Exploration & Production

TransGlobe Energy reports Q1 net loss of US$55.2mn.

47448215802 5d01495b73 oOil and gas company TransGlobe Energy has reported Q1 net loss of US$55.2mn (US$0.76 per share)

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Sonatrach signs MOU with Russia’s Lukoil

wengang zhai 7757CqIYqTo unsplashAlgeria’s Sonatrach and Russian company Lukoil have signed a memorandum of understanding (MoU)

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Lebanon’s first offshore well fails

5ea6fbe499a79 Bf666BTotal’s well offshore Lebanon has not been able to find a reservoir in the Tamar formation, which was the target of this exploration well

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Global E&P revenues to fall by US$1 trillion in 2020: Rystad Energy

25280651877 91213acddc cThe devastating effect of the COVID-19 pandemic on global oil and gas exploration and production (E&P) companies is better understood by looking at the industry’s expected total annual revenues for 2020

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‘New licensed offshore acreage is likely to fall by about 60 per cent’

francesco boncompagni dEBvDbDH4P4 unsplashMore than half of the world’s planned licensing rounds are likely to be cancelled this year due to the combined effect of the COVID-19 pandemic and the ongoing oil price war, a Rystad Energy impact analysis forecasts

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