Nigeria’s oil production in the month of December 2022 grew by 4.2 per cent month-on-month to 1.23 million barrels per day but remained significantly short of the 1.8 million barrels per day allocated to the country by the Organisation of Petroleum Exporting Countries, OPEC.
Aker Solutions has secured an engineering, procurement and construction (EPC) contract from Altera Infrastructure for the complete upgrade of a floating production storage and offloading vessel (FPSO) to be redeployed at an Equinor-operated oil and gas field offshore UK.
Oil prices climbed on Monday as the borders reopened in China, the world’s top crude importer, boosting the outlook for fuel demand growth and offsetting global recession concerns
Russia’s President Vladimir Putin signed a decree on countermeasures against the G7 oil price cap at the end of 2022.
After shedding 8% last week, crude oil prices are trading up over 1.7% by midday Monday.
The Nigerian Upstream Petroleum Regulatory Commission has revealed that crude oil production in Nigeria rose to 1.235 million barrels per day in December 2022, representing the highest output since March when the country produced 1.237mbpd.
It took less than 20 years for Somoil to become one of Angola’s largest private oil companies, but the company is hardly resting on its laurels.
Oil markets have been relatively quiet this week, with muted trading in both Europe and the Americas ahead of Christmas.
It has long been a point of extreme contention with the U.S. that Iraq continues to rely on neighbouring – sanctioned – Iran for around 40 percent of its power supplies, constituted in large part by imports of gas.
We know that historically, many economies around the world have collapsed. We also know that there is a physics reason why this happens. Growing economies require a growing supply of energy to keep up with a growing population. At some point, the energy supply and other resource needs cannot grow rapidly enough to keep up with population growth. When this happens, economies tend to collapse.