Oil and Gas News

Revises Down Its Forecast by 160,000 bpd The Organization of Petroleum Exporting Countries (OPEC) has forecasted that global oil demand would average 96.4 million barrels per day (bpd) this year. It explained in a report released…

Tracerco, part of Johnson Matthey Plc, has been commissioned to provide asset integrity data for an operator in the Gulf of Mexico seeking to extend the life of over 18 of their risers. Under the contract, Tracerco will deploy DiscoveryTM,…

Joint collaboration offers an end-to-end hardware and software solution to optimize oil and gas well performance and productivity·Joint collaboration will also pursue technology applications to enhance geothermal and CCUS developments to…

…Shift from oil ‘existential threat’ for future oil volatility.US oil giant, ExxonMobil has said that it will remain focused on growing its core oil and gas business as alternative renewable…

The 2020 OPEC World Oil Outlook (WOO) will be launched via videoconference in Vienna, Austria, on Thursday, 8 October 2020 at 14:00 (CEST).OPEC’s Secretary General, HE Mohammad Sanusi Barkindo, will present the major findings of the WOO…

The Organization of Petroleum Exporting Countries (OPEC) oil output rose for a third time in September, a Reuters survey found, as a restart of some Libyan installations and higher Iranian exports offset strong adherence by other members…

Egypt’s state-owned Egyptian Natural Gas Holding Company (EGAS) has signed $934 million contract across eight gas exploration and research agreements, following a push to attract new entrants to develop its mushrooming gas market. Pumps…

HE Yury Sentyurin, Secretary General of the Gas Exporting Countries Forum (GECF) participated in the G20 Energy Ministerial Meeting and reaffirmed its commitment to greater international cooperation in ensuring the resilience of energy…

Reports said yesterday that thousands of jobs are under threat at oil and gas giant Shell. The company is due to publish an interim business update today (Wednesday) ahead of quarterly results, which many expect will cast more light on…

Oil prices fell yesterday almost 4% to their lowest in two weeks on worries about the outlook for fuel demand as Europe and the United States grappled with a surge in new coronavirus infections. Reuters reported that stock and…

Eni, an Italian oil major, said on Wednesday that payment for the Nigerian offshore oil block, Oil Prospecting Licence 245, acquired by it and Shell was made directly to the Federal Government through transparent means. Eni and Shell…

Oil and Gas companies Total and ExxonMobil have idled workers at the troubled Papua New Guinea LNG expansion project due to the COVID-19 pandemic, project partner Oil Search said in its earnings statement. What does Oil Search do?Oil…

Venezuela’s oil and gas sector was already caught in a vicious cycle well before the COVID-19 outbreak created a world economic crisis. Even though there are several international companies still remaining in the country, they are not…

Tecon Oil Services has commissioned three Hydraulic work-over/snubbing rigs at its operations headquarters at the Trans Amadi Industrial area in Port Harcourt. Tecon Oil Services is also developing a Waterfront Fabrication Yard for the…

The Nigerian Content Development and Monitoring Board (NCDMB has issued the Nigerian Content Compliance Certificate (NCCC) for the Ikike field development to Total Exploration and Production Company. The Executive Secretary NCDMB, Engr.…

Nigeria started the year 2018 with a fuel crisis which began December 2017, fueling concerns that the crisis would persist throughout the year. However, despite the fuel supply challenges, numerous opportunities exist in the industry. …

The Nigerian National Petroleum Corporation (NNPC) on Monday injected a fresh twist to the fuel subsidy controversy with a claim that the Federation Account was indebted to the corporation about N170.6 billion in unpaid arrears.…

The Nigerian National Petroleum Corporation on Monday announced that it would build more depots across the country. The Group Managing Director, NNPC, Maikanti Baru, disclosed the corporation’s plan to build more depots while…

By Oge Obi The Organisation of Petroleum Exporting Countries (OPEC) Secretary General, HE Mohammad Sanusi Barkindo has said that against skeptics disbelief on its December 2016 Declaration of Cooperation agreement has not only yielded…

Mining giant, Glencore has entered into an agreement to purchase 75 percent interest in Chevron South Africa, as well as a 100 percent stake in Chevron Botswana at a cost of $973 million. The deal, comprises of interest in Chevron Group’s…