The upstream petroleum industry awarded contracts worth US$3.6billion to indigenous companies over the last three years, thereby deepening the local content policy.
Shell Plc, ExxonMobil Corporation, Chevron Corporation, and Equinor ASA have said they will withdraw their lawsuits of about $3 billion, against the Nigerian National Petroleum Company (NNPC) Limited.
New LNG projects are driven mainly by a short-term increase in natural gas demand in Europe and Asia.
Egypt needs to improve regional stability and energy ties to fully benefit from its hydrocarbon exports
The Caspian Pipeline Consortium said that export disruptions could last more than one month.
Fuel is a key ingredient required to power the economy, and therefore its level of consumption has a direct relationship with how strong an economy is
Global benchmark Brent crude futures fell 21 cents, or 0.2 per cent, to US $100.00. The US West Texas Intermediate crude futures contract was down 10 cents, or 0.1
Italy’s Eni and its partner TotalEnergies have made a significant gas discovery in Block 6, offshore Cyprus.
Kenya’s petroleum industry is owed more today than ever, with the outstanding bill at 65 billion Kenyan shillings ($542 million), the Petroleum Outlets Association of Kenya (POAK) said in a tweet.
The company estimates reserves of 70.8 bcm (2.5 tcf) of gas in place, with significant upside through further exploration.