The federal government has met with a team from Seplat Energy, to resolve the stalemate arising from the proposed $1.3 billion ExxonMobil’s oil asset sale which has now been held up for close to two years.
It wasn’t clear what the details of the meeting which took place in Abuja were, but the Minister of State, Petroleum (Oil), Senator Heineken Lokpobiri, hinted that it bordered on ways to resolve the prolonged altercation.
French energy giant TotalEnergies said that it is in the process of drilling the first of three wells on a field offshore Nigeria with one of Noble Corporation’s drillships.
Petroleum and other minerals ownership Ghana’s legal foundations for the ownership of petroleum and other minerals are firmly established within the constitutional framework of 1992.
Oil prices have weakened recently, mostly on the back of equally weak economic data from the two largest markets for oil.
Traders, this week, focused on rising U.S. crude oil inventories, record American oil production, weaker Chinese refinery and economic data.
The Middle East also stands out as the only region where upstream oil and gas investments have exceeded pre-pandemic levels.
OPEC+ members are set to meet on Sunday to discuss production policy, and unnamed sources have claimed that the group will be discussing further production cuts.
Aramco, one of the world’s leading integrated energy and chemicals companies, has successfully produced the first unconventional tight gas from its South Ghawar operational area two months ahead of schedule. This development supports Aramco’s strategy to increase gas production by more than half, over 2021 levels, through 2030, subject to domestic demand.
Nigeria is withdrawing civil claims totaling $1.1 billion against energy giant Eni SpA, ending a long battle in Italian courts over allegations of corruption in an oil-field deal.
Saudi Arabia’s crude oil exports increased by 170,000 barrels per day (bpd) to 5.75 million bpd in September, data from the Joint Organizations Data Initiative (JODI) showed on Thursday.