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Global crude oil reserves jump by 52 Bbbls to 1.6 Tbbls
Upstream players to spend $528 bn in 2023 Sopuruchi Onwuka Despite the rave about peak oil and energy transition, upstream petroleum players across the globe still had the demand incentive to invest in discovery of over 52 billion barrels of…
Malaysian oil production hits ceiling at 2.0 mmboed
Sopuruchi Onwuka Oil and gas production from the state of Malaysia will reach the maximum capacity of 2.0 million barrels of oil equivalent per day (MMboed) by next year before maintain a plateau of taking a plunge. The Malaysian national…
Workers hospitalized in Russian gas field brawl
Sopuruchi Onwuka It appears everything about Russia is fighting its way into international stage where the country’s reputation as garrulous players is building from its invasion of Ukraine through a spark of militant insurrection that attempted a regime change. This…
Al JabervisitsM-KOPA, identifies SMEs as climate factors
Sopuruchi Onwuka President designate for the 28th meeting of the Conference of Parties (COP28) of the United Nations Convention on Climate Change (UNCCC), Dr. Sultan Ahmed Al Jaber, has declared that small and medium scale enterprises form credible mediums for…
Oil demand to slow by 2028 __IEA
New medium-term report by the International Energy Association (IEA) sees oil use for transport going into decline after 2026, but overall consumption is expected to be supported by strong petrochemicals demand. Growth in the world’s demand for oil is set…
Goldman Sachs banker accidentally sends sex tape to female colleague
[Agency report] A Goldman Sachs banker left the Wall Street giant after a working-from-home blunder saw him accidentally send a sex tape to a junior female colleague, according to reports. Adam Dell, who has a child with Salmon Rushdie’s ex-wife…
Eni focuses on Just Transition in its energy transition pathway
To replicate bioenergy in its operations Sopuruchi Onwuka Italy’s major energy multinational company, Eni, has declared that it would give priority to just transition as it takes measures to smoothen the path towards net zero emissions by 2050. A statement…
America dethrones OPEC at oil export market
ExxonMobil finds substitute to Nigeria’s light sweet crude in Guyana Sopuruchi Onwuka The American continent is projecting strong outlook for oil output in the year, claiming the status of swing producer from non-American members in the multilateral Organization of Petroleum…
Iran seizes Chevron chartered oil tanker
Iranian Navy on Thursday arrested and detained an ocean going tanker chartered by Chevron Corporation and sailing from Kuwait to Houston, United States. According to a story broken by Reuters news service quoting the U.S. Navy, the Marshall Islands-flagged oil…
Russia’s Putin confiscates assets of Fortum, Uniper
President Vladimir Putin signed a decree establishing temporary control of assets belonging to Finland’s Fortum, and its former German subsidiary Uniper. The move will add to confusion over the fate of other western firms in Russia amid plans for more…
