Statoil sells gas field stake for $2.25bn

Statoil has sold its 15.5% share in a gas field in the Caspian Sea to Malaysian company Petronas for $2.25 billion (£1.4bn). The Norwegian firm’s production from the Shah Deniz field in the second quarter of this year was 38,000 barrels of oil equivalent per day. Located 70 kilometres south-east of Baku, the capital city […]

Mozambique at heart of East African gas boom

Mozambique is at the heart of a rush for East African gas, according to analysts at the Economist Intelligence Unit. They believe firms are looking in new locations for gas because historically producing areas such as the Middle East are tricky to break into. Peter Kiernan, Energy Analyst claims the “biggest story” is offshore gas […]