Oil & Gas
ARAB AND INTERNATIONAL LIQUEFIED GAS MARKETS DEVELOPMENTS IN THE THIRD QUARTER 2024.
The Energy Research Unit's latest report for 2024 highlights a 3.6% decline in Arab liquefied gas exports, with drops from Algeria and Oman, while the UAE and Qatar saw increases. The U.S. remains the largest global exporter, and Egypt has re-emerged as a net importer for the first time since 2018.
- 5 days, 17 hours
QATAR ENERGY MEGA GAS PROJECT RECEIVES 3-YEAR EXTENSION.
Qatar Energy and ExxonMobil have received a three-year extension for their Golden Pass LNG project in Texas, following delays caused by the bankruptcy of the main contractor, Zachry Holdings. The extension allows for new contractors to take over and aims to ensure the project, expected to produce over 18 million tons of LNG annually, moves forward toward completion.
- 5 days, 17 hours
OIL DISCOVERY IN AFRICA WITH 23 MILLION BARRELS RESERVES MAKES PROGRESS.
An oil discovery in Gabon is progressing towards a production target of 40,000 barrels per day, with Norwegian company BW Energy successfully drilling new wells and repairing existing ones in the Dusavo oil field. Recent discoveries have raised resource estimates significantly, positioning the region for increased output and establishing Gabon as a key player in the oil sector.
- 1 week
TANZANIA: CONSTRUCTION OF THE EACOP PROJECT REACHES 45.5%.
The East African Crude Oil Pipeline (EACOP) project has reached 45.5% completion, with ongoing construction activities from Hoima, Uganda, to Tanga, Tanzania. Significant progress includes the creation of thousands of jobs and substantial local investments, with construction expected to be completed by mid-2026.
- 1 week
THE LARGEST EXPORTER OF LIQUEFIED GAS IN AFRICA, NIGERIA, CONTINUES TO OUTPERFORM ALGERIA.
The report on the largest exporters of liquefied gas in Africa during the third quarter of 2024 highlights an increase in exports from most African countries, with the exceptions of Algeria and Equatorial Guinea.
- 1 week, 1 day
TOP 10 IMPORTERS OF LIQUEFIED GAS GLOBALLY.
In the third quarter of 2024, the top 10 global importers of liquefied gas remained unchanged in the top five compared to the first half of the year, with China maintaining its lead.
- 1 week, 4 days
BELGIAN COMPANY TO DEVELOP $26 BILLION GREEN HYDROGEN PROJECT IN EGYPT.
A Belgian company plans to invest over $26 billion in developing a green hydrogen project in Egypt, reinforcing Cairo's ambition to become a major export hub for green fuels.
- 1 week, 5 days
OIL, GAS COMPANIES SET TO SPEND MORE IN 2025.
According to Wood Mackenzie, investments in oil and gas among the world's 23 largest producers are expected to surge by over 60% by next year.
- 1 week, 6 days
SAUDI ARABIA TO HOST 27TH EDITION OF WORLD ENERGY CONGRESS.
Saudi Arabia is set to host the 27th World Energy Congress from October 26 to 29, 2026, as announced by the World Energy Council.
- 2 weeks
UGANDA PRAISES EACOP PROGRESS IN TANZANIA.
Uganda’s Ambassador to Tanzania, Fred Mwesigye, praised the East African Crude Oil Pipeline (EACOP) project for its potential to enhance economic growth and job creation in both countries. He dismissed environmental concerns as propaganda, emphasizing the project's importance while highlighting its compliance with international standards.
- 2 weeks, 1 day
TANZANIA ANNOUNCES OIL, GAS LICENSING ROUNDS.
Tanzania has announced new oil and gas licensing rounds, promoting 24 exploration blocks set to open on March 5, 2025, during the East African Oil and Gas Conference. Additionally, Zanzibar will offer eight blocks for exploration, reflecting the country's efforts to harness its significant natural gas reserves and attract foreign investment in the energy sector.
- 2 weeks, 1 day
TANZANIA: NORWAY'S EQUINOR REMAINS COMMITTED TO TANZANIA LNG PROJECT.
Equinor is committed to a $42 billion liquefied natural gas project in Tanzania, despite delays caused by proposed changes to a financial agreement by the government. Senior executive Nina Koch emphasized the company's focus on reaching commercial agreements while maintaining open dialogue with Tanzanian officials.
- 2 weeks, 4 days
TANZANIA: TOTALENERGIES SERVICE STATIONS TO SERVE AS DHL SERVICE POINTS.
DHL Express has partnered with TotalEnergies in Tanzania to provide convenient access to global shipping services at TotalEnergies service stations. Customers can utilize DHL’s Express Easy product, allowing them to send documents and parcels at a fixed price, streamlining the shipping process.
- 2 weeks, 4 days
TANZANIA: REA LAUNCHES LOAN INITIATIVE TO BOOST RURAL FUEL ACCESSIBILITY .
The Rural Energy Agency (REA) of Tanzania has introduced a loan initiative to support the construction of small-scale fuel stations in rural areas, aimed at improving energy accessibility. This program invites eligible applicants to apply for funding, promoting local economic growth and enhancing the availability of essential energy products.
- 2 weeks, 6 days
OMAN SIGNS NEW LNG DEAL WITH JAPAN.
On October 9, 2024, Oman signed a liquefied natural gas deal with Japan's Kansai Electric Power, marking its fifth agreement this year. This move strengthens Oman's position in global energy markets as it aims to boost production and secure long-term contracts.
- 3 weeks
TANZANIA: DC HALIMA BULEMBO COMMENDS FACILITATING ENERGY SERVICE ACCESSIBILITY FOR CITIZENS IN KIGAMBONI.
Puma Energy Tanzania has launched a new fuel station in Dege Mtaa, Kigamboni, enhancing local access to energy services and products, including a supermarket and cooking gas refills. District Commissioner Halima Bulembo praised the company for its commitment to improving community access to energy and supporting economic development through partnerships with the government.
- 3 weeks
TANZANIA:DEPUTY MINISTER KAPINGA HIGHLIGHTS INVESTMENT OPPORTUNITIES AT AFRICA OIL WEEK.
