Author: intent

The Republic of Congo Leads Gas Drive

The Republic of Congo is a mature hydrocarbon market with proven resources, numbering 1.8 billion barrels of oil reserves and 284 billion cubic meters of natural gas reserves. Despite this, the country’s on- and offshore territory remains underexplored and operators have been slow to add value to crude resources. Yet a new gas monetization drive, coupled with several offshore exploration and development programs, presents investors with dynamic opportunities in gas processing and refining, LNG trade and infrastructure upgrades.

Oil Majors Pursue Projects with $30 per Barrel Breakeven

The U.S. and global oil and gas sector is currently enjoying a third year of relatively high energy prices with oil demand on a steady growth trajectory. WTI crude has traded above $70 per barrel for the better part of the past 12 months, well above the $54 per barrel average breakeven price for U.S. shale basins. However, U.S. oil majors are not allowing high energy prices to lull them into a false sense of security, rankled by the memories of the historic oil price crash of 2020. Oil majors are now hedging their bets by targeting new oilfields that can be profitable even at $30 per barrel oil, reflecting executives’ belief that high prices are anything but guaranteed.

With appraisal out of the way, Eni and Total Energies mulling over development solution for gas discovery off Cyprus

Two European oil majors, Italy’s Eni and France’s TotalEnergies, are setting the wheels into motion to undertake a full evaluation of the hydrocarbon resources in a gas discovery offshore Cyprus to come up with a development solution for this project, which will enable them to boost the supply of gas not just in the region but also to Europe.

Bill On North West Development Commission Passes Second Reading

In his argument, the sponsor of the bill, the Deputy Senate President, Senator Barau Jibrin representing Kano North, noted the expediency for its establishment, intrinsically serve as a catalyst to develop the arrays of potentials of the North-West as well as address the gap in infrastructural development of the region and for related matters.