The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has kept the nation’s two months’ crude oil production reports secret.
Reasons for the clandestine action was not immediately clear at the time of filing this report.
The latest report the commission published was that of last November. It was published on December 13, last year.
Oil prices fell in early Asian trade on Monday after Israel said it had “concluded” a series of strikes in southern Gaza, slightly easing concerns about supply from the Middle East.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) is in discussions with TotalEnergies on its plan to focus on its offshore operations in Nigeria, the commission has said.
The head of the National Iranian Oil Company (NIOC) has said the company is going to ink contracts worth $14 billion with domestic companies for the development of the country’s oil and gas fields by the end of the current Iranian calendar year (March 19).
Rocky Mountain oil and gas company Zephyr Energy plc provided an update on its project in the Paradox basin, Utah, and its non-operated project in the Williston basin, North Dakota.
According to StanChart, the global oil surplus we are currently witnessing is due to seasonal weakness in the month of January.
StanChart notes that there’s been a January inventory draw in only three years since 2004, with the first month of the year averaging a build of 1.2 million barrels per day.
StanChart has predicted that this surplus is transitory and will flip into a 1.6 mb/d deficit in February.
Rivals Diamondback Energy and Endeavor Energy Resources are finalizing a merger that would create an oil-and-gas behemoth worth more than $50 billion, as higher oil prices and a rush to grab prime acreage fuel consolidation in the energy sector.
Europe’s oil refineries are stepping up crude purchases following a surge in the price of diesel and disruptions to imported shipments from the Middle East. The situation is driving up the cost of physical barrels of oil.
The last thing Senegal needed in its long-drawn-out effort to capitalize on large oil and gas finds off its coast was political turmoil.
The Petroleum Holding Fund (PHF) recorded a total inflow of US$1.06 billion in 2023 despite economic headwinds.