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Valor | Energy Connection – Feb. 24, 2025

Valor

and Russia prepare for peace talks on Ukraine, with potential impacts on oil sanctions and seaborne shipments. Read more BP to abandon green energy target and ramp up oil Summary : BP will abandon its plan to expand renewable energy generation 20-fold by 2030, scrapping its target of reaching 50 gigawatts (GW) and maintaining its current 8.2

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Nigeria Oil Industry Overview

Drillers

Production grew fast, and today, Nigeria pumps close to 2 million BPD, which makes it the largest producer of crude oil in Africa. Nigeria joined OPEC in 1971 before it even had its own state oil company. The dispute continues as local communities sue oil companies for damages with mixed success.

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BP Expands U.S. Natural Gas Production Amid Rising Prices and LNG Growth

Oil Gas Leads

natural gas production, particularly in the Haynesville Basin, as domestic gas prices surge. CEO Murray Auchincloss, speaking at the CERAWeek conference in Houston, highlighted the companys renewed focus on oil and gas, marking a strategic pivot from its previous emphasis on renewable energy. million boepd by 2030.