While the midstream energy sector is less vulnerable to fluctuations in oil and gas prices, the outlook for the Zacks Oil and Gas – Production and Pipelines industry remains uncertain. Reduced capital spending by upstream companies and weak global oil demand could negatively impact the utilization of midstream assets held by companies.
SAO PAULO, Oct 1 (Reuters) – Brazilian state-run oil company Petrobras (PETR4.SA), opens new tab announced on Tuesday that its board gave a green light to acquire a 10% stake in the offshore Deep Western Orange Basin (DWOB) oil block in South Africa, according to a securities filing.
Leading oil-and-gas multinational ExxonMobil is progressing several energy initiatives on the African continent, consolidating its status as one of the drivers of the industry on the continent.
/African Media Agency(AMA)/- Niger’s economy is set to rebound after a year marked by an unprecedented political crisis. However, the rebound is dependent on favorable security and climate conditions, and continued oil production for exports, according to the World Bank’s latest economic update for Niger, published today.
The upstream oil and gas industry regulator, Petroleum Commission, has reaffirmed its commitment to promote sustainable and responsible use of the country’s oil and gas resources to enhance national development.
The Ghana Upstream Petroleum Chamber held its annual Ghana Oil and Gas Conference recently. We spoke to its CEO, David Ampofo about the conference.
India’s latest round of oil and gas block auction has witnessed significant interest from state-run and private players, with Vedanta Ltd. bidding on all 28 available blocks, highlighting the growing enthusiasm among private players to expand their domestic upstream footprint.
PT Pertamina (Persero) and PT Pertamina Hulu Energi (PHE) signed a memorandum of understanding (MOU) with PT Pertamina International Shipping (PIS) for liquified carbon dioxide (LCO2) business development.
Kazakhstan is negotiating an increase in natural gas exports to China including via a new pipeline, Bloomberg has reported, noting this would put Kazakhstan in a competition with Turkmenistan and Russia.
Oman’s Ministry of Energy and Minerals announced the launch of a new package of oil and gas concession areas at an international conference organised by the American Association of Petroleum Geologists and hosted by Petroleum Development Oman (PDO). The new areas will be distributed between marine and onshore areas, including Concession Area No. 18 located in the southern Sea of Oman.