OIL and gas (O&G) remains a cornerstone of the nation’s economy, generating up to RM300 billion in annual revenue.
UK is among a group of five richer nations which have together issued two-thirds of oil and gas licenses since 2020, according to the IISD
Oil and gas exploration worldwide has surged to the highest level in five years, despite hundreds of nations agreeing to “transition away” from fossil fuels in energy systems at last year’s UN Climate Summit.
Venezuela on Wednesday granted a 20-year license to British energy producer BP and state-owned National Gas Company of Trinidad and Tobago (NGC) to develop the Venezuelan side of a natural gas field that extends into the Caribbean country’s waters.
ExxonMobil is planning a new drilling campaign in Guyana’s Stabroek block and has filed a project summary with Guyana’s Environmental Protection Agency for the Hammerhead development project
Following the results of ongoing drilling campaigns, oil and gas major ExxonMobil could invest as much as $15 billion in Angola’s Namibe basin by 2030. Active in the country for 30 years, the company is developing a series of large-scale oil and gas projects while implementing initiatives to maximize output at producing fields.
Italy’s energy giant Eni has held a naming ceremony for a floating production, storage, and offloading (FPSO) and floating storage and offloading (FSO), which underwent conversion works for a year. The finishing touches are now underway to prepare these vessels for their move to the Italian heavyweight’s oil and gas development, which is said to be the largest discovery in Cote d’Ivoire and the first net-zero upstream project, in terms of Scope 1 and 2 emissions, on the African continent.
Eni has received formal consent from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) for the sale of NAOC Ltd to Oando Plc.
The Sentuo Group says it is investing $980 million in a two million metric ton per annum capacity oil refinery in Tema, with plans for a second phase to increase the capacity by an additional three million metric tons per annum.
Ghana’s oil revenue surged to $840 million in the first half of 2024, marking a 36% increase from the $540 million recorded in the same period in 2023.
On 23 July 2024, the Commission published revised Guidance Documents (GDs) supporting the implementation of Directive 2009/31/EC on the geological storage of carbon dioxide (CCS Directive). These updates were prepared with the support of an independent energy expert and assurance provider DNV, and aim to streamline permitting procedures and support sustainable CO2 storage solutions in the European Economic Area (EEA).