Eni has signed an agreement with Angola’s national oil company Sonangol to expand the perimeter of the offshore Block 15/06. The block, where Eni made the Kalimba discovery in June, will now cover an additional area of 400 square kilometres on the west side. Eni…
Markel creates standalone marine/energy divisions as profit rises Specialist insurer Markel International has created two new standalone divisions for marine and energy, and appointed Chris Fenn and Julian Samuel as managing directors of the businesses. Markel claims to have seen impressive growth of its…
Miller unveils new equity partners as senior brokers retire Miller Insurance Services has made a series of senior appointments to replace a group of four long-serving executives that are retiring at the end of 2018. James Hands, Charles Lane, Phil Wheeler, Martin Henderson and…
Crude’s poised for the longest losing streak since 2014 as concerns of a supply crunch eased on a forecast for rising US production and waivers for eight countries allowing temporary import of Iranian oil. Futures in New York fell as much as 0.9 percent…
UK’s oilfield services provider Wood and Azerbaijan’s Nobel Oil have entered into a joint venture agreement to provide engineering and operations support services to the oil and gas market in Azerbaijan. Wood said on the 7th November that the JV will combine its engineering…
Eni and Lukoil have signed a farm-out agreement for the transfer of participating interests in three exploration licences in Mexico’s shallow waters. According to the agreement, Eni will give Lukoil a 20% stake in the production-sharing contracts (PSC) in both Area 10 and Area…
TAG Oil, along with certain of its subsidiaries in New Zealand, has entered into a definitive share and asset purchase agreement with Australian-based Tamarind Resources, and certain of its subsidiaries. This arm’s length transaction is for the sale of substantially all of TAG’s Taranaki…
OMV AG has agreed to sell its wholly owned subsidiary OMV Tunisia Upstream GmbH to a subsidiary of Panoro Energy ASA, London, for US$65 million, subject to adjustments. OMV Tunisia Upstream holds 49% interests in the Cercina-Cercina Sud, El Ain-Gremda, El Hajeb-Guebiba, and Rhemoura…
The US government has reimposed new oil and other sanctions against Iran effective the 5th November which replace provisions under a 2015 multinational nuclear arms control agreement from which it withdrew in May, the Trump administration has announced. Eight countries which officials would not…
The United States has told Iraq that it will be allowed to keep importing crucial gas, energy supplies and food items from Iran after Washington reimposes sanctions on Tehran’s oil sector, three Iraqi officials have said. The waiver is conditional on Iraq not paying…
