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US oil output to exceed 14 million bpd and then plateau, says Conoco chief

Output in the top U.S. shale field, the Permian basin of West Texas and New Mexico, will rise between 300,000 bpd and 400,000 bpd this year, he said in remarks at the CERAWeek energy energy […]

‘US oil output to exceed 14 million bpd and then plateau’

*ConocoPhillips CEO Ryan Lance. Houston — U.S. oil production will grow to exceed 14 million barrels per day and then plateau, ConocoPhillips CEO Ryan Lance forecast on Tuesday. Output in the top U.S. shale field, […]

Global oil demand to increase by 6% through 2028, up to 105.7m b/d

*Global oil demand to growth Lagos — Energy security and supply concerns are the major priorities to leaders, policymakers and executives from across the energy industry and Sarens is there to help maintain stable production […]

Oil prices build on last week’s strength as supply risks rise

*Global oil flow. New Delhi — Oil prices ticked up in Asian trade on Monday, extending gains from last week of nearly 4% on the view that supply was tightening, with the risks heightened by […]

NNPC’s contract approval threshold raised above $10m

*Headquarters of the Nigeria National Petroleum Company Ltd, Central Business District, Garki, Abuja. – Slashes approval period to 15 days maximum Ike Amos Dublin, Ireland — The Nigerian Government has raised the contract approval threshold for […]

We need increased local capacities in oil and gas sector

*Personnel of the Economic & Financial Crimes Commission. Oritsegbubemi Omatseyin Lagos — The Executive Chairman of the Economic and Financial Crimes Commission, EFCC, Mr. Ola Olukoyede has called for enhanced local capacities to grow the […]

Non-OPEC+ to lead 2024 oil production growth, offsetting output cuts

*Global oil flow. Houston — Near-term global oil and liquids production growth will be driven primarily by the U.S., Guyana, Canada, and Brazil, offsetting voluntary production cuts by OPEC+, the U.S. Energy Information Agency (EIA) […]

Invictus Energy discusses success and capital raising in African exploration

*Invictus to commence operations in the Cabora-Bassa basin. Cape Town, South Africa — Across Africa’s proven and promising hydrocarbon basins, independent oil and gas companies are playing a central role in driving exploration and resource […]

Oil prices set to end week about 4% higher

*Oil prices Houston — Oil prices edged lower on Friday but were on track to gain nearly 4% for the week, boosted by the International Energy Agency revising its 2024 oil demand forecasts higher and […]

NLNG $10bn train 7 expansion project at 60% completion

*Development of the NLNG Train 7. Oritsegbubemi Omatseyin Lagos — The Managing Director, MD, and Chief Executive Officer of Nigeria Liquified Natural Gas Limited, NLNG, Dr. Philip Mshelbila, has expressed optimism regarding the recent Executive […]