“OPEC’s output is still undershooting the targeted amount by almost 800,000 bpd mainly because Nigeria and Angola lack the capacity to pump as much as their agreed level.”
In Ghana’s asymmetrical inland sedimentary basin covering about 40% of its continental landmass, lies the Ghana National Petroleum Corporation (GNPC)s exploratory mission to find Ghana’s newest hydrocarbons reserve which has so far indicatively proven to wield great potential to replenish the country’s petroleum resource fields with projections setting drilling activities in 2024.
The Presidency has directed the Federal Ministry of Petroleum Resources to suspend its activities on the constitution of a committee to audit the account of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
An oil theft situation assessment delegation deployed in the Niger Delta by President Bola Tinubu discovered an illegal oil connection on Saturday.
Finance Minister Zbyněk Stanjura said on Czech Television on Sunday that the finance ministry is looking to reduce its support for renewable energy sources, possibly by changing the law to limit subsidies
Nigeria still losing 400,000 barrels of crude oil daily – NSA
27th August 2023
Ribadu
Ribadu while addressing newsmen during an inspection of oil and gas facilities at Owaza in Abia and Odogwa in Etche Local Government Area of Rivers on Saturday. Photo: NAN.
Agency Report
The National Security Adviser, Malam Nuhu Ribadu, says the country is still losing 400,000 barrels of crude oil daily to local and international thieves despite efforts to end the menace.
Iraq’s state-owned Basra Oil Co said that French oil major TotalEnergies has activated its four investment contracts involving oil, gas, renewable energy and seawater desalination projects.
Global oil major BP said the world must invest in the production of oil and gas to avoid to sharp price spikes while accelerating the energy transition to combat greenhouse gas emissions
A new report and analysis from Westwood Global Energy Group (Westwood), the specialist market research and consultancy firm, indicated a positive outlook for the Nigerian oil and gas sector, following a decade of unmet potential.