The oil and gas industry is a dynamic and ever-evolving sector that has seen a lot of changes in recent years.
In its latest Oil Market Report, the International Energy Agency forecast that global oil demand would hit 102 million barrels daily, driven by China, whose oil demand, according to the IEA, reached 16 million bpd two months ago.
Nigeria’s oil and gas industry experienced historic crises throughout 2022 as the sector struggled with severe crude thefts and pipeline vandalism constraining output, but will do relatively well this year, a new report has said.
Russia logged a nearly 50% drop in oil and gas revenue in January, contributing to a wider budget deficit.
Last year was a rough year for the relatively new green energy industry, with high interest rates in a financing-heavy sector
In its latest forecast, the IEA has projected demand to rise by 1.9 million barrels per day to 101.7 million barrels per day (bpd) this year
Over the past three years, the majority of U.S. energy companies have avoided spending big to expand production in the aftermath of the 2020 oil crisis, prioritising returning more cash to shareholders in the form of dividends and share buybacks.
Cementing Africa’s upstream revival, 2023 will see the launch of several multi-well drilling campaigns across the southern and western parts of the continent.
With the global energy transition underway, the sixth edition of the Egypt Petroleum Show (EGYPS) returns to Cairo from February 13-15 2023 at the Egypt International Exhibition Center to propel the dialogue on energy security and climate action through collaborative industry efforts.
Drivers may have another rough year at the pump as McMaster Professor of economics Aitf Kubursi says the instability of oil and gas prices isn’t changing anytime soon.