Despite higher oil prices and narrower discounts of Russian crudes to international benchmarks, Russia remained the single largest crude oil supplier to China in July, ahead of its OPEC+ partner Saudi Arabia, according to Chinese customs data.
Oil prices rose on Monday as global supply is tightening with lower exports from Saudi Arabia and Russia, offsetting nagging concerns about global demand growth amid high interest rates.
Nigeria lost about N249bn crude oil revenue in July following a plunge in the country’s oil output by over four million barrels in the same month, latest oil production data seen on Sunday showed
In June 2029, the Namibian government pays N$200 000 to 500 000 households from oil tax revenue. Desperate to win elections later that year, the ruling party raids the sovereign wealth fund and mortgages future oil revenue to afford the N$100 billion payout.
In June 2029, the Namibian government pays N$200 000 to 500 000 households from oil tax revenue. Desperate to win elections later that year, the ruling party raids the sovereign wealth fund and mortgages future oil revenue to afford the N$100 billion payout.
Stakeholders in the extractive industries have approved the Nigeria Extractive Industries Transparency Initiative (NEITI) 2021 independent industry reports of the oil, gas and mining sectors.
Russia’s Arctic LNG 2 project is on track to begin first production later this year, one of the minority shareholders, China’s CNOOC, said on Friday.
Underinvestment in oil and gas exploration has been a scarecrow for energy security for several years now.
The Auditor General has disclosed that the failure to impose penalties on oil companies for delayed payment of surface rental has resulted in a loss of more than $8.3 million in revenue.
Tullow to Sell Guyana Offshore Block Stake to Eco Atlantic for $700,000 and Potential Future Payouts
Oil company Tullow Oil agreed to sell its total interest in Tullow Guyana, which includes the Orinduik license (Tullow 60% operated equity) in Guyana to Eco Atlantic’s subsidiary Eco Guyana Oil and Gas (Barbados) Limited in exchange for a combination of upfront cash and contingent consideration.