The upstream industry hopes 2024 can be a bounce-back year for high-impact oil and gas drilling after a lackluster 2023, with Africa and Latin America likely to spearhead activities
QatarEnergy on Jan. 31 announced $6.2 billion in contract awards for the third phase of development at its offshore Al-Shaheen oil field, the country’s biggest, which will increase production by about 100,000 b/d.
President Bola Tinubu has ordered the Attorney-General of the Federation, Lateef Fagbemi (SAN), Minister of State for Petroleum Resources, Heineken Lokpobiri, and other agencies of government to clear all court cases around the $1.3bn deepwater OPL 245 oil block located in southern Niger Delta.
HOUSTON/CARACAS (Reuters) – A reimposition of U.S. sanctions on Venezuela’s oil and gas sectors would hurt the OPEC country’s ability to collect cash from its oil exports, crimp new energy investments and raise the risks of domestic fuel scarcity, analysts and executives said.
Natural gas estimated at $1 billion and capable of powering millions of households was flared in Nigeria last year, according to BusinessDay findings.
Takoradi, Jan. 30, GNA – The Ghana National Gas Company (GNGC) has spent about 268 million cedis in executing more than 398 projects across the country as part of its Corporate Social Responsibility in the past 10 years.
It has also awarded scholarships and mentored more than 100 students from its catchment area.
The Saudi state has ordered energy major Aramco to stop work on expanding its maximum sustainable capacity to 13 million barrels daily, instead keeping it at 12 million bpd.
The Trans Mountain pipeline project is inching closer to becoming operational and a commodities analyst says Canada’s oil sector will benefit significantly once the pipeline project comes online.
Since commencing oil production in 2019, Guyana’s fortunes have changed dramatically. With a population of just 800,000, this small South American nation is on track to become one of the world’s leading oil producers per capita in 2024, potentially surpassing major oil-producing nations like Saudi Arabia and Qatar shortly.
According to the WSJ, some drillers are building gas-power plants and using the gas that would have been otherwise flared to generate the electricity they need to power their machinery.
Oil producers in Texas, New Mexico, and North Dakota are contributing to a substantial increase in electricity sales.
Grid constraints have emerged as one of the biggest obstacles to the transition of the United States from a hydrocarbon-powered to an electricity-powered economy.