Nigeria’s oil output has risen to between 1.6 million and 1.7 million barrels per day after the government beefed up security to curb crude theft, Chief of Naval Staff Emmanuel Ikechukwu Ogalla said on Tuesday.
In Ghana, production averaged approximately 41,900 boepd net in the second quarter of 2024. Kosmos lifted four cargos from Ghana during the quarter, in line with guidance.
Replacing oil and gas production from future Norwegian developments with like-for-like imported volumes from other parts of the world would result in an emissions increase of 230 million tonnes of carbon dioxide equivalent (tCO2e) between 2024T and 2040 according to a report published by Wood Mackenzie.
The supermajors continue to bet on LNG while scaling back renewables projects and investments as oil and gas returns continue to trump the poor profits from renewables.
Energy giants ExxonMobil and Qatar Energy are drilling an exploratory well 500 kilometres east of Newfoundland, in waters about 30 times deeper than those at the province’s existing oil projects.
Equatorial Guinea says it held talks with Trafigura Group for the possibility of $2 billion in financing from the commodity trader to support development of the nation’s oil and gas sector.
Global projects developers, independent E&P firms and regional investors are expected to enter the Angolan oil and gas market in the coming months as new blocks become available across onshore, offshore and marginal fields. In addition to accelerating exploration, new entrants signal fresh opportunities for collaboration and local contract opportunities.
In a landmark deal, Houston-based hydrocarbon exploration company VAALCO Energy has reported that all involved parties have finalized a production sharing contract (PSC) for Block P offshore Equatorial Guinea. According to the joint operating agreement, which was approved by the government of Equatorial Guinea in March 2024, the PSC provides for a development and production period of 25 years from the date of approval.
A Texas federal judge has slapped sanctions against an African energy company after finding that it lied in Ghanaian court about a discovery dispute related to a case in Ghana, saying attorney fees and costs are appropriate in relation to several proceedings.
Kent has been awarded a global three-year enterprise framework agreement (EFA) by Shell to provide Commissioning and Start-Up Services (CSU) across various onshore and offshore projects. This contract encompasses a wide range of energy sectors, including oil, gas, and new energy initiatives.