Crude oil prices moved higher today, after the U.S. Energy Information Administration reported an inventory draw of 1.8 million barrels for the week to November 22
The 29th Conference of the Parties for Climate Change, commonly known as COP29, ended with outrage and dismay—emotions demonstrated by developing nations after developed ones agreed to raise annual climate finance but nowhere near what was asked for. But there was outrage among climate activists, too. Because, once again, the world refused to commit to a phaseout of hydrocarbons.
The fastest drawdown in gasoline inventories for this time of year since 2010 attracted managed money into the NYMEX gasoline futures, which were one bullish bet among investors in the petroleum complex.
A keen admirer of Abe, Bessent put forward the three targets of 3% economic growth, cutting the budget deficit by 3% of GDP by the end of the administration and “Three million more oil barrels equivalent a day from U.S. energy production”.
Political instability remains a major challenge for foreign energy and mining companies operating in Africa. The oil and gas multinational divestment from the Niger Delta that kicked off over a decade has now hit fever pitch, with hordes of oil and gas majors exiting the Nigerian market.
The Nigerian National Petroleum Company (NNPC) Ltd on Tuesday announced that it has began operation of the Port Harcourt Refinery and delivering petroleum products onto the market.
The Republic of Morocco was the only African and Arab country to have a booth, at the International Atomic Energy Agency’s Ministerial Conference on Nuclear Science, Technology and Applications and the Technical Cooperation, held in Vienna on November 26-29, 2024.
pringfield Exploration and Production (SEP) Limited and its partners, Ghana National Petroleum Corporation (GNPC) and GNPC EXPLORCO, have completed the appraisal well test activity for the Afina discovery.
The 2024 semi-annual report of the Public Interests and Accountability Committee revealed the corporation had not set aside funds to support its operations after a 15-year timeline expiration.
President-elect Trump’s pro-energy agenda includes fast-tracking permits for stalled LNG projects, reversing Biden-era regulatory pauses and increasing leases on federal land for gas production.