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Nigeria licenses first floating LNG plant for export and domestic use

*UTM Offshore CEO Julius Rone Abuja — Nigeria’s oil regulator on Friday granted UTM Offshore Limited the first license to operate a floating liquefied natural gas plant, to tap flared gas from an ExxonMobil oil […]

NNPC Ltd says not sole buyer of Dangote gasoline

*A view of the newly-commissioned Dangote Petroleum refinery is pictured in Ibeju-Lekki, Lagos, Nigeria May 22, 2023. REUTERS/Temilade Adelaja/File Photo. Lagos — Nigeria’s state-owned oil firm NNPC Ltd said on Saturday it will not be […]

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AI to dampen oil prices over next decade on improved U.S. shale production, Goldman Sachs predicts

(Bloomberg) – Artificial intelligence will ultimately help drive down oil prices over the next decade as improved U.S. shale production outweighs better oil demand, according to Goldman Sachs Group Inc. The bank forecasts […]

News

AI to dampen oil prices over next decade on improved U.S. shale production, Goldman Sachs predicts

(Bloomberg) – Artificial intelligence will ultimately help drive down oil prices over the next decade as improved U.S. shale production outweighs better oil demand, according to Goldman Sachs Group Inc. The bank forecasts […]

Goldman Sachs expects OPEC+ production increases to start in December

*OPEC+ barrel stock Bengaluru — Goldman Sachs adjusted its expectations for OPEC+ oil production saying it now expects three months of production increases starting from December instead of October, the bank said in a note […]

Invictus Energy identifies multi-Tcf gas prospects in highly-anticipated Mukuyu field onshore Zimbabwe

(WO) – Invictus Energy Limited has provided an update on activities at its 80% owned and operated Cabora Bassa Project onshore Zimbabwe. Following the completion of the interpretation of the CB23 seismic survey data and […]

Noble Corporation hits $6.7 billion in backlog on Diamond Offshore Drilling acquisition closure

(WO) – Noble Corporation plc announced the completion of its acquisition of Diamond Offshore Drilling, Inc (“Diamond”). This transaction enhances Noble’s position as a leading offshore driller, creating the largest fleet of 7th generation dual-BOP […]

NOSDRA, Mobil discuss future collaboration

Oritsegbubemi Omatseyin Lagos — The National Oil Spill Detection and Response Agency, NOSDRA, and Mobil Producing Nigeria Unlimited, MPNU, are set to widen cooperation and collaboration to ensure effective and unfettered environmental management in the […]

PMS prices are determined by free market forces

*Petrol dispenser nozzle. Oritsegbubemi Omatseyin Lagos — The Nigerian National Petroleum Company Limited, NNPC, has said that foreign exchange (forex) illiquidity has been a significant factor influencing the fluctuation in prices of Premium Motor Spirit, […]

ExxonMobil eyes 2025 start date for first U.S. Gulf Coast carbon capture project

Newswire – Exxon Mobil Corp. is on track to start up its first U.S. Gulf Coast carbon capture project next year if it can gain regulatory approval to drills wells that would store emissions underground. […]