The primary exploration target for wells 25/2-24 S and A was to prove and delineate remaining petroleum deposits in the Frigg Formation in the Øst Frigg Beta structure, which produced gas from 1988 to 1997.
WTI Midland, the light sweet US grade, is being blended with heavy Brazilian grades to produce a cheaper Nigerian lookalike, which is undercutting the Nigerian crude grades in Europe and pushing down buying interest for Nigerian cargoes, multiple trading sources told S&P Global Commodity Insights.
Nigeria’s crude oil production has dropped below 1 million barrels per day, according to an Organisation of the Petroleum Exporting Countries report.
The last time Nigerians benefited from their country being an oil producer was during the post-civil war years under General Yakubu Gowon.
Libya’s Oil and Gas Minister Mohamed Aoun to Lead E&P Dialogue During African Energy Week (AEW) 2023
Following several disruptions to oil and gas activity in recent years, Libya’s energy sector is on the cusp of a transformation with new fields being brought online, production accelerating across key assets and upstream campaigns unlocking new finds in untapped acreage.
The Northern Regional Security Council (REGSEC) has given the firmest assurance yet about its resolve to maintain the present stability in the region, as the Ghana National Petroleum Corporation (GNPC) prepares to begin drilling an oil and gas exploration well in the Voltaian Basin next year.
South Korea asked for Azerbaijan’s support Wednesday for its companies seeking to take part in major energy and other industry projects in the European nation, the industry ministry said.
The Multi-Stakeholder Group (MSG) of the Ghana Extractive Industries Transparency Initiative (GHEITI) has today, formally launched the country’s 2020 Mining and Oil/Gas EITI reports, published on December 31, 2022.
An Ad-hoc Committee that was set up by the House of Representatives to investigate the alleged loss of over $2.4bn in revenue from the illegal sale of 48 million barrels of Crude Oil in 2015 including crude oil exports from 2014 to date has cleared the Nigerian National Petroleum Company Ltd of any wrongdoing.
U.S. crude oil production could gain 720,000 barrels daily this year, up from a previously forecast growth rate of 640,000 bpd, according to the latest edition of the Energy Information Administration’s Short-Term Energy Outlook.