Top stories
Marketing & MediaDaily Maverick launches a groundbreaking local bureau in Nelson Mandela Bay
Daily Maverick 14 hours
Tourism & TravelTumi celebrates 50th anniversary with campaign, 'Made for you since 1975'
Tumi 2 days
More news
Chevron also comes up short in Namibia energy exploration
Chevron said it did not find commercial hydrocarbon reserves in an exploration well in Namibia's Orange Basin. The US oil producer said the well called Kapana 1X in the PEL90 block provided valuable information about the basin and the company anticipated it would explore further in Namibia.
A 3D printed natural gas pipeline is placed in front of displayed Chevron logo. Source: Reuters/Dado Ruvic
Oil companies have flocked to the country, with recent offshore finds ranking among the largest this century, though exploration has been dealt some blows.
Shell said last week that it will write down about $400m over an oil discovery offshore Namibia that it deemed commercially unviable.
Namibia's national oil company said in April it signed a development deal with Chevron to have the company take an 80% operating working interest in an offshore block in the Walvis Basin.
Source: Reuters
Reuters, the news and media division of Thomson Reuters, is the world's largest multimedia news provider, reaching billions of people worldwide every day.
Go to: https://www.reuters.com/Related
9th Global Gas Outlook 2050 highlights Africa’s natural gas potential 11 Mar 2025 Oil price spikes after Trump cancels Chevron Venezuela licence 28 Feb 2025 Forvis Mazars disputes PetroSA deal allegations 10 Feb 2025 Shell pulls out of Namibia oil discovery 9 Jan 2025 Russian oligarch says we haven’t yet reached peak oil 12 Dec 2024 Consumer insights agency, KLA, reveals the Quarterly Buzz Results for Q3 2024 19 Nov 2024