Deputy Minister of Energy, Hon. Judith Kapinga, participated in the Africa Oil Week conference in Cape Town, South Africa, focusing on investment opportunities in oil, natural gas, and alternative energy. The event, which also featured key officials from the energy sector, aims to promote collaboration and growth in Africa's energy landscape.
- 3 weeks, 1 day
SAUDI ARABIA RAISES OIL PRICES TO ASIA.
Saudi Arabia has raised the price of its Arab Light crude for Asia by $0.90 per barrel amid market volatility, while simultaneously cutting prices for the U.S. and Europe to regain market share. This pricing shift reflects expectations of stronger demand in Asia and comes in the context of rising oil prices due to geopolitical tensions in the Middle East.
- 3 weeks, 1 day
SUDAN'S OIL AND GAS SECTOR TEMPTS TURKISH INVESTMENTS.
Turkey plans to invest in Sudan's oil, gas, and electricity sectors to address the country's ongoing energy crisis exacerbated by civil conflict. Sudanese officials are actively promoting investment opportunities, particularly in renewable energy projects, signaling a commitment to enhancing energy security and infrastructure.
- 3 weeks, 2 days
TANZANIA: A NEW COMPANY TO INTRODUCE MOBILE FUEL STATIONS.
Deputy Prime Minister Dr. Doto Biteko has urged EWURA to expedite permits for Sky Ruby to establish advanced fuel stations across Tanzania. Sky Ruby aims to enhance fuel access in remote areas with mobile stations offering various fuel types and plans for nationwide expansion.
- 3 weeks, 2 days
TANZANIA: TPDC TACKLES CNG REFUELING CHALLENGES WITH INFRASTRUCTURE EXPANSION IN TANZANIA.
The Tanzania Petroleum Development Corporation (TPDC) is addressing challenges related to the availability of compressed natural gas (CNG) refueling services due to increasing vehicle adoption. TPDC plans to expand infrastructure by constructing new refueling stations, including one at the University of Dar es Salaam, and collaborating with the private sector to establish 13 additional stations by July 2025.
- 3 weeks, 4 days
TOTALENERGIES PLANS TO GROW OIL AND GAS PRODUCTION UNTIL 2030.
TotalEnergies plans to increase its oil and gas production until 2030, projecting a growth rate of around three percent annually, primarily driven by liquefied natural gas. The company is also investing significantly in renewable energy while preparing for potential market adjustments following record profits in recent years.
- 3 weeks, 6 days
TANZANIA: PURA AND M&P DISCUSS UPCOMING NATURAL GAS DRILLING PROJECT AT MNAZI BAY.
The article discusses a recent meeting between the Petroleum Upstream Regulatory Authority (PURA) and Maurel et Prom Exploration Production Tanzania Ltd (M&P) regarding the drilling of three natural gas wells in the Mnazi Bay Block. Key topics included project budgeting, local content compliance, and the project's potential impact on natural gas production in Tanzania.
- 3 weeks, 6 days
OIL PRICES SURGE AFTER IRAN FIRES 100+ MISSILES AT ISRAEL.
Iran has launched over 100 ballistic missiles into Israel, following a U.S. warning of an imminent attack, with no immediate reports of casualties. The global focus is on Israel's potential retaliation, which could target Iran's oil industry and push oil prices even higher.
- 4 weeks
RUMORS OF NEW SAUDI OIL PRICE TARGET ARE WARNING TO OPEC CUT VIOLATORS.
Saudi Arabia is accelerating the process of ending its oil production cuts, causing fluctuations in oil prices. This move signals potential lower prices ahead, as the kingdom seeks compliance from other OPEC+ members on production limits.
- 4 weeks, 1 day
OPEC'S STRATEGIES AS OIL PRICES SET TO FALL AMID MIDDLE EAST CONFLICT.
Oil prices are set to decline for the third consecutive month due to a strong supply outlook and concerns over demand, despite rising tensions from Middle East conflicts. OPEC is responding strategically by planning to gradually increase production while estimating a rise in global oil demand in 2024.
- 1 month
TANZANIA: PURA AND ZPRA FORGE A PATH FOR SUSTAINABLE PETROLEUM DEVELOPMENT.
The Petroleum Upstream Regulatory Authority (PURA) of Tanzania Mainland and the Zanzibar Petroleum Regulatory Authority (ZPRA) are enhancing their collaboration through initiatives outlined in their 2022 Memorandum of Understanding, as demonstrated in a recent meeting to review their 2023/24 implementation report. Key achievements include refining production-sharing agreements, developing CSR guidelines, launching Zanzibar's first licensing round, and promoting open blocks to attract investment.
- 1 month
OPEC AND IEA'S STARKLY DIFFERENT OUTLOOKS ON GLOBAL OIL DEMAND.
OPEC and the IEA have sharply contrasting forecasts for global oil demand, with OPEC predicting over 2 million barrels per day of growth this year, while the IEA estimates it will be under 1 million. This divergence highlights fundamental disagreements on the future of oil consumption, particularly regarding the role of China in the global energy landscape.
- 1 month
TOTALENERGIES ENHANCES GAS INTEGRATION WITH EAGLE FORD BASIN ASSETS IN TEXAS.
TotalEnergies has acquired a 45% interest in dry gas assets from Lewis Energy Group in the Eagle Ford basin, enhancing its natural gas production and integration across the U.S. gas value chain. This acquisition follows their earlier purchase of the Dorado asset and positions TotalEnergies as the largest exporter of U.S. LNG, with plans to increase its export capacity significantly by 2030.
- 1 month
BP EXPLORES MORE OPPORTUNITIES IN INDIA.
BP has reaffirmed its commitment to India’s energy sector during a recent board meeting in New Delhi, highlighting the importance of collaboration with local partners like Reliance Industries. The company aims to leverage opportunities in oil, gas, and clean energy to support India’s growing energy needs and ambitions for energy independence by 2047.
- 1 month
OPEC'S 2024 VISION: OIL DEMAND SET TO SURGE DESPITE RENEWABLE GROWTH.
