UAE’s Dana Gas delays its decision on Egypt assets sale due to market turmoil
Dana Gas delays its decision on Egypt asset sale on covid fears: Dana Gas has postponed its decision on whether it will sell its Egypt assets because of the global covid-induced market turmoil, Reuters reports, citing two unnamed sources close to the talks. Plunging oil prices probably haven’t helped matters. The Emirati energy company is […]
Energean Power FPSO hull sailed away from China to Singapore
Karish Project Update – FPSO Hull Sailaway from China: Energean Oil and Gas plc, the oil and gas producer focused on the Mediterranean, is pleased to announced that its FPSO hull sailed away from the COSCO yard in China on 3 April 2020. The hull will now be towed to the Sembcorp Marine Admiralty Yard […]
Energean and Edison agree to exclude Algerian assets from E&P deal
Energean Oil and Gas and Edison have agreed to exclude Edison E&P’s Algeria assets from the previously agreed acquisition. As previously reported, Energean entered into a conditional sale and purchase agreement (SPA) on July 4, 2019, to acquire Edison E&P from Edison for an initial consideration of $750 million, with the completion of the SPA […]
Frontier: Keeping the Oil, Gas & Energy Community connected during COVID-19 outbreak and beyond
During the current COVID-19 ordeal, many are finding themselves feeling quite separated. Separated not just from family, friends and the outside world, but also from colleagues and the usual familiarities of every day work life – since offices around the world closed their doors in support of staying home, staying safe and reducing the spread […]
Frontier postpones Africa E&P Summit, launches Online Webinar Series
Frontier, the organisers of the Africa E&P Summit have made the difficult but obvious decision to postpone the conference from May until 21 – 22 October 2020 at the same venue. Not a decision taken lightly but the right decision given the global Coronavirus pandemic and the importance of the health of all of our […]
Energean might reduce its budget for Egypt by $140 million
Mediterranean gas group Energean might cut its budget for Egypt by USD 140 million as oil and gas companies cut back on spending amid the covid-19 pandemic and a simultaneous oil price war. Energean has already cut its planned outlay in Greece and Israel by USD 155 million. Mediterranean gas group Energean said it would […]
Chevron cuts 2020 capital spending by $4 bn in response to COVID-19 outbreak
Chevron next to cut spending in response to COVID-19 effects: Chevron Corp. has cut its 2020 capital spending plan by $4 billion, or 20%, to $16 billion, in response to market conditions. Chevron Corp. has cut its 2020 capital spending plan by $4 billion, or 20%, to $16 billion, in response to market conditions. The […]
Eni to cut capex by 25% this year to temper the impact of coronavirus
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 […]
Total to slash over $2.5 billion from its E&P business as oil crisis bites
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 […]
GHP Exploration farming out 50% of its share in West Gebel El Zeit Concession
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 […]
