While the upstream mega deals in the U.S. shale patch have been drawing the most market attention, pipeline operators are also embarking on a merger spree in a quest to add scale, optimize assets, and gain more exposure to export markets.
Last month, U.S. oil and gas supermajor Exxon Mobil Corp. (NYSE:XOM) released its long-term global energy outlook report. Exxon has predicted that global energy demand will reach about 660 quadrillion Btu in 2050, good for a 15% increase from 2021 levels reflecting a growing population and rising prosperity.
Ghana’s top oil regulator expects the country’s long-delayed natural gas-import terminal to be completed by the end of the year, despite numerous setbacks.
Saudi Arabia’s crude production increased to 8.94 million barrels per day in December 2023, a monthly rise of 1.43 percent, according to a Joint Organizations Data Initiative study.
The analysis revealed the Kingdom’s crude exports in December declined by 28,000 bpd to 6.3 million bpd, a 0.44 percent decrease from November.
Integrated data and insight from upstream to downstream to support the oil refining and distribution supply chain
Exploration and production of crude oil and natural gas has existed for over a century and remains central in today’s energy and feedstock mix. As demand for transportation fuels, petrochemicals, and energy continues to increase, so does the need for efficient and sustainable offshore and onshore oil and gas production.
Benchmark Energy II, which is majority owned by Acacia Research, has agreed to acquire certain upstream assets and related facilities in Texas and Oklahoma, US, from an undisclosed private seller.
Crude oil futures were higher in midmorning Asian trade Feb. 21 amid mounting geopolitical tensions, with investors eyeing the release of the US Federal Reserve’s latest monetary policy minutes later in the global day.
Energy Minister, Dr. Matthew Opoku Prempeh is in Trinidad and Tobago with officials of the upstream petroleum regulator, Petroleum Commission (PC), Bulk Energy Storage and Transportation Company (BEST) and GOIL PLC to gain insights into best practices, explore advanced technologies and identify potential partnerships.
In recent news from Africa, particularly Nigeria, the spotlight once again falls on Nigerian President Bola Tinubu, who finds himself embroiled in allegations of nepotism and controversy. The latest uproar stems from Tinubu’s recent shake-up within Nigeria’s Federal Housing Authority, raising questions about his choices and their qualifications.