Equinor has sold a 40.81% equity interest in the Bressay oil field in the Northern North Sea to UK-based petroleum exploration firm EnQuest.
Nigeria played a key role in making India’s December crude soar to highest levels in nearly three years even as the African country has become the fourth biggest crude supplier to the Asian nation.
India has described the latest decisions by OPEC regarding oil supply as confusing, even as many importers are seeing their expectations of higher volumes disappointed.
The Organization of the Petroleum Exporting Countries is in support of the adoption of electric vehicles in a sustainable manner to reduce emissions.
Nigeria’s newest crude grade called Anyala will soon arrive in Europe as the first export cargo of the crude is on its way to Northwest Europe.
Oil and gas supermajor Total has said it will not renew its membership in the American Petroleum Institute (API) for 2021 due to divergences with the main U.S. oil lobby over climate policies.
Total has announced a new discovery of oil and gas offshore Suriname in the Guyana-Suriname basin, alongside Apache Corporation.
The Federal Government is currently taking measures to mitigate the impact of the oil output cut deal by the organization of the Petroleum Exporting Countries and its allies.
As part of global workforce reduction plan, oil major Shell will be cutting 330 jobs from its North Sea operations, mostly office jobs based in Aberdeen, the supermajor said on Tuesday.
Oil price rose above $56 per barrel on Tuesday due to Saudi Arabia’s plan to limit supply offsetting worries that rising coronavirus cases globally would curtail fuel demand.