(Bloomberg) — Nigeria’s Senate will investigate Shell Plc’s historic license renewals in the West African state to determine whether they were extended unlawfully and cost the government up to $200 million. Senate President Ahmad Lawan formed a committee on Wednesday to probe the oil major’s permits that expired in 1989 and 2019, accordi...
(Bloomberg) — Russia’s Rosneft PJSC is proceeding with its flagship Vostok Oil project in the Arctic, Chief Executive Officer Igor Sechin said, just over a week after a key partner announced it’s exiting the development over the invasion of Ukraine. “The project continues to live and develop as planned, we are overcoming inevitable diffi...
(Bloomberg) — Billionaire Harold Hamm is poised to throw off the shackles of shareholder discipline so that Continental Resources Inc. can maximize windfall profits. The wildcatter who pioneered what was once the premier US shale-oil field moved Tuesday to end his 15-year flirtation with public ownership. By taking private the company he and h...
The North Sea Transition Authority (NSTA) is launched the UK’s first-ever carbon storage licensing round with 13 areas of potential available. The new carbon storage areas, alongside the six licenses which have been issued previously, could have the ability to make a significant contribution towards the aim of storing 20-30 million...
(Bloomberg) — Billionaire Harold Hamm may trigger a bidding war for Continental Resources Inc. with his $4.3 billion takeover offer for the shale powerhouse he founded. Hamm’s all-cash offer of $70 for each share he doesn’t already own represents an 8.5% premium to Monday’s closing price and will be evaluated by Continental’s board of...
(Bloomberg) — Shell Plc is set to receive two final offers this week for its onshore oil and gas fields in Nigeria, according to people with knowledge of the matter. Local companies Heirs Oil and Gas Ltd., and ND Western Ltd. are competing to buy Shell’s 30% interest in the joint venture, which operates assets in the Niger Delta and nea...
(Bloomberg) — The owners of Laredo Energy VI LP, a gas driller focused in the Eagle Ford Shale in South Texas, are considering a sale of the company worth up to $1 billion, according to people with knowledge of the situation. Houston-based Laredo leases 70,000 acres in a slice of the Eagle Ford just north of the Mexican border known as the dry...
(WO) — North and Standard Club have received approval to merge the organizations after separate member meetings resoundingly back plans to create a market-leading global marine insurer and one of the largest providers of mutual cover in the maritime industries. The merger will create one of the largest providers of mutual cover in the maritime...
(WO) — In May 2022, eight significant amendments were agreed to update the landmark Maritime Labour Convention 2006 (MLC), including making onboard crew connectivity a requirement for ship owners. The new requirements come at a time when seafarer welfare is under increasing scrutiny from within and outside the shipping industry. As the world l...
(Bloomberg) —The U.S. may allow more sanctioned Iranian oil onto global markets even without a revival of the 2015 nuclear accord, according to the biggest independent crude trader. While a new agreement would limit Iran’s atomic activities and ease US sanctions on its energy exports, talks between Tehran and world powers have stalled since...