New Major Oil Discovery in Angola Deep Offshore

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An Eni-led consortium announced a new major oil discovery in Block 15/06 in the deep offshore of Angola. The other partners in the JV are Sonangol Pesquisa e Produção (15%), SSI Fifteen Limited (20%), Total (15%), Falcon Oil Holding Angola SA (5%), Petrobras International Braspetro B.V. (5%) 5%) and Statoil Angola Block 15/06 Award AS (5%).

Total and partners launch $16B ultra-deep Kaombo project offshore Angola

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Total and its joint venture partners have made the final investment decision to develop the ultra-deep offshore Kaombo project in Angola. Associated gas will be exported to the onshore Angola LNG plant. Total is the operator of Block 32, with a 30% stake, alongside Sonangol P&P (30%), Sonangol Sinopec International (20%), Esso Exploration and Production Angola (Overseas) Limited (15%) and Galp Energia (5%). France-based Total has been present in Angola since 1953.

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Sonangol, Maersk Oil and partners strike oil with their first deepwater pre-salt well offshore Angola

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Sociedade Nacional de Combustíveis de Angola Empresa Pública (Sonangol, E.P.), The result may be a further step towards our goal of building up a significant business in Angola. Maersk Oil entered Angola in June 2005, when it acquired a 50% interest and operatorship of Block 16. Exploration activities are ongoing in Angola, Brazil, Norway, the US Gulf of Mexico, Greenland and in producing countries.

BP closes out 2013 with deepwater finds in Gulf of Mexico and offshore Angola; new activity offshore Brazil

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Earlier in December, Cobalt International Energy announced a significant discovery at its Lontra well in the pre-salt play offshore Angola, in which BP holds a 30% interest. BP said that 2013 had been its most successful year for new field exploration for almost a decade. During the year, BP participated in 15 completed wildcat exploration wells, resulting in 7 potentially commercial discoveries—a new field exploration success rate of more than 40%.

GECF: more than a quarter of 2050 natural gas supply untapped

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The two-day Oil and Gas of Turkmenistan 2020 conference was organized by the Government of Turkmenistan and attracted the participation of regional and international energy companies, including CNPC, Dragon Oil, SOCAR, ENI, ARETI, Schlumberger, Hyundai, among others. Yet-to-find (YTF) resources will contribute to around 30% of the total production of natural gas worldwide by 2050, according to Yury Sentyurin, the Secretary General of the Gas Exporting Countries Forum (GECF).

BP takes delivery of 6 new LNG tankers

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The vessels will help service a 20-year liquefaction contract with the Freeport LNG facility in Texas, as well as other international LNG projects in BP’s global portfolio. BP also participates in LNG projects in Australia, UAE, Indonesia, Trinidad and Angola. BP is taking delivery of six new, state-of-the-art liquefied natural gas (LNG) tankers to support its expanding global LNG portfolio, and to respond to growing demand for lower-carbon energy sources around the world.

2017 60

IEA: non-OPEC oil supply tops 43 mb/d for first time in decades; global demand to reach 92.4 mb/d in 2014

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The International Energy Agency’s (IEA’s) Oil Market Report (OMR) for December raised the estimate of global oil demand for 2013 by 130,000 barrels per day (130 kb/d) to 91.2 Renewed disruptions in Libya and smaller drops in Nigeria, Kuwait, the United Arab Emirates and Venezuela more than offset higher output in Iran, Iraq and Angola.

Cobalt and Total announce significant North Platte deepwater Gulf of Mexico discovery

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Cobalt International Energy, Inc., an independent oil exploration and production company focusing on the deepwater US Gulf of Mexico and offshore Angola and Gabon, announced a significant oil discovery at its North Platte prospect on Garden Banks Block 959 in the deepwater Gulf of Mexico. Total is in a strategic alliance with Cobalt International Energy to explore for oil in the Deepwater Gulf of Mexico.

2012 78

Chevron announces $32.7B capital and exploratory budget for 2012; LNG and deepwater investments propel a step change

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Major capital investments include developments in Australia, the deepwater Gulf of Mexico, Nigeria, Angola and China. Angola: Angola LNG and development of Mafumeira Sul. This planned spending includes initial appraisal of new acreage captured over the past two years, including Liberia, China and various international shale gas plays. Chevron Corporation announced a $32.7 billion capital and exploratory spending program for 2012.

GE study finds 5% of worlds natural gas production wasted per year by flaring

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It is becoming increasingly clear that the next phase of flare gas eradication will require a major, coordinated effort from central and regional governments, oil and gas producers, technology providers, and the international community. Elsewhere in West Africa, Angola, Equatorial Guinea, Gabon, Congo and Cameroon collectively waste about 10 billion cubic meters of natural gas every year. Gas-flaring countries and trends. Click to enlarge.

2011 89

Opinion: Saudis Could Face An Open Revolt At Next OPEC Meeting

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Saudi Arabia and its Gulf Arab allies, except Qatar, have increased output, while the output of other OPEC members, other than Iraq and Angola, has either flat-lined or decreased, compared to 2014: Given Saudi determination to defend its export markets, it is interesting that the percentage gain in their crude exports exceeded the percentage gain in crude output in 1H 2015, by 2.7 by Dalan McEndree for Oilprice.com.

2015 78

Opinion: Is Russia Plotting To Bring Down OPEC?

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Putin has aligned Russia with OPEC’s have-nots—the members lacking financial resources to withstand low crude prices for an extended period and that have objected to Saudi policies (Iran, Iraq, Angola, Nigeria, Libya, Algeria, Ecuador, and Venezuela)—against the haves (Saudi Arabia, Kuwait, the UAE, and Qatar). in Russian and Soviet history, Soviet economics, and International economics, and MBA in finance and marketing. by Dalan McEndree for Oilprice.com.