Upstream

ExxonMobil makes oil discovery in Equatorial Guinea Block EG-06

December 12, 2017 | Equitorial Guinea, Exploration / Discoveries

London, UK | – The Equatorial Guinea Ministry of Mines and Hydrocarbons announced that American multinational oil and gas corporation, ExxonMobil has struck oil with its Avestruz-1 well in Block EG-06. The government of Equatorial Guinea has partnered with ExxonMobil in Block EG-06 through a 20-percent stake held by Equatorial Guinea national oil company GEPetrol. The well was drilled in October 2017. The operator is now assessing potential commerciality. Avestruz-1 is located approximately 160 kilometres offshore Malabo in an exploration area adjacent to ExxonMobil’s Zafiro …

Protesters say they briefly shut three ENI oil wells in Nigeria

December 12, 2017 | Company Operations, Nigeria, Politics & Social Unrest

Yenogoa, Nigeria | –  Protesters briefly shut three oil wells owned by Italy’s ENI in the Niger Delta region of south-south Nigeria over the weekend and could try do so again, a community leader said on Tuesday. Timiondi Fabofighe, chairman of the Ikebiri Community Development Committee (CDC), said the protests, against the presence of multinational oil companies in Nigeria’s oil production heartland, took place at ENI’s subsidiary Agip in Bayelsa state. ENI declined to comment. It was not immediately clear if the protests had affected …

Shell helped Nigeria’s military to commit human rights abuses – Amnesty

November 28, 2017 | Health, Safety & Environment, Nigeria, Politics & Social Unrest

London, UK | – Oil giant Shell should be investigated for alleged complicity in” horrific crimes” committed by the military in Nigeria in the 1990s, Amnesty International has said. Shell encouraged a crackdown, which led to killings and the burning of villages in the oil-producing Ogoniland region of Nigeria’s restive Niger Delta, the rights group added. The Anglo-Dutch oil supermajor said the allegations were “without merit”. The region was hit by protests over oil pollution and poverty in the 1990s. It led to a massive …

Statoil plans to drill five to six wells in Arctic Barents Sea in 2018

November 28, 2017 | Drilling / Completions, Exploration / Discoveries, North Sea & Western Europe

London, UK | – Norwegian multinational oil and gas company and the world’s largest offshore operator, Statoil will continue to drill for oil in the Arctic Barents Sea next year even though its 2017 campaign was mostly disappointing, the company’s head of exploration told Reuters on Nov. 28. Statoil plans to drill between 25 and 30 wells in Norwegian waters in 2018. Of these wells five or six are expected in the Barents and the rest will be split between the North Sea and the …

Total strikes first oil from offshore Brazilian mega-field

November 28, 2017 | Deepwater, Rigs & Vessels, South America

London, UK | – French multinational oil giant, Total SA, have announce the first oil from the Libra mega-field, located 180 kilometres of Rio de Janeiro. The floating production, storage and offloading (FPSO) unit Pionerio de Libra is located in unltra-deep water and has a 50,000 barrel capacity. The start-up phase of production will focus on generating initial revenue and capturing technical data to streamline the development stage. The Libra development will continue to search for further investment  in the Libra 1 FSPO, which has …

South Africa’s Sasol signs $3.9 billion credit facility

November 28, 2017 | Budget & Investment, Company Operations, South Africa

Johannesburg, South Africa | – South Africa’s multinational energy and chemicals group Sasol has signed a $3.9 billion five-year credit facility. According to a note to shareholders issued on Thursday, the initial target was $3bn but due to oversubscription, it increased to $3.9bn. The revolving credit facility includes two further extension options of one year each. Chief financial officer Paul Victor, who was speaking at Sasol’s Capital Markets Day in Sandton on Thursday, said the credit facility would help with liquidity and refining the group’s debt. …

Sasol dumps $13-$15 billion U.S. project, to exit Canadian shale

November 28, 2017 | Company Operations, Petrochemicals, South Africa

Johannesburg, South Africa |  – South Africa’s  integrated energy and petrochemical company, Sasol is pulling out of all of its gas-to-liquids (GTL) greenfield projects including one in Louisiana project expected to cost $13 billion to $15 billion, the company said on Thursday. Walking away from the project, which would have been the biggest investment abroad by a South African company, underscores the headwinds the industry is facing in a volatile market with generally depressed prices. “While our current GTL assets are generating good returns and …

Shell partners with automakers on fast-charging stations for battery vehicles

November 27, 2017 | Company Operations, Products, Services & Techniques

London, UK – Royal Dutch Shell, one of the world’s largest multinational Oil and Gas Company has partnered with top carmakers to deploy ultra-fast chargers on Europe’s highways, stealing a march on rivals in the race to remove one of the biggest obstacles facing the electric car sector. Shell’s agreement with IONITY – a joint venture between BMW, Daimler, Ford, and Volkswagen – will initially bring high-powered docks to 80 highway sites in 2019, it said in a statement. Power giants including France’s Engie and …