A $141 million acquisition in the Permian Basin became the latest sale to close in the region as it was expected to continued growing in production of both oil and natural gas.
KYIV, Ukraine — Despite a brutal Russian invasion that has killed tens of thousands of Ukrainian soldiers and civilians and laid waste to swaths of the country, Ukraine continues to allow Russian oil and gas to cross its territory to serve its European neighbors — generating revenue for Kyiv and Moscow and illustrating how hard it is for the bitter enemies to cut ties.
President Muhammadu Buhari has flagged off the resumption of physical activities toward the exploration of crude oil and gas in the Chad Basin area.
The Nigerian National Petroleum Company Ltd on Tuesday commenced an oil drilling campaign at the Wadi-B well located in Jere Local Government Area of Borno State.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced that the country’s gas reserves currently stand at 208.83 trillion cubic feet, offering potential investors a huge potential.
The United States has renewed a license that will extend the authorization to select oilfield services companies to keep assets in Venezuela. The license does not allow the companies to drill, process, or handle Venezuelan-derived crude oil, Reuters reported on Tuesday.
Nowadays, the oil bulls just can’t catch a proper break. After a heavy selloff following the collapse of Silicon Valley Bank routed the markets, the markets returned to a semblance of normalcy after the 2nd of April decision of some OPEC+ members to make voluntary output cuts.
Earlier this month, the Norwegian energy ministry said the country would be stepping up oil and gas exploration in the Norwegian continental shelf to improve its energy security and the energy security of its friends and neighbors in Europe.
Oil prices rose by nearly 2% early on Tuesday after the Saudi energy minister warned short sellers to “watch out” and as seasonal demand for fuel is set to rise at the start of the U.S. driving season this weekend.
Board Chair of the Ghana National Petroleum Corporation (GNPC), Freddie Blay, has refuted claims of a contract being brokered to sell a 50% stake in Jubilee Holdings Limited to South African oil business, PetroSA, despite the significant revenue this interest has for the state.