Royal Dutch Shell to Withdraw from Development of Three Natural Gas Projects in the Caribbean Waters of Colombia
The British energy corporation Royal Dutch Shell has announced its withdrawal from participation in three offshore natural gas projects located in the Caribbean Sea off the coast of Colombia, which were being developed in partnership with the state-owned company Ecopetrol. This was reported by Reuters based on official statements issued …
Shell to Complete Exploration of Venezuela’s Dragon Field Before U.S. License Expires
British oil and gas company Shell plans to complete exploration activities at the Dragon gas field in Venezuela by May — the deadline set by the United States government for foreign companies to wind down operations in Venezuela’s energy sector, according to Reuters sources. According to data from LSEG, in …
Cyprus Is Making Another Attempt to Develop the Aphrodite Offshore Field
The Government of Cyprus has received a new plan for the development of the Aphrodite offshore field. Partners in the Aphrodite offshore project (“Aphrodite“), American Chevron, British Shell and Israeli NewMed Energy have submitted to the Cabinet of Ministers of Cyprus a new plan for the development of deposits worth …
British Shell Invests in Water Injection at the Vito Field in the Gulf of Mexico
Shell, the largest British oil company, announced that its subsidiary Shell Offshore Inc. has made a final investment decision (FID) on the flooding project at the Vito field in the Gulf of Mexico. The cost of the work was not disclosed. The process of pumping water into the reservoir to …
Sale of Eni and Equinor’s Onshore Assets in Nigeria Is Approved
The Nigerian Petroleum Regulatory Commission (NUPRC) has given the green light for the sale of Eni and Equinor assets to Nigeria’s Oando. The deals had been pending for months as they required approval from the Minister of Petroleum under the recently passed Petroleum Act. Approvals for ExxonMobil’s $1.3 billion sale …
Shell to Be Allowed to Drill Again on South Africa’s Wild Coast Subject to Public Consultation
The South African Court of Appeal has overturned a previous ruling and allowed Shell to explore for oil and gas on South Africa’s environmentally sensitive offshore strip along the pristine Wild Coast. There is a catch: Shell must consult with the public before starting work. In fact, the lack of …
BP Receives US Permit to Extract Gas in Venezuela
British BP and its partner from Trinidad and Tobago, NGC, were able to obtain a license from the US authorities to work in Venezuela. The license was issued for 2 years to explore the Manakin-Cocuina gas asset, Reuters writes, citing the Trinidad Ministry of Energy. It is specified that BP …
Oil and Gas Companies Pull Out of UK North Sea Sector Due to Tax Pressure
Oil and gas companies operating in Britain’s North Sea offshore sector are consolidating and moving overseas as Britain’s windfall tax cuts into profits and the opposition Labor Party threatens to increase taxes if it wins the next general election. This was reported by Reuters. A change in strategy could accelerate …
Exxon and Chevron Are Ahead of European Rivals Due to Production in Guyana and the United States
ExxonMobil and Chevron are increasing production in some production regions, with oil becoming the driver of growth. ExxonMobil and Chevron forecast that their production in the Permian Basin will increase by 10% this year. Exxon also reported that oil production in Guyana in the first quarter increased by 70% compared …
An Oil Field with Reserves of 10 Billion Barrels Was Discovered off the Coast of Namibia
The obtained oil samples from test wells are characterized by low viscosity and low sulfur content. A high-quality oil field with reserves estimated at approximately 10 billion barrels has been discovered offshore Namibia. This was reported by the New Era newspaper, citing data from the company Galp Energia, which is …