Government plans to restart crude oil refining operations at the Tema Oil Refinery (TOR) by the end of this year as part of efforts to cut the nation’s annual USD 10.2 billion oil import bill and conserve foreign exchange while stabilizing local fuel prices.
Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Gbenga Komolafe, on Monday said that the 43 Field Development Plans (FDPs) recorded this year could unlock 1.7 billion barrels of crude and 7.7 trillion cubic feet of gas.
Government plans to restart crude oil refining operations at the Tema Oil Refinery (TOR) by end of this year, as part of efforts to cut the nation’s annual US$10.2billion oil import bill and conserve foreign exchange while stabilising local fuel prices.
Acting Chief Executive Officer of the Ghana National Petroleum Corporation, Kwame Ntow Amoah, has reaffirmed the Corporation’s leadership in revitalising Ghana’s upstream petroleum sector, calling for bold innovation, stronger collaboration and a renewed national commitment to building local competence.
Saudi Aramco has closed the acquisition of a 25% equity stake in Unioil Petroleum Philippines, a fuel storage and distribution company, Unioil announced on Friday.
The Changqing shale oil field in Northwestern China has produced a cumulative 20 million tons of crude, Chinese media reported, noting the amount marks the start of a new phase in domestic oil production.
Two Indian refiners bought a total of 5 million barrels of crude oil from the United States, Iraq, and the UAE on the spot market as they seek alternatives to Russian crude.
Exxon Mobil Corp has signed an agreement to acquire 60 percent in Block 2 in the Ionian Sea, paving the way for drilling in Greece’s “most mature concession”, operator Energean PLC said.
OMV AG and Abu Dhabi Future Energy Co PJSC (Masdar) have signed a binding agreement to form a joint venture for an under-construction 140-megawatt electrolyzer that will produce up to 23,000 metric tons per annum (MMtpa) of hydrogen in Bruck an der Leitha, Lower Austria.
Petroliam Nasional Bhd has expanded its footprint offshore Suriname to eight exploration blocks with the signing of two new production sharing contracts (PSCs).