In a move to enhance domestic capacity, streamline processes, and position the state-owned companies to better deal with the challenges faced in the oil and gas industry a new hydrocarbon law will be passed in Equatorial Guinea.

Angola’s National Oil Company (NOC) Sonangol has responded to the changing global financial landscape by accelerating its restructuring program and exploring new financial solutions that meet the requirements of today’s international debt market.

Kraken Robotics Inc. has signed a definitive share purchase agreement (the “PanGeo Agreement”) whereby Kraken Robotics Systems Inc., a wholly-owned subsidiary of Kraken, will acquire all of the issued share capital of PGH Capital Inc. (“PGH Capital”) on substantially similar terms to those set out in the non-binding letter of intent dated April 8, 2021, and disclosed in the Company’s press release dated April 9, 2021 (the “PanGeo Transaction”).

Global survival and safety solutions leader Survitec has completed a £15 million Bank Guarantee Facility with Barclays Corporate Banking.

The Norwegian export credit agency, Export Finance Norway (Eksfin), is opening up new territory for state-backed financing with a cutting-edge solution that enables international customers to purchase ongoing services from a Norwegian exporter – a step beyond just capital goods and solutions that have been traditional recipients of its portfolio of loans and Triple A-rated risk guarantees.

In light of the prevailing uncertainty in global energy demand, there is a heightened focus on cost reduction across all functions in the oil and gas industry.

The European oil majors (Shell, BP, TotalEnergies, Eni and Repsol) benefitted dramatically from elevated oil and gas prices in the first quarter of 2021 as income returned to near pre-pandemic levels, says GlobalData, a leading data and analytics company.

The Tax Foundation has found that President Biden’s plan to repeal so-called fossil fuel “tax breaks” could marginally benefit the environment but at the cost of denying the fossil fuel industry normal cost recovery.

Exxon Mobil Corporation has announced estimated second-quarter 2021 earnings of $4.7 billion, or $1.10 per share assuming dilution, compared with a loss of $1.1 billion in the second quarter of 2020. Second-quarter capital and exploration expenditures were $3.8 billion, bringing the first half of 2021 to $6.9 billion, which is consistent with planned lower activity in the first half of the year.

Over the past three decades, Angola has proven to be a tier one destination for major oil and gas producers.

Australia is about to see its largest-ever wave of offshore development wells that reach the end of their producing life and need to be for decommissioned.

INEOS E&P A/S, which is a part of INEOS Energy, has announced that it has completed the previously announced agreement to acquire the subsidiary HESS Denmark ApS. for a total consideration of $150 million, effective January 1^st, 2021.

JP Morgan emerged as the top financial adviser for mergers and acquisitions (M&A) by both value and volume in the oil & gas sector for H1 2021, having advised on 18 deals worth US$66.7bn. A total of 802 M&A deals were announced in the sector during H1 2021, according to GlobalData, a leading data and analytics company.

Total SE of old has recently gone through a rebranding to become TotalEnergies by an almost unanimous decision by shareholders.

America’s marine economy contributed about $397 billion to the nation’s gross domestic product in 2019 and grew faster than the nation’s economy as a whole, according to the most current results of the first official Marine Economy Satellite Account released today by two Department of Commerce agencies.