The American Petroleum Institute (API) estimated that crude oil inventories in the United States saw a large build of 4.4 million barrels in the week ending November 14. Crude oil inventories gained 1.3 million barrels in the week prior.
TotalEnergies SE agreed to buy a 50 percent stake in a portfolio of European power assets for about EUR 5.1 billion ($5.9 billion), expanding in the sector even as some major oil and gas peers retreat.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC), as part of its strategic initiative to raise national crude production to 2.5 million barrels per day (bpd) by 2026, has revealed plans to reactivate dormant oil fields in the country.
A big boost for Nigeria’s oil and gas production could be on the way, after Conoil and TotalEnergies signed a major production deal in Paris.
Government says it is undertaking comprehensive regulatory reviews in the downstream petroleum sector, including moves to introduce a new National Petroleum Authority (NPA) Act to align the industry with current market realities.
Government has reaffirmed its determination to halt the country’s
half-decade decline in oil production, announcing more than
US$3.5billion in new investment commitments as the national oil
company (NOC) prepares to begin offshore drilling in late 2026.
Parliament on Tuesday, adopted a report for the review of the Petroleum Revenue Management Act, Act 815 to allow government to invest Ghana’s petroleum revenues in areas that deliver maximum earnings.
Ghana’s 2026 budget, spearheaded by President John Mahama, places a strong emphasis on revolutionising the nation’s energy sector. The ambitious plan aims to deliver more reliable, affordable, and sustainable electricity to both businesses and households, creating a bedrock for economic growth and improved living standards. This transformation hinges on strategic shifts in fuel sources, increased domestic gas production, and substantial investments in new infrastructure
The government will take bold and forward-looking steps to ensure that Ghana’s petroleum wealth delivers greater value for its people, Finance Minister, Dr Cassiel Ato Forson, has said. To this end, he said an additional qualifying instrument for the investment of the petroleum resources of the Ghana Petroleum Funds (GPFs) would be introduced. The move, […]
ConocoPhillips has made a natural gas discovery in the Otway Basin off the Australian coast, the company said today, adding that the reserves tapped and their commercial viability have yet to be estimated. “The Essington-1 well is the first discovery in the Otway since 2021 and is a promising start to ConocoPhillips’ exploration activities in […]