The local content in Nigeria’s oil and gas sector has experienced a significant surge, recording a rise of about 54 per cent in 2022 compared to 26 per cent in 2017.
Given the economic mayhem that energy price-fuelled inflation has caused for Western governments since Russia’s invasion of Crimea, the last thing they want is another oil production shutdown in Libya that would push oil prices higher again.
Valeura Energy, the upstream oil and gas company with assets in the Gulf of Thailand and the Thrace Basin of Turkey, has temporarily suspended production operations at the Wassana oil field, offshore Gulf of Thailand.
Nigeria, OPEC’s largest producer in Africa, aims to significantly increase its oil production to up to 1.7 million barrels per day (bpd) by November 2023, hoping to win a higher quota in the OPEC+ agreement, Gabriel Tanimu Aduda, Permanent Secretary at Nigeria’s Ministry of Petroleum Resources, told Energy Intelligence on the sidelines of the OPEC+ seminar in Vienna this week.
Energy Minister, Dr. Matthew Opoku Prempeh popularly known as Napo was on on Saturday, July 8, named the overall Africa Role Model in Politics and Governance at the 14th MTN Pulse Africa Role Model Awards held at the Great Hall, KNUST.
Recently, a number of headlines recently have referred to the world’s “hottest frontier oil play,” a site of massive oil and gas finds with great promise for investors
RIYADH: US energy firms last week added oil and natural gas rigs for the first time in 10 weeks due to the biggest weekly increase in gas rigs since October 2016, energy services firm Baker Hughes Co. said in its closely followed report.
The United Arab Emirates has announced that it will not join Saudi Arabia in making voluntary oil production cuts, claiming that the cuts by the Saudis are enough to balance the markets.
The government of Iraq and TotalEnergies earlier today signed a long-awaited deal worth $27 billion that should see Iraq’s oil production grow and boost its reliance on domestic gas for power generation.