TransGlobe Energy reports Q1 net loss of US$55.2mn.
Oil and gas company TransGlobe Energy has reported Q1 net loss of US$55.2mn (US$0.76 per share)
E&P
Sonatrach signs MOU with Russia’s Lukoil
Algeria’s Sonatrach and Russian company Lukoil have signed a memorandum of understanding (MoU)
Lebanon’s first offshore well fails
Total’s well offshore Lebanon has not been able to find a reservoir in the Tamar formation, which was the target of this exploration well
Global E&P revenues to fall by US$1 trillion in 2020: Rystad Energy
The devastating effect of the COVID-19 pandemic on global oil and gas exploration and production (E&P) companies is better understood by looking at the industry’s expected total annual revenues for 2020
‘New licensed offshore acreage is likely to fall by about 60 per cent’
More than half of the world’s planned licensing rounds are likely to be cancelled this year due to the combined effect of the COVID-19 pandemic and the ongoing oil price war, a Rystad Energy impact analysis forecasts
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