Exports
The U.S. administration, led by President Donald Trump, has scored a major victory in its efforts to curb Russia's energy revenue and end the war in Ukraine. Indian Prime Minister Narendra Modi has agreed to phase out India's imports of Russian oil within a short
Exports
The federal government has given its full support to the newly constituted Interim National Committee of the National Cashew Association of Nigeria (NCAN), declaring cashew a vital crop in Nigeria's non-oil export economy. Special Assistant to the President on Agriculture, Mr. Abiodun Yinusa, made the declaration, stating that
Exports
Iraq has resumed exporting crude oil from the Kurdistan region, with Deputy Director of the State Organization for Marketing of Oil (SOMO), Hamdhi Shankali, revealing that roughly 2.5 million barrels of crude oil have been exported since flows resumed late in September. The resumption of oil exports follows an
Natural gas
BP, the FTSE 100 energy giant, has upgraded its expectations for oil and gas production in the third quarter, driven by higher prices of Brent crude oil. The company's upstream production is now expected to surpass the previous quarter, with the contribution from oil, gas, and low-carbon energy
Natural gas
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) is working to overcome challenges hindering oil production, with a goal of achieving 2.5 million barrels of oil per day (BOPD) by 2027. The commission, led by Engr. Gbenga Komolafe, is taking a multi-faceted approach to drive the rebound of the oil
Natural gas
Indian oil and gas major ONGC is planning to reduce its overall costs by 15% over the next two years as it prepares for potential crude oil price volatility. The company expects to achieve Rs 9,000 crore in total cost savings by FY2027, with around Rs 4,300 crore
Natural gas
State-run Oil and Natural Gas Corporation (ONGC) is preparing for a future with a $60/bbl crude price environment by curbing its oil production costs. As part of its strategic roadmap, ONGC aims to reduce its oil production costs by 15% in the next two years, with the expectation of
Exports
The Federal Government of Nigeria has been urged to capitalize on the growth of crude oil exports to secure larger markets and mitigate the impact of a 15% tariff imposed by the US on Sub-Saharan Africa. The call was made by the Port Harcourt Chamber of Commerce, Industry, Mines, and
Natural gas
Aker BP's explorers have successfully located a series of oil deposits, known as Omega Alfa, which may produce more than 130 million barrels of recoverable oil, the largest find in Norwegian waters this year. This discovery is significant as it challenges conventional wisdom that the North Sea oil
Petroleum industry
At least 16 of Russia's 38 refineries have been hit by Ukrainian strikes since August, causing widespread fuel shortages and significantly higher wholesale petrol prices. The crisis has led to a perfect storm of declining production and increasing demand, making it difficult for the government to prioritize supplies
Petroleum
India-US trade deal negotiations are stalled due to American concerns about India's continued imports of Russian crude oil, with US trade negotiators indicating that a reduction in these imports is essential for finalizing a trade agreement. Indian officials have been informed by US trade representatives that addressing the
Local government
Canadian independent oil and gas company ShaMaran Petroleum Corp. has announced that interim agreements have been executed between the Kurdistan Regional Government, Government of Iraq, and several International Oil Companies, including ShaMaran, to resume oil exports from the Kurdistan Region of Iraq. This development is expected to enable the restart
