ExxonMobil’s $1.28 billion asset sale to Seplat Energy in Nigeria is on the verge of approval, with President Bola Ahmed Tinubu affirming the government’s commitment to free enterprise and streamlined regulatory processes. The deal, which faced initial challenges from the state oil company NNPC, signals a positive shift for Nigeria’s upstream petroleum sector and potentially unlocks significant investments from ExxonMobil in the country’s deep-water operations.
MCF Energy Ltd. is pleased to announce the planned well testing program for the Welchau-1 discovery in Upper Austria. The company holds a 25% economic interest in the Welchau Exploration Area, where the Welchau-1 well intersected three promising carbonate reservoirs. Testing is scheduled to commence on October 15, 2024, aiming to confirm hydrocarbon characteristics, determine well productivity, and estimate recoverable resource volumes.
Vice President Kamala Harris’s stance on fracking has become a central issue in the 2024 election, with oil and gas industry leaders demanding clarity on her position. Her shift towards supporting fracking has been met with skepticism, with industry experts highlighting the importance of a comprehensive energy policy plan.
Kimray, a leading energy control solutions provider, and Kathairos, an innovator in emissions elimination technology, have joined forces to offer scalable zero-emissions solutions for upstream oil and gas facilities. This partnership leverages Kathairos’ liquid nitrogen-based technology to eliminate methane emissions while integrating seamlessly with Kimray’s existing pneumatic control systems, providing a comprehensive and effective solution for the energy industry.
Draganfly Inc. and Nightingale Security have teamed up to provide a fully automated Unmanned Aerial System (UAS) solution for infrastructure monitoring to a major oil and gas company. This innovative project will utilize advanced remote sensing technology to enhance operational efficiency and safety within the industry.
Equinor ASA, a Norwegian energy giant, announced a new gas and condensate discovery in the Norwegian Sea, but its shares dipped premarket. The company’s ambitious exploration plans and investment in oil and gas projects in Norway, coupled with its recent withdrawal from Vietnam’s offshore wind sector, are making headlines.
Exxon Mobil has reportedly withdrawn from the bidding to acquire a stake in a major oil discovery off the coast of Namibia. This comes after over a dozen oil companies showed interest in the discovery, estimated to hold billions of barrels of oil and gas. While the reasons for Exxon’s withdrawal remain unclear, other companies are still vying for the stake, highlighting the continued interest in expanding oil exploration in Namibia.
Talos Energy (TALO) shares are trading lower despite the company’s announcement of a successful oil and gas discovery at the Ewing Bank 953 well. Talos is also participating in the Sebastian prospect, which is currently being drilled. Despite these positive developments, TALO stock has seen a significant decline over the past year.
MiQ, a global leader in emissions certification, has updated its Equivalency Table to include satellite monitoring for methane emissions, allowing oil and gas producers to utilize cutting-edge technology in their emissions management plans. This integration provides a standardized framework for utilizing satellite data, contributing to more accurate and efficient emissions reduction efforts.
Shell plc is planning to reduce its oil and gas exploration and development workforce by 20% as part of a larger restructuring effort aimed at reducing emissions and costs. This move follows significant cuts in the company’s renewables and low-carbon businesses and will result in hundreds of job losses globally.
