The global upstream oil and gas sector ended 2023 on a weak note. Despite the geopolitical tensions and other factors like production cuts, oil prices remained lower during the year as compared to 2022 prices. And the outlook for 2024 has been somewhere near moderate growth.
Kosmos Energy Ghana, a leading international deep-water exploration and production company in Ghana’s Upstream Oil and Gas Sector, has constructed a new dormitory block to house visually impaired students at the Ashanti School for the Deaf at Jamasi, in the Ashanti Region.
Nigeria’s crude oil production, including condensate, rose year-on-year, YoY by 30 per cent to 1.6 million barrels per day, bpd in October 2023, from 1.2 million bpd recorded in the corresponding period of 2022.
The Middle East also stands out as the only region where upstream oil and gas investments have exceeded pre-pandemic levels.
The Public Interest and Accountability Committee (PIAC) is advising the government to promote a very business-friendly regulatory environment in the upstream petroleum sector to attract foreign investors.
The Ghana Upstream Petroleum Chamber has held its 2023 Ghana Oil and Gas Conference.
A spike in Brent crude prices last week to a 10-month high of over $90 a barrel has brought cheers to upstream oil companies with hopes of wider profit margins.
Upstream oil and gas is enjoying a new lease of life. But with investment spend well below past highs, is the industry investing enough to fulfil its critical role of delivering enough supply to meet the rise in demand we expect over the next decade? I asked our Upstream experts, Fraser McKay and Ian Thom, who addressed this very question in our July Horizons.
Valeura Energy, the upstream oil and gas company with assets in the Gulf of Thailand and the Thrace Basin of Turkey, has temporarily suspended production operations at the Wassana oil field, offshore Gulf of Thailand.
RIYADH: US energy firms last week added oil and natural gas rigs for the first time in 10 weeks due to the biggest weekly increase in gas rigs since October 2016, energy services firm Baker Hughes Co. said in its closely followed report.