The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) on Wednesday denied granting clearance for Shell PLC’s sale of its onshore subsidiary to a local player.
Namibia, once considered a frontier market in the energy sector, is rapidly emerging as a potential oil powerhouse. Recent discoveries in the country’s offshore Orange Basin, particularly the Venus and Graff discoveries, have attracted significant attention from international oil majors, raising hopes of a transformative economic impact. However, several factors, including geopolitical considerations and the financial viability of extraction, will play a crucial role in determining the success of Namibia’s oil ambitions.
Uganda plans to issue new oil and gas exploration licences in the fiscal year beginning in July 2025, Reuters reported on Wednesday.
Aramco’s agreement with Hengli Group enables talks for a potential 10 percent stake acquisition
Oil prices climbed 2% early Thursday morning as Tropical Storm Francine landed on the coast of Louisiana.
Abu Dhabi’s Supreme Council for Financial and Economic Affairs (SCFEA) awarded Indian Oil Corporation (IOC) and Bharat Petroleum Corporation Limited’s (BPCL) joint venture, Urja Bharat Pte Limited (UBPL), an oil and gas production licence for Onshore Block 1, BPCL announced on Wednesday.
Transocean has been awarded a USD 232-million contract from BP for the Deepwater Atlas drillship to carry out works in the US Gulf of Mexico, the company said on Wednesday.
OPEC on Tuesday cut its forecast for global oil demand growth in 2024 reflecting data received so far this year and also trimmed its expectation for next year, marking the producer group’s second consecutive downward revision.
Abu Dhabi’s national oil company ADNOC is expected to soon make a formal offer to buy Germany’s chemicals giant Covestro for $15.9 billion (14.4 billion euros) including debt, the Financial Times reported on Wednesday, citing sources with knowledge of the plan.
Exxon Mobil (XOM.N) has pulled out of the race to buy half of Galp Energia’s (GALP.LS) stake in a large oil discovery in Namibia that has attracted interest from top energy companies, sources with knowledge of the matter said.