Chevron expands E&P acreage in West Africa, foresees drilling revival

November 27, 2024/in /by Rudolf Huber

Drill baby, drill. West Africa is probably one of the most prolific regions on Earth for new oil and gas acreage and especially Europe will need the stuff resulting from the drilling. But if Trump just makes part of what he promised true, if the Republicans can keep it going until after 2028, then North America is poised for an oil and gas boom that we have never seen. Just imagine there is not only drilling but the massive volumes of Natural Gas transforming the US transport market. That would reduce oil use and hence liberate a lot of liquids for export. Asia is for the doldrums in large part – so is Europe but I expect it not to be quite as bad. Europe is the market.

Chevron Corp. has expanded its exploration acreage in African oil producers including Nigeria and Angola, where it sees the potential for a production revival despite years of decline.

worldoil.com

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