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Oil And Gas
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Our coverage includes exploration, production, drilling, oil and gas companies, training and more.
OPEC’s Output Jumped Last December, But Still Below Target
The Organization of the Petroleum Exporting Countries increased its December production, according to the most recent Monthly Oil Market Report published on Tuesday.
OPEC-13’s average December production rose by 91,000 barrels per day,…
Russia Still Top Seaborne Oil Supplier To EU Despite Sanctions
Reports say Russia still enjoyed status as the top seaborne oil supplier to the European Union bloc despite sanctions.
Meanwhile, the European Union’s seaborne imports of Russian crude oil declined by just over 12% last year.
…
UK’s Top Oil Producer, Harbour Energy, To Cut Jobs Over Windfall Tax
The largest oil and gas producer in Britain’s North Sea, Harbour Energy, will likely cut jobs as a result of the UK’s windfall tax, While the number of cuts coming remains undetermined, Reuters said the company, which employs 1,700 people,…
Venezuela Freezes Most Oil Exports
Venezuela’s PDVSA has announced thev suspension of most of its crude oil exports for a review of the contractual terms that will be conducted under the new head of the company.
The review aims to make sure there will be no payment…
Nigeria’s overall projected crude oil production short by 283mb in 2022
Nigeria’s overall crude oil production in 2022 was short by 283millon barrels, with a market value of about $24.55billion. Nigeria’s expected output for year was 1.88 million barrels per day.
This figure was achieved from a conservative…
OPEC Sticks To Its 2023 Forecast As China Comes With Impressive Outlook
OPEC has said that it is sticking to its global oil demand forecast for 2023, despite the improving economic outlook in top crude importer, China.
The group said it also expects oil demand to grow by 2.2 million barrels a day this year,…
Oil Prices Steady As China Releases Awaited GDP Data
Oil prices reportedly moved in different directions yesterday after the announcement of 2022 GDP data from China, eagerly awaited by the oil market.
The data indicated that China’s economy expanded by 3%, which is undoubtedly a positive…
Nigeria Says Ongoing Oil Blocs licensing Will End In April
Nigeria has said the ongoing licensing for seven deep offshore open oil blocs, which commenced on January 3, 2023, would end in April.
The ministry of petroleum resources had opened the process in the month, calling for bids from both…
John Kerry Says LNG Boom Must Pair With Carbon Capture
America’s special presidential envoy for climate, Mr. John Kerry has said that in an interview that gas can help reduce emissions only if it is paired with projects of carbon capture.
According to him, while natural gas is cleaner than…
Oil Prices Ease After Strong Weekly Rally
...Traders weigh demand against economic headwindsFollowing China’s economic reopening, against broader global economic headwinds, oil prices fell at the start of trading yesterday as traders weighed demand growth prospects.
Brent, the…
Russia Resorts To More Use Of Its Tankers To Avoid EU Sanctions
Russia has been reported to have resorted to increased use of its own oil tankers to deliver its crude oil to buyers.
EU and its American allies had levied strict sanctions banning all Russian crude oil imports to EU nations transported…
NNPC Discovers Oil In Nasarawa state
The Nigerian National Petroleum Company Limited on Friday announced the discovery of oil in Nasarawa State and said it was set to drill the first foot of an oil well in the Northern state.
It said the discovery was in continuation of…
Nigeria May Cancel More LNG Shipments in February Due To Pipeline Vandalism
More Nigeria Liquefied Natural Gas gas cargoes planned for February 2023 may be canceled due to pipeline vandalism.
The NLNG, the company that exports natural gas from the country, commenced cancellation of flights last Friday due to…
2023: Exxon, TotalEnergies, Chevron To Up Investments In India.
US. oil majors Exxon Mobil Corp and Chevron Corp—along with France's TotalEnergies, are planning to increase their investments in India's oil and gas sector.
India’s oil minister, Mr. Hardeep Singh Puri, confirmed as much in a speech…
Nigeria’s Oil Output Has Increased Significantly, Can Do 2.2mbpd In 2023 – NNPC Boasts
The group managing director and chief executive officer of the Nigerian National Petroleum Corporation Ltd. Malam Mele Kyari has said that oil production in Nigeria has increased significantly, such that the country is capable of producing…
Nigeria Will Hit 2.2mbd Oil Output In 2023 – Kyari
Encouraged by the recent improvements in the oil production output in Nigeria, the group chief executive officer of the Nigerian National Petroleum Company Limited (NNPC), Mallam Mele Kyari, has said that the country could hit 2.2 million…
‘EU Sanctions Could Cost Russia $300mpd From Feb 5’
Russia stands the risk of losing about $300 million per day, once new European Union restrictions on Russian oil products come into force on February 5.
A new report from a Finnish research center predicts that the existing EU ban on…
N/Delta: Illegal Oil Pipeline Uncovered In Shell Facility
Dutch oil giant, Shell is in the middle of a recent discovery of illegal oil connection terminal on the Trans Niger Pipeline (TNP) in the Nonwa Uedume community of Tai local government area, Rivers state.The discovery, which was made…
Egypt’s Natural Gas Exports Surge With The Ambition To Dominate Gas Market Development
Egypt is surely breathing life to its ambition of dominating the gas market development in the region. A report yesterday said the North African country exported some 8 million tons of liquefied natural gas last year, worth $8 to $8.5…
UK Has Secured Enough Energy Supply For Next Winter – Official
The United Kingdom will have enough energy to go through coming winter as has saved enough gas and electricity, and has more liquefied natural gas coming in than in previous years.
In an interview yesterday with Bloomberg, the UK’s…