The spate of legal tussles within the petroleum upstream industry poses a real threat to sustainability of the nation’s oil production, say experts.
Russian Deputy Prime Minister Alexander Novak has issued a new warning on a possible cut in the country’s oil production, with his prepared remarks being emailed to media in Moscow.
GEORGETOWN, Guyana, Feb 14, CMC – Suriname President Chandrikapersad Santoki, Tuesday said his Dutch-speaking Caribbean Community (CARICOM) country is open to doing business in all streams of the oil and gas sector as he underscored the importance of the sector to the socio-economic development of the country.
Oil and gas companies had a record year in 2022 and continued to improve their positions in the eyes of investors.
LONDON, Feb 14 (Reuters) – OPEC has raised its 2023 global oil demand growth forecast in its first upward revision for months, due to China’s relaxation of COVID-19 restrictions, and trimmed supply forecasts for Russia and other non-OPEC producers, pointing to a tighter market.
The Chief Executive Officer of Saudi Aramco Amin Nasser has warned that renewable energy won’t be able to replace oil and gas any time soon and that investment in sustainable energy must not come at the cost of investment in hydrocarbons.
French energy giant TotalEnergies SE has put a multi-billion-dollar plan to produce green hydrogen with Adani Group on hold, pending audits of the Indian conglomerate accused of fraud by a U.S. investor.
Declining oil production in many countries and the potential of insufficient crude supply will be a bigger problem for the oil market next year than how demand will evolve, according to the United Arab Emirates (UAE).
The combined income of the global oil and gas industry surged to nearly $4 trillion last year, up from an average of $1.5 trillion in recent years, Fatih Birol, the Executive Director of the International Energy Agency (IEA), said during a conference on Tuesday.
Clean product tanker rates soared last week after the European Union and G-7 nations targeted Russia’s petroleum sales. Restrictions on Russian crude exports began in early December.