In line with the UAE's plan to follow OPEC’s agreement to reduce production, the state-owned Abu Dhabi National Oil Co. (Adnoc) s is cutting back supplies to customers in June.
Kuwait National Petroleum Company (KNPC) and the Petrochemicals Industries Company (PIC) signed early May agreements to transfer contracts of key projects to Kuwait Integrated Petrochemical Industries Company (KIPIC).
The first agreement involves an exploration and production sharing contract for the Rufisque Offshore Profond block. The second one sets that Total will perform studies to assess the exploration potential of Senegal’s ultra-deep offshore.
FAR Limited has announced that the Senegal joint venture partners will drill the FAN South-1 exploration well, the first pure exploration well to be drilled offshore Senegal since the FAN-1 and SNE-1 discovery wells in 2014.
An international consortium led by the France's Total SA plans to start construction of a liquefied natural gas (LNG) terminal in Cote d'Ivoire by mid-2017.
Shell finalized the selling of its 20% shareholding in Vivo Energy Holding B.V. for a total amount of $250m. The selling comes in line with Shell's plan to focus on downstream activity in areas where it can be most competitive.