Rystad: global recoverable oil reserves held largely steady at around 1,500 billion barrels.
The largest downward revisions are seen in Saudi Arabia, where development priorities have shifted from offshore capacity expansions to onshore infill drilling.
Rystad puts OPEC oil reserves well below its officially reported oil reserves of 1,125 billion barrels.
Venezuela has granted two Chinese companies, Anhui Erhuan Petroleum Group and Kerui Petroleum, oil production contracts in the Acema, Oritupano-Leona and Mata fields and in the Ayacucho 2 block in the Orinoco Belt, sources related to the negotiations said July 25.
Europa Oil & Gas (Holdings) PLC has revised up the estimate for unrisked prospective resources in the EG08 block offshore Equatorial Guinea to 2.1 trillion cubic feet equivalent (Tcfe).
Oando Plc, Nigeria’s leading Indigenous energy solutions provider listed on both the Nigerian Exchange Limited and Johannesburg Stock Exchange had announced that Eni has received formal consent from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), for the sale of 100 percent of the shares of Nigerian Agip Oil Company (NAOC) (Acquisition).
Eni has received formal consent from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) for the sale of NAOC Ltd to Oando Plc.Having already obtained all other relevant local and regulatory authorities’ authorizations, this achievement will allow Eni to proceed to with the sale of Nigerian Agip Oil Company Ltd (NAOC Ltd), Eni’s wholly owned subsidiary […]
OIL and gas (O&G) remains a cornerstone of the nation’s economy, generating up to RM300 billion in annual revenue.
UK is among a group of five richer nations which have together issued two-thirds of oil and gas licenses since 2020, according to the IISD
Oil and gas exploration worldwide has surged to the highest level in five years, despite hundreds of nations agreeing to “transition away” from fossil fuels in energy systems at last year’s UN Climate Summit.
Venezuela on Wednesday granted a 20-year license to British energy producer BP and state-owned National Gas Company of Trinidad and Tobago (NGC) to develop the Venezuelan side of a natural gas field that extends into the Caribbean country’s waters.
ExxonMobil is planning a new drilling campaign in Guyana’s Stabroek block and has filed a project summary with Guyana’s Environmental Protection Agency for the Hammerhead development project
Following the results of ongoing drilling campaigns, oil and gas major ExxonMobil could invest as much as $15 billion in Angola’s Namibe basin by 2030. Active in the country for 30 years, the company is developing a series of large-scale oil and gas projects while implementing initiatives to maximize output at producing fields.