OPEC's 2024 World Oil Outlook projects that global oil demand will continue to grow, potentially exceeding 120 million barrels per day by 2050, largely driven by non-OECD countries like India and Africa. Despite the rise of renewable energy, OPEC emphasizes that oil will remain a critical component of the global energy mix, requiring substantial investments to sustain supply.
- 1 month
NIGERIA: DANGOTE'S 'MONSTER' REFINERY FUELS FIGHT OVER GASOLINE SUBSIDIES.
The start of gasoline production at Aliko Dangote’s oil refinery in Nigeria is pushing the government closer to removing costly fuel subsidies that have long burdened the economy, despite fears of public backlash. Both Dangote and the government are engaged in negotiations over pricing and supply, as the country seeks to stabilize its fuel market amidst ongoing economic challenges.
- 1 month
EQUINOR DISCOVERS OIL AND GAS IN THE NORTH SEA: SECOND FIND IN A WEEK.
Equinor has announced a significant oil and gas discovery in the northern North Sea, with estimated resources of about 56 million barrels, although current market conditions render it "unprofitable." This follows another recent find of 16 million barrels, highlighting ongoing exploration successes in the region despite economic challenges.
- 1 month
TURKEY AND TOTAL ENERGY: LNG PARTNERSHIP BOOSTS ENERGY SECURITY.
Turkey's long-term LNG agreement with TotalEnergies aims to enhance energy security by diversifying its energy sources and reducing dependence on conventional gas imports. This partnership not only strengthens Turkey's position as a regional gas hub but also provides European countries with alternative gas supplies, bolstering their energy resilience amid geopolitical uncertainties.
- 1 month
TOTALENERGIES AND AIR FRANCE-KLM: A LANDMARK AGREEMENT FOR SUSTAINABLE AVIATION FUEL.
TotalEnergies signed a 10-year agreement to supply Air France-KLM with 1.5 million tons of sustainable aviation fuel (SAF) through 2035. The agreement expands a previous deal and strengthens both companies' efforts to reduce aviation's carbon footprint.
- 1 month, 1 week
SHELL TO SHUT PRODUCTION AT TWO OIL FACILITIES IN GULF OF MEXICO.
Shell is temporarily shutting down production at its Stones and Appomattox facilities in the Gulf of Mexico and evacuating non-essential personnel due to a tropical disturbance that has a 50% chance of becoming a cyclone. The U.S. National Hurricane Center has warned that conditions are favorable for the disturbance to develop into a tropical depression or storm in the coming days.
- 1 month, 1 week
NIGERIA BEGINS TALK WITH LIBYA FOR CONSTRUCTION OF REGIONAL GAS PIPELINE PROJECT.
Nigeria has begun discussions with Libya to construct a gas pipeline aimed at enhancing energy cooperation between the two nations. The proposed pipeline would transport gas from Nigeria to Libya and is part of Nigeria's strategic shift from oil to gas, leveraging its vast gas reserves.
- 1 month, 1 week
UAE MURBAN CRUDE SECURES THE NEEDS OF AN OIL REFINERY IN VIETNAM.
The demand for UAE Murban crude is rising in Asian markets due to its distinct chemical characteristics being light, low in sulfur, and having a carbon density less than half the global average.
- 1 month, 1 week
US LIQUEFIED NATURAL GAS COMPANY REGASIFIES ONE MILLION TONS IN GREECE FOR 5 YEARS.
A U.S. liquefied natural gas (LNG) company, Venture Global LNG, has entered into a regasification agreement with Greece's Gas trade SA to address the shortage of Russian gas supplies caused by the Ukrainian war in February 2022.
- 1 month, 1 week
SCANIA TANZANIA TO SUPPLY GAS-POWERED BUSES FOR BRT PROJECT.
Tanzania will enhance its Bus Rapid Transit (BRT) project with a new fleet of gas-powered buses from Scania Marcopolo, aimed at transforming public transport in Dar es Salaam. Funded by the World Bank, the ongoing BRT infrastructure development promises to provide residents with a faster, safer, and more reliable transportation system.
- 1 month, 1 week
SUDAN'S OIL AND GAS ATTRACT RUSSIAN INVESTMENT.
Sudan is actively seeking to enhance its oil and gas production amid an energy deficit caused by the ongoing civil war, with Minister Dr. Muhyiddin Naim emphasizing collaboration with Russia for investments and expertise in these sectors. Additionally, the country is exploring solar energy projects in partnership with Turkish companies to address its growing electricity demands and expand renewable energy initiatives.
- 1 month, 1 week
SOUTH SUDAN COULD SOON RESUME EXPORTING CRUDE OIL VIA SUDAN.
South Sudan and Sudan are in talks to resume crude oil exports through Sudanese ports after a months-long shutdown caused by a ruptured pipeline amidst ongoing conflict. South Sudan’s engineers are set to assess the infrastructure’s readiness, as the country struggles financially due to its heavy reliance on oil revenues.
- 1 month, 1 week
WHY NO MAJOR OIL COMPANY IS RUSHING TO DRILL PAKISTAN'S HUGE OIL RESERVES.
Pakistan has uncovered potentially massive oil and gas reserves, but experts warn that significant investment and years of work are needed for exploitation, with security concerns deterring international oil companies. As a result, China is emerging as the most likely partner for development, while Pakistan continues to grapple with an energy crisis exacerbated by fuel smuggling from Iran.
- 1 month, 1 week
EQUINOR MAKES NEW GAS DISCOVERY IN NORWEGIAN NORTH SEA.
Equinor ASA and its partners have discovered new natural gas reserves in the Gudrun field of Norway’s North Sea through two wildcat wells, with preliminary estimates indicating recoverable oil equivalent between 0.1 and 1.3 million standard cubic meters. The Gudrun field, already in production since 2014, continues to show substantial reserves, prompting further evaluation of its prospectivity.
- 1 month, 1 week
INDIA WILL CONTINUE TO BUY CHEAP RUSSIAN CRUDE OIL.
India will continue to prioritize buying oil and gas at the lowest prices, focusing on discounted Russian crude, which has become its largest supply source. The country is also exploring long-term supply agreements with Russia to ensure stable oil supplies as it expands its refining capacity.
- 1 month, 1 week
LONG-TERM LIQUEFIED GAS DEAL REVIVES TURKEY.
