Egypt’s oil and gas sector is poised for growth, according to statements made by Minister of Petroleum and Mineral Resources Tarek El-Molla. The Minister highlighted the country’s promising potential and significant reserves, which can be leveraged to attract further investment and boost production.
Chinese offshore oil and gas major said it had filed an arbitration claim to establish a right over Hess’ stake in the giant Guyana oilfield Stabroek in the event of the U.S. firm’s sale to Chevron.
The Oklahoma Corporation Commission’s Petroleum Storage Tank Division is set to hold its annual Industry Roundtable Meeting.
Carbon-free electricity generated at nuclear power plants could aid Michigan’s goal of having 100% of its electrical generation from clean sources by 2040, but not without consideration of issues such as the significant expense of new nuclear power, unresolved questions about nuclear waste disposal, and siting challenges, according to a Nuclear Feasibility Study presented to the Michigan Public Service Commission and conducted at the behest of the Michigan Legislature.
On February 10th, 2024, Sudan announced a force majeure on South Sudan’s crude oil exports, citing restricted access to oil operations caused by ongoing military activity.
The UN’s Cop 29 climate summit in Azerbaijan will focus on speeding the delivery of goals set at Cop 28 as well as expanding and adding new solutions for the integration of renewables.
The US Energy Information Administration raised its Brent crude price forecast due to OPEC+ production cuts and falling oil outputs. Still on falling oil outputs, Ghana is facing an economic crisis because of diminishing foreign exchange reserves and high fuel prices. Meanwhile, S&P Global Commodity Insights editors are focusing on the price hikes for hot-rolled coil amid multiple mill outages.
Eni SPA has set a target net capital expenditure of EUR 7 billion ($7.6 billion) yearly from 2024 to 2027, down more than 20 percent compared to last year’s plan.
It was a week when oil prices surged to the highest levels in four months, while natural gas futures continued the southward journey.
U.S. oil and gas exploration and production companies spent as much as $234 billion on mergers and acquisitions (M&A) last year—the highest such spend in real dollar terms since 2012, the Energy Information Administration (EIA) said in an analysis on Tuesday.