Remove 2022 Remove Crude Oil Remove Exploration and Production
article thumbnail

African national oil companies (NOCs) partnering with independents to drive E&P

Oil & Gas 360ยบ

Boosting production Major oil producers in Africa are striving to boost production and NOC-IOC collaboration is at the forefront. Algerias Sonatrach will increase hydrocarbon production by 2.5% Algerias Sonatrach will increase hydrocarbon production by 2.5%

E&P 130
article thumbnail

30% of Ghanaโ€™s crude oil consumption purchased through Gold for oil programme โ€“ Lands Minister

Reporting Oil and Gas

Jinapor emphasized that the government’s decision to acquire crude oil without relying on dollars through this innovative approach had significantly curtailed the depreciation of the Ghana Cedi, playing a crucial role in bolstering the national economy.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Gastech Days I & II: Energy transformation through innovation

Oilholics Synonymous Report

The state of Texas is the US' top crude oil and natural gas producing state. As Q4 2024 approaches, the US remains world's largest LNG exporter and its largest crude oil producer. All at a time when oil prices are currently lurking around 2021 lows.

article thumbnail

Depletion Allowance for Oil and Gas Overview

Aresco

For oil and gas, the percentage depletion rate is set at 15% of the gross income from the property, subject to certain limitations and qualifications. This includes expenses related to exploration, development, and extraction. Oil and gas tax deductions 2023 did not change significantly from oil and gas tax deductions 2022.

Oil 52
article thumbnail

What 2024 Taught Us: From Offshore Discoveries to Net Zero Ambitions, What Mattered Most

Rextag

shale oil production surged to 10 million barrels daily , reinforcing Americas role as a cornerstone of global energy stability. LNG exports played a pivotal role in diversifying Europes energy sources, slashing dependence on Russian gas by 40% since 2022. Record U.S. Shale Output: U.S. LNG Export Dominance: U.S.

article thumbnail

Energy executives bask in Trump sun but ignore cheap energy pitfall

Oil & Gas 360ยบ

The United States already became the worlds top oil and gas producer under former President Joe Biden. Energy Information Administration expects crude oil production to rise to a new record average of 13.61 shale oil production is set to plateau by the end of the decade. million bpd in 2026.

Energy 130