The joint venture (JV) between Nigeria National Petroleum Co. Ltd. (NNPC) and Chevron Corp. is targeting to reach production of 165,000 barrels of oil per day (bopd) by the end of 2024 after converting their licenses under the terms of the Petroleum Industry Act (PIA)
The Nigerian National Petroleum Company Limited and its joint venture partner, Chevron Nigeria Ltd, have completed the conversion of five joint venture assets in compliance with the Petroleum Industry Act of 2021.
Chinese state-owned oil and gas giant China National Offshore Oil Corporation (CNOOC) has boosted its natural gas reserves with another discovery, which is said to mark the first major exploration breakthrough in ultra-deepwater carbonate rocks off the coast of China.
U.S. offshore oil and gas producers are evacuating staff and halting operations as Tropical Storm Francine looms, expected to become a Category 1 hurricane. The storm threatens significant disruption to production and export facilities, with potential impacts including heavy rainfall, power outages, and flash flooding in the Gulf region.
Equinor and its partners have proven gas/condensate in development well 6406/2-L-2 H, 260 kilometres southwest of Brønnøysund.
Abu Dhabi’s ADNOC has signed a long-term deal for the 1-million-tonne-per-year supply of LNG to Indian Oil, the emirate’s Media Office said on Monday.
State controlled MOL becomes first European company to follow Ukraine’s recommendation to start buying Russian crude on Ukraine’s eastern borders, relieving the country from direct transit deals with Russian suppliers
Despite oil prices being high since 2021, most major African oil producers are not experiencing the trappings of an oil boom, Zainab Usman, a senior fellow and director of the Africa programme at the Carnegie Endowment for International Peace has said.
Nigeria’s state-owned oil firm NNPC Ltd said on Saturday it will not be the sole buyer of gasoline from Dangote refinery but would step in if the facility sold above pump prices.
Crude oil prices began the week with gains as traders took a break after the latest selloff and as a weather system in the Gulf of Mexico could become a hurricane before it makes landfall.