The American Petroleum Institute (API) estimated that crude oil inventories in the United States saw a large build of 4.4 million barrels in the week ending November 14. Crude oil inventories gained 1.3 million barrels in the week prior.
TotalEnergies SE agreed to buy a 50 percent stake in a portfolio of European power assets for about EUR 5.1 billion ($5.9 billion), expanding in the sector even as some major oil and gas peers retreat.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC), as part of its strategic initiative to raise national crude production to 2.5 million barrels per day (bpd) by 2026, has revealed plans to reactivate dormant oil fields in the country.
A big boost for Nigeria’s oil and gas production could be on the way, after Conoil and TotalEnergies signed a major production deal in Paris.
Government says it is undertaking comprehensive regulatory reviews in the downstream petroleum sector, including moves to introduce a new National Petroleum Authority (NPA) Act to align the industry with current market realities.
Government has reaffirmed its determination to halt the country’s
half-decade decline in oil production, announcing more than
US$3.5billion in new investment commitments as the national oil
company (NOC) prepares to begin offshore drilling in late 2026.
Parliament on Tuesday, adopted a report for the review of the Petroleum Revenue Management Act, Act 815 to allow government to invest Ghana’s petroleum revenues in areas that deliver maximum earnings.
Ghana’s 2026 budget, spearheaded by President John Mahama, places a strong emphasis on revolutionising the nation’s energy sector. The ambitious plan aims to deliver more reliable, affordable, and sustainable electricity to both businesses and households, creating a bedrock for economic growth and improved living standards. This transformation hinges on strategic shifts in fuel sources, increased domestic gas production, and substantial investments in new infrastructure
This initiative will utilize domestic coal. Projects are expected to commence in FY27. The synthetic gas will power NTPC’s plants and be sold externally. This move supports India’s goal to reduce LNG imports and enhance energy security.
Global oil and gas demand could grow until 2050, the International Energy Agency said today, departing from its previous expectations of a speedy transition to cleaner fuels and predicting that the world will likely fail to achieve climate goals.