WoodMac: as the energy transition progresses, refineries face an increasingly Darwinian battle for existence.
This year’s Local Content Conference and Exhibition (LCCE), organised by the Petroleum Commission, is expected to attract over 1,200 participants to Takoradi in the Western Region from tomorrow to Friday.
The federal government has met with a team from Seplat Energy, to resolve the stalemate arising from the proposed $1.3 billion ExxonMobil’s oil asset sale which has now been held up for close to two years.
It wasn’t clear what the details of the meeting which took place in Abuja were, but the Minister of State, Petroleum (Oil), Senator Heineken Lokpobiri, hinted that it bordered on ways to resolve the prolonged altercation.
French energy giant TotalEnergies said that it is in the process of drilling the first of three wells on a field offshore Nigeria with one of Noble Corporation’s drillships.
Oil prices have weakened recently, mostly on the back of equally weak economic data from the two largest markets for oil.
OPEC+ members are set to meet on Sunday to discuss production policy, and unnamed sources have claimed that the group will be discussing further production cuts.
Nigeria is withdrawing civil claims totaling $1.1 billion against energy giant Eni SpA, ending a long battle in Italian courts over allegations of corruption in an oil-field deal.
Saudi Arabia’s crude oil exports increased by 170,000 barrels per day (bpd) to 5.75 million bpd in September, data from the Joint Organizations Data Initiative (JODI) showed on Thursday.
American oil and gas giant Exxon Mobil is planning to invest up to $15 billion in Indonesia for a green petrochemical refinery and carbon capture storage (CCS) facility, according to President Joko “Jokowi” Widodo.
Host communities in Bayelsa State have threatened to disrupt oil production across the state if the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) fails to refrain from actions that could potentially reduce or create bottlenecks for the three per cent host community fund under the Petroleum Industry Act (PIA).