Total global recoverable oil reserves now stand at 1,624 billion barrels, according to Rystad Energy research, an increase of 52 billion barrels from our last year’s estimate.
The European Union is on track to fill up its natural gas storage facilities ahead of schedule, Rystad Energy has forecast.
The Democratic Republic of the Congo’s Hydrocarbons Minister Didier Budimbu and his Angolan counterpart Diamantino Pedro Azevedo have agreed to sign the Memorandum of Understanding (MoU) for the development of Block 14 on July 13 in Kinshasa.
Nigerian authorities and Shell’s local subsidiary were on Monday investigating the cause of an oil spill on the Trans Niger pipeline that lasted several days.
NEW YORK CITY – In its latest Offshore Oracle report, Evercore ISI commented that “our bullish view about the offshore markets was already strong,” and key data points offered by SLB in a recent investor presentation in New York City “further validated our viewpoint.”
The government last week released the bill which is intended to replace the Petroleum (Exploration and Production) Act 1986 and a two-week period for comments was set aside, Yesterday, a statement from the Office of the Opposition Leader, raised several reservations and said more detail will be provided when the legislation is presented to the National Assembly.
The Petroleum Commission, a regulatory body responsible for Ghana’s petroleum industry, says a total of 3,759 Ghanaians are currently employed in the Upstream Petroleum Sector out of 4,147 workforce, of which 388 are expatriates.
Indonesia’s state energy company Pertamina has secured around $3.1bn in financing to fund the upgrade of the Balikpapan refinery on Borneo Island in East Kalimantan, to strengthen national energy resilience.
Petrofac has issued the following pre-close trading update for the six months ending 30 June 2023.
Europe’s benchmark natural gas prices continued to rise early on Tuesday as weather forecasts suggest that most of northwest Europe, the biggest consumers of gas, will see a hotter-than-usual start to the summer, at least until the middle of July.