Africa Oil Corp (TSX:AOI) revealed it repurchased more than 326,000 shares between February 5 and 9, as part of a buyback programme launched in early December.
Over the last decade, the US has become the top producer of crude oil globally, thanks in part to hydraulic fracturing in shale formations.
The US overtook Saudi Arabia and Russia in oil production in 2018, accounting for 14.7% of global crude oil production in 2022.
Despite leading in production, the US still trails in remaining proven reserves underground, ranking seventh globally behind countries like Venezuela and Saudi Arabia.
Barclays announced Friday it will no longer provide direct financing for any new upstream oil and gas, thermal coal expansion projects or related infrastructure to help achieve its net zero goals.
South Africa is preparing to appoint a new chief executive officer of state oil and gas company PetroSA, ending a more than yearlong leadership vacuum, Energy Minister Gwede Mantashe said.
A proposal at the state Capitol to ban new oil and gas drilling in Colorado by 2030 — which sponsors claim is necessary to counteract climate change and address “adverse health impacts” — is raising a furor throughout the industry.
Once oil rivals Diamondback Energy and Endeavor Energy Resources announced Monday (Feb. 12) that they are merging to create a $50 billion oil giant in the Permian Basin. The deal is just the latest in a wave of consolidation in the US energy sector.
Europe’s increased dependence on Norway’s oil and gas has made the country’s energy installations more at risk of attack, the head of one of the agencies charged with securing them told Reuters on Monday
Oil and gas companies and environmental groups on Monday filed dueling legal challenges to the Biden administration’s five-year plan to offer drilling leases in the Gulf of Mexico.
LONDON: Saudi state oil company Aramco has started trading a US crude oil grade that underpins the global Brent benchmark in a process run by S&P Global Commodity Insights, the publisher said on Monday, according to Reuters.
According to the Bank of Ghana (BoG), Ghana’s Petroleum Holding Fund (PHF) encountered both challenges and opportunities in 2023, reflecting the broader economic trends that influenced crude oil prices and revenue inflows.