Turkey's national energy company, Botaş, has signed a long-term LNG agreement with Total Energy, set to begin in 2027 and supply 1.6 billion cubic meters annually. This deal, part of Turkey's strategy to enhance energy security and diversify sources, positions the country as a potential gas hub for exports to Europe, despite a recent decline in LNG imports from Egypt.
- 1 month, 1 week
LNG INDUSTRY FACES UNCERTAIN FUTURE.
The LNG industry is encountering several challenges that may affect its future growth, including regulatory obstacles, supply chain disruptions, and price sensitivity. A key driver of the industry’s expansion, Asian demand for LNG, is showing signs of cooling as storage capacity approaches its limit.
- 1 month, 1 week
SHELL FACES LAWSUIT IN NIGERIA.
Shell is facing a lawsuit in Nigeria, with communities from the Niger Delta demanding hundreds of millions of dollars in compensation for environmental damage caused by the company’s operations.
- 1 month, 2 weeks
OIL PRICES POISED FOR WEEKLY GAIN.
Crude oil prices continued their upward trend today, building on Thursday's gains, and are on track to break a three-week losing streak if the momentum holds.
- 1 month, 2 weeks
OPEC PRODUCTION POLICIES COULD COMPLICATE RELATIONSHIP WITH BIG OIL.
Earlier this month, OPEC and its partners from Central Asia and Russia postponed the planned rollback of production cuts originally agreed upon in 2023 to counter falling oil prices.
- 1 month, 2 weeks
INDIAN COMPANY ACQUIRES OIL AND GAS PRODUCTION RIGHTS IN RUWAIS, UAE.
An Indian company, Orga Bharat BTE Limited - Abu Dhabi, has been granted oil and gas production concessions in Ruwais, UAE, highlighting the strengthening cooperation between the two nations.
- 1 month, 2 weeks
QATAR ENERGY LAUNCHES FIRST LNG CARRIER IN NEW CARGO FLEET.
Qatar Energy has taken delivery of its inaugural liquefied natural gas (LNG) carrier from China.
- 1 month, 2 weeks
TURKEY SIGNS MASSIVE 10-YEAR LNG DEAL.
Turkey has signed a 10-year liquefied natural gas (LNG) import agreement, extending until 2037, as announced by Energy Minister Alp Arslan Bayraktar on Monday, September 2, 2024.
- 1 month, 4 weeks
ENERGY DEAL FOR THE FIRST TIME IN ALGERIA'S HISTORY.
Algeria has made history by unveiling a significant energy deal aimed at diversifying its economic growth beyond oil and gas exports.
- 1 month, 4 weeks
NIGERIAN GAS METHANOL PLANT SECURES FUNDING.
Nigeria is advancing its methanol production sector as part of its commitment to achieving carbon neutrality by 2060.
- 2 months
TURKISH REFINERY SHUTDOWN THREATENS RUSSIAN OIL.
Azerbaijan's state oil and gas company, SOCAR, has announced a temporary halt in operations at its Turkish refinery, which has a production capacity exceeding 200,000 barrels per day.
- 2 months
ALGERIAN FUEL SHIPMENT ARRIVES IN LEBANON.
After a six-day journey, the Algerian fuel shipment aboard the tanker "Ain Aker" arrived in Lebanon at the port of Tripoli on August 27, 2024.
- 2 months
NEW ZEALAND: IMPORTS LIQUEFIED GAS FOR THE FIRST TIME IN ITS HISTORY.
A Pacific island nation is preparing to import liquefied natural gas (LNG) for the first time, addressing its lack of a receiving station for fuel, which is currently in high global demand.
- 2 months
JORDAN BUILD A REGASIFICATION UNIT.
Jordan is taking a significant step toward securing a stable and permanent energy supply by building a regasification unit, which converts liquefied gas back into its natural form.
- 2 months, 1 week
TURKEY MAKES RAPID INROADS INTO AFRICA’S OIL AND GOLD SECTORS.
Turkey is actively expanding its presence in Africa and enhancing its energy security.
- 2 months, 1 week
NIGER AIMS TO BECOME MAJOR OIL EXPORTER.
Niger has resumed oil exports after resolving a border dispute with Benin that had halted crude shipments since June.
- 2 months, 1 week
UAE'S ADNOC EXPANDS INVESTMENTS IN AFRICA TO BOOST ENERGY SECURITY.
ADNOC's recent expansion in Africa highlights the company's and the UAE's strategic commitment to advancing the energy sector and ensuring a consistent flow of resources to meet global demand.
- 2 months, 2 weeks
UAE SIGNS NEW LNG EXPORT DEAL FROM RUWAIS PROJECT.
The UAE has secured a new long-term deal to export liquefied natural gas (LNG) from the environmentally friendly Ruwais project, reinforcing Abu Dhabi's role in global energy markets.
- 2 months, 3 weeks
SOUTH AFRICA: DRILLING 5 AFRICAN GAS WELLS WITH RESERVES OF 6 TRILLION CUBIC FEET.
Preparatory work has begun for a plan to drill five gas wells in South Africa, targeting reserves estimated at 6 trillion cubic feet.
- 2 months, 3 weeks
OAPEC MONTHLY BULLETIN REVIEWS DEVELOPMENTS IN ARABIC AND GLOBAL ENERGY MARKETS.
The latest issue of the OAPEC monthly bulletin, released by the Organization of Arab Petroleum Exporting Countries, reviews recent global oil market developments and their impact on Arab nations.
- 2 months, 4 weeks
PRODUCTION DATE OF THE FIRST LNG SHIPMENT FROM THE MAURITANIAN-SENEGALESE PROJECT.
BP CEO Murray Ochinclus has announced that the Tortu Ahmeim Grand Project, located off the coasts of Mauritania and Senegal, is set to commence production.
- 3 months
MAERSK ABANDONS METHANOL IN FAVOR OF LIQUEFIED GAS IN SHIP SUPPLY.
Denmark's Maersk is set to expand its fleet of LNG vessels, a notable shift from its long-standing use of methanol as a fuel.
- 3 months
PAKISTAN: NATURAL GAS DISCOVERY PROMISES 20 MILLION CUBIC FEET PER DAY PRODUCTION.
