Results for "Oil sector"

Major international energy and industrial firms are nearing completion of contractual pacts to resume operations and investments in Venezuela, signaling potential shifts in the country’s oil sector landscape.

Iraqi judicial authorities have sentenced a senior oil sector official to prison following corruption charges, marking another development in the country's ongoing anti-graft campaign.

The administration has tasked officials with resetting key national sectors, prioritizing the revitalization of the Task Force on Oil & Gas and establishing a regional energy hub.

The potential closure of the Strait of Hormuz directly impacts energy exports from Gulf countries, but Azerbaijan's oil sector is in a different position as it exports through alternative routes, putting it in the spotlight during the crisis.

BP has reportedly joined the Venezuelan oil trade, positioning itself to challenge established players like Trafigura and Vitol in the market. This move marks a significant entry for BP into the Venezuelan crude oil sector.

With major oil companies still hesitant to invest in Venezuela, Alejandro Betancourt is helping to direct opportunities towards smaller US operators, thereby increasing his power in the country's oil sector.

ONGC has secured a US licence to fully resume its operations in Venezuela and is reportedly eyeing operatorship in the country's oil sector.

Civil Society Organizations (CSOs) are urging the Nigerian federal government to publish the Memorandum of Understanding (MoU) for the $2.5 billion JBS livestock deal. They warn against repeating past mistakes made in the oil sector and demand transparency regarding the agreement.

Fluctuations in global oil prices are reportedly opening up new trading opportunities for African traders. These market dynamics are creating a different landscape for those involved in the continent's oil sector.

The US Senate has taken initial steps towards enacting new sanctions against Russia and Iran, aiming to pressure Russia through its oil sector, a move some suggest could hasten the decline of American power.

Large-cap companies across the aviation, technology, and oil sectors have collectively declared more than $10 billion in stock buyback programs.

Suriname's substantial investment in its oil sector, amounting to $26 billion, is now yielding positive returns, indicating a successful venture for the South American nation.

Pakistan is moving towards a phased deregulation of its oil sector, with a committee agreeing to relinquish price control. This move is believed to benefit consumers in the long run.

A new report indicates that Nigeria plans to boost its oil refining capacity to 2.6 million barrels per day by 2030 through the development of 24 new plants, aiming to transform its oil sector and meet domestic demand.

Ghana's oil sector has attracted $3.5 billion in investment as production rebounds, according to Ato Forson. The downstream sector requires policy certainty and further investment to drive growth.

President Trump hinted at major US investments in Iraq's oil sector during a visit from Iraqi Prime Minister Ali al-Zaidi, teasing 'massive' oil deals between the two countries.

Iraq's crucial oil lifeline has been saved, ensuring continued oil exports, but questions remain about the long-term stability and duration of this resolution. The situation highlights ongoing challenges in the country's oil sector.

The oil sector in Pakistan has been assured that outstanding Price Differential Claim (PDC) payments, amounting to Rs66 billion, will be settled, following a key meeting with the Oil and Gas Regulatory Authority (OGRA).

The labor dispute between Safe and Offshore Norway in the oil sector is deadlocked, with Aker BP shutting down an oil production well and oil workers reporting strike-breaking.

The Nigerian House of Representatives is threatening sanctions due to the poor implementation of the Petroleum Industry Act (PIA), noting that despite funding, the intended impact on communities is not being achieved.

A Bloomberg report details the journey of an individual who, despite being an outsider to the traditional oil sector, has become one of the most vocal and steadfast proponents of the shale industry.

Thailand has expressed interest in investing in Ghana’s palm oil industry, following discussions with Ghana's Ministry of Food and Agriculture aimed at strengthening agricultural cooperation between the two nations.

The Portuguese olive oil sector faces a paradox, focusing on production quality but struggling with effective marketing to consumers, with an example cited of its sale in US pharmacies.

After 78 days, India's Ministry of Finance has reportedly decided against extending further financial support to the oil sector, following the Iran War.

Nigeria's oil sector saw a 283.3% increase in foreign capital, attracting $460,000 in the first quarter of 2026, according to data from the National Bureau of Statistics.

