LONDON: Oil prices tanked 4 percent on Wednesday as OPEC+ producers unexpectedly delayed a meeting on output planned for Sunday, raising questions about the future course of crude production cuts.
Newly released data from the Texas Workforce Commission (TWC) indicates that upstream oil and natural gas employment grew by an additional 2,200 jobs in October, the Texas Oil & Gas Association (TXOGA) noted in a statement sent to Rigzone recently.
Polish oil and gas firm Orlen has provisionally chartered a supertanker to load Venezuelan oil for China, according to a shipbroker and tracking data, following a temporary easing of US sanctions on the South American country.
OPEC+ members are set to meet on Sunday to discuss production policy, and unnamed sources have claimed that the group will be discussing further production cuts.
BP has brought on stream the Seagull oil and gas field in the UK North Sea.
Some of the world’s largest national oil companies (NOCs) have improved significantly their resilience to oil price slumps in the near future thanks to huge cash flows and profits in the past two years. But many of those companies face challenges in sustainability and ESG metrics due to governance issues, disclosures, and the lack of Scope 3 emission targets.
The most effective way to bring Africa’s oil and gas resources to market is through a quick, efficient partnership approach – as the West African nation has proved.
The Nigerian Upstream Petroleum Regulatory Commission(NUPRC) has disclosed plans to reactivate shut-in wells as part of initiatives to increase oil and gas production in the country.
TotalEnergies EP Angola Block 20 has finalized the sale to PETRONAS ANGOLA E&P LTD (PAEPL), a company belonging to the PETRONAS group of companies, of a 40% interest in Block 20 in the Kwanza Basin in Angola. The transaction was completed for an amount of $400 million as at January 1st, 2023, subject to customary price adjustments.
In June 2029, the Namibian government pays N$200 000 to 500 000 households from oil tax revenue. Desperate to win elections later that year, the ruling party raids the sovereign wealth fund and mortgages future oil revenue to afford the N$100 billion payout.