“Three decades from now the vast majority of energy will come from hydrocarbons.” This prediction was made earlier this week by Chris Wright, chief executive of Liberty Energy, the second-largest fracking services provider in the U.S.
Despite sanctions and pledges to stop buying Russian crude, the country’s oil output has continued to exceed expectations.
China has locked down the city of Chengdu, beginning today, as the latest demonstration of its zero-Covid strategy.
The U.S. Fifth Circuit Court of Appeals in New Orleans on Tuesday upheld a US $14.25 million judgment against Exxon Mobil Corp for pollution from its Baytown, Texas, refining and petrochemical complex.
The Vice Chairman of the Public Interest and Accountability Committee (PIAC), Nasir Alfa Mohammed, has said the existence of the committee has impacted positively on petroleum revenue management (PRM) in the country in the past 11 years.
The upstream petroleum industry awarded contracts worth US$3.6billion to indigenous companies over the last three years, thereby deepening the local content policy.
Oil prices fell Tuesday on fears that an inflation-induced weakening of global economies would soften fuel demand, and as Iraqi crude exports have been unaffected by clashes
“The European energy sector right now is cracking at the seams. Without the contribution of UK oil and gas resources, that crack would be a gaping hole,” said OEUK Sustainability Director Mike Tholen.
While energy prices are still below their most recent highs, they’ve been ticking upward again more recently.
Oil prices dipped on Tuesday, paring some gains from the previous session, as the market feared that more aggressive interest rates hikes from central banks may lead to a global economic slowdown and soften fuel demand.