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Tag: Exploration & Production
Eni

Eni to cut capex by 25% this year to temper the impact of coronavirus

Posted: March 26, 2020 at 1:51 pm   /   Oil & Gas

Italian energy group Eni will cut its capital spending by a quarter this year, and more next, as it moves to mitigate the impact from falling commodity prices because of the coronavirus emergency. In a statement on Wednesday, the state-controlled energy major said it would cut its planned capex by about 2 billion euros ($2.2 […]

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Total

Total to slash over $2.5 billion from its E&P business as oil crisis bites

Posted: March 24, 2020 at 3:39 pm   /   Oil & Gas

In an effort to alleviate the concequences of the recent oil price plunge, French oil major Total has revealed its plan to reduce the capex for 2020 by more than $3 billion and save about $800 million in operating costs compared to 2019. Total will also suspend its buyback program.  Patrick Pouyanné, Chairman & CEO […]

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GHP-Farm_out

GHP Exploration farming out 50% of its share in West Gebel El Zeit Concession

Posted: March 24, 2020 at 3:36 pm   /   Oil & Gas

GHP Exploration is farming out a 50% working interest in its West Gebel El Zeit concession, situated in the prolific Gulf of Suez basin. GHP Exploration is announcing an opportunity for a farm-in (up to 50%) into its attractive and prospective – West Gebel El Zeit concession, Egypt. The concession is adjacent to producing oilfields […]

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Shell

Shell slashes capital expenditure, reduces operating costs

Posted: March 23, 2020 at 2:27 pm   /   Oil & Gas

Operator will take further strategic decisions as necessary due to coronavirus: Anglo-Dutch supermajor Shell is slashing operating costs, reducing planned capital expenditure by at least 20% this year alongside “material reductions in working capital” as the company strives to remain buoyant. Shell acts to reinforce business resilience and financial strength As the COVID-19 virus spreads […]

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Wintershall Dea Mario Mehren

Wintershall Dea CEO Mario Mehren: “We are in controlled emergency state”

Posted: March 22, 2020 at 3:06 pm   /   Oil & Gas

Wintershall Dea CEO Mario Mehren Interview with German Handelsblatt Newspaper. Mr Mehren, the corona crisis is keeping the world on tenterhooks, public life in Germany is practically at a stand- still, and Wintershall Dea has also moved its Annual Press Conference online. How do you feel about the situation? Mehren: Germany is closing schools, shops […]

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Egypt-South-Disouq SDX

SDX commences drilling of Sohbi well at South Disouq onshore Egypt

Posted: March 20, 2020 at 7:23 pm   /   Oil & Gas

SDX Energy, the MENA-focused oil and gas company, has provided an update on its drilling operations in Egypt. The SD-12X (Sohbi) well at South Disouq in Egypt (SDX 55% working interest, 100% working interest in this well) has commenced drilling operations. Sohbi is expected to a reach its targeted depth of approx. 2,300 metres in […]

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Wintershall Dea

Wintershall Dea Annual Press Conference 2020: Video Statement

Posted: March 18, 2020 at 6:22 pm   /   Oil & Gas

Wintershall Dea’s CEO Mario Mehren reviews the year 2019 and looks ahead to 2020. (Source: Wintershall Dea)

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WintershallDea CEO-Mehren

Wintershall Dea announces Record Production in 2019 at its Annual Press Conference

Posted: March 18, 2020 at 1:19 pm   /   Oil & Gas

Wintershall Dea: Record production in 2019. Strong operating performance, a good result: Wintershall Dea reviews the first year of its existence. The Coronavirus has disrupted many things, including Wintershall Dea’s first major press conference. Rather than having journalists present, the company, which merged last year, is live-streaming its Annual Press Conference (today, 10 a.m. CET) […]

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ExxonMobil

ExxonMobil to significantly reduce spending due to market conditions

Posted: March 18, 2020 at 1:09 pm   /   Oil & Gas

U.S. oil major ExxonMobil is looking to significantly reduce spending as a result of market conditions caused by the COVID-19 pandemic and commodity price decreases. The oil price war and the sudden and sharp decline in oil prices as well as the global outbreak of the coronavirus have pushed oil and gas operators to reconsider […]

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Wintershall Dea APC-2020

Wintershall Dea to host its 2020 Annual Press Conference “Fully Online”

Posted: March 14, 2020 at 9:47 pm   /   Oil & Gas

Wintershall DEA revealed Thursday that it will host its annual press conference “fully online” this year and cancel in-person events. The move is based on health advice from the national authorities and in line with the company’s duty of care to its stakeholders and its own people, Wintershall DEA outlined. The press conference will be […]

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