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Aquaterra Energy launches legacy well re-entry, re-abandonment services for offshore CCS, hydrogen projects

(WO) – Aquaterra Energy announced the launch of its legacy well re-entry and re-abandonment services along with its new patent-pending Recoverable Abandonment Frame (RAF). George Morrison, CEO at Aquaterra Energy The combined solution […]

Oil and gas giants’ annual revenue jumps 9% to over $2.5trn

*Oil and gas giants’ revenues climb. – Close to reaching 2022 highs Lagos — After seeing their profits plunge since 2022 highs due to lower oil prices and a sharp decline in gas demand, the […]

Tinubu justifies fuel subsidy removal, to boost critical infrastructure

Mkpoikana Udoma Port Harcourt — President Bola Ahmed Tinubu says his decision to remove subsidy on fuel was aimed at freeing up budgetary resources for critical investments in infrastructure and social services. The move, according […]

North Sea oil and gas industry cuts offshore production emissions by 4%, NSTA reports

(WO) – The North Sea oil and gas industry made further progress on its transition to net zero by cutting production emissions 4% last year, contributing to an overall reduction of 28% between 2018 and […]

OPEC again lowers 2024, 2025 global oil demand growth view

The weaker outlook further underscores the challenge faced by OPEC+, which comprises the Organization of the Petroleum Exporting Countries and allies such as Russia in balancing the market. Last week, OPEC+ delayed a plan to […]

Glencore’s ex-head of oil appears in UK court on bribery charges

*Glencore’s former head of oil Alex Beard looks on at Westminster Magistrates’ Court, after having been charged with bribery offences, in London, Britain, September 10, 2024. REUTERS/Jaimi Joy. London — Glencore’s former head of oil […]

American energy security, oil and gas production in jeopardy following Gulf of Mexico court ruling, API warns

(WO) – The American Petroleum Institute is raising concerns over the recent decision by the U.S. District Court for the District of Maryland to vacate the National Marine Fisheries Services’ (NMFS) Biological Opinion in the […]

NNPC Ltd/Chevron JV concludes conversion of assets into PIA terms

* R-L: GCEO NNPC Ltd, Mr. Mele Kyari and Director, Deepwater and Production Sharing Contract (PSC) of Chevron Nigeria Limited (CNL), Mrs. Michelle Pflueger, sign documents during a ceremony on conversion of the NNPC/CNL JV […]

Eni, SOCAR to expand oil and gas exploration, greenhouse gas emissions reduction in Azerbaijan

(WO) – Eni and Azerbaijan’s state energy company SOCAR have signed three Memorandums of Understanding (MoU) in the areas of energy security, greenhouse gas emissions reduction and the biofuel production chain. Absheron field […]

Transition to cleaner fuels seen dragging on China’s oil demand growth

China’s annual demand growth has slowed from around 500,000-600,000 barrels per day (bpd) in the five years before the COVID-19 pandemic to 200,000 bpd now, said Daan Struyven, head of oil research at Goldman Sachs. […]