The Colorado Energy and Carbon Management Commission approved a proposal that allows Civitas Resources to move forward with its plan to put more than 150 new oil and gas wells on 32,000 acres near the Aurora Reservoir.
US oil and gas production shows further signs of flattening out or turning down, a delayed response to the decline in prices over the last two years after the initial shock caused by Russia’s invasion of Ukraine in early 2022.
Hindustan Oil Exploration Company Ltd. (HOEC) announced on Wednesday, 7 August, that unfavourable weather has disrupted activities at its western offshore Block B-80 field.
Stock Market today: Oil and Natural Gas Corporation (ONGC) , Oil India share price gained more than 8% during the intraday trades on Wednesday. ONGC was the largest gainer among Nifty 50 stocks.
Major stakeholders in Nigeria’s oil and gas industry on Wednesday vowed to speak up on the dirty deals, regulatory breaches and other malpractices in the sector that had defied solutions over years as the Senate opened another round of probe.
Nigeria’s revenue share from Nigeria Liquefied Natural Gas (NLNG) Limited has plummeted by 43 percent due to persistent gas supply challenges, leaving several industry experts increasingly worried about the mounting headwinds plaguing the country’s economic lifeblood: the oil and gas sector.
Nigeria’s oil output has risen to between 1.6 million and 1.7 million barrels per day after the government beefed up security to curb crude theft, Chief of Naval Staff Emmanuel Ikechukwu Ogalla said on Tuesday.
In Ghana, production averaged approximately 41,900 boepd net in the second quarter of 2024. Kosmos lifted four cargos from Ghana during the quarter, in line with guidance.
Replacing oil and gas production from future Norwegian developments with like-for-like imported volumes from other parts of the world would result in an emissions increase of 230 million tonnes of carbon dioxide equivalent (tCO2e) between 2024T and 2040 according to a report published by Wood Mackenzie.
The supermajors continue to bet on LNG while scaling back renewables projects and investments as oil and gas returns continue to trump the poor profits from renewables.