The Oil & Gas Development Company Limited (OGDCL) announced a significant gas discovery in Pakistan on Monday, July 29, 2024.
- 3 months
USA: OILFIELD SERVICE FIRMS STRUGGLE AMID MEGA-MERGERS IN OIL SECTOR.
The recent surge in megadeals within the U.S. oil and gas sector, which began last year and has extended into this year, has significantly impacted oilfield services.
- 3 months
THE MOROCCAN-NIGERIAN GAS PIPELINE UNDERGOES SIGNIFICANT DEVELOPMENT.
The Moroccan-Nigerian gas pipeline is making substantial progress, following fruitful high-level meetings between the host countries.
- 3 months
TURKEY TO SECURE LNG SHIPMENTS UNTIL 2037.
Turkey plans to expand long-term liquefied natural gas (Lng) purchase agreements to meet domestic energy demand as existing import contracts with Russia near their expiration.
- 3 months
IRAQ OPENS AN OIL STORAGE DEPOT WITH HUGE CAPACITIES.
Iraq has initiated a significant project to expand its oil storage capacity, aimed at bolstering the country’s crude oil exports and improving the efficiency of transporting oil from fields to export terminals.
- 3 months
OPEC RECEIVES PLANS OF 3 COUNTRIES TO COMPENSATE FOR SURPLUS OIL PRODUCTION.
The OPEC Secretariat has received compensation plans from Russia, Iraq, and Kazakhstan aimed at addressing surplus oil production.
- 3 months, 1 week
THE 10 COUNTRIES WITH THE MOST GAS RESERVES IN THE WORLD.
The top 10 countries by global gas reserves indicate that three nations, including Saudi Arabia, saw increases in their reserves over the past year, while Venezuela's reserves declined.
- 3 months, 1 week
FIRST FLOATING GREEN HYDROGEN EXPORT TERMINAL WINS HUGE FUNDING.
The first floating terminal for exporting green hydrogen has secured a strategic partner to provide seed funding for its development, according to the Washington-based Specialized Energy Platform.
- 3 months, 2 weeks
WAFRA JOINT FIELD BETWEEN SAUDI ARABIA AND KUWAIT WITNESSES NEW DEVELOPMENT.
The Wafra field, shared by Saudi Arabia and Kuwait, has recently experienced significant developments. Both countries are working diligently to increase the field's production to 300,000 barrels per day by 2027.
- 3 months, 2 weeks
SAUDI ARAMCO AWARDS CONTRACTS FOR TWO OFFSHORE PROJECTS WORTH $500 MILLION.
Saudi Aramco has awarded Italy's Saipem contracts worth USD 500 million to develop two offshore projects in the kingdom, according to a statement obtained by a Washington-based energy platform.
- 3 months, 2 weeks
BRAZIL: LAUNCH OF THE WORLD'S LARGEST FLOATING PRODUCTION, STORAGE AND OFFLOADING VESSEL.
The world's largest FPSO vessel is vital for Petrobras' deep-water oil plans. These vessels process, store, and transport energy resources.
- 3 months, 2 weeks
MALAYSIA: THE DISCOVERY OF A HUGE GAS BEGINS PRODUCTION.
Production work began with the discovery of a significant gas reserve, 9 years after its announcement and 3 years after the final investment decision to develop it, according to information from the Washington-based Specialized Energy Platform.
- 3 months, 2 weeks
NATURAL HYDROGEN EXPLORATION IN AMERICA EXPANDS WITH NEW STATEMENT.
An Australian company has been granted permission to explore for natural hydrogen in the United States, capitalizing on the recent rush to develop this carbon-free resource, which would contribute to global energy transition goals.
- 3 months, 2 weeks
RUSSIA AND IRAN SIGN DEAL TO DOMINATE GLOBAL GAS MARKET.
Last week, Gazprom signed a gas deal with the Iranian National Gas Company (NIGC). This memorandum of understanding (MoU) is a significant step towards increased control over gas supplied through both pipelines and liquefied natural gas (LNG) to global markets.
- 3 months, 3 weeks
UAE MURBAN CRUDE TRADES RECORD 1.5 BILLION BARRELS OF OIL IN 3 MONTHS.
UAE's Murban crude continued to show strong trading activity in futures on the Intercontinental Exchange during the second quarter of 2024, according to recent data obtained by the Washington-based specialized energy platform.
- 3 months, 3 weeks
EUROPE'S BIOFUEL INDUSTRY TAKES TWO HITS FROM SHELL.
Europe's biofuel industry has been hit hard by Shell's decide to temporarily to halt its sustainable aviation fuel project in Sweden, which was launched in 2021 in partnership with Vattenfall.
- 3 months, 3 weeks
TOP 5 LIQUEFIED NATURAL GAS (LNG) DEALS IN JUNE 2024.
June 2024 witnessed significant activity in the liquefied natural gas (LNG) sector, with Saudi Aramco leading the charge by securing major long-term export agreements. LNG, known for being a reliable energy source that aligns with global climate goals for carbon neutrality, is becoming an essential transition fuel.
- 3 months, 3 weeks
ISRAEL TO DOUBLE NATURAL GAS EXPORTS, BOOST LEVIATHAN FIELD PRODUCTION.
Israel's government has approved plans to significantly increase the country's natural gas exports and boost production at the Leviathan Gas Field.
- 3 months, 3 weeks
OAPEC REVIEWS THE EFFECTS OF DECARBONIZATION OF THE OIL AND GAS INDUSTRY IN ARABIC COUNTRIES.
The latest issue of the "Oil and Arab Cooperation" magazine, published by the Organization of Arab Petroleum Exporting Countries (OAPEC), examines the impacts of decarbonization and the circular carbon economy in the oil and gas sectors of Arab countries.
- 3 months, 3 weeks
ANGOLA: ONESUBSEA SECURES MAJOR CONTRACT OFFSHORE PROJECT WITH TOTALENERGIES.
OneSubsea has secured a new contract with TotalEnergies for the Kaminho project, an offshore venture in Angola.
- 3 months, 3 weeks
OIL DISCOVERY IN AFRICA WITH 10 BILLION BARRELS RESERVES ATTRACTS 12 COMPANIES.
