U.S. oil and gas rigs are down by 14% over the last year, a showing of supplies tightening as oil prices climb higher as demand soars.
New data shows the oil and gas industry’s contract value saw a “significant” rise Q2 2023, mainly driven by work on Qatar’s North Field South (NFS) project.
The Association of the Petroleum Industry of Kurdistan, which represents companies including DNO, Genel Energy, Gulf Keystone Petroleum, HKN Energy and ShaMaran Petroleum, have called on Baghdad and Erbil governments to honor their contractual rights amid talks to draft a new oil and gas bill.
Nigeria’s crude oil output slumped to a three-month low data from the Nigeria Upstream Petroleum Regulatory Commission (NUPRC) and Organization of Petroleum Exporting Countries (OPEC) reveals.
Amidst a prevailing backdrop of bearish sentiments for many commodity markets throughout this year, there has been an expectation of a resurgent Chinese economy to kickstart another demand cycle and boost prices. However, China’s latest economic indicators to be published cast doubt upon the realization of this much-anticipated revival. In this week’s article, we will look at this latest round of data, the current implications on commodity prices and how this situation may develop in the near future.
Crude oil prices slid in midmorning Asian trade on Monday as China’s economic recovery continues to disappoint while the U.S. dollar strengthens.
The vice-president of Guyana, Bharrat Jagdeo, has declared that his country is committed to building stronger ties with Ghana, especially in the hydrocarbons sector, for the mutual benefit of the two peoples of Ghana and Guyana.
The Auditor General has disclosed that the failure to impose penalties on oil companies for delayed payment of surface rental has resulted in a loss of more than $8.3 million in revenue.
Nigeria’s oil production in the month of July 2023 fell by 13.6 percent to an average of 1.08 million barrels per day compared to 1.25mbpd recorded in June, latest production data from the Nigerian Upstream Petroleum Regulatory Commission, NUPRC, has indicated.
Kazakhstan has announced a plan to find new operators for five oil and gas fields and six exploration blocks in the Aktyubinsk, Mangistau, West Kazakhstan and Atyrau regions, in an online auction on 20 October.