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’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 […]
…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 […]
*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 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 […]
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 […]
Lagos — With rising inflation and an increasing capital cost borrowing environment posing challenges for upcoming oil and gas projects, the overall oil and gas industry’s disclosed contract value saw a significant quarter-on-quarter (QoQ) decrease […]
*Artificial intelligence Houston — The final day of the Offshore Technology Conference in Houston, Texas commenced with a joint discussion from industry giants Shell and Occidental (“Oxy”). In a session titled “Artificial intelligence, real-time monitoring, […]
*Oil prices up – Oil prices fall more than 8% so far this week– Fed raises rates, opens door to pause in tightening cycle– ECB set to raise interest rates for 7th time in inflation […]
*Fifth offshore Guyana development – Uaru project receives government approvals; production targeted to begin in 2026– Fifth Stabroek block development will have a daily production capacity of around 250,000 barrels– $12.7 billion of additional investment […]
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