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Improved fiscals introduced through Nigeria’s Petroleum Industry Act in 2021 further enticed investments by both international and regional players. A marginal field bidding round was launched in 2020 to entice indigenous operators to invest in marginal field opportunities, drawing in 591 companies seeking to develop 57 oilfields.
total energy imports were about 22 quadrillion British thermal units in 2024 and have been relatively flat since 2021. Crude oil and refined petroleum product imports combined accounted for about 84 percent of U.S. total energy imports in 2024 with natural gas accounting for most of the remainder at 15 percent.
Although they rarely increase in June, they did last month, as shown in Figure 1, which illustrates trends in India’s monthly petroleum product exports since early 2021. Subscribe now EOA’s Main Takeaways Read more
Strategic Petroleum Reserve is depleted by 200 million barrels to 2021. Israel’s military strikes in Iran have reminded traders that Middle Eastern oil supplies are not risk-free. Global oil stocks are below five-year averages, and the U.S. These factors leave the market more vulnerable to supply shocks.
The Raven field, the final phase of the WND project, has been in production since early 2021. The WND Gas Development comprises a series of gas condensate fields located offshore Egypt, within the North Alexandria and West Mediterranean Deepwater concessions.
10 Based on the European Unionâs 2021 emissions. billion available for allocation between 2021 and 2027, with about â¬630.0 The Connecting Europe Facility-Energy (CEF-E) has a budget of approximately â¬6 billion available between 2021 and 2027 to help the transition toward clean energy. Horizon Europe has made â¬95.5
Earlier this month, Petronas formalized several key agreements with the state of Sabah through its unit, Malaysia Petroleum Management. These deals are part of the Commercial Collaboration Agreement that Petronas signed with the state government in 2021.
The Emerging Basin Challenge The consolidation trend within the petroleum industry reflects the increasing scarcity of high-quality unconventional opportunities. Four distinct chronological scenarios were established on January 1 of 2012, 2015, 2018, and 2021, creating experimental frameworks with progressively increasing data availability.
CALGARY – A survey commissioned by the Canadian Association of Petroleum Producers shows oil and gas companies spent more than $14 billion procuring goods and services from Indigenous-affiliated businesses between 2021 and 2023.
Department of Energy has authorized the exchange of up to 1 million barrels from the Strategic Petroleum Reserve (SPR) to ease the crude shortage at Exxon’s refinery in Baton Rouge, Louisiana, after quality issues with the Mars crude grade emerged last week. Administration would quickly fill up the Strategic Petroleum Reserve.
The latest IPI figures from the Saudi statistics agency show that the IPI for the “Manufacture of coke and refined petroleum products” increased from 97.4 Any figure above 100 represents an increase against 2021 levels, and the April figure is the highest since at least January 2023 – the March figure was just below May 2024 levels.
production Tuesday, anticipating the first drop in output since 2021. Strategic Petroleum Reserve should be completed this year, Wright said. Much will depend on oil prices and whether producers will follow through on pledges to reduce investment, Wright said in an interview on Bloomberg Television. Repairs to the U.S.
3, 2021 Map from TotalEnergies. He is a member of the Society of Petroleum Engineers (SPE). Alex Procyk July 23, 2025 Map from TotalEnergies Key takeaways TotalEnergies has started production from the Begonia and CLOV Phase 3 projects offshore Angola. Total production from the projects is 60,000 b/d. Photo from TotalEnergies.
Wildcat well 34/6-8 S, the eighth in the license, was drilled in 386 m of water about 4 km northwest of the 2021 34/6-5 S Garantiana West discovery to 4,123 m TVD and 3,984 m MD subsea. The objective was to prove petroleum in reservoir rocks in the Cook formation from the Early Jurassic.
First drilled in 2021 and confirmed as a discovery the same year, Rafael has been assessed to hold contingent and unrisked gross recoverable volumes of 85-523 Bscf of gas and 1.8-10.6 Buru plans to drill two wells, including the 2021 discovery. The Rafael gas and condensate field is in Exploration Permit 428, about 150 kilometers (93.21
Department of State also announced sanctions on six entities and four vessels for significant transactions involving Iranian petroleum products, under Executive Order 13846. 13846 for having knowingly engaged in a significant transaction for the purchase, acquisition, sale, transport, or marketing of petroleum or petroleum products from Iran.
has agreed to a new contract with MTM, the fully owned Italian subsidiary of Westport Fuel Systems, and NAFTAL to supply 30,000 liquified petroleum gas (LPG) systems to the Algerian market. The systems will be delivered in 2020 and 2021 and extend a long and successful partnership between MTM and NAFTAL […].
Scheduled to be operational in mid-2021, the station will refuel vehicles powered by liquified petroleum gas (LNG) and compressed natural gas (CNG). Grupa LOTOS, LOTOS Paliwa and Remontowa LNG Systems have signed an agreement to develop LNG and CNG refueling capabilities at LOTOS’ service station in Gda?sk-Osowa, sk-Osowa, Poland.
Petroleum Sector in A New AI-based Iraqi National Memory Project A group of dedicated artificial intelligence (AI) specialists and professionals are enthusiastically racing against time and actively working on a first of its kind major mission: Iraqi National Memory Project (INMP). By Ahmed Mousa Jiyad.
BC Crown Sales of Petroleum and Natural Gas rights are officially back, after more than a 3 year hiatus. The last sale was in May 2021, before reopening with a small sale in December 2024, followed by a sale in January and February of this year. No parcels were offered in the March sale. The [Read more]
The Nigerian National Petroleum Company (NNPC) has announced it is in the final stages of preparing for its IPO, as mandated by the Petroleum Industry Act of 2021.
