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OPEC+ gathers to review production quotas ahead of July decision

(Bloomberg) – OPEC+ gathers online on Wednesday to review production quotas for this year and next, before eight key members decide at the weekend whether to bolster output again in July. Several delegates […]

BW Offshore acquires FPSO Nganhurrah with 100,000 bpd capacity

BW Offshore has signed an agreement to acquire the FPSO Nganhurra, securing a high-quality production unit in a market where comparable opportunities are becoming increasingly scarce. The transaction includes a limited upfront payment, […]

OPEC+ drives crude oil prices up again

*Global oil flow. Port Harcourt — Crude oil prices have seen a significant rebound following the latest OPEC+ meeting, reaching $62.50 per barrel for WTI and $65.00 for Brent. This increase is a result of […]

Nigeria targets 12Bcf gas output, eyes top 10 global ranking by 2030

*Ekperikpe Ekpo Mkpoikana Udoma Port Harcourt — The Federal Government has issued a directive to major gas producers in Nigeria to ramp up daily gas output by at least 1billion standard cubic feet, bscf, annually […]

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Eni in talks to sell 49.99% stake in carbon capture business to GIP

Eni has signed an agreement with Global Infrastructure Partners (GIP), a global infrastructure investor and a part of BlackRock, for exclusive talks to potentially sell 49.99% in its carbon capture, utilization and storage […]

Oil steadies amid EU trade talks, OPEC+ meeting

(Bloomberg) – Oil was steady as the market weighed the prospect for easing trade tensions between the European Union and the U.S. ahead of an OPEC+ meeting on supply policy. Brent traded below $65/bbl, after a […]

Crude oil prices see volatility risks as supply and geopolitical concerns affect sentiment

*Oil prices Lagos — Crude oil futures could face additional volatility as markets face output increases and geopolitical risks. Geopolitical concerns could affect the market and support prices. Heightened tensions in the Middle East and Eastern […]

BPP mulls tripartite framework for CNG rollout across MDAs

*Presidential Compressed Natural Gas Initiative. – CNG adoption will ease cost burden on Nigerians Mkpoikana Udoma Port Harcourt — The Bureau of Public Procurement, BPP, is considering the establishment of a tripartite coordination framework involving […]

Oil shifts as traders consider OPEC+ outlook, easing trade tensions

(Bloomberg) – Oil fluctuated as the market weighed easing trade tensions against the outlook for rising OPEC+ supply. Brent traded below $65 a barrel, erasing earlier gains. U.S. President Donald Trump extended the deadline for […]

First oil achieved from Mero-4 field in Santos basin, offshore Brazil

Oil production has started from the fourth development phase of the Mero field off the coast of Rio de Janeiro, Brazil, in the pre-salt area of the Santos basin. The field is operated […]