Minister of Petroleum and Mineral Resources Karim Badawi has met with Dimitrios Copelouzos, Chairman of the Greek Copelouzos Group, and Ioannis Karydas, CEO of the Group for Renewable Energy, Energy Storage and Interconnection.
The decision comes at a time when industry executives have been pushing for government measures to bring back investments put off by a slew of state interventions to curb energy prices and boost domestic supply.
In a quarterly financial update, Granite Ridge Resources revealed it closed multiple transactions in Q2 2024, adding 16.4 net future drilling locations for $22.4 million (including $5.8 million of expected future drilling carries).
audi Arabia is expected to ship lower volumes of crude oil to the world’s top importer, China, next month, as official Saudi term prices were raised for September.
Houston-headquartered exploration and production company Marathon Oil Corp. reported $349 million in net income for the second quarter, compared to $297 million for the previous quarter and $287 million for the corresponding quarter a year prior.
U.S. energy firms this week added oil and natural gas rigs for the third time in four weeks, energy services firm Baker Hughes said in its closely followed report on Friday.
According to Reuters, Equinor and ExxonMobil have transferred their stakes in a deepwater oil and gas exploration block offshore Suriname to Hess Corp, with Equinor exiting the South American country.
Offshore drilling contractor Northern Ocean announced an extension of the contract with a subsidiary of TotalEnergies SE for continued work in Africa using the Deepsea Mira drilling rig.
Global Petroleum, an AIM-listed oil and gas upstream exploration company presently focused on Africa and the Mediterranean, has engaged in discussions to secure a farm-in agreement with an undisclosed potential operating partner for its petroleum exploration license (PEL) 94 in Block 2011A in the Walvis Basin, off the coast of Namibia.
Several banks and financial institutions implementing policies aimed at reducing support for fossil fuel projects have led to a sharp decline in investment in Africa’s oil and gas industry, a sector that is crucial for its economic future and energy needs.