Upstream

Exxon Mobil said on Monday it expects crude demand to stay above 100 million barrels per day (bpd) through 2050, similar to today’s levels, a forecast 25% higher than top European rival BP (BP.L). The stronger demand, projected by the largest U.S. oil company in its latest global oil outlook underpins Exxon’s production growth plans, the most ambitious among Western ...

There are strong indication that the move by Shell International Plc to transfer its $1.3 billion worth of shares from onshore assets to Renaissance may sail through as it receives presidential boost even though the Nigeria Upstream Petroleum Regulatory Commission (NUPRC) is yet to give its approval citing technical and financial capabilities as key to allow the deal to go ...

The Nigerian Upstream Petroleum Regulatory Commission, (NUPRC) is to establish Alternative Dispute resolution Centres, ADRC, in parts of the country to mitigate conflicts arising from the oil and Gas industry. The Chief Executive Officer of the Commission, Engr Gbenga Komolafe, made this known in Lagos at a Stakeholders Engagement and Consultation Session on the Draft Rules of Procedures of the ...

Chevron Corporation on Monday launched production at its $5.7-billion Anchor project in the Gulf of Mexico, making history with the first-ever successful application of new high-pressure technology for ultra-deep reservoirs. The technological breakthrough represents the first time the industry has seen successful production in the U.S. Gulf of Mexico, where drillers encounter significant subsea pressure that has until now evaded ...

…….by Ben Ndubuwa……As part of efforts to boost Nigeria’s crude oil production and grow reserves, the Nigerian National Petroleum Company (NNPC) Ltd has announced the introduction of Utapate crude oil blend, a new crude oil grade into the international crude oil market. From Oil Mining Lease (OML) 13 and fully operated by NEPL, NNPC Ltd’s upstream subsidiary, the Utapate crude ...

Ambassador Nicholas Agbo Ella ……Prioritizing adoption of digital technologies and data analytics to improve operational efficiency…… The Permanent Secretary of Ministry of Petroleum Resources, Ambassador Nicholas Agbo Ella, has said that the optimization of the Midstream and Downstream sectors is not just an option but a necessity for enhancing efficiency, ensuring sustainability, and maintaining competitive edge in the global market. ...

Group Managing Director of Nigerian National Petroleum Company (NNPC) Limited, Mele Kyari, has said the firm is working to increase crude oil production to two million barrels per day by the end of 2024. He stated this during a meeting with Maritime Stakeholders at the Nigerian Navy Headquarters. He expressed optimism that the target would be met, emphasising that NNPC ...

Eni, the Italian multinational oil company has announced that it had received regulatory approval from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) for the sale of Nigerian Agip Oil Company Limited (NAOC) to Oando Plc. Eni said in a statement issued yesterday that formal consent had been received to finalize the deal. It will be the first deal to be ...

…says assets should deliver value to all stakeholders……. Seplat Energy PLC, leading Nigerian independent energy company listed on both the Nigerian Exchange and the London Stock Exchange, has called for prudent management of oil and gas assets in Nigeria in the country’s quest to drive growth in the energy sector and encourage expansion. The Chief Executive Officer, Seplat Energy, Mr. ...

…….As deep water segment in Nigeria stuck for 10 years…… …….by Ben Ndubuwa….In a bid to move the deep water projects of the Nigerian oil and gas sector forward , Country Chairman and Chief Executive Officer of TotalEnergies EP Nigeria Limited, Mr. Mathieu Bouyer has called on the federal government to ensure good fiscal incentives and healthy competition that will ...