Tag: Oil and Gas News
Shell Joins League Of Supermajors Flying Huge Earnings, Even As Profits...
Global energy giant, Shell has reported adjusted earnings of $39.9 billion for the business year 2022. This figure represents double the earnings from 2021.
This...
2023 Global Uncertainties, Yet U.S. Refiners Expect High Margins
A number of permutations are coming in on the back of the EU ban on seaborne imports of Russian oil and a rebound in...
Libya: Oil Ministry Kicks $8bn Gas Deal With Eni, Saying It...
Libya’s oil ministry has kicked the $8 billion oil deal that the Italian energy giant, Eni signed with the Libyan National Oil Corporation (NOC)...
Exxon Posts Record Breaking Profits In Western Oil Company History
ExxonMobil has reported a $55.7 billion earnings for the year 2022 in what analysts describe as a record-breaking earnings tally for any Western oil...
Putin, Saudi Prince Discuss Strategy Ahead Of Wednesday OPEC+ Meeting
Saudi Crown Prince, Mohammed Bin Salman and Russian President Vladimir Putin reportedly discussed OPEC+ cooperation in a Monday phone call, with the focus on...
Eni Signs Energy Security Agreements With Algeria’s Sonatrach
In line with its expansion programmes in Africa, Italian oil giants, Eni, has signed two agreements with Algeria’s Sonatrach to boost energy security and...
OPEC+ Set To Keep Oil Production Unchanged
The Joint Ministerial Monitoring Committee of the OPEC+ group is expected to recommend keeping the current levels of oil production when it meets next...
French Bank Vows To Reduce Oil, Gas Lending By 80%
…Joins league of big time lenders committed to energy transition by vowing to end oil, gas financing
French bank, BNP Paribas, has announced the decision...
Uganda Starts Drilling On First Commercial Site
...Hopes to reach first production before 2025Â
Uganda has confirmed that it has started drilling operations on its first commercially viable oil site.The country’s ministry...
Maintenance Plan For Angola’s 200,000bpa Oilfield Will Affect Its Presence In...
The Dalia offshore oilfield in Angola has been billed for a planned maintenance lasting more than a month beginning on February 20. The period...
Norway Offers 92 New Oil Blocs for Hydrocarbon Exploration
Norway’s petroleum and energy ministry has announced that the country, which is Western Europe’s biggest oil and gas producer, is offering up to 92...
Oil Prices Steady With Hopes Of Fuel Demand Recovery In China
Oil prices were reportedly steady during morning trade yesterday amid hopes of a fuel demand recovery in the world's top crude importer, China.
Brent,...
Kuwait Cabinet Resigns Over Oil Wealth Management
...It's Kuwait’s 6th cabinet in 3yrs. The 3rd formed by PM, Al-Ahmed Al-Sabah since he took office in August last year.
The government of Kuwait...
TotalEnergies Commences Gas Production At Oman Onshore Block 10
France’s TotalEnergies has begun gas production from onshore Block 10 in Oman, in line with its growth strategy focusing on fuels contributing to the...
UK To Bail Indigenous Firms With $40m To Cut Dependence On...
The UK government has said it will support its indigenous industries, including those in construction, mining, and quarrying sectors, with funding of $40.2 million...
OPEC Has More ‘Market Power’ As Oil Supply Concerns Return
OPEC has increased control of oil markets as supply concerns return, with declining output growth in other crude supplying countries.
Global investment banking and securities...
US Not Likely To Support Lowering Russian Oil Price Cap Now
Europe Union is said to be currently discussing the possibility of further lowering the $60 price cap over Russian crude oil to put additional...
Global Oil Demand Hit A 9-Month High Last November
Demand from China, India, and Japan is believed to have lifted global oil demand by 1.7 million barrels per day (bpd) in November to...
Why 2023 Will Be Another Strong Year For The Oil Industry
Last year was a good year for the oil industry. Despite predictions of its looming demise as renewable energy leads to electrification that in...
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...
