Japex to invest in US tight-oil project as operator
A senior executive at Japan Petroleum Exploration (Japex), said that the company is interested in investing in the U.S. tight gas and oil sector with a view to becoming an operator. Yutaka Nishimura said at a press conference that Japex is exploring investment opportunities for the U.S. tight gas and oil sectors. We are looking to become operators. He added that Japan's second largest oil and gas company, which has invested in U.S.
Shell and Equinor face off against UK North Sea oil, gas projects
Shell and Equinor urged on Tuesday an Scottish court to support Britain's approval of the development two vast North Sea gas and oil fields as environmental activists attempted to block these projects. Shell is fighting Greenpeace's legal challenge at the Court of Session of Edinburgh regarding Britain's approval of the Jackdaw Gas Field in 2022. Equinor, a Norwegian oil company, and Ithaca Energy, its partner in the case are opposing the decision of 2023 to approve the planned Rosebank Oilfield.
Ibama, Brazil's Ibama, seeks information on Petrobras Amazon project and rejects suggestions to kill it
Documents seen by on Tuesday showed that the head of Brazil's environment agency Ibama decided not to reject a Petrobras request to drill near Amazon River, even though experts at the agency recommended the request be rejected. According to regulatory documents, Ibama's Rodrigo Agostinho asked Petrobras instead for more details regarding Petrobras’ requested offshore drilling licence for the Foz de Amazonas region off the coast Amapa state. Ibama blocked Petrobras last year from drilling the well.
Arbitration awards Kosmos Energy Senegal LNG project to BP, as the sole purchaser
Kosmos Energy announced on Tuesday that a Paris arbitrator ruled in favor of BP, preventing Kosmos to sell liquefied gas from the Greater Tortue project off Senegal and Mauritania. LNG is a key part of BP's energy transition strategy. Energy major BP has established a significant LNG pipeline across the globe, including Sub-Saharan Africa. Nigeria, Angola Cameroon, and Equatorial Guinea are already shipping significant volumes. The International Chamber of Commerce was asked to arbitrate a dispute between Kosmos Energy (a U.S.
Petrobras' focus remains Brazil despite Africa plans, director says
Petrobras, the state-owned oil company in Brazil, has its main focus on its own country. Its director of exploration, production, said this Thursday. He added that Brazil remained a top priority, even though it plans to expand into Africa. Petrobras, which is looking to replenish its oil reserves in the future, has publicly expressed interest in expanding their oil fields in Africa. This move comes after years of the company focusing on Brazil.
APPEC-India ONGC Videsh focuses on stakes in oil and gas assets amid energy transformation
The head of finance at ONGC Videsh said that the company is focusing on acquiring stakes overseas in oil and gas producing companies, as the shift to renewable energy will likely reduce the demand for conventional fuels. We are not interested in long-term projects, due to the energy transition. Anupam Agarwal, at the APPEC Conference, said that exploration was not a top priority for the moment. ONGC Videsh is the overseas investment arm for the top oil and natural gas exploration company in the country, Oil and Natural Gas Corp.
British Business – Sept 10,
These are the most popular stories in the British business pages. These stories have not been verified and we cannot vouch for the accuracy of these reports. BP engineers will now be required to take faster decisions based on AI-generated information about oil and natural gas exploration, following a recent agreement with Palantir Technologies. Hostmore, a British restaurant operator, announced on Monday that it had dropped its plans to purchase pub chain TGI Fridays following the removal of Hostmore as manager of TGIF Funding.
Malaysia won't stop South China Sea exploration, despite China protests says PM
Anwar Ibrahim, Malaysia's Prime Minister, said that the country would not stop oil and gas exploration on the South China Sea in spite of Beijing's claims that Malaysia had infringed on its territory. Anwar, who is currently in Russia on an official visit, stated that Malaysia's exploration was within its own territory, and it wasn't meant to be provocative towards China. Anwar stated in a Vladivostok televised news conference that "we will of course have to operate within our waters in order to secure an economic advantage.
Minister: Russia welcomes foreign investments in geological exploration
Alexander Kozlov, Minister for Natural Resources and Ecology in Russia, said that the country would be happy to welcome foreign investors who wish to participate in its geological surveys. After the outbreak of the conflict in Ukraine, in February 2022, Russia experienced a mass exodus. Moscow has tried to strengthen cooperation with nations who did not support the sanctions in relation to the conflict such as energy-consuming China and India.
Iraq wants U.S. gas investment as part of new energy-independence projects
He announced that Iraq will offer 10 gas exploration block to U.S. firms during a visit to the United States by Oil Minister Hayan Abdul-Ghani. Baghdad is trying to bring U.S. investors into its energy sector after previous rounds of licensing where Chinese firms dominated the available fields. Iraqi state-run media announced that the 10 gas blocks left unclaimed after six licensing rounds will be offered in a fresh bidding round. This comes at a time when Iraq is looking to boost its domestic gas production.
