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Latest Regional focus Update
Increased running costs, reduced efficiency and cheap oil have contributed...
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Call for 30% tax cut to save North Sea oil
Oil & Gas UK has called for drastic tax cuts to save Britain’s North Sea oil sector as the price of Brent crude continues to tumble.
BP’s Trinidad and Tobago platform greenlit
BP Trinidad and Tobago (bpTT) has been given the go-ahead to build a mostly unmanned platform and accompanying subsea infrastructure 50 miles south-east of the republic’s...
Statoil divests 10% interest in Angola blocks
Statoil ASA has divested 10% interest to Colombia’s state-owned Ecopetrol SA in Blocks 38 and 39 in the Kwanza basin offshore Angola.
TOTAL sells stake in Shah Deniz field
TOTAL has sold its 10% stake in the Shah Deniz field and South Caucasus pipeline to the state-owned Turkish Petroleum (TPAO) for $1.5 billion.
Myanmar awards 20 offshore exploration tenders
Myanmar has awarded tenders to explore for oil and gas in its 20 offshore blocks to international energy companies including Royal Dutch Shell, ConocoPhillips and Total SA.
Petrobras announces seventh Prorefam round
Petrobras president Maria das Graças Silva Foster and the director of exploration and production José Formigli have announced the start of the seventh round of the fleet renewal plan...
Cyprus to develop Mediterranean reserves amid Turkey warnings
Cyprus will further develop potential oil and gas reserves in the east Mediterranean Sea, despite growing tensions with neighbouring country Turkey.
Brazil’s petroleum regulator approves Sinochem purchase
Brazil’s petroleum regulator the National Petroleum Agency has approved the purchase of a 10% interest by Chinese oil company Sinochem in five offshore blocks in the country.