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).
Indonesia is hoping that a giant natural gas discovery off North Sumatra province will boost investment into its energy sector. But the path toward commercialization may face challenges, including those emerging from the presidential election next year, analysts said.
Force majeure was declared on Jan 7 after protesters from the South Western Ubari region closed the field in protest at rising fuel prices, poor economic opportunity and unemployment. Sharara . is operated by a joint venture between Libya’s National Oil Corp, Equinor, OMV, Repsol and TotalEnergies.
Leading (re)insurance companies SiriusPoint, Riverstone International, Enstar Group, and specialty insurers Blenheim and SA Meacock, have reportedly ruled out involvement in the controversial East African Crude Oil Pipeline (EACOP) project.
Italian ENI’s exploration in the “Cronos-2” target within Block 6 of Cyprus’ exclusive economic zone (EEZ) appears to have yielded positive results, as gas flaring reported from the drilling site indicates the discovery of a natural gas reservoir.
Anxiety prevails among the relevant state officials and officers, as well as the public opinion of Cyprus, for the announcement that is expected to be issued soon by the Italian ENI on the preliminary results of the successful drilling in Block 6, at the drilling target Kronos 2.
Eni SpA’s E subsidiary, Enilive, and renowned chemicals company LG Chem have solidified their commitment to a groundbreaking joint venture in a significant stride toward sustainable energy solutions.
The drilling by Italian energy giant ENI in the Cronos-2 field in Block 6 of Cyprus’ exclusive economic zone (EEZ) appears to have discovered another natural gas reservoir, with sources telling the Cyprus News Agency that gas flaring was successfully carried out on Thursday.
The Nigeria Upstream Petroleum Regulatory Commission, NUPRC, said it will soon unveil a new oil bid round during which 12 blocks in the continental shelf and deep offshore will be offered to bidders.
n its avowed bid to drive and grow sustainable investments in Nigeria’s upstream for energy security, national economic development, and return value to all stakeholders, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) on Thursday met in Lagos with members of the Oil Producers Trade Section (OPTS) and Independent Petroleum Producers of Group (IPPG) to fine-tune strategies for the year 2024 and beyond.