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Mazrouei sees oil market rebalanced by start of 2022 The UAE’s energy minister on Jan. 13 warned US shale producers to show restraint in the face of rising oil prices, or else risk delaying the market’s rebalancing, which he predicted could otherwise be achieved by the start of 2022. “All producers need to be careful not to flood the market; if anyone does that then the prices will suffer,” Suhail al-Mazrouei told the Gulf Intelligence Global UAE Energy Forum. “I think [shale oil producers] are wise not to jump the gun and overproduce during the recovery year.” The OPEC+ alliance ...

The Nigerian National Petroleum Corporation (NNPC) says it is currently diversifying its portfolio beyond oil assets due to the impact of global energy transition.

Mele Kyari, the NNPC group managing director, says the company is currently diversifying its portfolio beyond oil assets

WITH Nigeria's oil production restricted to 1.74 million barrels per day by the Organization of the Petroleum Exporting Countries, OPEC, the Nigerian National Petroleum Corporation (NNPC) says it will focus on increasing gas and condensate productions to boost revenue for the country.

Airline travel will continue to suffer in the first half this year and will only recover, and jet fuel consumption with it, in the back half of 2021 according to oil trading giant Vitol