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Shell Makes Significant Oil Discovery Offshore Namibia

Shell has discovered a significant oil and gas deposit offshore Namibia in the Graff-1 well. The Namibian government has verified the discovery, which is estimated to hold between 250 and...
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Russia to Resume Oil Output To 90% Of Pre-pandemic Level – Novak

Russia will be able to restore oil output to 90% of what it was before the virus, according to Russian Deputy Prime Minister Alexander Novak, who spoke to Russian television...
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25th OPEC and Non-OPEC Ministerial Meeting Concludes

Following the conclusion of the 25th OPEC and non-OPEC Ministerial Meeting (ONOMM), held via videoconference on Wednesday, 2 February 2022, and in view of current oil market fundamentals and the...
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TotalEnergies and CNOOC Reach FID on Ugandan Lake Albert Development

The Final Investment Decision (FID) for the Lake Albert Development in Uganda has been announced by TotalEnergies, a French energy company, and the China National Offshore Oil Corporation (CNOOC). TotalEnergies...
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OPEC+ Still Expects Oil Surplus This Year – Reports

According to a report from OPEC+'s Joint Technical Committee meeting earlier this week, the global oil market will remain in surplus this year, but the overhang has been reduced by...
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Germany: Shell Forced to Reroute Oil Supplies to Alternate Depots After Cyberattack

Shell's oil supply chain in Germany has been damaged by a cyber-attack on a German oil storage and logistics firm, and the supermajor said on Tuesday that it is rerouting...
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ExxonMobil Earns $23 Billion in 2021, Initiates $10 Billion Share Repurchase Program

ExxonMobil reported its highest profit in seven years in 2021, thanks to surging energy prices, which boosted the company's income by more than $100 billion. The largest oil company in...
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Qatar to Supply EU with More LNG If Certain Conditions are Met

Qatar, one of the world's top LNG producers, wants the European Union to limit the resale of gas shipments outside the EU in exchange for Qatar agreeing to redirect emergency...
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Nigeria Lost Close to Half a Billion in Oil Revenues to Force Majeure in December

According to Nigeria's National Oil Company, the Nigerian National Petroleum Corporation (NNPC), OPEC's largest African producer, lost an estimated $487.5 million in oil earnings in December 2021 due to force...
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Chevron Records Best Yearly Earnings For 7 Years

Chevron (NYSE: CVX) had a record-high free cash flow and its strongest annual earnings since 2014, thanks to rising oil and gas prices and an economic comeback in 2021. In...
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