]

Gulf War III and oil prices

Gulf War III and oil prices

July 23, 2019 No Comments

The cynic in me cannot help but wonder at the convenient turn of events over the past few weeks. The sorry saga began with the UK detaining a tanker carrying Iranian oil at the start of July, citing concerns the oil was destined for sanctioned Syria. Iran’s Revolutionary Guard has now, as expected, retaliated with […]

EIA Financial Review: 1st Qtr. 2019 Report Released

EIA Financial Review: 1st Qtr. 2019 Report Released

July 23, 2019 No Comments

Key findings; Brent crude oil daily average prices were 5% lower in first-quarter 2019 than in first-quarter 2018 and averaged $64 per barrel The 119 companies in this study increased their combined liquids production 4.3% in first-quarter 2019 from first-quarter 2018, and their natural gas production increased 2.3% during the same period Nearly two-fifths of […]

TechnipFMC Awarded Integrated EPCI (iEPCI™) Contract in the North Sea

TechnipFMC Awarded Integrated EPCI (iEPCI™) Contract in the North Sea

July 23, 2019 No Comments

TechnipFMC (NYSE: FTI) (PARIS: FTI) has been awarded a significant(1) integrated Engineering, Procurement, Construction and Installation (iEPCI™) contract from Neptune Energy for the Seagull project, located in the Central North Sea. This contract is the second call-off under the recently announced five-year strategic global alliance agreement between TechnipFMC and Neptune Energy. TechnipFMC will manufacture, deliver […]

Eni starts the installation of the hull of Coral Sul FLNG

Eni starts the installation of the hull of Coral Sul FLNG

July 22, 2019 No Comments

Eni has started installation works on the hull of the Coral Sul floating liquefied natural gas (FLNG) treatment and liquefaction unit that will be moored offshore in Mozambique. The unit is part of the Coral South project, which will put in production 450 billion cubic meters of gas from the giant Coral reservoir. The hull […]

LineStar Integrity Announces Acquisition Of Remote Operations Center

LineStar Integrity Announces Acquisition Of Remote Operations Center

July 22, 2019 No Comments

LineStar Integrity Services LLC (“LineStar”), a leading provider of pipeline integrity, maintenance and repair services, today announced that it has completed the acquisition of Remote Operations Center, LLC (“ROC”) and The Compliance Group, Inc. (“CGI”). LineStar is a portfolio company of First Reserve, a leading global private equity investment firm exclusively focused on energy. The […]

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