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McDermott files for bankruptcy protection
Engineering and construction firm McDermott International has filed for Chapter 11 bankruptcy protection after reaching an agreement with its creditors.
Services firms’ quarterly results illustrate industry woes
Leading oilfield services firms Schlumberger, Halliburton and Baker Hughes have all reported their quarterly and full-year results, which contain some positives, but nonetheless illustrate the difficulties the energy industry is facing.
Private equity pair collect final bids for North Sea venture
M&NP pipeline’s owners pledge $152mn to cover mishaps
The consortium that owns the Maritimes & Northeast Pipeline has pledged $152mn to cover any leaks or other mishaps that may occur on the natural gas project.
Polish refiner PKN to ramp up Saudi oil purchases
Egdon secures farm-in deal with Shell
Legal victory for Trans Mountain, but further battles remain
Canada’s top court has dismissed an attempt by British Columbia to regulate what can be transported on the Trans Mountain pipeline through the province’s territory.
Nigeria files new charges in relation to OPL 245 payments
Nigeria’s federal government has filed 42 new charges against three individuals and four corporations in connection with allegations of fraud in the sale of OPL 245, an offshore oilfield, by Malabu Oil & Gas in 2011.
UK makes green play in Africa
The UK is to continue providing development financing for African countries that extract and use oil and gas in cleaner ways, despite UK Prime Minister Boris Johnson’s announcement that his government would no longer support coal mining anywhere.
Eni, partners bring Agogo field on stream offshore Angola
Italy’s Eni has begun extracting crude oil from Agogo, a deepwater field that lies within Block 15/06 offshore Angola.
INTERVIEW: Ukraine gas tariffs stay low, energy sector outlook improves
After signing off on a new gas transit deal in the last days of last year, Ukrainian authorities backed off their threat to more than triple gas tariffs for domestic producers in an effort to keep the pipeline system from going bankrupt.
FAR secures $300mn credit to cover its share of Sangomar costs
Australia’s FAR has secured funding to cover its share of development costs at Sangomar, an oil-bearing block located offshore Senegal.
Norwegian oil output hits nine-year high in December
Global green spending rises 1% in 2019
Global investment in renewable generation rose 1% in 2019 to $282bn, with the Chinese market falling and US spending reaching record levels.
Risks for Russian gas majors as 2020 opens with low gas prices
Romania’s energy market regulator regains control after previous government’s interventions
ADB supports Maldives solar hybrid with $55mn grant
The Asian Development Bank (ADB) has provided $55mn of support to the Maldives to build solar-hybrid battery systems on 48 islands in a bid to reduce diesel consumption.
Global Infrastructure Partners eyes joint bid in Brazilian refinery sale
US-based Global Infrastructure Partners (GIP) is reportedly planning to team up with Brazil’s Raízen to participate in a privatisation sale covering four large refineries owned by the national oil company (NOC), Petrobras.
Total and partners postpone spudding of next well offshore South Africa
France’s Total has pushed back the start date for drilling work on a new well at Block 11B/12B offshore South Africa.
Uganda still in talks with Tullow, Total, CNOOC on Block 3A
Uganda is still in talks with foreign investors on the planned development of Block 3A, which includes the Kingfisher and Tilepa oilfields, but has not yet resolved the tax disputes that put the project on hold last year.
Continued conflict in Libya hits oil sector
Fighting between GNA and LNA forces in Libya has led to falling oil production, declaration of force majeure.
Angola wraps up 2019 bidding round by awarding three blocks
Angola's National Agency for Oil, Gas and Biofuels (ANPG) has chosen a winner in auctions for three of the 10 blocks involved in the 2019 bidding round.
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