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Patrick Pouyanné, Chairman and CEO of Total and the new Chairman of Angola's national oil company Sonangol signed several agreements covering both upstream and downstream activities.
Total has signed big upstream and downstream asset deals with Brazil's state-run oil firm Petrobras that will see the French oil giant take operatorship of Lapa pre-salt field and large interests in two other pre-salt licences in Brazil.
Dong Energy agreed to sell its upstream oil and gas business to British chemical and oil products group Ineos for about $1.3 billion, making it a purely renewables company.
The number of upstream projects reaching final investment decision in 2017 could double to 25 compared to only 12 last year, Wood Mackenzie said in a new report.
Upstream companies may be quietly optimistic about the outlook for 2017, but many remain cautious. Wood Mackenzie’s analysis of the 2017 guidance issued during the Q4 reporting season indicates that approaches to capital expenditure and production…
Wood Mackenzie has forecast that the investment cycle will show the first signs of growth in 2017 since 2014 and final investment decisions (FIDs) will double, compared with 2016.
Rosneft said it has agreed with the Kurdistan Regional Government to invest up to US$400 million in five production blocks despite clashes between Iraqi government and Kurdi troops which has seen Iraq recapture Kirkuk oilfields.
French oil giant Total has signed an agreement with Engie to acquire its portfolio of upstream liquefied natural gas (LNG) assets for $1.49 billion to become the second largest global LNG player
Italy's Eni has announced that is has become the operator of the onshore Cabinda North block as it ups its stake as well as strengthening its presence in the upstream, downstream and trading sectors in the country.
Sound Energy, the Moroccan and European focused upstream gas company, said it successfully flared gas at the onshore Koba-1 well at Sidi Moktar in Morocco.