The North Sea Transition Authority (NSTA) revealed it will get tough on operators that do not meet their obligations.
Despite the fiscal challenges, Saudi Arabia appears steadfast in its commitment to Vision 2030.
Saudi Arabia’s role as a stabilizer within OPEC comes at a cost and Saudi Arabia may have to commit to longer and deeper output cuts.
Saudi Arabia’s balancing act between maintaining OPEC stability, sustaining oil revenues, and investing in non-oil sectors is a complex endeavor.
The project, which is pending government approval, would start production in 2029, lifting the country’s capacity to more than 1.4 million barrels of oil per day.Exxon operates all production in Guyana, with Hess Corp and China’s CNOOC as partners.
The first shipments of Senegalese crude oil from the Sangomar project are on their way to refineries in the Netherlands and Germany, marking a new era for the Senegalese economy.
Bolivia has discovered its largest natural gas field in nearly two decades at Mayaya Centro X1, estimated to hold 1.7 trillion cubic feet of gas.
The discovery brings hope for Bolivia to resolve its fuel shortage crisis and foreign currency crunch, as well as regain its position as a major natural gas exporter.
The $50 million investment in the drilling project is seen as a significant step towards economic recovery and a new era of oil and gas production in Bolivia.
NUPRC Reaches Oil Supply Deal, Directs Refiners To Provide Commission With Monthly Cargo Price Quotes
India is set to launch its tenth bidding round for oil and gas blocks in August or September, the Directorate General of Hydrocarbons (DGH) has said. The latest round will include 25 blocks across 13 sedimentary basins, which are essential for exploration and production activities.
ConocoPhillips has maintained that its $22.5 billion acquisition of Marathon Oil Corp. can be completed by the fourth quarter (Q4) despite facing an extended anti-trust review by the United States competition regulator.
Italian offshore energy services firm Saipem has secured work two offshore projects in Saudi Arabia, under the existing long-term contract with Saudi state-owned oil and gas giant Saudi Aramco.
The UK Department for Energy Security and Net Zero has confirmed its stance on oil and gas licensing in response to questioning from Rigzone.