Oman Oil turns into integrated energy company
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Oman Oil Company (OOC), the wholly government-owned energy and strategic investment arm, says it will continue to pursue partnerships with leading international oil companies (IOCs) in its upstream business as part of its evolution into an integrated energy enterprise.
According to the company’s chief executive officer, high-profile partnerships unveiled in recent months with energy giants such as Shell and ENI are in line with this trend.
“Oman Oil Company is converging towards the concept of an integrated oil and gas company and that’s our vision,” said Isam al Zadjali, CEO. “We are at the moment consolidating all our assets under that vision. Part of this vision is to partner with international oil companies (IOCs) with experience, technical knowhow and the financial sources, and we are selectively choosing our partners. This trend will continue whereby we will not continue with any upst
Why is the BP share price rising?
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Since the beginning of the year, the
BP(LSE: BP) share price has risen over 20%. This makes a change from 2020, when the stock fell almost 50%. So what has changed?
Well, the environment isn’t not all doom and gloom these days. As the global economy starts to recover, demand for oil is expected to pick up. After all, the world still runs on the stuff. Of course, this is good news for the BP share price and hence a big reason for why the stock has been rising.
US$12.3 TRILLION out of thin air…
BP share price: what are the latest company news updates? investomania.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from investomania.co.uk Daily Mail and Mail on Sunday newspapers.
Updated: 29/04/2021, 3:38 am
Pumping up the volume: Block H offshore Malaysia
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Thailand’s PTT Exploration & Production (PTTEP) reported net profit of $376 million for the first quarter 2021 on the back of higher oil prices and gains from the “bargain purchase” of Oman Block 61 from BP.
PTTEP reported slightly better full year guidance following better than expected sales volumes in the first quarter due to the Oman acquisition and first gas from Malaysia Block H. The state-backed oil company raised full-year volume guidance by 1.7% to 405,000 barrels of oil equivalent per day (boed).