Oil and gas engineer Hunting has ridden the wave of continued oil and gas drive from supermajors to a near 30 per cent revenue uplift.
Nigeria has received 60% of the African Export and Import Bank’s (Afreximbank) N30 billion investment in Africa’s oil and gas sector.
Denison Gas Ltd. has started a five-well drilling program to support production and reserves growth across its Denison North and South Project areas.
Gasoline may face a dwindling future if everybody starts driving electric cars. But the oil and gas industry has a backup plan for keeping its fortunes alive — the lucrative chemicals that can be made from petroleum.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says it projects to attract about $17.64 billion investment inflow from 51 field development plan which it approved in 2022 and 2023.
Oil prices on Thursday fell after a larger-than-expected build in U.S. crude stockpiles stoked worries about slow demand, while signs that U.S. interest rates could remain elevated added to pressure.
In a bid to increase the nation’s revenue base, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has projected an investment inflow of about $17.67 billion into the upstream petroleum sector with expected cumulative 2.12 billion barrels of oil and 13.13 Trillion Cubic Feet (TCF) of gas production in the next five years.
LONDON-Oil prices pulled back on Wednesday as the prospect of delays to U.S. interest rate cuts and a jump in U.S. crude stocks that trounced expectations offset a boost from a potential extension to OPEC+ supply curbs.
Oil prices edged up more than $1 on Tuesday as producer group OPEC+ considers extending voluntary oil output cuts into the second quarter to provide additional support, sources said.
Crude oil prices went lower today, after the U.S. Energy Information Administration reported an estimated inventory increase of 4.2 million barrels for the week to February 23.