The UAE's GDP hit $517 billion in 2025, driven by a robust 6.8% growth in the non-oil sector, indicating successful economic diversification efforts.

Rabiu Umar, the new chief of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), has outlined an agenda for operational overhaul to enhance regulatory discipline, efficiency, and professionalism in Nigeria's oil and gas industry.

Norway's stock market is experiencing a leading rally in Europe, with growth extending beyond its traditional oil and gas heavyweights to other sectors.

Iran's oil sector and economy are experiencing significant pressure as the U.S. blockade intensifies, leading to concerns that the country's oil exports may soon be unable to find markets.

US-based Special Purpose Acquisition Company (SPAC) Blue Water is reportedly eyeing a deal with Maha, signaling a potential new investment in Venezuela's oil sector.

U.S. sanctions on a private Chinese refiner, previously focused on smaller entities to curb Iran's oil revenues, could now have wider economic and diplomatic consequences beyond the oil sector.

EU envoys are reportedly poised to adopt the 20th package of sanctions against Russia. This new package is expected to deliver a strong blow to Russia's oil sector.

Adriatik Lapaj, head of 'Shqipëria Bëhet,' has announced that his team has drafted a criminal complaint to be filed with SPAK, Albania's special prosecution, seeking investigations into alleged mismanagement of the country's oil sector.

The American oil sector is experiencing a significant moment, with an article highlighting IYE as a straightforward way to invest in it.

The United States has announced a new round of sanctions targeting Iran's oil sector.

An article suggests that corruption, exemplified by a recent oil sector scandal, is hindering President Ruto's vision for Kenya, often referred to as the "Singapore dream," due to a lack of commitment to eradicate it.

Recent reforms in Nigeria's oil sector are boosting production and have unlocked over $24 billion in investments, as the NNPC aims for a target of 3 million barrels per day using AI and digital technology.

Today, many in Europe recognize the threat of Iran, but were not willing to launch a sudden offensive operation against it without due consultation and giving diplomacy a chance.

Fuel prices in Ethiopia have surged by 26% at a time when the Ministry's office is grappling with corruption issues within the oil sector, raising public concern.

Røkke's oil chief reportedly received a salary package of nearly 18 million last year, an increase of approximately two million kroner from the previous year. This compensation package highlights executive earnings in the oil sector.

Major oil companies are reportedly increasing their investments and operations in Libya, signaling a renewed confidence in the country's oil sector.

Anutin calls oil sector talks over vanishing fuel shortages at petrol stations  Nation Thailand

A report projects that the Gulf oil sector will contribute $561 billion to the regional economy in 2024, highlighting its significant economic impact.

Despite a desperate need for their expertise, oil expats are unwilling to return to Venezuela, highlighting challenges in the country's oil sector.

Chevron and Shell are reportedly close to finalizing their first major oil production deals in Venezuela since the US captured Maduro, marking a potential shift in the country's oil sector.

Senegal's Ministry has released the production and marketing figures for the country's gas and oil sector.

An analysis of the current state of the oil sector, discussing the surge in oil stocks and factors investors should consider for future performance.

Azerbaijan is taking steps to institutionalize artificial intelligence as part of its strategy to achieve economic growth beyond its oil sector.

Under pressure from Washington, Venezuela's interim president Delcy Rodriguez has announced an amnesty for political prisoners and reforms to open the oil sector to private investment.

North Sea Crude-WTI prices have slipped following three recent deals, indicating market movements in the oil sector.

Venezuela is undergoing a major structural transformation in its oil industry, with new developments unlocking production capacity and altering long-term market dynamics.

Industry analysts highlight increasing operational and market challenges facing Norway's crude production, contrasting it with the continued strength of natural gas exports.

Diplomatic sources indicate advanced discussions between Washington and Caracas regarding potential American corporate participation in Venezuela's oil sector.

Coverage highlights ongoing activities, regulatory updates, and investment trends within Nigeria's offshore oil sector, reflecting the country's energy market dynamics.