An oil discovery in Africa, boasting reserves exceeding 10 billion barrels, has captured the attention of about 12 international companies.
- 3 months, 4 weeks
MIDDLE EAST: DEAL TO BUILD 8 OIL AND GAS TANKERS WORTH $1.5 BILLION.
The Middle East's cargo fleet is set to expand with eight new oil and gas tankers being built by a Korean company, aiming to meet customers' fuel demand.
- 4 months
GULF OIL COMPANIES EXPAND LNG INVESTMENTS LED BY ADNOC AND ARAMCO.
ADNOC and Aramco want to hedge against global energy volatility
- 4 months
GERMANY: EXPLOSION CLOSES HYDROGEN REFUELING STATION A WEEK AFTER IT OPENED.
Authorities in Germany have decided to close a hydrogen refueling station after a fire broke out following an explosion.
- 4 months
WEST AFRICA: CHEVRON SIGNS KEY AGREEMENT ON EQUATORIAL GUINEA AFTER EXXONMOBIL EXIT.
Chevron, a US-based company, is expanding its oil and gas operations in Equatorial Guinea.
- 4 months, 1 week
STANDARD BANK'S $5 BILLION INVESTMENT REVIVES EACOP DESPITE PERSISTENT OPPOSITION.
EACOP aims to connect Ugandan oilfields to Tanzania's port for export. The project has faced delays due to environmental concerns and funding issues. However, Standard Bank's $5 billion investment has revived the project, though opposition remains strong.
- 4 months, 1 week
IRANIAN OIL IS HEADING TO 15 COUNTRIES DESPITE SANCTIONS.
Despite ongoing Western sanctions, Iran's oil exports continue to reach around 15 countries worldwide, and the country is attracting significant investment in its oil sector.
- 4 months, 1 week
THE 10 LARGEST SOUR GAS FIELDS IN THE WORLD.
Sour gas, characterized by its high content of hydrogen sulfide (H2S), is anticipated to see a substantial production increase exceeding 50% over the next decade. This surge is pivotal as sour gas is expected to support a robust $10 billion global sulfur market annually.
- 4 months, 1 week
SAUDI ARABIA: SAUDI ENERGY MINISTER MANAGES HISTORIC HAJJ POWER DEMAND.
When the name of the Saudi Energy Minister, Prince Abdulaziz bin Salman, is mentioned, people associate the name with oil and OPEC/OPEC+. Here is part of his job that most people do not know about
- 4 months, 1 week
SHELL CONCLUDES MASSIVE ACQUISITION IN LNG MARKET.
Global multinational company Shell has made a significant move to bolster its position in the liquefied natural gas (LNG) market, aligning with its strategy to expand LNG production and sales.
- 4 months, 2 weeks
IRAQ AIMS TO DEVELOP 7 NEW REFINERIES WITH A CAPACITY OF 500,000 BARRELS PER DAY.
Iraq is embarking on a strategic initiative cooperation with the American company Honeywell, aiming to construct 7 new oil refineries with capacities reaching 500,000 barrels per day.
- 4 months, 2 weeks
ALGERIA PARTNERS WITH CHEVRON, RESOLVES DISPUTE FOR ENERGY SECTOR GROWTH.
Algeria is venturing into new territory in energy industry growth by forging alliances with prominent international developers to tap into its vast potential in the oil and gas sectors. in a recent development, Algerian energy giant Sonatrach and its us counterpart chevron have signed a memorandum of understanding to explore opportunities for developing hydrocarbon resources in areas of mutual interest within the Ahnat and Berkine basins.
- 4 months, 2 weeks
GLOBAL OIL FLOWS THROUGH CAPE OF GOOD HOPE RISE 50%.
Oil flows through the Cape of Good Hope route, situated at the southernmost point of Africa, have surged by approximately 50% in the initial five months of 2024 compared to the average of 2023, attributing this increase to shifts in global shipping patterns.
- 4 months, 2 weeks
AFRICA'S LARGEST GAS RESERVES TAKE NEW STEP TOWARDS EXPORT.
Africa's largest gas reserves are banking on a new liquefied natural gas (LNG) project to tap into vast resources and achieve economic prosperity.
- 4 months, 2 weeks
NEW ZEALAND TO ALLOW OIL AND GAS EXPLORATION BY SEA.
almost six years after imposing a ban on offshore oil and gas exploration, New Zealand plans to revisit these crucial energy sources and revenue streams, despite pressure from environmentalists.
- 4 months, 3 weeks
CHINA'S LARGEST GAS FIELD ATTRACTS ALGERIA'S ATTENTION.
Algeria is strategically positioning itself to capitalize on the operational insights gleaned from China's primary gas field, managed by the prominent Chinese oil and gas corporation, Sinopec, situated in the Chongqing region.
- 4 months, 3 weeks
IRAQ OFFICIALLY INAUGURATES ASSOCIATED GAS TREATMENT PROJECT IN HALFAYA FIELD.
Iraq has officially commenced operations at the associated gas treatment project within the Halfaya field, located in Maysan province, after years of development efforts.
- 4 months, 3 weeks
HUGE GAS DISCOVERY PRODUCING MORE THAN 10 MILLION CUBIC METERS PER DAY.
China National Offshore Oil Corporation (CNOOC) has reported a significant gas discovery in the South China Sea, as revealed in a press release obtained by the Washington-based Specialized Energy Platform.
- 4 months, 3 weeks
THIRD LARGEST OIL FIELD IN THE NORTH SEA FACES UNCERTAIN FUTURE.
The future of the third-largest oil field in the North Sea has been cast into uncertainty following an announcement by operators of a year-long production delay attributed to local elections in the United Kingdom.
- 4 months, 3 weeks
RUSSIA AFFIRMS CONTINUED OIL PRODUCTION CUTS UNDER OPEC+ AGREEMENT.
Russian Deputy Prime Minister Alexander Novak affirmed that Russia maintained its reduction in oil production throughout May in line with the OPEC+ agreements, underscoring the ongoing dedication of OPEC+ producers to stabilize the oil market.
- 4 months, 3 weeks
TOTAL ENERGY SIGNS TWO LNG EXPORT DEALS.
