Aramco is negotiating a 10% stake in Chinese petrochemical company Hengli.
The deal strengthens Aramco’s downstream presence in China, a key export market.
Saudi Arabia’s strategy is to secure long-term crude oil supply agreements while also boosting Aramco’s chemical production goals.
Suriname aims to replicate Guyana’s oil success but faces challenges due to delays, commercial concerns, and global climate change efforts.
TotalEnergies and APA plan to make the final investment decision on the Block 58 project by the end of 2024, targeting first oil in 2028.
Suriname’s oil boom could transform the country’s economic fortunes, ending its protracted crisis and lifting it out of poverty.
Galp saw its share price pop 20% on Monday.
Galp says it conducted testing operations at the Mopane-1X well in January and the Mopane-2X well in March, with, “significant light oil columns discovered in high-quality reservoir sands.”.
The company announced that the first phase of its exploration in the Mopane field in offshore Namibia could contain at least 10 billion barrels of oil.
Offshore rig owner Noble Corporation has won two new deals for its Noble Venturer drillship offshore Africa.
There are indications that the Nigerian Upstream Petroleum Regulatory Commission, NUPRC, the regulator of Nigeria’s upstream oil sector, is not responsible for the alleged delay in granting consent to the sale of $1.3 billion of ExxonMobil’s 40 percent stake in Mobil Producing Nigeria Unlimited, MPNU’s assets, to Seplat Energy Plc.
Records show that international oil companies including Chevron, Eni, ExxonMobil and Shell began exploring in Somalia in the 1950s but stopped when the country plunged into civil war in early 1991.
The Ghana Upstream Petroleum Chamber is a non-profit upstream petroleum organisation which aims to achieve long term success of the upstream petroleum industry in Ghana.