Global oil demand growth continues to decelerate, with first-half 2024 gains of 800,000 b/d year-over-year (y-o-y) being the lowest since 2020, according to the International Energy Agency (IEA)’s September issue Oil Market Monthly Report.
The Public Interest and Accountability Committee (PIAC) has engaged representatives from its 13- Constituent Bodies to discuss how to strengthen efforts to deepen public accountability in the management and use of the country’s petroleum revenues at its Annual General Assembly (AGA) in Accra.
Crude oil production will continue to outpace demand in 2025 despite OPEC+ caps on output, Kpler analyst Homayoun Falakshahi told Reuters.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) on Wednesday denied granting clearance for Shell PLC’s sale of its onshore subsidiary to a local player.
Namibia, once considered a frontier market in the energy sector, is rapidly emerging as a potential oil powerhouse. Recent discoveries in the country’s offshore Orange Basin, particularly the Venus and Graff discoveries, have attracted significant attention from international oil majors, raising hopes of a transformative economic impact. However, several factors, including geopolitical considerations and the financial viability of extraction, will play a crucial role in determining the success of Namibia’s oil ambitions.
Uganda plans to issue new oil and gas exploration licences in the fiscal year beginning in July 2025, Reuters reported on Wednesday.
Aramco’s agreement with Hengli Group enables talks for a potential 10 percent stake acquisition
Oil prices climbed 2% early Thursday morning as Tropical Storm Francine landed on the coast of Louisiana.
Abu Dhabi’s Supreme Council for Financial and Economic Affairs (SCFEA) awarded Indian Oil Corporation (IOC) and Bharat Petroleum Corporation Limited’s (BPCL) joint venture, Urja Bharat Pte Limited (UBPL), an oil and gas production licence for Onshore Block 1, BPCL announced on Wednesday.
Transocean has been awarded a USD 232-million contract from BP for the Deepwater Atlas drillship to carry out works in the US Gulf of Mexico, the company said on Wednesday.