With over 125 billion barrels of crude oil reserves and 620 trillion cubic feet of natural gas – estimates that are expected to further increase as multi-year exploration campaigns yield new discoveries – Africa is well-positioned to usher in long-term and sustainable economic growth on the back of hydrocarbon development.
From 2022 to 2030, Offshore Drilling Rigs Market is anticipated to expand at a CAGR of 6.63%. Within the projection period, the Offshore Drilling Rigs Industry Revenue is anticipated to increase to USD 147.7 Billion.
The government of Uganda has approved construction of a crude pipeline project worth US $3.5bn. The country’s cabinet approved the application to construct the pipeline by the East African Crude Oil Pipeline Company Ltd (EACOP).
The Chamber of Petroleum Consumers, Ghana (COPEC) says the price of petroleum products may see a decline if the oil secured by government is distributed this week.
The shift away from a carbon-based economy risks stranding a large number of assets, particularly in sectors with high financial market exposure, such as oil and gas.
Oil & Gas Middle East is pleased to announce that the the nomination deadline for the 13th Oil & Gas Middle East Awards has been extended until Friday, 27 to allow more time for nominees to pull together their submissions.
In its latest forecast, the IEA has projected demand to rise by 1.9 million barrels per day to 101.7 million barrels per day (bpd) this year
Over the past three years, the majority of U.S. energy companies have avoided spending big to expand production in the aftermath of the 2020 oil crisis, prioritising returning more cash to shareholders in the form of dividends and share buybacks.
The National Energy Crisis Committee (NECOM) has today, 21 January 2023, released a six-month progress update on implementation of the Energy Action Plan.
According to Robert Säverin, spokesman for the Federal Ministry of Economic Affairs and Climate Action, Germany sees significant potential in cooperation with Kazakhstan in the area of green energy, Azernews reports.