Energy Minister John Jinapor says Ghana’s petroleum production is expected to rebound after five years of decline, following new investment agreements with Eni and Jubilee Partners aimed at boosting output and strengthening the oil and gas sector.
Oil market participants are increasingly pricing crude to be capped near $100 a barrel over the next year, as demand is forced to slow down to counter millions of barrels of supply losses caused by the US-Iran war. That’s one of the conclusions from a Bloomberg Intelligence survey that received 126 responses this month from […]
BP PLC has signed three new production sharing contracts (PSCs) in Indonesia, which it said present potential for fast-tracked development. Two of the PSCs, the Bintuni and Drawa exploration blocks, sit near the BP-operated Tangguh LNG in Papua Barat province, a six-field project that started production 2009 and is now producing up to 11.4 million […]
What would the implications be for the oil market if Iran decided to permanently tax/toll traffic through the Strait of Hormuz? According to Howard Shatz, a senior economist at RAND and a professor of policy analysis at the RAND School of Public Policy, if the U.S.-Iran conflict led to a permanent tax or toll in […]
ADNOC has deployed an autonomous heavy-duty inspection robot at its Taweelah Gas Compression Plant in the UAE as part of a broader push to expand artificial intelligence, robotics and automated safety systems across operations. Developed by Taurob, the robot is designed to conduct inspections in hazardous industrial environments while reducing personnel exposure to operational risks. According […]
The Independent Petroleum Association of America (IPAA) is supporting new legislation introduced by Senator Cynthia Lummis and Congressman August Pfluger aimed at easing emissions compliance requirements for low-production oil and gas wells. The proposed “Protect Domestic Oil and Gas Small Business Act” would shift responsibility for developing performance standards for marginal wells from the federal […]
BW Energy has reached positive FIDs for two projects offshore Brazil and Gabon and raised its 2028 production target, the company announced on Wednesday. The decisions cover the Bourdon Phase 1 development in the Dussafu licence offshore Gabon and a new campaign of infill wells in the Golfinho licence offshore Brazil. Based on estimates of […]
The head of ConocoPhillips said Venezuela’s initial steps to attract foreign oil companies that could help revive the nation’s production are falling well short of what’s needed to convince firms to invest. The recent changes to Venezuela’s oil law intended to entice foreign drillers still give the government wide latitude to charge royalties of up to 30%, […]
Equinor and Aker BP have agreed to align portions of their Norwegian Continental Shelf portfolios through a series of offshore asset transactions aimed at accelerating development activity and increasing long-term value creation. The companies said the collaboration will focus on selected offshore areas where greater ownership alignment could support faster project decisions, improved resource utilization and more coordinated […]
QatarEnergy and ExxonMobil have signed an MoU with the Government of Egypt to study the potential development and commercialisation of gas discoveries in Cyprus, QatarEnergy announced on Thursday. Under the terms of the MoU, the parties will explore future growth opportunities that would optimise Egypt’s underutilised gas and LNG production assets, as well as commercial frameworks utilising […]