Earlier this month, a senior executive from Pioneer Natural Resources predicted higher oil prices later this year. Demand for crude was rising strongly, executive VP Beth McDonald told Reuters last week, but supply was playing catch-up and without much enthusiasm.
ExxonMobil has denied allegations that it illegally lifted Butane at the Bonny River Offshore Terminal (BRT), an offshore terminal in Nigeria.
Saudi Aramco, the world’s largest crude oil exporter, has assured at least five North Asian refiners they would get the full crude volumes they had asked for in July, even after the production cut Saudi Arabia announced last week, sources familiar with the plans told Reuters on Monday.
Kurdistan’s oil export is yet to resume through the Turkish pipeline, 75 days after it was blocked following the ICC’s arbitration court’s decision issued on March 23, 2023, only two days after Kurdish New Year holidays known as Nawroz.
Nigeria produced the most crude oil, followed by Algeria and Angola. Nigeria, Angola, and Algeria have three of the ten largest crude oil fields in Africa in terms of production in 2022.
The UK government has announced new oil and gas tax changes, which it says are set to protect energy security and British jobs.
U.S. energy firms this week cut the number of oil and natural gas rigs operating for a sixth week in a row for the first time since July 2020, energy services firm Baker Hughes Co BKR.O said in its closely followed report on Friday.
Kenya has expressed interest in strengthening bilateral relations with Angola across various fields including energy, agriculture and trade.
Italian company Eni has authorization to start works in the Ivory Coast Baleine–or Whale–oil and gas field in the second half of the year, according to a government statement read on state-run Radio Television Ivoirienne on Friday.
The primary exploration target for wells 25/2-24 S and A was to prove and delineate remaining petroleum deposits in the Frigg Formation in the Øst Frigg Beta structure, which produced gas from 1988 to 1997.