Yeongil Bay oil and gas reserves valued at five times Samsung Electronics’ market cap
The Dangote refinery in Nigeria has marked a significant milestone by exporting its first jet fuel cargo to Europe.
The Ogun State government has announced its readiness to join the ranks of oil-producing states as the Nigerian National Petroleum Corporation (NNPC) Limited is set to commence exploration of oil and gas in the state.
Inspired by a documentary I recently watched, Ghana’s Jubilee Oil Field – located 60 kilometres off the Western Region’s coast – plays a significant role in the country’s economy. According to Worldometer, Ghana is ranked 49th among 127 crude oil-producing countries, with an annual production of approximately 99 million barrels. However, the environmental and health impacts of industrial discharges from oil operations are a growing concern, particularly for nearby coastal communities.
The oil-producing Organization of the Petroleum Exporting Countries and its allies could extend existing output cuts this week, delegates and analysts tell CNBC, even as focus shifts from Middle East tensions to summer demand.
Four OPEC+ delegates, who spoke anonymously because of the sensitivity of talks, told CNBC the 2.2 million-barrels-per-day supply reductions will likely be prolonged, with one noting that the alliance would avoid shifting approach at a time when oil prices are relatively stable.
Saudi Arabia is expected to launch as soon as Sunday a secondary share sale in its oil giant Aramco, Reuters reported on Thursday, quoting sources familiar with the plans.
Companies publicizing their environmental actions will have to prove the truth of every word they say, measured against undefined ‘internationally recognized methodology’
US crude oil inventories for the week ended May 24, excluding the Strategic Petroleum Reserve, decreased by 4.2 million bbl from the previous week, according to data from the US EIA
Royalties from the Petroleum Holding Fund (PHF) dropped from $1,428,760,076.93 in 2022 to $1,062,323,419.12 in 2023 representing a 25.65% decrease from the previous year.
A study by Pickering Energy Partners shows banks across the U.S. are backing away even more from their climate goals and previous wary stance against the oil and gas industry.
Regional banks are actually increasing their efforts to finance the energy industry, rather than using environmental, social and governance policies to avoid making loans to oil and gas operators.