Spanish Repsol Regains Control over Oil Fields in Venezuela
Repsol has signed an agreement with the Government of Venezuela and the state-owned company Petróleos de Venezuela SA (PDVSA) to regain control over one of its production assets in the South American country, which will allow the Spanish company to increase output. This was reported by the Financial Times (FT). …
TotalEnergies Created the Largest Independent Hydrocarbon Producer in the United Kingdom
The French company TotalEnergies has completed the merger of its upstream business in the United Kingdom with NEO NEXT and created the combined group NEO NEXT+.This was reported by the company’s press service. The combination of upstream assets of TotalEnergies and NEO NEXT Energy Ltd in the North Sea is …
Venezuela Plans to Grant Additional Exploration and Production Areas to the American Company Chevron and the Spanish Company Repsol
Venezuela plans to grant additional exploration and production areas to the American company Chevron and the Spanish company Repsol. This was reported by the agency Bloomberg, citing informed sources. According to the agency’s sources, Venezuelan officials intend to formalize the transfer of subsoil blocks to the energy companies as early …
Alaska Promised Exemption from Oil and Gas Production Ban
During his visit to Alaska, U.S. Interior Secretary Doug Burgum promised to reverse a decision by the previous administration and “free up” 13 million acres of land—out of a total of 23 million acres—for oil and gas production. Joe Biden had previously designated these lands as “special zones.” Companies such …
Chevron Corporation and Companies from the European Union Are Requesting Approval from the United States Administration for Projects in the Bolivarian Republic of Venezuela
Chevron Corporation of the United States and European energy companies are currently engaged in negotiations with the administration of President Donald Trump to retain their stakes in joint ventures with PDVSA, the state-owned oil and gas company of the Bolivarian Republic of Venezuela, according to a report by Reuters. The …
Libya Has Limited Production at Its Largest Oil Field Due to Instability
In Libya, oil production was partially stopped at the country‘s largest Sharara field on August 4 due to unauthorized entry. The maximum capacity of Sharara is 320 thousand barrels per day. According to S&P Global Commodity Insights, production losses now range from 28-70 thousand b/s. Sharara is a joint project …
Libya Has Limited Oil Production at the Largest Field
After limiting production at Libya‘s largest Sharara field, the indicator fell by 30 thousand barrels per day to 230 thousand barrels per day as of the evening of August 3. Libya has begun a partial shutdown of production at its largest oil field, Sharara, Bloomberg reported, citing three sources directly …
Santos and Repsol Consider Selling Stakes in Alaska Oil Fields
Santos and Repsol are considering selling a minority stake in oil fields they jointly own and develop in Alaska. The deal could cost about $1 billion. Oil fields include the Pikka project, one of the largest in Alaska. Its value is estimated by consulting firm Rystad Energy at $4.5 billion. …
Repsol will Sell Its Oil and Gas Assets in Canada to Peyto for $468 Million
Spain’s Repsol has agreed to sell its oil and gas assets in Canada to local Peyto for $468 million (€433 million), the company said. “The agreement covers all mineral rights, associated facilities and infrastructure of Repsol’s Canadian oil and gas business, including assets in the Greater Edson region with net …
Repsol: Sells Remaining Russia Assets To Gazprom Neft
The Spanish Repsol leaves the oil production business in the Russian Federation. The company will sell its stakes in the oil assets of Eurotek-Yugra and ASB Geo to its Russian partner, Gazprom Neft. The deal is likely to be closed by the end of the year, and its amount will …