Saudi Arabia and Russia, the key OPEC+ partners, will be keeping their oil supply cuts in November despite the recent crude oil price rally.
Oil markets lost some of their bullish shine at the start of October, with a strong dollar, worrying economic data out of Europe, and the prospect of another OPEC+ policy change weighing oil prices down.
No fewer than 23 oil blocks managed by both international and local oil companies, which are under crude oil Production Sharing Contracts with the Nigerian National Petroleum Company Limited, failed to produce crude or were inactive, the Federal Government has said.
The Biden administration announced plans last week to expand the Gulf of Mexico waters available to oil and gas drilling as part of the new five-year leasing plan that will take effect in 2024.
U.S. petroleum product exports totaled nearly 6.0 million barrels per day (b/d) in the first half of 2023, 2% more than during the same period in 2022. The first half of 2023 saw the most U.S. petroleum product exports during the first six months of any year in our Petroleum Supply Monthly data, which date back to 1981.
arge swathes of the global oil industry will pledge to eliminate methane emissions and gas flaring by the end of the decade, the president of the COP28 climate summit said.
Africa is yet to see anything close to a full return on its massive oil and gas resources. With one-third of the continent – almost 500 million people – still having no access to electricity, ending energy poverty across Africa is among the planet’s most urgent challenges.
The Ghana Upstream Petroleum Chamber held its annual oil and gas conference and launched the 2023 upstream industry report – a comprehensive up to date documentation on the state of the upstream industry.
Warri — Oil bearing communities in the Niger Delta region have called on President Bola Ahmed Tinubu, to institute a forensic team to audit activities of the Niger Delta Affairs Ministry since its inception some 12 years ago.
Nigeria and other African nations have expressed commitment toward the development of their 620 trillion cubic feet of proven gas reserves, targeted at bolstering energy security, industrialization and environmental sustainability.