European oil majors BP and Total could be pressured into following Shell’s recent decision to cancel scrip dividends and return to paying its dividend entirely in cash, but they are unlikely to have their ratings negatively impacted, Fitch Ratings said on Wednesday.
Gazprom Neft’s subsidiary in Iraq, Gazprom Neft Badra, started on Wednesday commercial operations on its 1.6 billion cubic meters (Bcm) gas processing plant at its Badra oilfield, in eastern Iraq, Kallanish Energy reports.
OPEC’s decision to extend its oil output cap with non-OPEC producers for a further nine months didn’t disappoint market expectations and Brent crude prices so far continue to trade around $60 a barrel.
OPEC members and “brother countries” Iraq and Saudi Arabia have signed 18 memoranda of understanding (MoUs) covering crude oil, natural gas, refining and other projects, the Iraqi oil ministry said in a statement on Wednesday.
Iranian oil minister Bijan Zanganeh slammed on Monday Pakistan’s lack of certainty within its natural gas industry as Tehran is asked to join Hungary’s oil firm MOL in the development of Pakistani gas projects.
Total’s CEO Patrick Pouyanne said Monday Angola’s newly elected President João Lourenço and recently appointed chairman of Sonangol, Carlos Saturnino, have shown “strong willingness” to drive an investment environment in the Angolan oil and gas industry.
OPEC oil output fell in November by 300,000 barrels per day (BPD) to its lowest since May, a Reuters survey found, pressured by a drop in Angolan and Iraqi exports, strong compliance with a supply cut deal and involuntary declines.
London-listed independent oil and gas company, Genel Energy, announced on Monday the successful drilling of a producer well in the northern flank of its 44%-operated Taq Taq field in Kurdistan, Kallanish Energy reports.