Artificial Intelligence (AI) has emerged as some of the biggest secular megatrends of our time.
I have argued in several Oilprice articles, and most recently in February 2023, that the era of increasing output from shale wells did not have much more room to run absent a price signal that caused a huge increase in drilling.
The Host Communities of Nigeria Producing Oil and Gas (HOSCON) will hold its oil and gas summit on the smooth implementation of the Petroleum Industry Act on May 25 at the Petroleum Training Institute, Efurun, Warri, Delta State, the body said at the weekend.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC), at the weekend disclosed that it had established an Energy Transition and Carbon Monetisation unit in line with the federal government’s 2060 net-zero aspiration for carbon emissions.
Despite the global clamour for decarbonization and energy transition, oil and gas remain relevant in the global energy mix, an official said.
President Muhammadu Buhari will on Monday commission the 650,000 BPD Dangote Petroleum Refinery and Petrochemicals.
In its latest Oil Market Report, the International Energy Agency forecast that global oil demand would hit 102 million barrels daily, driven by China, whose oil demand, according to the IEA, reached 16 million bpd two months ago.
The much-touted second shale boom has lately been getting a reality check as equipment demand declines sharply, a worrying sign that drilling in U.S. shale energy regions is leveling off.
Libya’s Oil and Gas Outlook Continues to Look Stronger in The State of African Energy Q1 2023 Report
When global oil prices reached a 15-year high in 2022, Libya, which holds 3% of the world’s hydrocarbon reserves and 39% of Africa’s, was unable to take advantage of the windfall.
The two businesses are expected to pay annual acreage leasing costs for the exploration areas, annual research and training expenses, and exploration area exploration fees.