Democratic Republic of Congo will offer 27 oil blocks and three gas blocks, nearly double as many as previously planned, in a licensing round next week, the hydrocarbons ministry said on Monday.
The United States believes that OPEC’s Middle Eastern producers have room to boost production and will take “a few more steps” to boost supply to the oil market soon, according to Amos Hochstein, the special presidential coordinator for international energy affairs.
Saudi Arabian officials on Saturday stressed the need for more upstream investment to resolve oil market pressures, saying that the kingdom would add some oil production capacity but has limits.
Indonesia’s oil and gas lifting in the first half was below expectations due to disruption in some facilities and delayed projects, putting it on course to miss full-year 2022 targets, officials at upstream regulator SKK Migas said on Friday.
Over the past years, Russia has expressed heightened interest in exploring and producing oil and gas in Africa.
Oil futures have undergone immense battering recently as fears of a recession come into full force.
Big Oil majors in the United States have found themselves the target of much pressure to boost production lately, as prices go wild amid a tight—and tightening—market.
Oil giant, Tullow Oil, is expecting to rake in $200 million in free cash flow at an average oil price of $95 a barrel in 2022.
The Ghana National Petroleum Corporation (GNPC) has officially commenced the decommissioning of the Mr. Louie Platform in the Saltpond oil field.
Oil giant Tullow Oil is expecting to rake in $200 million in free cash flow at an average oil price of $95 a barrel in 2022