In April, Galp’s appraisal activities showed a potential oil reserve of at least 10 billion barrels. Shell also saw success in Namibia, confirming the presence of oil deposits at the offshore ...

Oil Jumps on Fresh U.S. Sanctions Against Russia A fresh wave of U.S. sanctions against Russia's oil industry is threatening to disrupt global supplies, sending crude prices to their highest in more ...

There have been several oil explorations by major oil conglomerates in the Southern African country of Namibia in recent years. Shell has announced a $400 million write-down related to an offshore oil ...

Oil markets have been focused on sanctions in the first days of 2025, with Biden tightening sanctions on China and preparing more for Russia and Iran.

Shell, as cited in a Reuters report Thursday, said the oil and gas reserves discovered in ... Portuguese oil company Galp also started to make a major discovery in a different offshore licence.

helps to confirm the Tupi field reserves, he said. Tupi, whose discovery was announced in November 2007, contains an estimated 5 billion to 8 billion barrels of oil, making it the largest ...

The recoverable oil from these reserves stands at about 2,325 million ... Another completed transaction involved ETU Energias, which acquired Galp Energia’s stake in offshore Angola for $443 ...

Namibia’s promising oil story was dealt a hapless blow last week when Shell wrote off some R7.6 billion it invested in exploration off the coast of the neighbouring ...

The industry regulator announced on Thursday that Nigeria's oil reserves will increase in 2024 ... Shell, Edison, Repsol Galp and Orlen. Venture Global could lose the cases and be forced to pay ...

He expected that it would add more than two billion barrels to Iraq's oil reserves, making it the largest oil discovery in central Iraq. He noted that the initial tests of the well showed a daily ...