Premised on expectation that oil prices are likely to remain stable, RHB Research favours oil and gas (O&G) companies with exposure to upstream and those that have international diversification.
A surge in new oil and gas production in 2024 threatens to unleash nearly 12bn tonnes of planet-heating emissions, with the world’s wealthiest countries – such as the US and the UK – leading a stampede of fossil fuel expansion in spite of their climate commitments, new data shared exclusively with the Guardian reveals.
Despite cutting off most European customers from its pipeline natural gas supply, Russia still sends nearly the same volumes of gas to Europe via pipelines as it does to its key new energy market China, according to Bloomberg calculations based on gas flows.
As Dangote’s refinery struggles to secure domestic crude, allegations of price gouging and supply obstruction by international oil companies raise questions about Nigeria’s oil market.
Africa’s largest refinery, the Dangote facility in Nigeria, is actively seeking crude oil supplies from Libya and Angola. This move comes as the refinery faces difficulties obtaining adequate domestic crude due to theft, pipeline vandalism, and low investment in Nigeria’s oil sector.
Egypt’s natural gas production has tumbled to its lowest point since February 2018, as per a recent data from the Joint Organisations Data Initiative (JODI), reported by Bloomberg. This significant decline could compel the North African nation to transition from being an exporter of natural gas to increasingly depending on Liquefied Natural Gas (LNG) imports.
The National Petroleum Authority (NPA) has signed an agreement with Senegal and The Gambia for the importation of petroleum products from Ghana.
The recent ruling by an international tribunal in a case brought against Ghana by ENI and Vitol is big news for all industry watchers in the upstream petroleum sector.
In an exclusive interview, Diana Furchtgott-Roth – Director, Center for Energy, Climate, and Environment, and The Herbert and Joyce Morgan Fellow in Energy and Environmental Policy, at the Heritage Foundation – told Rigzone that oil demand will never peak.
PetroChina, a unit of the state-owned China National Petroleum Corporation, has become one of the 53 signatories of the Oil and Gas Decarbonisation Charter (OGDC), according to Emirates News Agency (WAM).