TotalEnergies to Sell Subsidiary for $259MM to Malaysian E&P
TotalEnergies is selling its subsidiary TotalEnergies EP (Brunei) BV, which owns interests and is the operator for a mature field offshore Brunei.
Valeura Purchases FSO Offshore Thailand
After initially leasing the Aurora FSO, Valeura Energy decided to purchase the vessel for $19 million.
US LNG to Asia Has Lower Emissions Profile than Coal, Rystad Says
LNG emissions are up to 50% lower on average than for coal-fired power generation, even when the fuel is shipped over long distances, according to new research from Rystad Energy.
Oil Settles Slightly Up on Forecasts for Strong Global Demand
Oil prices edged up to settle slightly higher on June 11 as the U.S. Energy Information Administration raised its global oil demand growth forecast for the year, while OPEC stuck to its forecast for relatively strong growth in 2024.
Engelhart to Acquire Energy and Technology Business Trailstone
The transaction to acquire Trailstone, expected to be completed in third quarter 2024, will strengthen Engelhart’s position in the energy transition, the company said in its announcement.
Wars Complicate Energy Transition Despite US LNG Security Blanket
Analysts with Norway’s Equinor argue that increased levels of geopolitical conflict and outright wars “have made the energy transition more fragmented,” despite U.S. LNG creating an energy security blanket for Europe and elsewhere.
E&P Highlights: June 10, 2024
Here’s a roundup of the latest E&P headlines, including a decline in global drilling activity and new contract awards.
CNOOC Makes Major Discovery in South China Sea
CNOOC said the Lingshui 36-1 gas field has been tested to produce over 10 MMcm/d of open flow natural gas.
TotalEnergies Signs Two LNG Contracts in Asia
Through contracts with Indian Oil Corp. and Korea South-East Power, TotalEnergies is securing its global LNG supply portfolio in the medium term.
E&P Highlights: June 4, 2024
Here’s a roundup of the latest E&P headlines, with new contracts awarded and larger commitments made for oil and gas exploration in South Korea and Australia.