OPEC+ and others including Russia, is unlikely to defend the $80 price floor and hence would not need to cut production quotas this year, according to the note
Approximately 40 per cent of the volumes credited to crude losses in the Nigerian petroleum industry are actually attributable to measurement inaccuracies and not theft as often reported.
An International Energy Forum report says oil and gas upstream capital expenditures increased to their highest level since 2014, but more is needed.
Higher global oil prices have encouraged investments in these fields
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Oil and Natural Gas Corporation Limited (NSE:ONGC) is about to trade ex-dividend in the next four days.
The Biden administration plans to sell more crude oil from the Strategic Petroleum Reserve, with deliveries estimated to happen between April and June.
Feb 17 (Reuters) – Oil settled down $2 a barrel on Friday and ended the week markedly lower, as traders worried that future U.S. interest rate hikes could weigh on demand and got nervous about mounting signs of ample crude and fuel supply.
PGS, a leading provider of geophysical services, has announced its partnership with the Ghanaian Petroleum Commission to bring the latest technology in interactive rock physics to Ghana’s offshore. This new regional atlas provides an exceptional screening tool for explorationists. It features well-known discoveries in the area, and provides key insights for porting success to new areas.
On February 15, 2023, Ministers responsible for energy from around 40 countries took part in an IEA Ministerial meeting on Gas Markets and Supply Security. Ministers expressed their sincere condolences to Türkiye following the tragic loss of life caused by the devastating earthquakes this month and pledged their continued support for disaster relief and recovery efforts in the country.
The Department of the Interior’s Bureau of Ocean Energy Management (BOEM) has made adjustments to monetary penalties for oil and gas companies, implementing the 2023 inflation adjustments for the maximum daily civil monetary penalties contained in BOEM regulations in accordance with Federal law.