The Biden Administration is finalizing the next five-year offshore leasing program, which has been delayed by several months already, creating yet another uncertainty for the U.S. oil industry which has had to grapple with numerous mixed messages from Washington since President Biden took office.
Earlier this week, the Biden administration rejected the first bids from companies offering to sell crude oil into the strategic petroleum reserve of the country.
U.S. natural gas prices are back to reflecting the domestic supply and demand balances, shaking off – for now – the geopolitical premium that ruled the energy and natural gas markets throughout most of 2022 after the Russian invasion of Ukraine in February.
On December 29, 2022, Kazakhstani state-owned oil and gas company KazMunaiGaz announced plans to export oil to Germany starting in January 2023. Arrangements were made to export a total of 1.2 million tons of oil through the Druzhba pipeline via Russia and Ukraine (Informburo.kz, December 29, 2022).
Last year’s seismic disruptions to energy markets made forecasting oil and gas prices particularly tough — and predicting the outlook for 2023 isn’t getting much easier amid persistent geopolitical uncertainty and fears of a global recession
Oil Marketing Companies (OMCs) in the country owe the government more than GH¢400 million, Dr Mustapha Abdul-Hamid, the Chief Executive Officer of the National Petroleum Authority (NPA), has stated.
ABUJA, Jan 10 (Reuters) – Nigeria’s petroleum regulator has shortlisted 139 companies for the next stage of the country’s gas flaring commercialisation programme, its chief executive said in a statement, part of plans to reduce carbon emissions.
Nigeria’s Upstream Petroleum Regulatory Commission will stage a pre-bid conference Monday, Jan. 16, for seven blocks on offer in the country’s northwestern offshore region.
Cementing Africa’s upstream revival, 2023 will see the launch of several multi-well drilling campaigns across the southern and western parts of the continent.
The Nigeria Upstream Petroleum Regulatory Commission (NUPRC) says the nation’s daily crude oil production has increased to 1.5 million barrels per day due to the successes recorded in the fight against oil theft in the Niger Delta region by the military.