Shell to make large cuts in its oil exploration division: sources
Shell will cut its oil and natural gas exploration and production workforce by 20%, according to company sources. CEO Wael Sawan is extending his cost-saving efforts to this highly profitable division following the deep cuts made in renewables and low carbon businesses. Sources said that the restructuring of the exploration, wells development, and subsurface units would result in hundreds of job losses around the globe, with the greatest impact in offices in Houston, The Hague, and Britain.
Sources say Shell plans to make large cuts in its oil exploration division.
Shell will cut its oil and natural gas exploration and production workforce by 20%, according to company sources. CEO Wael Sawan is extending his cost-saving efforts to this highly profitable division following the deep cuts made in renewable energy and low-carbon businesses. Sources say that the restructuring of the exploration, wells development, and subsurface units is expected to result in hundreds of job losses around the globe, but will be most felt in Britain and The Netherlands.
Shell to make large cuts in its oil exploration division: sources
Shell will cut its oil and natural gas exploration and production workforce by 20%, according to company sources. CEO Wael Sawan is extending his cost-saving efforts to this highly profitable division following the deep cuts made in renewables and low carbon businesses. Sources say that the restructuring of the exploration, wells development, and subsurface units is expected to result in hundreds of job losses around the globe, but will be most felt in Britain and The Netherlands.
New Zealand passes law to reverse oil and gas exploration ban
New Zealand announced on Monday that it will pass laws before the end of the year to reverse an offshore oil and natural gas exploration ban and to take urgent steps to eliminate regulatory hurdles for importing liquefied gas (LNG), amid energy shortages. The right-of centre government wants to attract investment into the oil and gas industry in the country. This law will end the ban on exploration that has been in place since 2018 outside of onshore Taranaki.
UK faces legal action for new North Sea oil and Gas Licences
A marine conservation group is challenging in court the decision of Britain to issue new oil and natural gas exploration licenses. The organization claims that ministers failed to take into account the impact of these licences on marine life. Oceana UK has filed a lawsuit against 31 licenses granted by the previous British government to the North Sea Transition Authority in May of this year, as part of its latest round for oil and gas licensing. A licence for exploration does not always lead to a producing field.
Santos Australia misses out on profit due to production costs and lower prices
Santos, an Australian oil and natural gas exploration company, posted a larger-than-expected drop in its first-half profits on Wednesday. This was due to lower realized prices and higher production cost amid a weak demand from China, the top consumer. The shares of Santos fell as a result. Price fluctuations are unpredictable due to supply chain disruptions caused by geopolitical issues and a weakening of demand in China as a result of weakened economic recovery.
Protecting Offshore Energy Sources via USV
When most people discuss energy sources such as fossil fuel and green energy, it is from an “either-or” perspective. Some favor the former while others advocate for the latter. However, what is often lost in the arguments on both sides is that regardless of the type of energy being extracted or generated, those platforms that are offshore, especially oil rigs, oil and gas pipelines, and wind farms, are incredibly vulnerable to anyone who wants to attack these sources in wartime…
Denmark Might Not Reach Its 2030 Emissions Reduction Goal as It 'Relies on Unproven Tech'
Denmark risks not reaching its goal to cut carbon emissions by 70% by 2030 because it is too reliant on unproven technology, an independent council monitoring the effort said on Friday.The Nordic country in 2020 set one of the most ambitious and legally binding climate targets in the world - cutting CO2 emissions by 70% by 2030 compared to 1990 levels, but its government has yet to come up with a detailed plan for how to achieve that target."The government has so to some extent picked the low-hanging fruit…
Trump Administration Rushing to Sell Arctic Oil Leases
The Trump administration on Monday issued a request to energy companies to identify what specific land areas in the Arctic National Wildlife Refuge should be offered for sale, according to a government document.The Department of Interior said the nominations and any comments on the land tracts must be received 30 days after the document is published in the Federal Register. The “call for nominations” is scheduled to be published on Tuesday…
Offshore Oil Firm Eco Atlantic Launches Renewables Division
Eco Atlantic, an oil company with offshore oil and gas acreage in Guyana and Namibia, said Tuesday it had formed a new solar energy-focused company Eco Atlantic Renewables, citing, in part, a lack of oil and gas acquisition opportunities.Formed with Nepcoe Capital Partners Ltd. ("Nepcoe"), a renewable energy developer and investment company, the aim of Eco Atlantic Renewables is to source, acquire and develop an exclusive pipeline of potential high yield solar projects. Eco (Atlantic) Oil & Gas Ltd.
