oil and gas

Shell to Sell Nigerian Onshore Assets to Consortium: African Energy Chamber ) Calls for …

Energy‚ Oil & Gas‚ Oil and Gas Industry | intent | January 19, 2024 | Comment off

British multinational oil and gas company Shell has decided to sell The Shell Petroleum Development Company of Nigeria Limited (SPDC) – which owns onshore oil assets in Nigeria’s Niger Delta region – to a consortium comprising mostly local energy players ND Western, Aradel Holdings Plc, First E&P, the Waltersmith Group, Petroleum Development Company Limited and Petrolin. The transaction is measured at $1.3 billion, with further payments of up to $1.1 billion set to be made. The sale will come into effect following the relevant approval from government.

Shell’s $2.4bn asset sale spotlights local firms

Energy‚ Oil & Gas‚ Oil and Gas Industry | intent | January 19, 2024 | Comment off

The decision by Shell, a global energy giant, to exit its onshore business in Nigeria has sent shockwaves through the country’s oil and gas industry, casting a spotlight on local firms and raising questions about the future of the industry.

Report Shines Light on Offshore Oil and Gas Health and Safety

Energy‚ Oil & Gas | intent | January 17, 2024 | Comment off

Offshore oil and gas companies should expect continued scrutiny of their health and safety practices in 2024 despite a recent report suggesting that the industry has never been safer to work in, experts say

What Themes Will Dominate Oil and Gas Recruitment in 2024?

Oil & Gas | intent | January 17, 2024 | Comment off

As 2024 presses on, Rigzone asked several U.S. based oil and gas recruitment experts what themes will dominate oil and gas recruitment this year.

JX Nippon Oil & Gas Exploration: Leading the Oil and Gas Industry

Oil & Gas‚ Oil and Gas Industry | intent | January 17, 2024 | Comment off

JX Nippon Oil & Gas Exploration is a Japanese company operating in the oil and gas industry, seeking and developing new energy resource deposits worldwide. With over 50 years of experience, the company has established itself as a major player in this highly competitive sector.

Oil Drilling and Energy Policy in Focus

Oil & Gas | intent | January 17, 2024 | Comment off

In a victory speech following the close of the Iowa Caucuses last night, the first electoral event of the U.S. Republican Party’s 2024 primary race, former President Donald Trump’s first order of business was a promise to “drill, baby, drill — right away” if re-elected. The priority given to concerns regarding the U.S.’s energy output by the Republican frontrunner appeals to Americans’ frustration with relatively elevated oil prices and an expectation that they will rebound again in the near future.

Occidental’s CEO Sees Oil Supply Crunch from 2025

Uncategorized | intent | January 17, 2024 | Comment off

The ratio of discovered resources versus demand has dropped in recent decades and is now at around 25%.
Oxy CEO Hollub: “2025 and beyond is when the world is going to be short of oil.”.
Oil industry executives have been warning that new resources, new investments, and new supply will be needed just to maintain the current supply levels as older fields mature.

Supply Disruptions Boost Bullish Sentiment in Oil Markets

Oil & Gas‚ Oil and Gas Industry‚ Uncategorized | intent | January 17, 2024 | Comment off

A cold snap in the U.S. and continued attacks on ships in the Red Sea have boosted bullish sentiment in oil markets, although increasing product stocks could counter that narrative.

China Awarded Major Contract By Iraq For Supergiant Oil And Gas Field

Uncategorized | intent | January 17, 2024 | Comment off

PetroChina’s contract to develop the Nahr bin Umar gas field follows the takeover by PetroChina of ExxonMobil’s operator role in the giant West Qurna 1 field.
For China, Iraq’s gas sector is not just potentially massive but is also highly connected to its equally potentially huge oil sector.
Around 70 percent of Iraq’s gas reserves are ‘associated’ with oil fields, and the majority of these fields are located in the southeast of Iraq.

What’s At Stake for China As Houthis Attack the Red Sea

Oil & Gas | intent | January 17, 2024 | Comment off

Japanese shipping operator Nippon Yusen has become the latest among dozens of shipping companies to suspend sailings through the Red Sea.
Beijing has so far remained tight-lipped about the raging war between Israel and Hamas in the Gaza Strip despite China being Israel’s second-largest trading partner.
Beijing has called for an end to attacks on civilian vessels in the Red Sea.

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