The Guyana-Suriname Basin has emerged as the world’s hottest offshore oil play and with the changes occurring to the global energy mix after Russia’s invasion of Ukraine, the Caribbean is becoming an important player in world oil markets.
Austria is releasing part of its strategic oil reserves to prevent fuel shortages after an incident at one of the country’s refineries
Western Gas said on Monday its Sasanof-1 exploration well off Western Australia found no hydrocarbons, in a big disappointment for one of the most closely watched drilling campaigns in Australia this year.
Oil prices hit $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.
Europe’s extreme dependency on Russian energy products from oil to natural gas is made clear recently from the manner in which they have approached sanctions – with incrementalism, slowly sinking back into the bushes.
The consortium of the world’s largest oil-producing countries agreed to boost fossil fuel production faster than expected Thursday as energy prices rise worldwide due to Russia’s drawn-out war in Ukraine.
For Africa to achieve its energy access, decarbonization, affordability, independence and security goals, women’s participation across the entire oil and gas value chain needs to improve.
African hydrocarbon producing countries are increasing oil and gas licensing rounds to be able to stabilize supply of hydrocarbons in years to come to meet growing energy demand as output in legacy projects declines.
The Deputy Minister of Energy, Andrew Egyapa Mercer, has urged the global business community to direct their interests to Ghana’s ambition of creating the biggest petroleum products hub in West Africa.
Citibank revised its demand growth outlook down by 1.4 million bpd to 2.2 million bpd y-o-y.