China to Drill 118,000 Wells in Five Years – Rystad Energy
According to a report by Rystad Energy, China plans to increase oil and gas output in the next years to meet rising local demand and lessen the country's record-high reliance...
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Vitol Predicts Oil Will Trade Above $80 Per Barrel Soon
Vitol Group, the world's largest independent oil trader, anticipates global crude demand to rise by half a million barrels per day this winter as a gas-driven energy shortage prompts a...
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Oil Prices Influenced by ‘Transition Premium’ – OPEC SG
The Secretary-General of the Organization of Petroleum Exporting Countries (OPEC), Mohammed Barkindo, said crude oil prices are affected by a "transition premium" amid the changeover to renewables, as well as...
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Natural Gas in Key to the UAE’s Growth Over the Next 50 Years – ADNOC CEO
The UAE Minister of Industry and Advanced Technology and Managing Director and Group CEO of the Abu Dhabi National Oil Company (ADNOC), Dr Sultan Ahmed Al Jaber, has identified natural...
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Oil Demand to Rebound to Pre-Pandemic Level by Q1 2022 – ConocoPhillips CEO
According to Bloomberg, ConocoPhillips' Chief Executive Officer, Ryan Lance, believes that crude oil consumption will recover to pre-Covid-19 levels by early 2022, while supply will remain tight. ConocoPhillips is to...
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TGS Announces 2D Seismic Survey in Mauritania-Senegal-Gambia-Bissau-Conakry Basin
TGS, a global geophysical scientific data company, has announced plans to begin a new 2D seismic survey off the coast of Mauritania in the Mauritania-Senegal-Gambia-Bissau-Conakry (MSGBC) Basin, contributing to the...
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Shell Exits the Permian Basin for $9.5 Million
Anglo-Dutch oil corporation, Shell, has announced that it will sell its Permian assets to ConocoPhillips for $9.5 billion, making ConocoPhillips one of the largest Permian operators in 2022. The purchase...
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UN Climate Conference (COP26) Snubs Oil Majors Including ‘Principal Partners’
According to The Wall Street Journal, oil firms BP and Shell will have a smaller profile at the UN Climate Change Conference of the Parties (COP) in Glasgow in November...
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Ghana Establishes Petroleum Hub to Boost Economic Growth and Prosperity
Ghana is building a petroleum hub along the coast of the country's Western Region province to facilitate necessary industrial services such as rails, roadways, storage tanks, refineries, and air transportation....
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British Airways Flew Its First Carbon Neutral Passenger Flight Last Week
British Airways flew a completely carbon-neutral flight from London to Glasgow last Tuesday, using a combination of sustainable aviation fuel, offsets, and emissions-reducing measures like switching to half-power during taxiing,...
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