Africa
CEO: Baker Hughes Lands $3.5B in New Contracts in ‘Age of Gas’
Baker Hughes revised down its global upstream spending outlook for the year due to “North American softness” with oil activity recovery in second half unlikely to materialize, President and CEO Lorenzo Simonelli said.
Despite Slowing NAM Activity, Weatherford Declares First-ever Dividend
Weatherford reported a softer North America market but strong overseas growth, leading the company’s board to authorize its first share buyback program and first quarterly dividend.
Air Liquide Closes African Divestitures to Adenia Partners
Air Liquide’s transaction with Adenia Partners represents total annual sales of approximately 60 million euros (US$65.12 million), less than 10% of Air Liquide’s sales in Africa.
Energy Transition in Motion (Week of July 19, 2024)
Here is a look at some of this week’s renewable energy news, including the launch of the California hydrogen hub.
VAALCO Reports Increased Reserves After Svenska Deal
VAALCO acquired Swedish E&P Svenska’s 27.39% non-operated working interest in the deepwater Baobab Field in Block CI-40, offshore Côte d’Ivoire.
OPEC+ Brings Oil Overproduction Under Heel—Rystad
After years of noncompliance and underreporting of actual crude production, many OPEC+ members are voluntarily reducing output beyond set goals, according to analysis by Rystad Energy.
E&P Highlights: July 10, 2024
Here’s a roundup of the latest E&P headlines including TotalEnergies exiting South Africa to focus on opportunities in Namibia.
TotalEnergies Acquires License Offshore São Tomé and Príncipe
TotalEnergies will assume operatorship and a majority stake in the license offshore Africa.
E&P Highlights: June 24, 2024
Here’s a roundup of the latest E&P headlines, including TotalEnergies working with Nigeria to reach FID on the Ubeta gas field and Chevron signing production sharing contracts for two blocks offshore Equatorial Guinea.
TGS to License Tanzania’s Offshore Subsurface Data
TGS, in an agreement with Tanzania’s Petroleum Upstream Regulatory Authority, reserves the right to license all of the country’s offshore data, acquire future seismic data and reprocess existing data.