In June 2029, the Namibian government pays N$200 000 to 500 000 households from oil tax revenue. Desperate to win elections later that year, the ruling party raids the sovereign wealth fund and mortgages future oil revenue to afford the N$100 billion payout.
In June 2029, the Namibian government pays N$200 000 to 500 000 households from oil tax revenue. Desperate to win elections later that year, the ruling party raids the sovereign wealth fund and mortgages future oil revenue to afford the N$100 billion payout.
Stakeholders in the extractive industries have approved the Nigeria Extractive Industries Transparency Initiative (NEITI) 2021 independent industry reports of the oil, gas and mining sectors.
The total number of active drilling rigs in the United States fell by 12 this week, according to new data from Baker Hughes published Friday.
Russia’s Arctic LNG 2 project is on track to begin first production later this year, one of the minority shareholders, China’s CNOOC, said on Friday.
Underinvestment in oil and gas exploration has been a scarecrow for energy security for several years now.
The offshore rig market is experiencing a period of rapid growth, driven by notable advancements in Guyana, Brazil, and the Middle East, infill drilling activities in West Africa, and renewed exploration in Namibia, India, and the Eastern Mediterranean, according to the International Energy Agency (IEA).
A survey has revealed that Norwegian oil and gas companies plan to increase oil and gas investments in both 2023 and 2024.
Norwegian oil company Equinor has discovered oil and gas in the North Sea, 130 kilometers northwest of Bergen, Norway, while drilling wells 35/11-26 S and 35/11-26 A.
Upstream oil and gas is enjoying a new lease of life. But with investment spend well below past highs, is the industry investing enough to fulfil its critical role of delivering enough supply to meet the rise in demand we expect over the next decade? I asked our Upstream experts, Fraser McKay and Ian Thom, who addressed this very question in our July Horizons.