West Texas Intermediate shed 3.2% to settle below $69 a barrel. The Israeli ambassador to the US said a cease-fire agreement between his country and Lebanon’s Hezbollah could happen “within days.” Brent slid 2.9% to settle near $73.
According to the leading energy company, gas is the immediate solution to many immediate problems in Africa; thus, there is a compelling development case for investment in the resource.
Top government officials as well as oil and gas stakeholders have confirmed to attend the 2024 edition of the Practical Nigerian Content (PNC) Conference and Exhibition slated for the first week of December in Bayelsa State.
GUH says that the forum is helping to bring new technology and innovation to market more quickly, benefiting the operators and creating new opportunities for the supply chain to capitalize on the global subsea IRM (inspection, repair and maintenance) market, worth over £3billion.
Several other hedge funds also recently made changes to their positions in the business. Perritt Capital Management Inc purchased a new stake in Epsilon Energy during the second quarter valued at about $109,000.
Trump handed shale donors their first big return on investment by nominating Liberty Energy Chief Executive Chris Wright, a fracking booster and fossil-fuels champion, to lead the president-elect’s Energy Department.
While it is worth noting that the U.S. is producing more oil and gas than ever before, Trump has repeatedly championed fracking production, promising a boom that will lower energy costs and bolster America’s energy independence.
Global oil prices have retreated from their early-October highs, with market focus shifting from supply risks to concerns about global economic health, sluggish demand, and ample supply.
The Rivers oil terminal represents a historic achievement. Expected to be operational by March 2025, it is widely considered as Nigeria’s first indigenous onshore oil export facility. Once commissioned, this terminal will provide critical support for stranded oil fields in the Niger Delta, and address long-standing logistical bottlenecks surrounding crude production.
Dr Oppong believes the influx of OMCs has created a chaotic environment that makes it nearly impossible for regulators to maintain control.