WorldOil $700 million invested in Ghana offshore gas project The World Bank approved $700 million in investment guarantees for an offshore gas project in Ghana that will help the country address electricity shortages. Saudi Aramco testing C02 to get more oil from giant Ghawar field Saudi Arabian Oil Co. started injecting carbon dioxide to try and boost extraction rates from the world’s biggest oil field as the company steps up plans to recover more crude from its deposits. TransCanada quarterly profit rises on power and pipe volumes TransCanada Corp., which divides its business between pipelines and power plants, reported higher second-quarter profit as the company transported more fuel and produced more electricity from a nuclear plant in Ontario. Dark times ahead as oil slump lingers Exxon Mobil Corp. and Chevron Corp., the biggest U.S. energy producers, hunkered down for a prolonged stretch of weak prices after posting their worst quarterly performances in several years. Chevron profit plummets after writedown of oil asset values Chevron Corp. posted its lowest profit in more than 12 years after an energy market rout prompted the company to write down the value of oil and gas fields by almost $2 billion. Total assumes operatorship of PRL 15 InterOil Corp. and Total EandP PNG Limited have agreed that Total will become operator of Petroleum Retention License 15 in the Gulf Province of Papua New Guinea from August 1, 2015. Exxon profit lowest since 2009 as cost cuts lag oil’s drop Exxon Mobil Corp. posted its worst quarterly performance in six years as a worldwide glut of oil collapsed prices faster than explorers trimmed costs. Parkmead wins three new UK oil and gas licenses Parkmead has been provisionally awarded three new licenses covering three offshore blocks in the UK 28th Licensing Round. CGG cuts spending after quarterly loss narrows on crude oil drop CGG SA’s second-quarter loss narrowed and the French oilfield seismic surveyor will make further spending reductions as exploration companies cut their own investments and delay projects amid falling crude prices. BG Group second-quarter profit declines 65% after oil price drop BG Group, which agreed to be acquired by Royal Dutch Shell for more than $70 billion in April, reported a 65% drop in second-quarter profit following a slump in oil prices. Shell Arctic support vessel turned back by Greenpeace activists Greenpeace USA activists suspended from the St. John’s Bridge in Portland, Oregon, for more than 30 hours have prevented Shell’s Arctic drilling support vessel, the Fennica, from leaving Portland.