Senegal’s newly elected President Bassirou Diomaye Faye has stated that he would conduct a thorough audit of Senegal’s oil , gas and mining sectors.
BP said on Tuesday it expects first-quarter upstream production of both oil and gas as well as low-carbon energy to be higher than the previous three months.
All major oil and gas companies plan fossil fuel expansion incompatible with limiting warming to 1.5 degrees Celsius, a new report said Wednesday.
Geopolitics and supply chain dynamics will dictate the oil and gas outlook in 2024.
For 2023, the supermajors booked smaller profits, although in absolute terms, the figures were yet again quite impressive.
Several oil majors beat expectations despite reporting smaller overall profits in 2023 compared to 2022.
The combined profits of Big Oil came in at around $107.5 billion last year
The floating liquefied natural gas (FLNG) vessel for a Mauritania-Senegal project of BP PLC has arrived at its destination on the maritime border of the two countries, the British energy giant said.
UK oil and gas major BP has plans to make a $1.5bn investment in Egypt aimed at development and exploration activities.
The move was disclosed following a meeting between Egyptian President Abdel-Fattah al-Sisi and bp CEO Murray Auchincloss during the Egypt Petroleum Show, EGYPS 2024, in Cairo.
The last thing Senegal needed in its long-drawn-out effort to capitalize on large oil and gas finds off its coast was political turmoil.
The survey will cover 740 square kilometers focusing on Balakhany and Fasila oil reservoirs, using specialized vessels for a detailed analysis.
Production from the ACG oil field has significantly declined since its peak in 2010, prompting this initiative to better manage and potentially increase remaining reserves.
The new seismic survey, complemented by BP’s ongoing projects like the Azeri Central East platform, aims to sustain Azerbaijan’s oil production and revenue in the coming years.
Bluebell Capital Partners criticized BP’s plan to reduce oil and gas production by 25% by 2030, labeling it an “irrational strategy”.
The investor group urged BP to cut funding for bioenergy, hydrogen, and renewable projects, claiming the company has “no right to win” in these markets.
Despite pressure, BP’s new leadership, under Murray Auchincloss, plans to continue with the existing renewable energy strategy.