Oil Drilling and Energy Policy in Focus

In a victory speech following the close of the Iowa Caucuses last night, the first electoral event of the U.S. Republican Party’s 2024 primary race, former President Donald Trump’s first order of business was a promise to “drill, baby, drill — right away” if re-elected. The priority given to concerns regarding the U.S.’s energy output by the Republican frontrunner appeals to Americans’ frustration with relatively elevated oil prices and an expectation that they will rebound again in the near future.

Oil Lobby Warns Biden About Anti-Oil Policies

API President: “American voters are watching.”.
The Biden administration had indeed been busy trying to curb oil and gas exploration as much as possible, with the culmination coming late last year when the federal government held the last oil and gas lease sale in the Gulf of Mexico for the next two years.
At the same time, however, the White House gave the go-ahead to the Willow oil project in Alaska.

Norway To Boost Oil and Gas Exploration 

Norway has been betting on the continued development of its oil and gas resources and has raised its natural gas production over the past year.
Overall, Norway’s oil and gas production was slightly lower than expected in 2023, largely due to unplanned and extended maintenance shutdowns at multiple fields.
Investments in 2023 and 2024 are rising more than expected at this time last year due to high activity, a weaker Norwegian currency, and growing cost.

Parliament Ratifies Ghana’s Membership To African Petroleum Producers’ Organisation

Parliament on Tuesday ratified Ghana’s membership to the African Petroleum Producers’ Organisation (APPO).

The APPO (formerly called the African Petroleum Producers’ Association) was established on January 27, 1987, to serve as a platform for cooperation and harmonization of efforts, collaboration, sharing of knowledge and expertise among African oil-producing countries.