The past couple of weeks have seen some good news for oil prices: China is relaxing its zero-Covid rules, the G7 and the European Union launched their price cap and embargo against Russia, and OPEC+ once again undershot its production target by a hefty 2 million bpd
Africa’s oil and gas industry is going to breathe new life into many African economies and will create new opportunities for every many Africans in 2023.
BP is the only fossil fuel firm planning to cut down on oil and gas production by 2030, in spite of efforts to wean the world off the polluting fuels.
The U.S. energy sector has enjoyed bumper profits in the current year, with Big Oil companies setting records left, right and center. And Wall Street is saying the party is set to continue in the coming year.
Shell Upstream Namibia BV, a subsidiary of Shell Plc, is advancing drilling offshore Namibia with delivery of Northern Ocean Ltd.’s Deepsea Bollsta semisubmersible drilling rig.
Nigeria’s crude oil production rose to 1.185 million barrels per day in November 2022, representing the highest output by the country in the past seven months.
Ghana’s quest to transform the structure of her economy from import-driven to a self-sufficient and export-oriented one, has received a boost by a public-private partnership to enhance the agriculture value chain.
Crude oil prices continued climbing higher in early trade today, driven by China’s relaxation of Covid-related restrictions.
Ignoring stamp duty and broker’s fees, if I’d invested £1,000 in Tullow Oil (LSE:TLW) shares at the start of the year, I’d now have £865. Given that the oil price has consistently exceeded $100 a barrel throughout the period, a fall of 13.5% is disappointing.
Russia was shipping more than 3 million barrels per day (bpd) of crude oil to Asia in the week to December 9, the week in which the EU embargo on imports of Russian crude by sea came into force, vessel-tracking data monitored by Bloomberg showed on Monday.