If you and a partner invest in a boat and decide to split profits equally, you will feel cheated if her share is much greater than 50%.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has unveiled a new initiative, AfriPERF, to fast-track the utilisation of Africa’s vast petroleum resources, which are estimated at 620 trillion cubic feet (Tcf) of natural gas and 125 billion barrels of crude oil.
Vår Energi ASA has reported a successful discovery at its operated Cerisa exploration well in production license PL 636 offshore Norway.
All eyes are fixed on US inflation data as crude oil prices have maintained their hot streak and are set to end this week with a third weekly gain. Surging geopolitical tensions around Israel and Lebanon have overshadowed slackening economic data from the US in May, with every single day this week posting a day-on-day increase and Brent set to finish the week at $87 per barrel.
Nigeria’s crude oil production is expected to rise in the third quarter (Q3) of 2024, as new fields come onstream following the ongoing efforts to revamp existing oil and gas assets to boost output, a report by the Society of Energy Editors (SEE), has revealed.
Saudi Aramco, the world’s largest oil exporting company, has awarded contracts exceeding $25 billion to advance its strategic gas expansion plan, which aims to increase sales gas production by more than 60 per cent by 2030, compared to 2021 levels.
Like 80% of Guyana’s college graduates, Richard Singh had left the tiny South American nation for better job prospects abroad. Then, in a surprising turn of events, he realized he could make more money back home.
Petroleum Nasional Bhd (Petronas) has signed a small field asset (SFA) production sharing contract (PSC) with Vestigo Petroleum Sdn Bhd for a discovered resource opportunity cluster marketed under the Malaysia Bid Round Plus (MBR+).
The total number of active drilling rigs for oil and gas in the United States fell again this week, according to new data that Baker Hughes published on Friday.
Africa Energy Corp. (TSXV: AFE) (Nasdaq First North: AEC) (“Africa Energy” or the “Company”) announces that CNR International (South Africa) Limited (“CNR”) has provided notice to the joint venture partners that it will withdraw from its 20% interest in accordance with the joint operating agreement in respect of Block 11B/12B, Offshore the Republic of South Africa (“JOA”).