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OPEC holds global oil demand view steady

*OPEC oil demand – Cites US debt ceiling risks– Chinese oil demand growth increased to 800,000 bpd– OPEC output falls by 191,000 bpd in April– Says non-OPEC supply investment still below 2014 high– OPEC+ meets […]

‘Suspend petrol subsidy removal until refineries are fixed’

*Petrol dispenser nozzle. Mkpoikana Udoma Port Harcourt — The Independent Petroleum Marketers Association of Nigeria has urged the federal government to suspend the planned removal of subsidy on premium motor spirit by the end of […]

UAE’s Jaber urges methane emissions phase-out by 2030

*Sultan al-Jaber Abu Dhabi — The United Arab Emirates’ COP28 president designate Sultan al-Jaber said on Wednesday the oil and gas industry should phase out its methane emissions by 2030 and that investment in technology […]

Shell wins UK Supreme Court case on 2011 oil spill off Nigerian coast

*Crude oil spill offshore Nigeria London — The UK Supreme Court ruled on Wednesday that it was too late for Nigerian claimants to sue two Shell (SHEL.L) subsidiaries over a 2011 offshore oil spill they […]

Lower oil prices send Saudi oil giant Aramco’s first quarter profit down 19%

Dubai — Saudi oil giant Aramco’s first quarter net profit dropped 19% from a year earlier to 119.54 billion riyals ($31.88 billion), it said on Tuesday, due to lower crude prices. Profit still beat analysts’ median […]

Sintana Energy progresses exploration drilling campaign offshore Namibia

*Sintana’s Orange Basin campaign London — Sintana Energy Inc. confirmed that a subsidiary of Galp Energia, the operator of Petroleum Exploration License 83 (“PEL 83) in the heart of Namibia’s Orange basin, has signed a […]

OPEC pumps 28.62 million bpd in April

…Nigeria, Iraq production drops *Oil supply News wire – The Organization of the Petroleum Exporting Countries, OPEC, oil output fell in April due to a halt in some of Iraq’s exports and delays to Nigerian […]

Shell to sell stake in “controversial” UK oilfield

*UK’s Cambo oilfield London — Shell Plc will market its 30% stake in the UK’s Cambo oilfield following an agreement with operator Ithaca Energy Plc. Shell has been seeking to sell out of the Cambo […]

‘US weekly oil & gas rig count falls by the most since February’

*US weekly offshore rig count. Houston — U.S. energy firms cut the most oil and natural gas rigs in a week since February, energy services firm Baker Hughes Co (BKR.O) said in its closely followed […]

NMDPRA seeks collaborations for domestic gas utilization

Mkpoikana Udoma Port Harcourt — The Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA says more collaborations and interventions are needed to improve domestic gas utilization in the country, despite the various initiatives and policy […]