In short, it depends, Ed Morse, the Global Head of Commodities Research at Citi, told Rigzone.
The country’s upstream oil and gas industry is expected to witness some positive sentiments following the submission of a plan of development (PoD) of Deepwater Tano Cape Three Points (DWT/CTP) block to the Ministry of Energy by Pecan Energies.
The Ghana Upstream Petroleum Chamber and Ghana Revenue Authority have started a series of quarterly seminars between them to improve the understanding of each other’s needs and enhance collaboration.
Russia would prefer its partners of the OPEC+ group to leave oil production unchanged when it meets next week, as Moscow is okay with the current oil prices and production quotas, sources with knowledge of the Russian position told Reuters on Friday.
Despite big promises of a green transition and the creation of ambitious climate pledges, some countries are continuing to support the development of new coal mines.
The OPEC+ voluntary production cuts, on paper promising curtailments amounting to 1.66 million b/d, should have been the main story for May
Labour has confirmed it will block all new domestic oil and gas developments if it wins power, proposing instead to invest heavily in renewable sources such as wind and also in nuclear power.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) said it has issued seven new regulations aimed at providing a regulatory environment that assures efficiency, predictability, clarity and effectiveness to the Nigerian oil and gas sector.
Nearly 70 years on, the country has risen to become one of the biggest producers and exporters in Africa, with production hitting an all-time high of two million barrels per day (bpd) in 2010.
The International Energy Agency (IEA) has said that a significant amount of oil and gas profits made in 2022 were used to increase shareholder returns as opposed to investing in clean energy.