BP reported a worse-than-expected fall in first-quarter profit on the back of lower oil and gas prices, an outage at a US refinery and “significantly weaker” fuels margins as it also started a $1.75bn share buyback.
Mongolia-focussed oil company Petro Matad said in an update on Thursday that it was actively engaged with local government agencies to secure the necessary approvals from Matad District to kickstart its 2024 operational programme.
Shares in Portuguese oil company Galp Energia popped on Monday, after it announced completion of the initial exploration phase in the Mopane field, offshore Namibia, revealing the potential presence of a substantial oil reserve of at least 10 billion barrels.
Quadrise updated the market on its collaboration with Valkor Technologies in Utah on Friday, targeting the supply of low sulphur ‘MSAR’ and ‘bioMSAR’ to the marine and power sector.
Energean announced on Wednesday that it has finalised its farm-in to Chariot’s offshore acreage in Morocco, after obtaining all the necessary approvals from the Moroccan authorities.