(World Oil) – The National Petroleum Corp. of Namibia aims to triple its stake in future oil and gas projects to 30% as the southern African nation is set for a surge in activity following multiple offshore discoveries. Namcor is “committed to actively participating in future oil and gas projects and generally aims to secure a minimum stake ranging between 20%
(Oil Price) – Producers of crude oil and natural gas will invest more in their business next year amid a stumbling transition away from hydrocarbons. The development may come as a surprise in the context of ever more transition commitments on the part of governments, but it simply proves one thing: while there is demand, there will be supply. Investments in
(Oil & Gas 360) – A federal report on oil and gas extraction from sovereign Native American lands shows a downward trend for one of the country’s poorest groups. The Office of Natural Resources Revenue shows that oil and gas production on Native American land was down over 25% and 10%, respectively, under the Biden-Harris administration compared to the
( World Oil) – OPEC doubled down on forecasts that global oil demand will keep growing to the middle of the century. World oil consumption is set to increase by 17.9 MMbpd, or roughly 18%, to 120.1 MMbpd by 2050, the Organization of Petroleum Exporting Countries said in its annual long-term outlook. It raised estimates covering the next two decades
(World Oil) – (Bloomberg) – Shell Plc’s Norwegian unit won’t pursue a project that would have used natural gas from its Nyhamna processing facility to make blue hydrogen due to a lack of demand. Having assessed its feasibility, Shell is shelving the project, company spokesman Jan Soppeland said Tuesday. That follows Friday’s announcement by Equinor ASA — Norway’s biggest oil
