Saudi Minister of Energy Prince Abdulaziz bin Salman underlined the need to commit to a stable and less volatile oil market, which will help the global economy to grow and prosper. Addressing the 7th Future Investment Initiative (FII7) forum in Riyadh on Tuesday, he said that the volume of oil trade amounts to $2 trillion.
Oil is here to stay as US majors strike blockbuster deals while Saudi policies are helping stabilize global crude markets, the kingdom’s energy minister said at the annual investment forum in Riyadh.
Iran has long been desperate to create a permanent ‘land bridge’ from Tehran to the Mediterranean Sea by which it could exponentially increase the scale and scope of weapons delivery into southern Lebanon and the Golan Heights area of Syria.
As Ghana gets ready to explore for hydrocarbons at the onshore Voltaian Basin, Nigeria, which has long years of experience and exposure in onshore oil exploration and production is offering ways Ghana can avoid some of the practical errors made in one of the continent’s leading oil-producing nations.
Seatrium Limited has delivered the floating production unit (FPU) Whale for deployment in the Gulf of Mexico, in line with the contract signed in November 2019 with Shell Offshore Inc.
The European Commission is investigating a deal allowing Bulgaria to access gas supplies via Turkey over a possible breach of the bloc’s antitrust rules.
Venezuela is expected to raise its crude oil production by less than 200,000 barrels per day (bpd) until the end of 2024 as years of underinvestment and mismanagement will hamper rapid output growth following the effective lifting of most oil sanctions on Venezuela for six months, the U.S. Energy Information Administration (EIA) said on Monday.
Algeria’s state oil and gas firm Sonatrach has plans for a $1 billion project for natural carbon storage through planting 420 million trees over 10 years, Algeria’s Ennahar TV reported on Monday, citing Energy Minister Mohamed Arkab as saying.
Demand for climate-warming fuels like coal, oil and natural gas will likely peak before 2030, evidence of the accelerating global shift to energy that doesn’t emit greenhouse gasses, according to the International Energy Agency (IEA)’s World Energy Outlook.
European supermajor Shell and state-controlled partner Ecopetrol have made a new natural gas discovery offshore Colombia.