Oil prices recorded big declines on Thursday, with WTI and Brent crude down 3% on the intraday session as debt ceiling jitters overcame optimism about another round of OPEC+ production cuts.
With its economic indicators showing clear signs of recovery, and the current Parti Démocratique Gabonais (PDG) set to retain power after this year’s elections, Gabon’s economic plans are moving ahead at full speed.
Germans are criticizing a government plan to ban oil and gas boilers and replace them with heat pumps, arguing it is happening too fast and is going to cost a lot of money.
Extractive industries in Colombia, primarily oil, coal and gold mining, are heavily impacting the strife-torn country’s environment.
Following years of anticipation, Oslo-listed E&P company BW Energy drilled the first of several wells last Monday that will constitute Phase 1 of its Hibiscus/Ruche development at its offshore Dussafu asset in Gabon.
Between 2014 and last year, upstream petroleum industry capital expenditure (CAPEX) dipped to $6 billion from $27 billion. Chief Executive Officer, Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Gbenga Komolafe, in an interview with The Nation, said there had been a 74 per cent decline in CAPEX. The commission, he said, realised the negative impact of underinvestment […]
TotalEnergies has agreed to acquire the United Arab Emirates upstream assets of Compañía Española de Petróleos, S.A.U. (CEPSA).
(Reuters) – The Canadian Association of Petroleum Producers (CAPP) said on Wednesday it expects oil and natural gas investment in upstream production will reach C$40 billion ($29.4 billion) in 2023, surpassing pre-COVID levels
Nigeria’s oil and gas industry experienced historic crises throughout 2022 as the sector struggled with severe crude thefts and pipeline vandalism constraining output, but will do relatively well this year, a new report has said.
Over the past three years, the majority of U.S. energy companies have avoided spending big to expand production in the aftermath of the 2020 oil crisis, prioritising returning more cash to shareholders in the form of dividends and share buybacks.