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The Joint National Assembly Committee on Petroleum Resources (Upstream, Downstream, Gas) has expressed disappointment over the 2024 budget of the Ministry of Petroleum Resources, stating that it falls short in meeting Nigerians’ expectations.
On the northeastern tip of South America, there are three little countries stacked in a row; anomalies of empire whose imperial histories still have resonance today. Guyana, Suriname and French Guiana. One formerly of the British Empire; one formerly of the Dutch Empire; one still an overseas department of France and all speaking the language that their colonial masters left them. Of these, Guyana, formerly British Guyana and the only English-speaking country in South America, has been in the news lately following a referendum in Venezuela where President Maduro invited Venezuelans to decide if a large chunk of Guyana should, in fact, be Venezuelan. Given the vast oil riches off the coast of Guyana, the referendum unsurprisingly passed. Once the sabre-rattling verbal aggression died down, there was agreement that no one wanted to go to war and that the foreign ministers of each country would negotiate a solution over the next three months.
HOUSTON :Oil rose nearly 2per cent on Monday as investors worried about disruptions to maritime trade and supply costs after the Iran-aligned Yemeni Houthi militant group attacked ships in the Red Sea.
Over the past decade renewable investments have made bigger profits for shareholders than oil investments.
COP 28’s slow walk to decarbonization may bring 2050 goals out of reach.
The pace of divestment from oil could make a major difference for the ultimate returns on energy investments.
Top U.S. banks forecast a median Brent price of $85 for 2024, citing demand growth and potential supply disruptions.
Goldman Sachs revised its forecast to $70-$90 per barrel, while Citigroup predicts an average price of $75, factoring in slower demand growth and higher U.S. output.
The global oil market outlook for 2024 is largely bearish, but increased demand, especially from Asia, could lead to higher prices.
THE Joint National Assembly Committee on Petroleum Resources (Upstream, Downstream, Gas) has decried the 2024 budget of the Ministry of Petroleum, saying it for lacks the capacity to meet Nigerians expectations.
Record temperatures in Europe and North America extended the gas storage refill season, leading to high inventories.
Natural gas demand decreased due to warmer weather, an industrial slowdown in Europe, and record U.S. production and LNG exports.
Futures and options market winter premiums have diminished, contributing to a drop in Europe’s natural gas prices and bearish trends in the U.S. and Asian markets.
China’s stellar economic growth for many years pushed the prices of the major commodities it needed ever higher, almost single-handedly creating and sustaining the commodities supercycle over those years.
China’s economic growth target for 2023 was officially “around 5%”, which meant that it was almost certainly going to be attained on paper, regardless of the reality behind the figures.
One obvious sector of concern – among many others that are less so – is the property sector, which accounts for around a third of China’s entire GDP and about 65 percent of total household assets.
TechnipFMC has been named the winner of this year’s National Offshore Industries Association’s ESG Excellence Award.