France's Total Energy has unveiled new global liquefied natural gas (LNG) deals with two companies, one in India and one in South Korea, enhancing its portfolio and supporting energy transition efforts.
- 4 months, 3 weeks
MOZAMBIQUE'S GAS RESERVES ATTRACT INVESTMENT FROM MAJOR GLOBAL ENERGY COMPANIES.
Mozambique's significant gas reserves have garnered attention from leading global oil and energy companies, setting the stage for the country to emerge as a major player in energy markets as many nations seek new energy sources.
- 4 months, 4 weeks
SAUDI ARAMCO COMPLETES 40% ACQUISITION OF PAKISTAN'S LARGEST FUEL VENDOR.
Saudi Aramco has completed the acquisition of a 40 percent stake in Pakistan's largest fuel retailer, bolstering its presence in the Asian markets.
- 5 months
AFRICA'S LARGEST OIL REFINERY EXPORTS FIRST JET FUEL SHIPMENT TO EUROPE.
Africa's largest oil refinery has marked a significant milestone by exporting its first shipment of jet fuel to Europe, solidifying its position in a market eager for diversification following the Russian-Ukrainian conflict.
- 5 months
ALGERIA: 8 OIL DISCOVERIES AND A DEAL WITH CHEVRON SOON.
Since the beginning of the year, Sonatrach has made eight oil discoveries in Algeria, a move that will boost the country's hydrocarbon reserves, secure its domestic needs, and increase its exports.
- 5 months
LATEST LNG DEAL STRUCK BY AUSTRALIAN COMPANY.
Australia's Santos has announced a long-term liquefied natural gas (LNG) agreement with Japanese utility company Hokkaido Gas. According to the Washington-based Specialized Energy Platform, the deal involves supplying up to 400,000 metric tons of LNG annually for a decade, beginning in 2027.
- 5 months
NET PROFIT OF OIL AND GAS COMPANIES 2023, USD.
The leading company is Saudi Arabia's Aramco, which earned $121 billion in net profit. This is down from $161 billion in 2022.
- 5 months
GERMANY: WORLD'S FIRST ONSHORE LNG PLANT TO BE OPERATIONAL BY 2027.
Germany is betting on the world's first onshore LNG plant to accelerate its carbon neutrality efforts and enhance energy security. This pioneering plant will handle low-carbon energy sources, marking a significant step towards Germany's green transition.
- 5 months
OMAN GAS EXPLORATION AWAITS A NEW START LED BY SHELL.
Shell Oman is accelerating its gas exploration efforts in Oman to enhance productivity and increase its market share in the Gulf country. The company aims to capitalize on the recent boom in Oman's gas sector, which has become a focus for investment following the disappointing stabilization of crude production from new oil fields.
- 5 months, 1 week
ANGOLAN OIL MARKET: 5 TEMPTATIONS THAT PUT IT IN THE PRIORITIES OF INVESTORS.
The Angolan oil market features developed infrastructure and a stable political environment. Angola aims to boost its oil production to over 1.18 million barrels per day, with current production at approximately 1.1 million barrels per day.
- 5 months, 1 week
ADNOC STATIONS: REFUELING SERVICES IN 3 ARAB COUNTRIES.
ADNOC UAE stations are a preferred choice for motorists in three Arab countries, renowned for offering outstanding and innovative customer solutions. As part of its ambitious new five-year strategy, ADNOC Distribution aims to increase the number of its stations in the UAE, Saudi Arabia, and Egypt by 20% over the next five years, according to the Specialized Energy Platform.
- 5 months, 1 week
ALGERIA'S LARGEST GAS FIELD REBOUNDS WITH NEW DEAL.
Algeria's largest gas field, Hassi Ramel, is experiencing significant efforts to maintain its production rates and avoid future declines, as it is one of the world's largest fields, according to the Washington-based Specialized Energy Platform.
- 5 months, 1 week
UAE RAISES $935 MILLION FROM NEW ADNOC DRILLING OFFERING.
Abu Dhabi National Oil Company (ADNOC) successfully raised AED 3.423 billion ($935 million) through the sale of 880 million shares in ADNOC Drilling. The announcement, made on Thursday, May 23, 2024, confirmed the completion of the offering, which represents 5.5% of ADNOC Drilling's total capital shares targeted at institutional investors.
- 5 months, 1 week
AFRICA'S LARGEST OIL REFINERY LOOKING FOR MASSIVE U.S. DEAL.
Africa's largest oil refinery, Dangote, is seeking a new year-long contract to supply it with U.S. West Texas Intermediate (WTI) Midland crude. Despite Nigeria's abundant domestic supplies and declining Bonny Light crude prices, the move is driven by the competitiveness of U.S. crude prices and the refinery's need to diversify its sources.
- 5 months, 1 week
THE FIRST ELECTRIC LOCOMOTIVE IN THE MIDDLE EAST TO BE TESTED BY THE UAE.
The UAE is advancing its adoption of clean technologies across various sectors, including maritime transport, by testing the Middle East's first all-electric locomotive. On May 21, 2024, SAFEEN Group, a subsidiary of Abu Dhabi Ports Group, announced that it had tested this pioneering locomotive, as reported by the Washington-based Specialized Energy Platform.
- 5 months, 1 week
LNG MARKET FACES DISRUPTION AS RED SEA CLOSURE FORCES RISKY DETOURS.
The global LNG market has grown increasingly fragile, with price spikes becoming more likely due to imbalances between supply and demand.
- 5 months, 1 week
NETHERLANDS PLACES MOROCCO AMONG TOP DESTINATIONS FOR HYDROGEN IMPORTS.
European countries are actively seeking agreements and memoranda of understanding to import hydrogen from Morocco as part of their green energy plans. According to data from the Washington-based Specialized Energy Platform, Morocco's Minister of Energy Transition and Sustainable Development, Leila Benali, signed an action plan with Dutch Minister Rob Jetten.
- 5 months, 2 weeks
ASIAN REFINERS DIVERSIFY AWAY FROM MIDDLE EASTERN OIL.
Asian refiners are decreasing their intake of crude oil from the Middle East, opting instead for supplies from the United States and Brazil. This shift is driven by shrinking refining margins and rising Saudi oil prices, even as global benchmarks remain relatively stable.
