Shell has experienced repeated interruptions due to sabotage and bunkering on its pipelines. On March 31, 2017, Shell had shut down the Nembe Creek Trunk Line in order to remove illegal connections used to steal Bonny Light crude oil. However, in late May shipments were resumed from the Forcados terminal, leading the company to lift force majeure on Forcados crude on Wednesday after more than a year.
Nigeria has been exempted from the <a href=’https://theenergyyear.com/companies-institutions/opec/’>OPEC oil production cut deal due to the repeated interruptions to output by militant attacks. Though peace talks with rebels have proceeded more slowly than expected, in May 2017 industry officials claimed that the worst of the violence was over and that output was on track to reach 2.2 million bopd by late June.
The UK's hydrocarbons regulator has awarded 31 new exploration licences in the country's North Sea waters, Reuters reported on Friday Read More
ExxonMobil announced the closing of its USD 60-billion acquisition of Pioneer Natural Resources on Friday, a move that solidifies its… Read More
BP-Eni joint venture Azule Energy has entered a strategic farm-in agreement with Rhino Resources in Namibia's offshore Orange Basin, the… Read More
Africa-focused energy group Chariot has spudded the RZK-1 exploration well on the Gaufrette prospect at the Loukos Onshore licence in… Read More
Touchstone Exploration has acquired Trinidad-focused Trinity Exploration & Production in an all-shares deal, the Canadian upstream player said on Wednesday Read More
ExxonMobil is "optimistic and pushing forward" with the Rovuma LNG project in Mozambique and eyes an FID by the year's… Read More
This website uses cookies.