Russia has failed so far to cut its oil production by 500,000 barrels per day (bpd) as promised, and it may even be looking to boost output to compensate for lost revenues, the International Energy Agency (IEA) said on Tuesday.
Europe’s mad dash to build LNG import terminals could result in an excess number of regasification projects by the end of the decade if the EU manages to continue reducing natural gas consumption and accelerates the rollout of wind and solar power capacity.
Major Indian natural gas importers are discussing long-term supply deals with the biggest LNG exporting countries to lock in future supply and avoid volatility and uncertainty in case of spot price spikes, traders and executives tell Bloomberg.
Nigeria’s oil production in April fell to less than 1 million barrels per day, indicating that feedstock could pose a challenge to the Dangote Refinery. Without a licence to operate yet acquired due to outstanding technical work, the refinery may not be an elixir to petrol shortages in the short-term. The commission is shaping out […]
The Deputy Managing Director, Deepwater Asset, TotalEnergies Upstream Nigeria Limited (TUPNI), Victor Bandele, has expressed appreciation to the Group Chief Executive Officer (GCEO), Nigerian National Petroleum Company (NNPC) Limited, Mele Kyari, over his intervention that unlocked 30,000 barrels per day of new oil from the Egina and Akpo fields expected before the end of the year 2023.
The North Sea Transition Authority (“NSTA”) has announced that Britain’s first oil and gas exploration licensing round since 2019 attracted 115 bids from 76 companies.
When oil and gas wells are no longer in use, operators are required to seal them up to prevent leaks.
Venezuela’s state oil company PDVSA has got new management that plans to boost production of crude to 1.17 million barrels daily by the end of the year, Reuters has reported, citing an internal document.
Angola’s oil and gas sector is witnessing an accelerated pace of new investments over the past few months thanks to the rising oil prices, Deutsche Bank said in a new report.
The global oil and gas industry will require $600 billion to achieve its target of cutting emissions this decade, which is only a fraction of the record windfall income that producers accrued in 2022, according to International Energy Agency.