Investment analysis compares three major energy giants to determine which oil and gas stock has delivered superior returns in 2026, evaluating operational efficiency and market positioning.

The Spanish olive oil sector is reportedly threatened by a lack of customs control and absence of 'mirror clauses' against imports, with Tunisia selling 85% more oil to Spain than in 2016.

Ghana is prioritizing exploration and new investments, including a target of $3.5 billion, to reverse its declining oil production and restore investor confidence. The Ghana National Petroleum Corporation (GNPC) is leading efforts to recover oil output.

An Indian oil giant has obtained a license from the United States, allowing it to resume its operations and return to Venezuela's oil sector.

ONGC has secured a US licence to fully resume its operations in Venezuela and is reportedly eyeing operatorship in the country's oil sector, as confirmed by ET EnergyWorld.

An analysis indicates that the Middle East's natural resources reveal a complex map of abundance and scarcity. Countries with smaller resource bases have increasingly focused on non-oil sectors like finance, logistics, and tourism.

A Nigerian official stated that without President Tinubu's reforms, the country's fuel subsidy could have reached ₦53 trillion and the dollar exchange rate could have soared to ₦3,500, attributing the economic burden to an unsustainable subsidy regime, an underperforming oil sector, and a narrow tax base.

Delta State officials are urging investments beyond the oil sector to diversify the state's economy, emphasizing that the region can no longer depend solely on oil.

The International Monetary Fund (IMF) has called on Guyana to resolve its cost-oil disputes with Exxon and strengthen oversight of the oil sector. This recommendation aims to improve financial transparency and management.

Warren Buffett's long-standing investment in the oil sector is reportedly yielding significant returns under the leadership of Greg Abel, though this success has largely gone unnoticed.

Portugal announced plans to create a new tax targeting the exceptional profits of the oil sector, with revenues intended to support families and sectors most affected by rising fuel prices.

Nigeria's House of Representatives Committee on Petroleum Resources (Downstream) has initiated efforts to bridge the divide between petroleum importers and domestic refiners. This move is part of broader measures aimed at strengthening the country's downstream oil sector.

Estonian Prime Minister Kaja Kallas stated that the EU is preparing additional steps to increase sanction pressure on Russia, with the latest package targeting hundreds of banks, crypto platforms, and the oil sector in Russia and Belarus.

The Italian government has initiated a crackdown on fraud and counterfeiting in the olive oil sector, adopting a zero-tolerance policy with increased controls targeting those who violate regulations.

The articles focus on a prominent figure referred to as the 'King of the Oil Industry.' This highlights an influential individual within the global oil sector.

Oil giants Shell and ExxonMobil are committing billions of dollars to Nigeria's deepwater oil sector, signaling a major comeback for the region's energy production. This investment highlights renewed confidence in Nigeria's offshore potential.

Iraq is pushing for a larger quota within OPEC, a move driven by the country's need to address revenue pressures and support new investments in its oil sector.

Economists report that Nigeria's revenue reached N15.8 trillion in early 2026, attributing the increase to recent tax reforms and improved earnings from the oil sector.

A group in Nigeria is pushing for the retention of $240 million annually spent on oil sector training within the country, aiming to boost local capacity and reduce capital flight.

Vietnam and Tunisia are strengthening their trade relations, with a particular focus on increasing cooperation in the coffee and olive oil sectors.

SLB has announced a partnership with Venezuela's state-owned oil company PDVSA to modernize the country's oil sector using artificial intelligence technologies.

Colombia's struggling oil sector is reportedly exploring opportunities for a resurgence by focusing on potential ventures within Venezuela.

Tunisia has reported robust performance in its olive oil sector, with exports reaching an impressive $1.24 billion over a six-month period, highlighting its strong agricultural trade.

Chevron's CEO stated that Venezuela needs to offer better contract terms to attract foreign investment in its oil sector. This call highlights the challenges and requirements for increasing international participation in the country's energy industry.

High-level presentations and discussions involving top representatives from the Greek olive oil sector, the International Olive Council, and the European Commission focused on the future prospects of Greek olive oil towards 2030.

