Oil and gas companies are investing in green energy while maintaining fossil fuels. Despite emission reduction targets, investment in renewable energy remains low relative to spending on fossil fuels.
Next Bridge Hydrocarbons, an oil and natural gas exploration and production company, has completed a strategic merger and acquired working interest in the Orogrande project. This transaction strengthens Next Bridge’s presence in the Texas and Oklahoma energy sector, providing new opportunities and a strong position for the future.
Argentina is developing its oil sector, especially with the exploitation of Vaca Muerta, a huge gas and oil deposit. YPF, the country’s main oil company, is targeting production of 1.2 million barrels per day in the coming years.
Equinor is restarting production at the Njord oil and gas field in Norway, after a six-year hiatus for upgrading. The company announces the launch of production of a new satellite to extend the life of the aging facility, as well as the challenges faced due to the pandemic.
National Oil Corp’s subsidiary in Libya signs contract with Honeywell for the South Refinery.
The Zama Unit Development Plan marks a significant milestone for the Mexican oil industry and for the project owners, who have worked closely together to provide an efficient and cost-effective solution to develop the resources of the Zama oil field.
European natural gas reaches a new low despite colder temperatures, thanks to high storage levels and good management of the energy crisis. Meanwhile, the oil market is moving without any real trend.
Eni and Abu Dhabi National Oil Co (ADNOC) have signed a memorandum of understanding to explore energy transition projects, as the Italian government seeks to strengthen ties with the United Arab Emirates.
Norway has recorded record oil and gas revenues in 2022, reaching 1.457 billion kroner, three times more than in 2021, according to official figures released Monday.
South Korea is continuing negotiations on a free trade agreement with the Gulf Cooperation Council to enhance its energy security and improve the economics of importing sour crude from the Middle East. Discussions focus on opening markets for products and services, improving environmental trading conditions and intellectual property rights.
