OGDC: Profitability to plunge by 24% YoY in 2QFY21 We expect OGDC’s earnings in 1HFY21 to arrive at PKR 42,964mn (EPS: PKR 9.99), down by 19% YoY. The fall is anticipated owed to i) drop in oil prices by 32% YoY given weak oil demand internationally and ii) 4% and 5.8% YoY dip in oil…
All posts tagged oil and gas
Fremont Petroleum on track to complete Trey acquisition by next week
SYDNEY: Fremont Petroleum Corporation Ltd announced that it expects to complete the Purchase and Sale Agreement (PSA) of the portfolio of producing oil and gas leases located in the Illinois Basin from Indiana-based Trey Exploration Inc. in the next week using existing cash reserves. This transaction was first reported on 18 June 2020. As previously…
Nostra Terra acquires producing oil and gas assets
LONDON: Nostra Terra Oil & Gas Company has announced the acquisition of a 100% working interest in the Caballos Creek Oil Field, a producing oil field with additional development opportunity in Atascosa County Texas. The primary assets are shallow, vertical oil wells producing 30 bopd gross (22 bopd net of royalties) with further development potential.…
Energean plc
Energean plc is an international oil and gas exploration and production company. It is listed on the London Stock Exchange as well as the Tel Aviv Stock Exchange and is a constituent of the FTSE 250 Index. In December 2016, Energean acquired 100 percent of the Karish and Tanin natural gas fields from Delek Drilling…
Cairn Energy PLC
Cairn Energy PLC is one of Europe’s leading independent oil and gas exploration and development companies and is listed on the London Stock Exchange. Cairn has discovered and developed oil and gas reserves in a variety of locations around the world. Cairn Energy has a primary listing on the London Stock Exchange and is a…
BP plc (British Petroleum Company)
BP plc (formerly The British Petroleum Company plc and BP Amoco plc) is a multinational oil and gas company headquartered in London, United Kingdom. It is one of the world’s seven oil and gas “supermajors”, whose performance in 2012, made it the world’s sixth-largest oil and gas company, the sixth-largest energy company by market capitalization…
Total announces third significant discovery in Block 58 offshore Suriname
PARIS: Total SE and Apache Corporation have made a significant third discovery with the Kwaskwasi-1 well, in Block 58 off the coast of Suriname. This follows previous discoveries at Maka Central in January and Sapakara West in April. The well was drilled by a water depth of about 1.000 meters and encountered a total of…
PetroTal announces restart of production at Bretana oil field
HOUSTON: PetroTal Corp. provided an update on operations at the Bretana oil field which, as previously indicated, recommenced in mid-July. On May 7, 2020, PetroTal announced that it had temporarily shut in the Bretana oil field operations in response to a directive issued by the Peruvian government’s health department related to COVID-19 prevention, that resulted…
Keppel secures FPSO contracts worth about S$73 million from MODEC
SINGAPORE: Keppel Offshore & Marine Ltd has through its wholly owned subsidiaries in Singapore and Brazil secured two contracts worth a combined value of about S$73 million from MODEC Offshore Production Systems (Singapore) Pte Ltd (MODEC), a MODEC, Inc. group company. In Singapore, Keppel Shipyard has been engaged to fabricate, complete and integrate the topside…
TP Group signs AI system contract in the United Arab Emirates energy sector
LONDON: TP Group, the provider of mission-critical solutions for a more secure world, has signed an initial contract worth £0.3 million with Gulf Data International (gDi), an IT solutions provider and systems integrator based in Abu Dhabi. The contract will see TP Group work in partnership with Gulf Data International (gDi) to develop Artificial Intelligence…
Zenith Energy confirms participation in Nigeria’s 2020 marginal field bid round
LONDON: Zenith Energy Ltd. announced its participation, in the capacity of technical and financial partner to a Nigerian registered energy company, in the 2020 bid round for marginal oil and gas fields organised by the Nigerian Department of Petroleum Resources (DPR). On June 1, 2020, the DPR, on behalf of the Federal Government of Nigeria,…
Brookside and Stonehorse collaborate to acquire producing oil and gas properties
PERTH: Brookside Energy Limited and Stonehorse Energy Limited announced the formation of a new Joint Venture (Orion Project) which will enable the companies to exploit opportunities to acquire producing oil and gas properties in the world-class Anadarko Basin, Oklahoma. Commenting on the announcement, Brookside Managing Director, David Prentice said: “We are delighted to be partnering…