The investment in the global oil and gas upstream sector has increased by 39 per cent to $499bn in 2022, the highest level since 2014 and the most significant year-on-year gain in history.
This was according to a new report by the International Energy Forum and S&P Global Commodity Insights.
The report claimed that higher costs primarily drove the increase in investment. Also, the global rig…
Nigeria’s crude oil production plunged by 2.3 million barrels in July 2022 when compared to what the country produced in the preceding month of June, data from the Organisation of Petroleum Exporting Countries showed on Thursday.
In its latest Monthly Oil Market Report for…