Coronavirus company news summary – Exxon receives multiple bids for UK North Sea assets – Gran Tierra Energy resumes operations at several fields

23 September 2020 (Last Updated September 23rd, 2020 10:31)

23 September

Nigerian Labour Congress is set to begin an indefinite strike from next week to protest against the government’s decision to increase power and petrol prices. This comes after Nigeria reduced subsidies on petrol and increased power tariff, reported Reuters. The step was taken to qualify for loans from international lenders after government income slipped following the Covid-19 triggered oil price crash.

Exxon Mobil has received several bids for its assets in UK North Sea amid the Covid-19 crisis, Bloomberg reported quoting unnamed sources. The company is planning to exit from this region by offering its stake in 15 fields as part of a multibillion-dollar global divestment plan. The deal is expected to close in the first quarter of next year.

Canada-based company Gran Tierra Energy has resumed several field activities across the company’s Colombian portfolio. The operations restarted operations in accordance with Covid-19 safety protocols. In the period from July to 21 September, the company’s production averaged around 18,700 BOE per day. Gran Tierra Energy is also pursuing optimisation programmes and have reduced operating costs by nearly $3/bbl.