The dwindling investment in the upstream sector of the oil and gas industry may force the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) to consider some drastic measures in the next bid round for oil blocks.
Abu Dhabi National Energy Company, better known as Taqa, is selling its stake in the Atrush oilfield in the Iraqi Kurdish region.
The company, through its wholly owned subsidiary Taqa International, has entered into a definitive agreement with General Exploration Partners to sell all of its interest in the oilfield, Taqa said on Monday in a filing to the Abu Dhabi Securities Exchange, where its shares are traded.
It did not provide further details but said the transaction remains subject to third-party approvals.
Loadings of Russian and Kazakhstan oil onto marine tankers at Russia’s second-largest export terminal on the Baltic Sea, Ust-Luga, have resumed at around midday on Monday after coming to a standstill in the early morning hours on Sunday when captains ordered vessels to be pulled back to sea due to security concerns, marine traffic data suggests.
Shell is set to conclude nearly a century of operations in Nigerian onshore oil and gas after agreeing to sell its subsidiary there to a consortium of five mostly local companies for up to $2.4bn.
Eco (Atlantic) Oil & Gas Ltd (AIM:ECO, TSX-V:EOG) told investors that its subsidiary, Azinam Limited, has received government approval for its proposed farm-out transaction with Africa Oil, which will see a 6.25% stake in the Block 3B/4B asset offshore South Africa transferred to the Toronto-listed partner.
Despite the many pledges by the Nigerian authorities to meet the Organisation of Petroleum Exporting Countries (OPEC) production quota in 2023, the country failed do so, although it made appreciable progress in raising crude oil production compared to 2022
Egypt’s Ministry of the Public Business Sector and Norwegian renewable power producer Scatec ASA (OSL:SCATC) are considering the development of a solar project to supply clean energy for the operation of the aluminum complex in the city of Nagaa Hammadi in Upper Egypt.
Norway’s energy ministry said Jan. 19 it was considering its response after a district court overturned the ministry’s approval for three recent North Sea oil and gas projects in a case brought by Greenpeace and the youth wing of Friends of the Earth
Vice President Dr Mahamudu Bawumia on Wednesday, January 18 welcomed, to the Jubilee House, H. E. Roosevelt Skerrit, Prime Minister of Dominica.
The Prime Minister called on Dr Bawumia for a mutually beneficial discussion between the two countries.
Dr Bawumia wrote on Facebook that their deliberations focused on many areas, including the importance of renewable energy mix.
The 28th meeting of the Conference of Parties (COP28) which concluded in December 2023 assessed amongst others, the progress made under the Paris Agreement and called on parties to; transition away from fossil fuels to reach net zero “in a just, orderly, and equitable manner”, phase out inefficient fossil fuel subsidies, and submit economy-wide Nationally Determined Contributions (NDCs).