Oil & Gas

Eni and BP resume onshore exploration in Libya’s Ghadames Basin, signaling renewed international interest in Libya’s oil sector

Key Points Aisha Achimugu, CEO of Oceangate Oil and Gas Engineering, has partnered with Global Petroleum Group to develop offshore oil and gas resources near Grenada, with the project valued …

KEY POINTS • U.S. crude inventories increased by 5.5 million barrels, driven by higher imports.• Gasoline stocks rose unexpectedly by 900,000 barrels as refineries ramped up production.• Distillate stockpiles fell …

Mantashe emphasizes the potential of South Africa’s oil and gas sector, calling for investment and recognition of petroleum in the energy mix

U.S. fossil fuel production reached record levels under Biden, driven by global demand and geopolitical shifts. Learn about the surprising growth and its impact on the industry.

OPEC’s oil output hit its lowest level in 2024 due to disruptions in Libya and Iraq’s compliance efforts, impacting global oil supply dynamics.

KEY POINTS Oil-producing nations in Africa have raised 45% of the initial $5 billion in seed capital for the planned Africa Energy Bank, which will fund oil projects on the …

OPEC+ has decided to maintain its output policy, with an increase planned in December. Emphasis remains on ensuring compliance from member nations.

Falling oil prices threaten major oil companies’ ability to maintain shareholder payouts. Firms may need to borrow or cut share buybacks in response to declining profits.

NOSDRA plans to enhance oil spill regulations, collaborating with CNA to implement global safety standards and improve regional oil spill response efforts