About 1,068 oil and gas projects approved between 2022 and 2023 that are currently ongoing across the country are to attract a total of $22.8bn, the Federal Government announced on Wednesday.
The Nigeria Upstream Petroleum Regulatory Commission has said that about 1,068 oil and gas projects approved between 2022 and 2023 that are currently ongoing across the country are to attract a total of $22.8bn.
Canada’s Africa Oil Corp now says its earlier announced plans to pull out of Kenya’s Turkana oil project have hit fresh headwinds following delayed State approvals.
The average U.S. diesel price is down compared to a year ago, according to the AAA gas prices website
The Producer Price Inflation (PPI) rate for January 2024 stood at 17.4%, higher than the 16.6% recorded in December 2023.
Last year, Saudi Arabia’s sovereign wealth fund became the world’s top spender, accounting for a quarter of the $124 billion that sovereign wealth funds invested in total.
Saudi Arabia has been spending heavily both abroad and at home—the home of the world’s megaprojects, such as the $500-billion futuristic Neom project and a whole new airline, among others.
While the upstream mega deals in the U.S. shale patch have been drawing the most market attention, pipeline operators are also embarking on a merger spree in a quest to add scale, optimize assets, and gain more exposure to export markets.
Last month, U.S. oil and gas supermajor Exxon Mobil Corp. (NYSE:XOM) released its long-term global energy outlook report. Exxon has predicted that global energy demand will reach about 660 quadrillion Btu in 2050, good for a 15% increase from 2021 levels reflecting a growing population and rising prosperity.
Ghana’s top oil regulator expects the country’s long-delayed natural gas-import terminal to be completed by the end of the year, despite numerous setbacks.
Saudi Arabia’s crude production increased to 8.94 million barrels per day in December 2023, a monthly rise of 1.43 percent, according to a Joint Organizations Data Initiative study.
The analysis revealed the Kingdom’s crude exports in December declined by 28,000 bpd to 6.3 million bpd, a 0.44 percent decrease from November.