WoodMac on Medco Energi's Potential Takeover of Ophir Energy
Wood Mackenzie Research Director, Angus Rodger, provides insight on a of UK-listed Ophir Energy by Indonesia's Medco Energi."On the first day of 2019, Ophir announced it was in talks with Indonesia's Medco Energi regarding a cash takeover. No amount or other details have yet been released…
Panoro Completes OMV Tunisia Acquisition
London-based international independent oil and gas company Panoro Energy ASA announced Friday it has completed its $65 million acquisition of OMV Tunisia Upstream GmbH from Vienna-based integrated oil and gas company OMV.Panoro Tunisia Production AS (PTP…
Panoro Energy Buys OMV Tunisia
London-based E&P company Panoro Energy said its Norwegian subsidiary Panoro Tunisia Production has reached an agreement with OMV Exploration & Production GmbH to acquire 100 percent of the shares of OMV Tunisia Upstream GmbH.According to the Oslo-listed company…
Xodus Delivers Tunisian Decommissioning study for TPS
Xodus Group has delivered a decommissioning and abandonment study for wells, surface and subsea facilities in Tunisia on behalf of Thyna Petroleum Services (TPS). Xodus developed a decommissioning cost estimate for four onshore fields, one offshore field and two onshore storage and processing sites.
Bibby Offshore Scores Contract Hat-Trick with Supermajor
Subsea services provider Bibby Offshore announced three individual multimillion dollar contract wins with an oil and gas supermajor. The initial contract will see Bibby Offshore complete riser replacement works including a production/test riser and riser…
Tunisia to invest $5B in Dnergy Projects
Tunisia will invest 12 billion dinars ($5 billion) in electricity and other energy projects from 2018 to 2020, a government statement said on Thursday. The government also said it was planning a new airport close to the capital. The energy projects include…
UN Resolution Targets Libyan Fuel Smugglers
The U.N. Security Council has extended sanctions on illegal oil exports from Libya to cover refined petroleum products as well, in a bid to stem rampant smuggling of subsidised fuel by sea. Imported fuel that is priced lower for the domestic market is commonly smuggled by ship from western Libya to Malta…
Shell to Sell Tunisian Gas Assets
Royal Dutch Shell is seeking to sell its gas fields in Tunisia for some $500 million, sources said, as the Anglo-Dutch company pushes forward with its vast disposal programme. The Tunisian assets, accounting for some 65 percent of the North African country's gas production…
Reopened Libyan Ports Hope Foreign Staff Will Return
Ports still operating well below capacity; infrastructure damaged by conflict, neglect. Guards and officials at major ports in Libya's eastern Oil Crescent say they are hoping foreign workers will soon return as they struggle to build on output gains with meagre resources.
CMR Group Makes Two Senior Appointments
CMR Group, the control instrumentation and electrical engineering specialist, has announced two senior appointments as it continues to develop and expand its global operations. Jean-François Michel has joined as vice-president in charge of production, supply chain and purchasing…
Algeria plans Bank Privatisations as oil money dries up
Algeria plans to allow its dominant state banks to list on the local stock exchange to help develop its financial markets and diversify sources of funding after the oil price slide, a senior financial official said. The plan will open the door for foreign investors to acquire controlling stakes in banks…
Petrofac Tells Tunisia it Starting Shutdown Over Protests
British oil and gas industry services company Petrofac has told Tunisia's government it has started to shut down its local operations after months of protests disrupted gas output, a government official and a Petrofac source said on Wednesday. Petrofac…
Shell's U.S Deal to Unlock Global Asset Sales
Shell lines up large North Sea asset sale; Gulf of Mexico deal sets deal value at $60/bbl. Royal Dutch Shell's first oil field sale after its $54 billion BG Group acquisition bodes well for its disposal talks in the North Sea, Gabon and New Zealand, according to sources…
Shell's US Deal to Unlock Global Oil Asset Disposals
The $425 million deal in the Gulf of Mexico is welcome news for the Anglo-Dutch oil and gas giant which has struggled to kick off its plan to dispose of $30 billion of assets by 2018 or so in order to pay for the February deal and maintain a generous dividend policy amid soaring debt.
Turkey Sets Import Tax on Thermal Coal
Turkey imposed a tax this week on imports of thermal coal from Colombia, Russia and other major exporters, for use in power generation, to support domestic coal production. The Turkish cabinet decided to impose the tax of $15/tonne on imports from the United States…
OMV Will Keep Refineries Out of Asset Swap
Austrian energy company OMV will exclude its refineries from an asset swap being negotiated with Russia's Gazprom, its chief executive told staff at its main refinery on Wednesday, a person familiar with the matter said. OMV and Gazprom have for months…
Hit by Oil Price Drop, Algeria Turns to China for Funds
Algeria is turning to China to finance several infrastructure projects, including a new $3.2 billion port, as the North African OPEC member looks for ways to weather the collapse in global oil prices. Algeria, where oil and gas production account for 60 percent of the state budget…
Shell's Profits Impacted by Oil Price
Shell Q4 core earnings expected at $1.6-1.9 billion. Royal Dutch Shell expects to report a near halving in profits in the last three months of 2015 following the further slide in oil prices, it said on Wednesday, a week before shareholders meet to vote on its $47 billion deal to take over rival BG Group.
Saudi Execution Exposes Kingdom's Internal Conflicts
Saudi Arabia's execution of Shi'ite cleric Sheikh Nimr al-Nimr has exposed the dangerous political, religious and socio-economic fault lines which run through the kingdom and the Gulf. News of the execution sparked some unrest among Shi'ite communities…
Demand for Conceptual Engineering Services Climbs
Press release - Independent energy consultancy ADIL says it has recorded a 100 percent increase in demand for its Accelerated Conceptual Engineering (ACE) services as acquisition, merger and divestment activity by UKCS operators ramps up in the lower oil price environment.
