By Paul Burkhardt (Bloomberg) -- Royal Dutch Shell Plc is planning to acquire an oil-block stake in a second deal in South Africa’s relatively unexplored waters, months after a major discovery by Total SA boosted the country’s hydrocarbon prospects. Shell has applied to take a stake in a license owned by OK Energy, located in deep waters off South Africa’s west coast, … [Read more...]
Oil Major Total Plans Biggest Exploration Drive in Years
By Bate Felix and Wendell Roelf PARIS/CAPE TOWN, Jan 29 (Reuters) - Total is launching its biggest exploration campaign for years in 2019 as part of a turnaround plan that is ditching the company's focus on risky long-shots in favor of areas known to contain commercial levels of oil or gas. The French major aims to drill 23 wells this year, its senior vice president for … [Read more...]
Total Poised to Start Exports From Big New Oil Field in Nigeria
By Sherry Su (Bloomberg) -- Total SA is poised to start exports of crude from a major new offshore field in Nigeria, adding to global supplies at a time when oil prices are plunging. Shipments of Egina crude from a floating offshore production vessel have been scheduled for February, according to a copy of a loading program for the new grade seen by Bloomberg. Initial … [Read more...]
Maersk’s Big Oil Exit Comes With a $1.2 Billion Ball-and-Chain
By Christian Wienberg (Bloomberg) -- A.P. Moller-Maersk A/S is about to exit the Danish offshore oil industry that it created half a century ago. But for the next few decades, it will be stuck with a liability that’s as big as $1.2 billion stemming from that business. Maersk on Friday won a key approval to sell its energy unit to Total S.A., with the Danish Energy Agency … [Read more...]
CMA CGM Lines Up LNG Fuel Supply for Gas-Powered Megaships
CMA CGM has reached an agreement with French energy company Total on the supply of LNG fuel for the shipping company's nine record-setting newbuildings to be powered by natural gas. Under the agreement, Total will supply around 300,000 tons of liquified natural gas per year for a period of 10 years. The supply will commence upon delivery of the containerships beginning in … [Read more...]