Previous articles covered overall energy consumption, carbon dioxide emissions, petroleum supply and demand, and global natural gas trends. The Review provides a comprehensive picture of supply and demand for major energy sources on a country-level basis. Today I delve into the data on coal production and.
Previous articles covered overall energy consumption, carbon dioxide emissions, and petroleum supply and demand. The Review provides a comprehensive picture of supply and demand for major energy sources on a country-level basis. Today, I want to cover the production and consumption of natural gas.
Kyari was the longest-serving CEO of the NNPC, which become a company in 2021 under a new petroleum law passed by the West African nations government. The new board has been asked to conduct a strategic review of NNPC-operated and joint venture assets to ensure alignment with value-maximization objectives, Onanuga said.
Read full report for Forbes here ) The Oilholic kick-started his Gastech 2024 speaking circuit journey on Tuesday as well, with India's Minister of Petroleum and Natural Gas Hardeep Singh Puri - a seasoned diplomat turned politician and a lively keynote speaker at international events. Photo I: Houston's George R. at 11:46 CDT.
Element Petroleum Props., Eastland June 1, 2021). Another possible example, though not noted by the Court, can be seen in a case currently pending before the Eastland Court of Appeals: PetroLegacy Energy II, LLC v. 11-21-00103-CV (Tex.
oil rigs continued to decline this week, reaching the lowest level since September 2021” “After losing seven rigs last week, only one rig was lost this week. Rigzone has contacted the American Petroleum Institute (API) and the U.S. The miscellaneous rig count decreased by one to five,” they continued.
Dual Drive Technologies has garnered numerous industry accolades over the years, including the Gulf Energy Information Excellence Award for Innovation in Pipeline Engineering Midstream in 2023; the D CEO Magazine Award for Excellence in Innovation and Sustainability in 2022; and the GPA Midstream Environmental Excellence Award in 2021.
24, 2021), the United States Court of Appeals for the Fifth Circuit addressed a question that has increasingly become a sticking point in Louisiana “legacy” cases: whether claims brought under a Louisiana citizen suit provision for alleged violations of state environmental regulations can be heard in federal court. 20-30224 (5th Cir.
As part of this, the Energy Act 2016 requires each UKCS operator to appoint a named Information and Samples Coordinator (ISC), who is responsible for reporting petroleum-related information to NSTA. Since late 2021, the data previously provided in tabular format now has to be submitted in a spatial format.
As part of this, the Energy Act 2016 requires each UKCS operator to appoint a named Information and Samples Coordinator (ISC), who is responsible for reporting petroleum-related information to NSTA. Since late 2021, the data previously provided in tabular format now has to be submitted in a spatial format.
24, 2021), the United States Court of Appeals for the Fifth Circuit addressed a question that has increasingly become a sticking point in Louisiana “legacy” cases: whether claims brought under a Louisiana citizen suit provision for alleged violations of state environmental regulations can be heard in federal court. 20-30224 (5th Cir.
Strategic Petroleum Reserve (SPR) hit historic lows this week as President Joe Biden continues to order a record release of barrels from the emergency stockpile. Energy Information Administration estimates that in 2021, the United States consumed an average of about 19.78 For perspective, the U.S. million.
OilPrice: "Is it time to refill America's Strategic Petroleum Reserve?" " Near the end of 2021, President Bidens ordered the release of 50 M barrels of crude from the SPR when consumers felt battered by the price of gasoline, then another 130 M barrels the next spring. Prices dropped between $0.17 —$0.42
5/25/21), 2021 WL 2102932, —So. One of the assessments further included two 1991 LDNR compliance orders to Stone Petroleum, requiring the closure of two pits and finding that the pits were not in compliance with Statewide Order 29-B because they were full and had overflowed in the past. In Lexington Land Development, L.L.C.
On February 3, 2021, the Fourth Circuit Court of Appeal affirmed a trial court’s ruling that granted a summary judgment motion finding plaintiffs failed to submit specific evidence of asbestos exposure necessary to create a genuine issue of material fact. Lamorak Ins. 20-0424 (La. In 2018, Charles Steib (“Mr.
5/25/21), 2021 WL 2102932, —So. One of the assessments further included two 1991 LDNR compliance orders to Stone Petroleum, requiring the closure of two pits and finding that the pits were not in compliance with Statewide Order 29-B because they were full and had overflowed in the past. In Lexington Land Development, L.L.C.
5/25/21), 2021 WL 2102932, —So. One of the assessments further included two 1991 LDNR compliance orders to Stone Petroleum, requiring the closure of two pits and finding that the pits were not in compliance with Statewide Order 29-B because they were full and had overflowed in the past. In Lexington Land Development, L.L.C.
On February 3, 2021, the Fourth Circuit Court of Appeal affirmed a trial court’s ruling that granted a summary judgment motion finding plaintiffs failed to submit specific evidence of asbestos exposure necessary to create a genuine issue of material fact. Lamorak Ins. 20-0424 (La. In 2018, Charles Steib (“Mr.
So far this month Brent and WTI have lost about 15% and 16% respectively for the biggest percentage falls since November 2021. million barrels last week, market sources said on Tuesday citing American Petroleum Institute data. West Texas Intermediate crude futures dropped 74 cents, also 1.2%, to $59.68. API/S] U.S. ET (1430 GMT).
A slowdown in supply growth outside OPEC+, which groups the Organization of the Petroleum Exporting Countries plus Russia and other allies, would make it easier for OPEC+ to balance the market. On May 5 Brent settled close to $60, its lowest settlement since 2021. Rapid growth from U.S.
A slowdown in supply growth outside OPEC+, which groups the Organization of the Petroleum Exporting Countries plus Russia and other allies, would make it easier for OPEC+ to balance the market. On May 5 Brent settled close to $60, its lowest settlement since 2021. Rapid growth from U.S.
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