oil and gas industry

Nigeria oil enters unclear new era after Shell’s onshore asset sale

Energy‚ Oil and Gas Industry | intent | January 29, 2024 | Comment off

LAGOS/LONDON, Jan 29 (Reuters) – Shell’s exit from Nigeria’s onshore oil sector highlights risks oil majors face in Africa’s biggest exporter but has raised hopes that local firms could reverse the output decline from the Niger Delta, industry officials and analysts said.
Shell – which pioneered Nigeria’s oil industry – is the most prominent Western company to exit the Delta, a region blighted by pollution, oil theft and pipeline vandalism. Those issues have for years stymied investment – and throttled production and government finances.

Oil edges lower on China worries as Middle East tensions fester

Oil & Gas‚ Oil and Gas Industry | intent | January 29, 2024 | Comment off

LONDON, Jan 29 (Reuters) – Oil prices dipped on Monday as China’s ailing property sector took another hit while a drone attack on U.S. forces in Jordan added to supply disruption concerns in the Middle East and Houthi militants stepped up attacks on vessels in the Red Sea.

NUPRC Warns Companies against Buying Oil, Gas Assets without Due Diligence

Oil & Gas‚ Oil and Gas Industry | intent | January 29, 2024 | Comment off

Peter Uzoho

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has advised prospective buyers of oil and gas assets put on sale during bid rounds to endeavour to carry out proper due diligence checks on the commercial and economic viability of the assets before making payments.

Oil and gas sector advances key projects ahead of production

Oil & Gas | intent | January 29, 2024 | Comment off

Energy Minister Ruth Nankabirwa shares progress on the refinery, EACOP, and related projects

The oil and gas industry is undergoing its biggest-ever consolidation

Oil and Gas Industry | intent | January 26, 2024 | Comment off

The oil and gas industry is undergoing its biggest-ever consolidation, according to Enverus.

Upstream merger and acquisition activity hit $144 billion in the fourth quarter alone and $190 billion for 2023, both setting records.

Bids from Exxon Mobil, Chevron, and Occidental Petroleum were among the key deals fueling the record.

2024 Will be Another Rollercoaster Ride for Energy

Energy‚ Oil & Gas | intent | January 26, 2024 | Comment off

Hot off the heels of another tumultuous and eventful year for the global energy landscape, 2024 is already continuing the trend of disruptions, headwinds, and opportunities, Rystad Energy stated in a release sent to Rigzone on Wednesday.

Eni Inks Decarbonization Deals with Kazakh Companies

Energy‚ Oil & Gas‚ Oil and Gas Industry | intent | January 25, 2024 | Comment off

Eni Inks Decarbonization Deals with Kazakh Companies
by Jov Onsat|Rigzone Staff|Monday, January 22, 2024

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Eni Inks Decarbonization Deals with Kazakh Companies
Eni signed three energy transition-related deals with Kazakh firms, including a commitment pact for a planned hybrid-fuel power project.
Image by e-crow via iStock
Eni SPA has signed three energy transition-related agreements with companies in Kazakhstan, including a commitment pact for a planned hybrid-fuel power project.

WAPCo to shut down for regulatory test exercise

Energy‚ Oil & Gas‚ Oil and Gas Industry | intent | January 25, 2024 | Comment off

The West African Gas Pipeline Company Limited (WAPCo), has announced that it will undertake a three-day coordinated and planned Emergency Shut Down and High Integrity Pressure Protection System (HIPPS) Proof tests at its facilities in Ghana, Togo, Benin, and Nigeria.

Halliburton’s 2024 outlook optimistic despite near-term commodity price volatility: CEO

Energy‚ Oil & Gas‚ Oil and Gas Industry | intent | January 25, 2024 | Comment off

Macro fundamentals for oil and natural gas remain “strong” even amid near-term commodity price volatility, which should create a healthy outlook for the oilfield services sector in the near and medium term even if most of the projected 2024 growth is internationally weighted, the top executive at oilfield services provider Halliburton said Jan. 23.

Namibia Accelerates Development Towards First Oil

Energy‚ Oil & Gas‚ Oil and Gas Industry | intent | January 25, 2024 | Comment off

What does the pathway to first oil look like for Namibia? Are there any updates on the technical and commercial viabilities of the recent discoveries?

Namibia has been on a roll since 2022, in that nearly every hole that has been drilled in the subsurface has yielded a positive indication of hydrocarbons. Between February 2022 and July 2023, we have had oil discoveries: the Graff-1, Jonker- 1X, La Rona-1 and Lesedi-1X discoveries in PEL 39 by Shell Namibia Upstream BV and its partners, and the Venus-1 discovery in PEL 56 by TotalEnergies EP Namibia and its partners. It has been a journey to get here – we drilled close to 37 dry wells prior to these discoveries. When the results were negative, it was very difficult to make the case to the world that Namibia does have oil and gas accumulation. These discoveries are a testament to both patience and hard work, as well as the potential of the market.

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