The Nigerian National Petroleum Company (NNPC) is set to begin oil exploration in Ogun state This will mean more crude oil production for Nigeria and also help increase federal government revenue The governor of Ogun state is excited and has stressed the importance of NNPC’s decision to search for oil in the state.
The Republic of Congo’s Minister of Hydrocarbons Bruno Jean-Richard Itoua participated in two historic OPEC meetings on June 2, where the decision was made to extend oil production cuts into 2025.
Executive Chairman, & Founder, AA Holdings, Austin Avuru has said the Nigerian indigenous oil producers have the capacity to do 1.7million barrels per day (mbpd).
Eco (Atlantic) Oil & Gas Ltd (AIM:ECO, TSX-V:EOG) has struck a farm-in deal to acquire a stake in Block 1, in the Orange basin offshore South Africa.
Subsea7 has been awarded four long-term day-rate contracts by Petrobras for pipe-laying support vessels (PLSVs), Subsea7 announced on Monday.
Brent crude was trading down well over 3% on Monday, marking the first time the global benchmark has been below $80 since February, with the U.S. crude benchmark down over 3.5% following the OPEC+ agreement to start phasing out voluntary cuts in October.
Oil prices fell more than $1 on Tuesday, extending losses from a four-month low in the previous session, as investors worried about supply rising later in the year amid signs of weakening U.S. demand.
Arabian Drilling Co. (ADC) and Saudi Aramco finalized their discussions on the suspension of three offshore drilling platforms, as announced previously.
The Mansuriya field, holds an estimated 4.5 trillion standard cubic feet of gas and is expected to produce around 300 million scf per day of gas at its peak.
For China, the location of the Mansuriya gas field fits perfectly into the vast network of oil and gas sites in Iraq.
According to industry figures, more than a third of all Iraq’s proven oil and gas reserves and over two-thirds of its current production are managed by Chinese companies.
The Public Interest and Accountability Committee (PIAC) has expressed worry about the decline in oil
production by Ghana and has called on the government and other relevant regulatory bodies to take
steps to reverse the production decline on existing oil fields and ensure investments in unexpected
fields