Prime Minister Olzhas Bektenov and Upstream Director of the Italian company ENI Luca Vignati reviewed ongoing joint work at the Karachaganak and Kashagan fields and explored opportunities for launching new projects in renewable energy sources at a meeting on March 27, reported the Prime Minister’s press service.
PetroChina Co. Ltd. has reported CNY 161.15 billion ($20.6 billion) in net income for 2023, up 8.3 percent compared to 2022 as growth in both upstream and downstream output offset weaker oil prices.
Nigeria’s oil regulator met with producers and local refiners to fix implementation of a policy mandating crude sales to domestic refineries, the head of the agency said on Tuesday.
Ithaca Energy has been given a four-week exclusivity period by Italy’s Eni to make an offer for UK exploration and production assets that could expand its output massively, the London-listed company said on Wednesday.
It is estimated that the total abandonment or decommissioning cost of Jubilee wells, subsea infrastructure, and FPSO in a fully developed Greater Jubilee will amount to approximately US$704 Million
Two environmentalist groups have challenged in court French oil major TotalEnergies’ plans to drill five wells offshore South Africa.
TotalEnergies acquired a 33% stake in an exploration block offshore South Africa earlier in March.
Despite the apparent risks, TotalEnergies and QatarEnergy are moving ahead with their exploration effort off the South-African coast.
The tightening sanctions on Russia’s oil exports are raising freight costs for moving Russian crude.
Argus has estimated that shipping a barrel of Russian crude from a port in the Baltic Sea to China has cost around $14.50 since December.
The U.S. levied new sanctions against Russia last month on the second anniversary of the Russian invasion of Ukraine and in response to the death of opposition politician Alexey Navalny.
The Federal Government, on Tuesday, said about $5bn worth of investments are expected in Nigeria from oil and gas companies this year.
Tullow has affirmed its commitment to Ghana’s socio-economic growth through its operations in the country.
With crude oil production showing no sign of significant improvement in the country, the Federal Government has expressed concerns over the capacity of the industry to meet its domestic crude obligations to local refineries, insisting that supply to local refineries remain a priority.