(WO) — Equinor has entered into an agreement to divest 28% working interest in PL037 (Statfjord area) to OKEA. The total consideration is $220 million plus a contingent payment element based on oil and gas prices over a 3-year period. A 28% working interest in PL037 gives 23.9% in Statfjord Unit, 28% in Statfjord Nord, 14% in Statfjord Øst...

(Bloomberg) – Exxon Mobil Corp. is considering resuming a liquefied natural gas project in Mozambique, but with an even bigger capacity than the one it shelved partly because of an Islamic State-linked insurgency. In a statement published Friday in Mozambican newspaper O Pais, the U.S. energy giant called for expressions of interest to desi...

(Bloomberg) – Closely held gas driller Escondido Resources is working with financial advisers to test the market’s appetite for its assets in South Texas, according to people with knowledge of the situation. The Mountain Capital-backed company is having discussions with some larger peers about a potential deal, said the people, who asked...

(Bloomberg) – Goldman Sachs Group Inc., one of the most bullish banks on its outlook for oil, has nudged its forecasts down as worries over the banking sector and the potential for recession outweigh a surge in demand from China. The bank’s analysts now see Brent reaching $94 a barrel for the 12 months ahead, and $97 a barrel in the secon...

(Bloomberg) — Iraq plans to announce within a month a supplementary bidding round to the last one signed for the development of a number of Baghdad’s eastern fields, most prominent of which is the Mansuriya natural gas field, Iraq’s Oil Minister Hayyan Abdul Ghani told an audience at an event in the country’s capital. Abdul Ghani said...

(WO) – Shell plc has published its Energy Transition Progress Report 2022, which shows it has again met its climate targets as part of its energy transition strategy. The report will be put to shareholders for an advisory vote at Shell’s Annual General Meeting on May 23, 2023. “In this report, we show the progress we have made towards b...

(WO) – Kongsberg Digital continues to enhance simulation training by launching its new cloud-based navigation simulation solution. The solution is another advanced simulation technology that Kongsberg Digital offers as an online training application on their digital platform. K-Sim Navigation CLOUD is based on Kongsberg’s well-reputed simulatio...

(WO) – Equinor has again made an oil and gas discovery near the Troll field in the North Sea. This is Equinor's eighth discovery in the area since 2019. The volumes are estimated at between 24 and 84 MMboe, with slightly more oil than gas. Named Heisenberg, the oil and gas discovery well was drilled by the Deepsea Stavanger drilling rig. Eq...

(WO) —There was no shortage of clean energy sessions at CERAWeek by S&P Global 2023. While much of the conference was dominated by oil and gas companies, Thursday’s session, entitled “U.S. offshore wind: Surging power,” informed attendees of the emerging opportunities that offshore wind in the U.S. has to offer. Moderated by S&P Globa...

(Bloomberg) – Oil prices slid and volatility surged as traders fled risk and tried to come to grips with how the biggest U.S. bank collapse since 2008 would reverberate through the economy. Brent, the global benchmark, fell below $80 for the first time since early February as investors fled risk assets and poured into safer bets but recover...