Crude oil production from Argentina’s burgeoning shale patch, Vaca Muerta, could surge in the coming years and top 1 million barrels per day (bpd) by the end of the decade – but only if takeaway capacity and rig availability do not limit growth.
State-owned Kuwait Oil Co (KOC) has announced plans to award 22 projects to local and foreign firms in the next few months, Zawya Projects reported, citing the Arabic language daily Alanba.
If it was Russia’s intention to send oil tumbling after its oil minister last week said that OPEC+ has no intentions of cutting production, in the process inviting another round of shorts and bearish CTAs, well… mission accomplished: on Wednesday oil tumbled more than 3% following the latest dismal Chinese PMI data, and followed a 4.4% drop on Tuesday the black gold is now on pace for its worst month since November 2021.
Colombia’s economically crucial energy patch is facing a grave crisis due to its shortage of proven oil and natural gas reserves coupled with leftist President Gustavo Petro’s plan to end awarding new exploration contracts
Oil prices slumped by another 3% early on Wednesday, extending the 4% losses from Tuesday after manufacturing data from China disappointed and the U.S. dollar strengthened.
Commissioning Africa’s largest refinery was supposed to have been one of the first ribbon cuttings of Muhammadu Buhari’s presidency. Instead, it was his last.
PERTH, June 1, 2023 – Woodside Energy has completed the awards for decommissioning of subsea structures at its oil and gas fields offshore Western Australia, the Australian independent announced on Wednesday.
As the primary driver of its economy, the local content regime for the oil and gas sector in Angola is heavily dependent on a robust and efficient financial sector.
The Minority in Parliament has called on the government to transfer the shares held by Jubilee Oil Holding Limited (JOHL) to the Ghana National Petroleum Commission (GNPC) to assure citizens that appropriate oversight of the country’s petroleum resources is being exercised by Parliament and other stakeholders.
Cairn Oil & Gas, a subsidiary of Vedanta Resources owned by billionaire Anil Agarwal, has announced that its reserves and resources portfolio in India has surpassed 1 billion barrels of oil equivalent (boe), media reports suggested.