Chevron Corporation is targeting to increase oil and natural gas recovery at the company’s existing Jack/St. Malo and Tahiti facilities in the deepwater U.S. Gulf of Mexico.
Despite concerns about a potential market oversupply, OPEC+ is set to increase production due to a combination of foreign investor interests from without and the need for unity within, according to S&P Global Commodity Insights.
Russian oil companies received payments totaling 163.3 billion rubles from the budget for the fuel damper in August, the Finance Ministry said in materials on forming and utilizing additional oil and gas revenues from the federal budget, as posted on its website.
Investment firm LetterOne, owned in part by sanctioned Russian oligarchs Petr Aven and Mikhail Fridman, has acquired a minority stake (14.87%) in Harbour Energy, which is the UK’s biggest oil and gas company with operations in Norway, Southeast Asia, Germany, North Africa and Argentina.
Oil prices fell slightly on Wednesday, hovering at their lowest levels since December after plunging more than 4% the previous day on signs of a weak global economy, lacklustre oil demand, and expectations of an end to a dispute halting Libyan exports.
The Rosebank and Jackdaw oil and gas fields have suffered a big setback after the government decided not to defend them against a legal challenge. Here’s what you need to know.
As oil majors shift focus to deep offshore exploration in Africa, local producers face rising costs and complex challenges in a rapidly evolving industry landscape.
Nigeria’s Dangote Oil Refinery has begun processing gasoline, marking a significant development after delays caused by crude shortages. The $20 billion refinery started operations in January, producing naphtha and jet fuel. However, it could not produce gasoline until now. Dangote Industries Vice President Devakumar Edwin announced the development.
Aker BP has started oil production from Tyrving field in the Alvheim area offshore Norway.
The development leverages the planned extended lifetime for Alvheim field and will increase production while reducing both unit costs and CO2 emissions/bbl, the company said in a release Sept. 3.
In a release sent to Rigzone recently, industry body Offshore Energies UK (OEUK) announced that it has released data “which models the impact of the government’s announced stronger Energy Profits Levy (EPL) on the UK economy”.