Major oil and gas exporters need to reform and diversify their economies in order to overcome the financial risks in the years ahead, the new report by International Energy Agency (IEA), Outlook for Producer Economies, observed
Gas
Upstream players must boost spending to meet future demand
Global oil and gas development spending needs to increase by around 20 per cent to meet future demand growth and ensure companies sustain production in the next decade, according to Wood Mackenzie, a UK-based energy consultancy group
NOCs forecast to spend more than US$116bn in new petrochemicals projects, says GlobalData
National Oil Companies (NOCs) are diversifying beyond their upstream oil and gas core, with major NOCs forecast to spend more than US$116bn in new petrochemicals projects, according to GlobalData, a data and analytics company
IEA: Global LNG market raises new challenges for the global security of energy supplies
The evolution of the global natural gas market, which has been driven by the growth in liquefied natural gas (LNG) demand, continues to change the relationship between buyers and sellers and raises new challenges for the global security of energy supplies, according to the International Energy Agency (IEA)
Nigeria launches virtual gas pipeline system
The Nigerian National Petroleum Corporation (NNPC) and a private firm have signed a contract for the activation of virtual gas pipeline network for power generation, in the drive for optimisation of the nation’s vast gas resources
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