The Director of the Media Office at the Tripoli based Libyan Ministry of Oil and Gas, Ahmed Al-Tarhouni, told Libya Herald, that talk of the National Oil Corporation’s (NOC) intention to contract with a coalition of Eni / Adnoc /Total and grant them a 40 percent share of production is a legal violation that should be alerted to.
For the next decade, Latin America is likely to maintain its predominant role in the oil sector. Unlike past years, it can now count on Venezuela’s return to international markets, as the Biden administration has decided to lift the sanctions in force since 2019. This decision is mainly conditioned on the holding of transparent and democratic elections by 2024. This agreement will allow Venezuela to exploit its immense resources, represented by 303 billion barrels and over 5 billion of cubic feet of natural gas, ranking as the largest reserve in the world. Major international companies are already looking to seize this opportunity, including Eni and Repsol, which are currently finalizing the details of a contract with Petróleos de Venezuela Sa (Pdvsa), the state-owned company. As reported by Bloomberg, negotiations are at an advanced stage, and an agreement is expected to be reached by the end of the month.
(MENAFN) A noteworthy transformation has quietly unfolded in Nigeria’s oil industry over the past year, marked by the exodus of international oil companies from various parts of their operations within the country. The latest development came at the end of last month when Norwegian oil company Equinor finalized the sale of its Nigerian entity to the relatively unknown local firm, Chabal Energy. This move signified the conclusion of Equinor’s three-decade-long association with Africa’s largest oil producer.
Eni SpA E and Repsol SA REPYY are engaged in advanced negotiations for new agreements with Venezuela, as the South American nation aims to reclaim its position as a significant global oil producer following the relaxation of U.S. sanctions, per a Bloomberg report.
Eni and the Swiss company Open Energy Platform AG (Open EP) have entered into an agreement to guarantee the flow of gas to Switzerland and Italy even in the event of interruptions or significant reductions in gas flows from Germany. The Six-legged Dog made this known in a press release which specifies that the agreement favors the efficient use of the Swiss Transit gas transport infrastructure in relation to both the flows of gas from France to Italy through Switzerland and the safety of gas supply in Switzerland.
Nigeria is withdrawing civil claims totaling $1.1 billion against energy giant Eni SpA, ending a long battle in Italian courts over allegations of corruption in an oil-field deal.
Altera Infrastructure has been awarded contracts for the redeployment of the FPSO Voyageur Spirit and the shuttle tanker Nordic Brasilia for the Baleine Phase 2 project, located offshore Ivory Coast.
Egypt has awarded four exploration areas to international oil companies just as the North African nation unveiled a new licensing competition.
Eni SPA has signed a deal divesting one of its units in Nigeria to Oando PLC, saying the move is part of efforts to refocus on more profitable assets
Italian oil and gas company Eni has commenced production from the Baleine field offshore Côte d’Ivoire (Ivory Coast).