US Oil and Gas Majors slash Capex, Canadian’s Auction Equipment to stay afloat. Major U.S. oil and natural gas producers are slashing capital spending for next year in response to a near 60 percent drop in global crude prices, but few, if any, are forecasting a drop in production. Oil majors Exxon Mobil Corp and…
Use of Technology can Keep Oil and gas Abundant- BP Technology can be used to increase the world’s proved oil and gas reserves by two thirds — almost double the amount needed to meet demand through 2050 — keeping energy supplies plentiful and affordable, according to BP Plc as reported by Bloomberg. The amount of…
More Transparency in NNPC Opens Bid for the Sale of 26 grades of Nigeria Crude Oil in the full glare of the public. The new wave of openness and transparency pervading the operations of the Nigerian National Petroleum Corporation (NNPC) received fresh impetus on Tuesday with the public harvesting of 278 bids submitted by indigenous…
Know About the World Biggest Oil and Gas production company- Saudi Aramco In 1944, Saudi Arabia and four American oil producers jointly founded what they called Aramco, short for Arabian-American Oil Co. Earlier, the business had been called California-Arabian Standard Oil Co. In 1980, the Saudi government nationalized it and changed its name first to…