SM Energy received a double-upgrade from Raymond James, citing a bullish outlook on the oil sector.

Manuel Norte Santo, president of the Alentejo Olive Oil Study Center, advocates for greater unity within the Portuguese olive oil sector to establish a strong brand and enhance its value abroad. He also states that the current price for olive oil is fair.

Experts from NOVA SBE and Capgemini stated at the National Olive Oil Congress that artificial intelligence can enhance harvests, control pests, and boost competitiveness in the olive oil industry.

Woodside has released its sales figures for Senegalese oil and announced a decrease in production rates, impacting the country's oil sector.

According to the Petroleum Chamber, less than 30% of Venezuela's oil wells are currently in operation, indicating significant underutilization in the country's vital oil sector.

Azerbaijan's trade with the United States has seen a significant increase, indicating growing confidence in sectors beyond its traditional oil industry.

Venezuela's interim government is actively seeking foreign investors for its oil industry, which is undergoing rapid transition after the US ousted Maduro. The government aims to reform the sector but faces challenges due to a lack of democratic backing.

Lenders are reportedly making a renewed push to halt the revival of a previously terminated transaction involving the sale of the Amukpe-Escravos pipeline, raising questions about valuation discipline in Nigeria's oil sector.

The Nigerian National Petroleum Company Limited (NNPCL) has emphasized the critical role of pipeline security in boosting oil production growth and attracting investor confidence in the country's oil sector.

Alaska's economy is heavily reliant on the oil sector, a foundation deemed unstable amidst global energy fluctuations. Voters this year will decide on potential reforms to this system, impacting the state's future.

Venezuela's Delcy Rodríguez has presented the country's newly opened oil sector to potential investors during a summit held in Miami, signaling efforts to attract foreign capital.

Azerbaijan is diversifying its economy away from oil by launching the region's largest livestock project, aiming to boost its non-oil sector.

As President Tinubu visits the UK, the FT explores how his economic shock plan is playing out; Nigeria’s political age gap; moves to unblock the oil sector; the growing security crisis; investment flows; and a Q&A with the central bank governor

Venezuela's interim president has appointed a new oil minister, signaling a change in leadership for the country's vital oil sector.

The Trump administration cited three reasons, ‌including a goal to ​cooperate with Iran’s oil sector after ⁠the war, according to the report

Trump's Venezuela Oil Plan Runs Into Hard Reality Authored by Andrew Topf via oilprice.com, Last week US President Donald Trump announced that Venezuela’s interim authorities will turn over up to 50 million barrels of oil to the United States, before later declaring his administration will control Venezuela's oil sales “indefinitely”. Decrying the state of Venezuela’s oil sector, including that the South American country now pumps a fraction of what it used to, Trump said, “W...

Argentina's President Milei's expanded incentive plan is expected to draw significant investment into the country's shale oil sector.

According to data released by the National Bureau of Statistics, Nigeria’s economy expanded by 4.07 per cent in the fourth quarter of 2025, with growth recorded across agriculture, industry and services. The post Nigeria’s economy grows 4.07% in Q4 2025 as non-oil sector drives expansion — NBS appeared first on Premium Times Nigeria.

The Syrian central government has reportedly regained control over all of the country's oil resources after driving out Kurdish forces from northeastern Syria. However, the oil wells are in poor condition due to fighting and chaotic extraction.

Venezuela is in a new political phase after President Nicolas Maduro's removal. Delcy Rodriguez now leads an interim administration. Diplomatic ties with Washington are restoring. The oil sector is opening to private operators. Hundreds of detainees have been released. However, the security apparatus remains. Elections are not yet announced. Key figures of the old establishment continue in power.

Iraq’s Integrity Commission handed down a seven-year prison term and substantial fines to a former oil sector executive and parliamentarian convicted of accumulating illegal wealth.

High profits are a sign that investments are needed in the oil sector, which European energy policy insists on denigrating in the hope of accelerating the transition to...

According to Axios, the Trump administration is currently negotiating with Venezuela’s interim government to secure a proprietary stake in the country’s petroleum assets.

