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Shell Signs Agreement to Acquire Pavilion Energy
June 25, 2024
Shell has reached an agreement with Carne Investments, an indirect wholly-owned subsidiary of Temasek, to acquire 100 percent of the shares in Pavilion Energy. Pavilion Energy includes a global liquefied natural gas (LNG) trading business with a contracted supply volume
Ghana Signs $12 Billion Deal to Implement First Phase of Petroleum Hub Project
June 24, 2024
The Ghanaian government has entered into a $12 billion agreement with the TCP-UIC consortium to implement the initial phase of the Petroleum Hub project in Western Africa. The TCP-UIC consortium comprises Touchstone Capital Partners, UIC Energy, China Construction Third Engineering
Equinor Secures Exploration Permit for CO₂ Storage in Denmark
June 20, 2024
Equinor has been awarded its first CCS exploration permit in Denmark as operator, together with partners Ørsted and Nordsøfonden. The partnership will start surveys to assess if the onshore license in the North West Zealand can be developed into a
TotalEnergies to Divest Brunei Subsidiary to Hibiscus Petroleum for $259 Million
June 18, 2024
TotalEnergies has entered into an agreement to sell its wholly-owned subsidiary TotalEnergies EP (Brunei) to Hibiscus Petroleum Berhad for a consideration of $259 million. Hibiscus is a Malaysian independent oil and gas exploration and production company. The transaction is expected
New Zealand Government to Reverse Oil and Gas Exploration Ban
June 17, 2024
Removing the ban on petroleum exploration beyond onshore Taranaki is part of a suite of proposed amendments to the Crown Minerals Act to deal with the energy security challenges posed by rapidly declining natural gas reserves, Resources Minister Shane Jones
U.S.-Saudi Petrodollar Pact Ends After 50 Years
June 13, 2024
The 50-year-old petrodollar agreement between the U.S. and Saudi Arabia was just allowed to expire. The term “petrodollar” refers to the U.S. dollar’s role as the currency used for crude oil transactions on the world market. This arrangement has its
IEA Report: Global Spending on Clean Energy Technologies, Infrastructure to Hit $2 Trillion in 2024
June 13, 2024
Global spending on clean energy technologies and infrastructure on track to hit $2 trillion in 2024 even as higher financing costs hinder new projects, notably in emerging and developing economies Despite pressures on financing, global investment in clean energy is
Ground Control Introduces World’s Lightest and Most Power-efficient Iridium Certus 100 Devices
June 13, 2024
Satellite and cellular connectivity specialists, Ground Control, has launched two small form-factor devices that can be used across multiple industries which require tracking and remote monitoring, both with ultra-low energy consumption. British-owned Ground Control, which operates out of both the
Aker Solutions Secures Brownfield and Modification Frame Agreement with Azule Energy, Angola
June 11, 2024
Aker Solutions has secured a sizeable long term frame agreement with Azule Energy to provide engineering, procurement, and construction services (EPC) for brownfield projects and modifications for two FPSOs in Angola. This is a continuation of the current frame agreement
Seadrill to Sell Three Jackups Rigs for $338 Million to Gulf Drilling International, Qatar
June 7, 2024
Seadrill Limited has entered into a definitive agreement to sell three jack-up rigs — the West Castor, the West Telesto, and the West Tucana (Qatar Jack-Up Fleet) — and its 50 percent equity interest in the joint venture that operates
