11 September 2024
11 September 2024
The energy body anticipates that OPEC+ production cuts will decrease global oil reserves, as global oil consumption is expected to outstrip global oil production.
The body’s monthly report indicates a 2025 growth at 1.7 million barrels per day (mbbl/d), slightly below this year’s figure.
Nigeria has experienced numerous cases of oil theft and pipeline damage in the past few years, prompting the government to take tough action.
Preliminary estimates suggest the discovery holds between two and four million standard cubic metres of recoverable oil equivalent.
Testing of the well yielded an absolute open flow natural gas production rate of 430,000m³ per day.
This is the first agreement of its kind to be signed between European companies.
An undisclosed buyer will acquire assets in the Central Basin Platform, Texas and New Mexico Shelf, and Northwest Shelf.
A study has looked at about 20 possible options, which will then be examined in more detail.
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