Madagascar Oil SA, which operates the Tsimiroro Oil block 3104, announced it has signed contracts to supply heavy oil to some of Madagascar's largest industries located in the Vakinankaratra region.
The world’s biggest oil company reiterated its warning that producers’ spare capacity is running low and said there wouldn’t be any left once China ends its Covid Zero strategy.
From Saudi Arabia to West Texas, drillers are pumping more oil to cash in on a scorching price rally. But a region that’s home to a fifth of the world’s crude reserves is mostly missing out.
OPEC+ will consider cutting oil output by more than 1 million barrels a day, according to delegates, when it meets in person on Wednesday for the first time in more than two years.
Skyrocketing oil prices have helped make oil and gas producers the best performers in the stock market this year, triggering a rapid rise in dividend payments and a bonanza of special dividends.