Analysts identify three energy equities positioned to benefit from Baghdad's ambitious plans to increase production capacity and modernize its petroleum infrastructure.

The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has called for oil regulators to be evaluated based on industry results rather than just licenses and approvals. This statement emphasizes a focus on tangible outcomes in the Nigerian oil sector.

Pakistan's Economic Coordination Committee has pushed back the target for oil-sector digitisation to March 2027, also removing the digitisation pre-condition for an increase in dealers' margins.

Kazakhstan's oil sector experienced an 8.9% drop in production during the first seven months of 2026, reaching 53.2 million tons, though export revenues present a more positive outlook.

Iraq's average daily oil exports have recovered significantly in August, reaching their highest levels since the outbreak of the Middle East war, which had previously put pressure on the country's oil sector.

Dr. John Abdulai Jinapor, Minister for Energy and Green Transition, has called upon the Ghana National Petroleum Corporation (GNPC) to build on its recent progress by strengthening performance, increasing investment, and delivering greater value to Ghana's oil sector.

Kazakhstan's economy expanded by 4.1% in the first seven months of 2026, maintaining its growth pace despite an 8.9% decline in oil production, with non-oil sectors showing significant expansion.

Nigeria’s foreign exchange demand for oil sector imports surged by 115% in 2025, as revealed by the CBN.

Democrats are planning to scrutinize soaring profits in the oil sector if they gain control of the House of Representatives in the midterm elections, potentially leading to congressional investigations and hearings.

Sources in the oil sector claim that the influx of smuggled Iranian oil has significantly declined after tankers were targeted in Balochistan, leading to heavy losses for those involved in the illegal trade.

An oil shock originating from the Middle East conflict has the potential to generate a substantial $495 billion windfall for the upstream oil sector.

The Nigerian Senate has scheduled a 23-day probe into the country's oil sector audit, summoning the NNPCL, CBN, and other organizations to provide relevant information and be represented by their chief accounting officers.

Sources indicate that oil executives are reportedly in a rush to finalize the migration of contracts in Venezuela, suggesting significant activity within the country's oil sector.

The Batista Brothers have successfully clinched a stake in Venezuela's oil sector, indicating a growing momentum in deals within the country's energy industry.

Iraq's Prime Minister Ali al-Zaidi signed 48 agreements with US companies, many in the oil sector, during his visit to boost Iraq's economy.

Venezuelan President Nicolás Maduro, through Vice President Delcy Rodríguez, confirmed that recent earthquakes had no impact on the country's oil industry. This assurance aimed to allay concerns about potential disruptions to the vital sector.

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has awarded 19 oil prospecting licenses to 12 firms during the 2024 bid round. NUPRC also commended ExxonMobil's $1 billion deepwater investment, highlighting its significance for the Nigerian oil sector.

Portugal is hosting the world's largest olive oil sector event, where Minister José Manuel Fernandes advocated for innovation and investment. The country's olive oil production is estimated at 179,000 tons for 2025/26.

A Nigerian House of Representatives committee has pledged to implement tougher oversight and tighter scrutiny of operators within the petroleum midstream sector. This initiative aims to enhance accountability and regulation in the industry.

Former Minister of Petroleum Resources, Diezani Alison-Madueke, suggested that her efforts to combat corruption in Nigeria's oil industry and the powerful interests she affected contributed to her subsequent legal and political challenges.

An analysis highlights a significant, potentially overlooked $42 trillion opportunity within the oil sector, suggesting vast untapped potential for investors and industry players.

American investment funds are reportedly rushing to invest in Venezuela's energy sector, seeing significant opportunities after the removal of Nicolás Maduro from power.

EnQuest has announced an $833 million investment in Malaysia's offshore oil industry, signaling a significant commitment to the region's energy sector.

Non-oil trade between Nigeria and the United Arab Emirates has reached $5 billion, according to a statement from the UAE envoy. This figure highlights the growing economic ties between the two nations outside of the oil sector.

An analysis compares Occidental Petroleum and Exxon Mobil to determine which company is a better investment in the oil sector for the year 2026.

