After a decade of exponential growth, the U.S. shale patch is no longer the swing producer on the global markets. That role is now back in the hands of OPEC and its largest and most influential members in the Middle East, analysts and industry executives say.
Signs of cautious optimism about a recovery in economies and oil demand have emerged, OPEC Secretary General Haitham Al-Ghais told Bloomberg Television in an interview on Tuesday.
We have pledged one of the biggest steps in the history of our organisation — to reach net zero in 10 years. For any company in any sector, that is a huge goal. For us, it is an ambitious target. We are a fossil fuel company in a country that is the third-largest member of Opec.
CAIRO – OPEC+ is facing “volatile prospects” in oil markets both in supply and demand, UAE energy minister Suhail al-Mazrouei told Asharq TV on Saturday.
OIL and gas (O&G) companies are showing an increased awareness and focus on environmental, social and governance (ESG) and sustainability aspects.
The Ministry of Energy and Mines (MINEM) has identified more than 30% of families in vulnerable conditions throughout the country, to provide them with social benefits, in order to achieve energy inclusion in the regions.
Nigeria’s oil production in the month of December 2022 grew by 4.2 per cent month-on-month to 1.23 million barrels per day but remained significantly short of the 1.8 million barrels per day allocated to the country by the Organisation of Petroleum Exporting Countries, OPEC.
Nigeria recorded a shortfall in crude oil production totalling 6.9 million barrels per day (bpd) between January and November, 2022.
As gas prices continue to fall, the coalition of oil-producing nations led by Saudi Arabia and Russia on Sunday opted against trying to stop the slide with cuts to the world’s oil supply.
Eight oil drilling rigs operated in Nigeria in October as against seven in the previous month, the Organisation of Petroleum Exporting Countries has stated.