ExxonMobil has agreed to sell the majority of its Norwegian assets in the North Sea to Vår Energi for US$4.5 billion, after the oil and gas firms entered exclusive talks earlier this month. The deal is for more than 20 non-operated stakes ExxonMobil holds in fields...
The largest offshore natural gas field in the Mediterranean, Egypt’s Zohr field, has started production, bringing the country closer to its goal of being energy self-sufficient. The giant gas field is operated by Italian energy firm Eni, which owns 60% of the field along with Russia’s...
Eni (BIT:ENI) has reached commercial production at its Sankofa field off the coast of Ghana three months ahead of schedule. The arrival of commercial production at the 45,000 barrels per day (bpd) Sankofa field represents the completion of phase one of the US$7.9 billion Offshore Cape...
Eni subsidiary brand Nigerian Agip Oil Company (NAOC) will build an oil processing plant capable of refining 150,000 barrels per day (bpd), in order to reduce the West African nation’s reliance on imports. Nigeria’s Minister of State, Petroleum Resources Emmanuel Ibe Kachikwu met representatives from Eni...
Italian energy firm Eni (BIT:ENI) has confirmed the presence of oil in shallow waters situated near Mexico’s Southern tip, following a recent drilling programme. An exact estimate of potential oil reserves in the Amoca-2 well is yet to be confirmed by Eni, but the company expressed...
ExxonMobil (NYSE:XOM) has agreed a purchase agreement with Eni (BIT:ENI) which will see the US oil major take a 25% interest in a gas-rich area off the coast of Mozambique. The deal for the stake in the offshore Area 4 block includes a cash fee of...
Algerian state-owned company Sonatrach wishes to begin oil drilling in the Mediterranean Sea as it looks to expand its reserves with new production facilities. The nation’s largest company has begun discussions with three major international oil firms regarding the opportunity for offshore drilling, according to a...
Shell (LSE:RDSB) and Total (LSE:TTA) will look to install battery charging points for electric cars at selected petrol stations in Europe, as demand for electric vehicles (EVs) continues to rise. The Anglo-Dutch oil major is initially looking to install charge points across its home markets in...
National Iranian Oil Company (NIOC) has announced it will allow bidding for oil and gas projects from 29 companies in over a dozen different countries. This announcement comes after the implementation of the new Iran Petroleum Contract (IPC) model, which has successfully garnered international foreign investment. The...
Italian energy firm Eni (BIT:ENI) has sold a stake in Egypt’s Zohr gasfield, worth US$1.1 billion, to state-owned Russian oil giant Rosneft (MCX:ROSN). This sale represents Eni’s ongoing ‘dual exploration model’, which aims to cash in on its most recent discovery, following a similar deal struck...