Vedanta Oil and Gas Ltd. will invest $5 billion to expand production by more than five times, underscoring India’s push to curb reliance on energy imports.
Ghana’s offshore oil and gas industry is showing renewed signs of recovery after years of declining output, with new drilling activities, planned investments and licence extensions expected to boost production and strengthen the country’s energy security.
Crude oil prices are set for another weekly decline following news that OPEC+ was planning to boost production by another 411,000 barrels daily in July. Meanwhile, a court ruling that blocked Trump’s tariffs has been paused after the White House appealed the decision.
“Results from a University of Texas study on commingling show that commingled production maximizes per-well oil production compared to sequential schemes. Over 30 years, it provides 61% more oil recovery, and over 50 years, it yields 21% more,” the Interior said in a news release.