Exxon Mobil Corp. has outlined its intention to proceed with the drilling of two exploration wells offshore Guyana within the current year, despite the proximity of these drilling sites to a region that is subject to dispute with Venezuela. The oil conglomerate is poised to conduct drilling operations west of the Liza field, an area already yielding oil, and situated closer to the border shared with Venezuela. Notably, Exxon Mobil asserts that the ongoing territorial dispute does not impede its plans for exploration and drilling activities in the region.
French energy giant TotalEnergies is exploring the sale of its minority stake in a major Nigerian onshore oil joint venture, following Shell’s divestment last month, according to CEO Patrick Pouyanne.
NAIROBI, (CAJ News) – THE recent death of six people after a gas explosion southeast of the capital Nairobi is a culmination of illegal practices in the petroleum sector.
Standard Chartered has predicted very little incremental growth in US crude oil supply in 2024.
Stanchart sees y/y growth U.S. crude production growth decelerating strongly and even turn negative in December 2024.
StanChart says the deceleration in supply growth is the result of capex barely meeting high natural decline rates in shale oil production.
Crude oil prices have ticked up over 2% in the aftermath of the rejection of a ceasefire in Gaza.
Israeli Prime Minister Benjamin Netanyahu vowed to continue the war until “victory”.
The rejection of a ceasefire deal comes a day after the U.S. launched one of a series of retaliatory strikes following the death of three American soldiers in Jordan.
Last April, Germany shut down its last three nuclear power stations, marking the end of the country’s atomic age.
Berlin has unveiled plans to spend €16 billion on 10 gigawatts (GW) of new gas-fired power plants in a major overhaul of the country’s energy grid.
Germany is also abandoning its short-lived love affair with coal.
Our net zero lesson of the day is from the U.K. but it applies universally. It’s increasingly difficult for Biden and the EU to hide the true costs of net zero mandates.
Chinese commodity imports remained robust in January despite signs of a still struggling economy and cautionary reading of the data that may have been distorted by the start of the Lunar New Year later this week.
Unveiling a significant stride towards enhanced transparency, the Public Interest and Accountability Committee (PIAC) in Ghana has made public a ‘citizens version’ of its statutory annual report on petroleum revenue management. This 60-page document, a brainchild of PIAC, is designed to break down complex and technical information into a form that’s comprehensible to the average citizen. The paramount chief of Asante Asokore, Professor Nana Susubribi Krobea Boaten, proudly marked the launch of this initiative.
QatarEnergy has entered into a 20-year LNG sale and purchase agreement (SPA) with Petronet LNG Ltd for the supply of 7.5 million tpy of LNG destined to the Republic of India.
Pursuant the terms of the SPA, the contracted LNG volumes from Qatar will be delivered ex-ship to terminals across India onboard Qatar Energy’s vast LNG fleet starting May 2028.