Oil falls from 3-month high.
Partial lockdowns in Beijing and Shanghai spark fears of new dip in crude demand
After two years of regular oil discoveries in Guyana, it seems its deep waters may hold even more crude, adding to its reputation as the next big oil-producing state.
The OPEC+ group is currently pumping 2.6 million barrels per day (bpd) of oil below its target, and efforts to boost output per the monthly plans are “not encouraging,” the energy minister of one of OPEC’s top producers, the United Arab Emirates, said on Wednesday.
With the European Union and G7 considering the phasing-out of oil imports from Russia, African oil producers are facing mounting pressure to ramp-up production.
At a time when the world’s gas supply is having to catch up with demand, two prospective gas majors in the eastern Mediterranean have locked horns over a disputed field that could delay the development of local resources.
PGNiG Upstream Norway, a Norwegian subsidiary of Poland’s oil and gas company PGNiG, has been granted consent for exploration drilling in the Norwegian Sea by Norway’s offshore petroleum safety regulator.
The African Energy Chamber (AEC), the voice of the African energy sector, is excited to announce that Gil Holzman, Founder and CEO of Canadian-based oil and gas exploration company Eco Atlantic will join African and international energy market stakeholders in Cape Town at African Energy Week
The boards of directors of Tullow Oil PLC and Capricorn Energy PLC are pleased to announce that they have reached agreement on the terms of a recommended all-share combination of Tullow and Capricorn (the “Combination”) to create the Combined Group.
Although crude oil prices have for months stayed above $100 in the international market, a development rarely seen, it has not had any positive impact on the Nigerian economy
Oil prices hit US$120 a barrel on Monday after Saudi Arabia raised crude prices for July and amid doubts that an increased OPEC+ monthly output target will help ease tight supply.