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U.K. oil explorer Tullow Oil is seeking partners in a bid to acquire a new oil block in Ghana which launched its first oil bidding round in October, the company’s managing director Kweku Awotwi said on Dec. 6.
Despite a promise in his inauguration speech to roll back the energy reform, the 65-year-old president did not rule out inviting more private sector investment in extracting oil from Mexico's untapped deepwater fields in the Gulf of Mexico.
Faroe Petroleum's CEO Stewart said the deal with Equinor had been in the works before DNO launched its takeover offer last month and was not intended to stop the bid.
Brazilian state-controlled oil company Petrobras said it could raise $26.9 billion through asset sales and partnerships by 2023 as part of a new strategic business plan.
DEA Deutsche Erdoel agreed to buy independent Mexican company Sierra Oil and Gas at a time of growing uncertainty over the private sector's role in Mexico's oil industry.
Chevron has decided to launch the sale of its stake in Azerbaijan's largest oil field as well as the Baku-Tbilisi-Ceyhan pipeline, the San Ramon, Calif.-based company said in a statement.
Following the closing the GoM JV with Petrobras, Murphy Oil also raised its full-year capex outlook and expects to use some of the cash flow to accelerate activity in the Eagle Ford.
Lopez Obrador has pledged to boost investment in state-run oil company Pemex and plans to start building a new oil refinery next year in his home state of Tabasco.
The transaction, which has an effective date of Jan. 1, 2017, includes an initial consideration of $958 million, interest of $54 million and additional payments of up to $285 million between 2018-2025, subject to gas price and production, according to the release.
Completion of the deal marks Shell’s exit from its 44.56% operated interest in the Draugen Field and 12% non-operated interest in the Gjøa Field.
South Africa will relax a moratorium on gas and oil exploration licenses implemented earlier this year to allow E&P applications already in the system to be granted, a government minister said Nov. 29.
President Energy said Nov. 28 it has completed the acquisition of its interests in the Las Bases and Puesto Prado Concessions, Rio Negro Province, Argentina (President operator and 90%, EDHIPSA 10%).