Oil prices stabilised on Tuesday, after falling to a three-week low in the previous session, on a stronger U.S. dollar, a darkening global macroeconomic outlook and mixed supply signals.
Methane is much worse for the climate than carbon dioxide, and emissions continue to rise despite global efforts to control them.
Between January 2022 and August 2023, the Nigerian government suffered a significant financial loss of about N843 billion due to the burning of natural gas, as revealed by data from the National Oil Spill Detection and Response Agency (NOSDRA). In its latest report on gas flaring, NOSDRA disclosed that oil and gas companies operating in […]
Institutional traders in oil and fuels became net sellers after weeks of buying crude and fuel futures as higher oil prices triggered a rush to take profit.
Saudi Arabia and Russia, the key OPEC+ partners, will be keeping their oil supply cuts in November despite the recent crude oil price rally.
Oil markets lost some of their bullish shine at the start of October, with a strong dollar, worrying economic data out of Europe, and the prospect of another OPEC+ policy change weighing oil prices down.
No fewer than 23 oil blocks managed by both international and local oil companies, which are under crude oil Production Sharing Contracts with the Nigerian National Petroleum Company Limited, failed to produce crude or were inactive, the Federal Government has said.
The Biden administration announced plans last week to expand the Gulf of Mexico waters available to oil and gas drilling as part of the new five-year leasing plan that will take effect in 2024.
U.S. petroleum product exports totaled nearly 6.0 million barrels per day (b/d) in the first half of 2023, 2% more than during the same period in 2022. The first half of 2023 saw the most U.S. petroleum product exports during the first six months of any year in our Petroleum Supply Monthly data, which date back to 1981.
arge swathes of the global oil industry will pledge to eliminate methane emissions and gas flaring by the end of the decade, the president of the COP28 climate summit said.