02 August 2024
02 August 2024
Russia’s shadow fleet is thought to include 600 vessels and carry approximately 1.7m barrels per day (mbbl/d) of oil.
The Kirkuk oilfield was discovered by a consortium including bp in the 1920s.
The deal adds approximately 170,000 barrels of oil equivalent per day (boepd) of production in 2024 and roughly 1,700 undeveloped locations to Occidental's portfolio.
The project is designed to remove 800,000 tonnes per annum (tpa) of carbon emissions.
The transaction also includes terminals in Toulouse and Villette-de-Vienne.
Data reveals that approximately 1.6% of total gas production is emitted as methane, roughly eight-times higher than reduction targets.
The companies have confirmed the fulfilment of all necessary conditions for the merger, which began in early April.
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