In February 2020, then-brand-new chief executive Bernard Looney told the world that one of the oldest and biggest oil companies in the world was going to become a net-zero company by 2050. To achieve this, it would slash its oil and gas production by 40% by 2030.
National oil company Petroliam Nasional Bhd (Petronas), through Malaysia Petroleum Management (MPM), has announced two initiatives aimed at bolstering the robustness of the local oil and gas sector, namely the introduction of the Integrated Well Continuity Services (IWCS) contract and the planned establishment of the MPM Hydraulic Workover Unit Academy (HWU Academy).
The United States Geological Survey (USGS) and the Arkansas Department of Energy and Environment’s Office of the State Geologist have discovered a vast lithium reserve containing more than nine times the International Energy Agency’s projection of global lithium demand for electric vehicles in 2030. A relic of an ancient sea that left an extensive, porous, and permeable limestone geologic, the Smackover Formation extends under parts of Arkansas, Louisiana, Texas, Alabama, Mississippi, and Florida, and could contain between 5 and 19 million tons of lithium reserves.
Plans to shut down a vital terminal in the North Sea have sparked a bitter legal row over claims it will damage the UK’s oil and gas production.
Egypt has played a leading role in the global energy market for several decades, as a major producer of both oil and gas, as well as a vital transportation hub for energy products. Despite disruptions, caused mainly by national political unrest and geopolitical challenges in recent years, Egypt remains a major energy power in Africa. The government recently announced ambitions to expand its exploration activities for national gas, as well as continue financing an increase in the country’s renewable energy capacity in the coming decades.
Nigerian energy leader Aisha Achimugu, CEO of Oceangate Oil and Gas Engineering, says she has entered an agreement with Global Petroleum Group (GPG) to develop oil and gas resources in offshore blocks near Grenada–according to a story recently released on the web site www.billionaires/africa.
The Pan-Niger Delta Forum (PANDEF) gathered for a significant meeting at Hotel Presidential in Port Harcourt.
The oil and gas sector has emerged as a vital pillar of Ghana’s economy, wielding significant influence over its growth trajectory and development.
As the clock keeps ticking away, the legal battle that may decide the fate of two of the largest undeveloped oil and gas fields off the coast of the United Kingdom (UK) is fast approaching with less than three weeks left until the set date. The operators of these projects, Britain’s Shell and Norway’s Equinor, have a court fight on their hands, which is further complicated by two factors: the government’s decision to drop their legal defense of the two North Sea developments and a recent court ruling, which brings emissions created when the oil is burned into play.
Norway produced 241.3 million cubic meters (8.5 billion cubic feet) per day of natural gas in September, 30.9 percent lower than the prior month but 19.9 percent higher than the same period last year, official data has shown.