Tullow Oil has forecast a capital expenditure (CAPEX) of c.$400Million in three African countries 2023.
The offshore oil and gas sector is set for the highest growth in a decade in the next two years, with $214 billion of new project investments lined up. India has also lined up ambitious plans in this regard.
OPEC is once again the most influential force in global oil supply – and will be so for the foreseeable future – now that U.S. shale production growth is slowing, American industry executives say.
Crude oil prices moved up today after the U.S. Energy Information Administration estimated an inventory draw of 1.7 million barrels for the week to March 3.
Energy shortages could have a more significant impact on the economy than originally anticipated.
According to the IEA, carbon emissions rose by less than initially anticipated in 2022, a development that the Agency puts down to a large increase in clean energy projects.
(WO) – Increased demand for Add Energy’s drilling and well engineering services has led the company to set up a new office in Malaysia, headed up by a former ExxonMobil drilling engineer.
Everyone in the oil and gas industry is now talking about decarbonization and net-zero emissions
‘2022 saw Tullow successfully deliver against our business plan. A high focus on cost control and a disciplined approach to operational efficiency has driven a very strong performance for the year, with group production in line with guidance and expectations, delivering free cash flow of $267 million, lowering net debt to $1.9 billion and reducing cash gearing to 1.3x net debt to EBITDAX.
COP28 President-Designate urges oil and gas sector to increase commitments on global climate action
Dr. Sultan Al Jaber, COP28 UAE President-Designate has emphasized the integral role that the oil and gas industry plays in solving the climate challenge during his keynote remarks at CERAWeek.