Industry

API releases new sustainability reporting guidance with international community

chris liverani XLFu0PM5Qsg unsplashThree leading global natural gas and oil industry associations – API, IPIECA and IOGP – released the fourth edition of the “Sustainability Reporting Guidance for the Oil and Gas Industry

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‘Nigeria is most vulnerable as crude demand declines and supplies build up’

the outer port 3108235 640Nigeria is the most vulnerable country with the least capacity to spare as crude demand declines and supplies build up, according to a new assessment of oil markets by IHS Markit

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More than US$50bn in capex cuts announced in oil and gas sector

riggg oraAs the oil and gas sector comes to terms with decade-low oil prices and global disruptions caused by the coronavirus (COVID-19), company costs and investments are being slashed with more than US$50bn pledged to date and more on the horizon, according to GlobalData

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Forties pipeline shutdown will worsen oil supply glut: Rystad Energy

netherlands 1707392 640Energy research firm Rystad Energy stated that the delayed shutdown of the Forties Pipeline System could increase North Sea production to around three million barrels per day (bpd)

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Nigeria to review laws setting up oil and gas free trade zones

Bola oil and gas free zonesNigerian government is reviewing the act establishing oil and gas free zones authority (OGFZA) to remove ambiguities and enhance effectiveness

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