Energy | GUPC

Shell to Sell Nigerian Onshore Assets to Consortium: African Energy Chamber ) Calls for …

Energy‚ Oil & Gas‚ Oil and Gas Industry | intent | January 19, 2024 | Comment off

British multinational oil and gas company Shell has decided to sell The Shell Petroleum Development Company of Nigeria Limited (SPDC) – which owns onshore oil assets in Nigeria’s Niger Delta region – to a consortium comprising mostly local energy players ND Western, Aradel Holdings Plc, First E&P, the Waltersmith Group, Petroleum Development Company Limited and Petrolin. The transaction is measured at $1.3 billion, with further payments of up to $1.1 billion set to be made. The sale will come into effect following the relevant approval from government.

Shell’s $2.4bn asset sale spotlights local firms

Energy‚ Oil & Gas‚ Oil and Gas Industry | intent | January 19, 2024 | Comment off

The decision by Shell, a global energy giant, to exit its onshore business in Nigeria has sent shockwaves through the country’s oil and gas industry, casting a spotlight on local firms and raising questions about the future of the industry.

Red Sea crisis could impact gas prices nationwide

Energy | intent | January 18, 2024 | Comment off

Some industry experts believe conflict in the Middle East may cause gas prices in the U.S. to increase over the next six months to a year.

Report Shines Light on Offshore Oil and Gas Health and Safety

Energy‚ Oil & Gas | intent | January 17, 2024 | Comment off

Offshore oil and gas companies should expect continued scrutiny of their health and safety practices in 2024 despite a recent report suggesting that the industry has never been safer to work in, experts say

Talos Energy to acquire QuarterNorth Energy for $1.29 billion

Energy‚ Oil & Gas | intent | January 17, 2024 | Comment off

Talos Energy Inc. has agreed to acquire QuarterNorth Energy Inc., Houston, for $1.29 billion. The deal would add about 30,000 boe/d from offshore US Gulf of Mexico assets for full-year 2024, averaging about 75% oil from about 95% operated assets.

Natural Gas Is Set to Play a Major Role in the Energy Transition

Energy‚ Oil & Gas | intent | January 16, 2024 | 0 comment

At the COP28 summit in Dubai, nations agreed to move away from fossil fuels.
Natural gas, labeled a “transitional fuel” at the conference, is experiencing a surge that is unlikely to slow any time soon.
Despite having a cleaner image than other fossil fuels, there are still concerns over the environmental impact of expanding the natural gas industry.

Decision time for oil and gas companies in 2024

Energy‚ Oil & Gas | intent | January 15, 2024 | Comment off

The corporate oil and gas sector faces a year of big decisions in 2024. Consolidation will remain in the spotlight as companies position to build scale and strengthen sustainability through the energy transition. Growth will make a comeback. But companies will not put their financial strength at risk in what threatens to be a turbulent year.

China Reports Record Oil and Natural Gas Production in 2023

Energy‚ Oil & Gas | intent | January 12, 2024 | Comment off

China achieved record-breaking crude oil and natural gas production in 2023, with unconventional gas contributing significantly to the overall figures.
Despite fluctuations in demand and some disappointment among analysts, both domestic production and imports of energy commodities reached historic highs.
While Chinese oil demand growth may slow in the future, its natural gas demand growth is likely to remain robust as it increases the use of natural gas in power generation

Indonesia Extends Contract for Petronas’ Ketapang Block

Energy‚ Oil & Gas‚ Oil and Gas Industry | intent | January 11, 2024 | Comment off

Petroliam Nasional Sdn. Bhd. (Petronas) has received a 20-year extension to its production sharing contract (PSC) for the Ketapang block from Indonesia’s Energy and Mineral Resources Ministry.

Dangote refinery set to begin commercial production

Energy‚ Oil & Gas‚ Oil and Gas Industry | intent | January 11, 2024 | Comment off

Dangote Refinery and Petrochemicals Co. has received all crude oil supplies necessary to begin commercial production of finished products at the recently commissioned 650,000-b/d refining and petrochemical complex in southwestern Nigeria.