The Managing Director of Omiti Engineering, Nduka Nwosu has said that the new licensing round for 19 oil blocks will unlock opportunites for indigenous firms.
The MD said this at the launch of the bid round by the Minister of Petroleum Resources, Heineken Lokpobiri and Nigerina Upstream Petroleum Regulatory Commission’s Chief Executive, Gbenga Komolafe.
Energy and commodities company Vitol will participate at the Angola Oil&Gas (AOG) 2024 conference (https://apo-opa.co/4b9OwCw) – scheduled for October 2-3 in Luanda – as a silver sponsor. The sponsorship demonstrates the company’s dedication to fueling the expansion of the Angolan oil and gas market by leveraging its extensive expertise and services.
Vice President and flagbearer of the NPP, Dr. Mahamudu Bawumia has outlined comprehensive measures he believes will address a general concern with regard to management of Ghana’s natural mineral resources.
Oil prices fell for a third day on Wednesday amid increasing hopes of a ceasefire agreement in the Middle East and rising crude inventories and production in the U.S., the world’s biggest oil consumer.
Brent crude futures for July fell 70 cents, or 0.8%, to US$85.63 a barrel by 0456 GMT. U.S. West Texas Intermediate crude for June declined 75 cents, or 0.9%, to US$81.18 per barrel.
After the biggest first quarter for global upstream dealmaking in five years, the industry could see another $150 billion of merger and acquisition (M&A) deals in the remainder of 2024. With global M&A deal value crossing the $64 billion mark already this year, it represents the strongest first-quarter performance since 2019 and a 145% increase on the first quarter of 2023, fueled primarily by consolidation in the US shale patch.
Although oil price is favorable, it is still lower than what it was in the prior year. This is likely to lower the demand for drilling & production equipment, thereby making the outlook for the Zacks Oil and Gas- Mechanical and Equipment industry gloomy.
Rigorous engineering remains the key platform to accomplish the dizzying array of complex work on a daily basis and the linchpin in elevating the performance of deepwater projects from acquisition to abandonment.
Conrad Asia Energy Ltd. said it has made significant progress in maturing the Mako project in the Duyung production sharing contract (PCS) with major contracts and services expected to conclude in the second quarter of the year.
Kazakhstan maintained its robust global market position in 2023, producing nearly 90 million tons of oil and nearly 60 billion cubic meters of gas. This year, gas production is expected to increase to just a little over 60 billion cubic meters, reported the Kazakh Ministry of Energy on April 26.
The heads of the energy ministries of Kazakhstan, Azerbaijan, and Uzbekistan signed a memorandum of cooperation at the Tashkent International Investment Forum. The memorandum aims to pave the way for the interconnection of the energy systems of these nations.