Tanzania, Equinor, Shell to sign key $40 billion LNG-project accords next month

(Bloomberg) — Tanzania will sign key agreements with oil majors including Equinor ASA and Shell Plc next month to pave the way for a planned $40 billion liquefied natural gas export project, according to the nation’s Energy Minister January Makamba.

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Oil and gas exploration: Ensuring safe, reliable field performance with end-to-end enterprise asset maintenance

When it comes to success rates for discovering new oil and gas resources, 2021 saw one of the lowest on record. However, with the return of high-impact oil exploration in 2022, O&G businesses have seen a much higher success rate. In fact, by September 2022, exploration, development and production (E&P) firms had already discovered more than 1.7 Bboe at high-impact wells–four times what was discovered for all of 2021. With success rates like this, E&P organizations plan to move forward with a range of new projects that will have pumps producing oil for years to come.

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Technip Energies makes ‘orderly exit’ from Russia’s Arctic LNG 2 project

French engineering group Technip Energies has said it is making an “orderly exit” from its largest contract in Russia, Arctic LNG 2, with the problems looming on the horizon for work on the liquefied natural gas scheme’s trains at a specialised shipyard near the Russian port of Murmansk.

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Shale oil output threatens to peak in 2024, Energy Aspects says

Oil output from shale basins is at risk of peaking in just two years as drillers combat rising costs, analysts including Amrita Sen wrote in a note to clients dated Tuesday. Rampant inflation is prompting at least five producers to consider the unusual step of cutting rigs at the start of the year, while none plan to boost oil activity substantially, according to the report.

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Biden calls on oil companies to reduce their prices

(Bloomberg) — While U.S. gasoline prices have come down from the highs seen this summer, they’re clearly still weighing on President Joe Biden, who on Monday repeated demands for oil companies to charge less

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Angola tops Nigeria as Africa’s biggest oil producer in August

(Bloomberg) — Nigeria lost its crown as Africa’s largest crude producer as Angola surpassed the country for the first time in more than five years

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Texas oil and gas regulator adopts weatherization rules ahead of winter

(Bloomberg) — Texas’s top oil and natural gas regulator adopted a new set of weatherization rules more than a year and a half after a deadly winter storm hit the state and left millions without

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Equatorial Guinea backs Saudi Arabian calls for a stable oil market

At a time when global oil markets are experiencing significant volatility, member countries of OPEC+ have the means to address these challenges, and Equatorial Guinea will continue

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Brazilian upstream consolidation leads to bullish production forecasts

National Oil Company Petrobras is focusing on output growth from pre-salt, following a trend of Brazilian oil independents raising output at fields the NOC already divested, Petroleum Economist reported

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Biden announces wind turbine plan for oil-rich Gulf of Mexico

(Bloomberg) — President Joe Biden announced plans to advance offshore wind power in the Gulf of Mexico and in Atlantic waters near the Southeast U.S., part of a bid to prove he’s confronting the climate crisis

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