Nigeria's economy expanded by 3.89% in the first quarter, primarily boosted by growth in the agriculture and telecommunications sectors. This growth occurred despite a slowdown and lower output in the oil sector.

Nigeria's local content policy has significantly boosted its oil and gas sector, increasing the number of operating firms from under 10 to 117 and creating numerous jobs. This transformation highlights the policy's impact on local industry development.

The Senegalese ministry responsible for energy has disclosed the latest production and marketing figures for the country's gas and oil sectors.

Slovak industrial production weakened due to a downturn in vehicle manufacturing and a nearly 46% drop in refined oil products, though the food and energy sectors saw growth.

Oil expert Malick Dramé provides essential insights into the Yakaar Teranga project, discussing the opportunities and challenges it presents for the State and Petrosen in Senegal's oil sector. The project is expected to have significant implications for the country's economy.

The Athens Stock Exchange is experiencing continued weakness, navigating through uncertain market conditions. Negative signals from the oil sector are contributing to the overall subdued performance.

Senegal's ministry has released the latest production and marketing figures for the country's gas and oil sector.

Wall Street securitization deals, backed by cash flows, are gaining popularity and driving a new boom in the US oil sector, reflecting strong investor demand for esoteric debt.

The Paphos Chamber of Commerce and Industry participated in a three-day meeting in Bastia, Corsica, as part of the Olive Oil Med Net project, aiming to strengthen cooperation and knowledge exchange in the Mediterranean olive oil sector.

Global markets, particularly the oil sector, are exhibiting calm and comfort in anticipation of potential talks between the United States and Iran. This market stability reflects hopes that diplomatic engagement could help de-escalate tensions.

ExxonMobil has announced plans for a significant $16 billion investment in Nigeria's oil sector, specifically targeting deepwater projects such as Erha, Usan, and Owo, signaling renewed confidence in the region.

Pakistan's oil sector has rejected a proposed model for guaranteed returns, deeming it misplaced and likely to necessitate year-round subsidies.

The Romanian government is set to convene an extraordinary session today to approve an emergency ordinance that will reduce the excise duty on standard diesel by 30 bani/liter and institute a solidarity contribution for oil sector companies.

Venezuela's economy remains trapped between paralysis and inflation, as economic recovery has not materialized despite the easing of US sanctions aimed at boosting the oil sector.

Venezuela's Vice President Delcy Rodríguez presented the country's newly opened oil sector to potential investors during a summit held in Miami.

Entrepreneur Petar Gonja, with 35 years of experience in the oil sector, acknowledges the concern and uncertainty in Serbia regarding the current oil crisis but advises against panic. This reflects a domestic perspective on the broader international oil market situation.

The industry is showing signs of change but production still lags behind potential

Azerbaijan's Gross Domestic Product (GDP) saw a slight increase in early 2026, driven primarily by growth in its non-oil sector.

Chevron and Shell are reportedly moving closer to finalizing their first major oil production deals in Venezuela since the US captured Maduro, marking a potential shift in the country's oil sector.

The Kremlin expressed satisfaction with the 'open and businesslike' hour-long call between Presidents Putin and Trump, initiated by Trump, suggesting further easing of sanctions on Moscow in the oil sector.

Oando Energy Resources reaffirms its commitment to indigenous upstream growth in Nigeria’s oil sector following a strategic visit from IPPG’s chairman. Read More: https://punchng.com/oando-reaffirms-support-for-indigenous-upstream-growth/

An article discusses how the United States' control over Venezuela's oil industry poses a threat to Ecuador's already struggling oil sector.

TotalEnergies' Managing Director stated that Nigeria's Petroleum Industry Act (PIA) is facilitating transparency and attracting foreign direct investment in the country's oil sector.

Record Resources is investing in Gabon's offshore oil sector through a low-cost, high-upside joint venture, aiming to capitalize on new opportunities.

The United States has issued two licenses to international firms, allowing them to operate in Venezuela's oil industry. This move signals a potential shift in US policy regarding the sanctioned nation's energy sector.