- 5 months, 2 weeks
SOUTH SUDAN'S OIL IS IN TROUBLE AND CONTROVERSY OVER AN EMIRATI DEAL FOR $13 BILLION.
Oil production in South Sudan dropped to 60,000 barrels per day in April, a decline from 70,000 barrels per day in March and significantly lower than the 150,000 barrels per day recorded in February.
- 5 months, 2 weeks
USA: OIL TICKS HIGHER ON INVENTORY DRAW.
Crude oil prices rebounded slightly following the Energy Information Administration's report of a 2.5-million-barrel inventory decrease for the week ending May 10. This shift contrasts with a minor 1.4 million barrel draw the previous week and an unexpected 3.1-million-barrel decrease reported by the American Petroleum Institute earlier.
- 5 months, 2 weeks
EGYPT SIGNS AGREEMENT WITH NORWEGIAN INSTITUTION TO REDUCE OIL SECTOR EMISSIONS.
The Center of Excellence for Energy Transition, part of Egypt's oil sector, has signed a new Memorandum of Understanding (MoU) with Norway's Carbon Limits to develop strategies for reducing methane emissions in the sector.
- 5 months, 2 weeks
The Panama Canal is Key to American LNG.
Severe Drought Affects LNG Shipments through Panama Canal, U.S. Producers Seek Alternatives Low water levels caused by severe drought led to extended wait times for LNG carriers in March.
- 5 months, 2 weeks
SLB ONESUBSEA, SUBSEA7 SIGN LONG-TERM DEAL WITH EQUINOR.
SLB One Subsea and Subsea7 have announced a long-term strategic collaboration agreement with Equinor and have initiated work on two of its deepwater projects. Under this agreement, the two subsea companies, operating as the Subsea Integration Alliance, will become involved in Equinor projects at an early stage as contractors.
- 5 months, 3 weeks
WEST AFRICA'S OIL AND GAS RESERVES ATTRACT 3 COMPANIES.
West Africa is drawing the attention of three companies aiming to develop untapped oil and gas fields while incorporating carbon capture technologies. Norway's Carbon Circle has joined forces with Amplus VGE, a joint venture between the UK's Amplus Energy and Nigeria-based Versatile Group.
- 5 months, 3 weeks
EUROPEAN OIL GIANTS EYE U.S. STOCK EXCHANGES AMIDST SHIFTING ENERGY LANDSCAPE.
Europe's major oil companies are considering delisting from European stock exchanges and listing on American exchanges. Total Energies' CEO, Patrick Pouyanné, has announced serious consideration of a primary listing in New York. However, Total Energies' unique business composition poses challenges for a move to the U.S.
- 5 months, 3 weeks
LNG Market Faces Supply Shortages Despite Hopes for Improvement by 2025.
Currently, all attention is on the liquefied natural gas (LNG) market, especially following the disruptions in Russian gas supplies and the volatility in the global gas market triggered by the Ukraine war and subsequent sanctions.
- 5 months, 3 weeks
SHELL TO SELL INTEREST IN SINGAPORE ENERGY AND CHEMICALS PARK TO CAPGC.
Today, on the 8th of May 2024, Shell Singapore Pte Ltd, a subsidiary of Shell plc, has agreed to sell its Energy and Chemicals Park in Singapore to CAPGC Pte. Ltd., a joint venture between Chandra Asri Capital Pte. Ltd. and Glencore Asian Holdings Pte. Ltd.
- 5 months, 3 weeks
IRAQ MOVES TO EXPORT DIESEL AFTER ACHIEVING SELF-SUFFICIENCY.
Iraq is currently finalizing its preparations for exporting diesel (gas oil) after achieving self-sufficiency by completing necessary logistical procedures. The Ministry of Oil announced its plans in a statement seen by the Washington-based Specialized Energy Platform on Monday, May 6, 2024.
- 5 months, 3 weeks
USA: BIDEN ADMINISTRATION BANS FOSSIL FUELS IN FEDERAL BUILDINGS.
The Energy Independence and Security Act of 2007 mandates federal buildings to phase out fossil fuel usage by 2030, focusing on transitioning to cleaner electricity sources such as wind and solar power to cut greenhouse gas emissions.
- 5 months, 3 weeks
SHELL IS HEADING OUT OF SOUTH AFRICA AFTER 122 YEARS.
Shell International is preparing to exit its longstanding presence in South Africa, where it has operated since 1902, by divesting its shares in its retail, transportation, and refining unit. The majority stake of 72% in this unit is held by the energy company, while the remaining 28% is owned by local investment firm Thebe.
- 5 months, 3 weeks
RUSSIA’S OIL REVENUES DOUBLED IN APRIL COMPARED TO A YEAR EARLIER.
In April 2024, Russia's oil revenues doubled compared to the same month a year earlier, reaching $11.5 billion. This increase was driven by higher oil prices and a weaker ruble.
- 5 months, 3 weeks
U.S. GAS STOVES CONTRIBUTE TO 19,000 DEATHS A YEAR.
Scientists are exploring methods to reduce pollution from gas stoves at home, a new frontier after decades of cleanup in automotive, factory, and power plant sectors. Cooking with gas releases nitrogen dioxide, linked to asthma and respiratory diseases.
- 5 months, 4 weeks
UAE QUIETLY BOOSTS OIL PRODUCTION CAPACITY AHEAD OF OPEC MEETING.
ADNOC has quietly increased its oil production capacity to 4.85 million barrels per day (bpd), up from the previously reported 4.65 million bpd. The United Arab Emirates state-owned oil company aims to further raise this capacity to 5 million bpd by 2027, a target set years ago.
- 5 months, 4 weeks
DEVELOPING NATIONS LOOK TO BALANCE OIL AND GAS OPPORTUNITY WITH CLIMATE CONCERNS.
The International Energy Agency (IEA) recommends keeping new oil discoveries in the ground to achieve global climate goals. African and Caribbean nations are under pressure to choose between economic growth and climate action.
- 5 months, 4 weeks
ARAMCO LEADS OIL INDUSTRY INVESTMENT IN AI.
Global Data has reported that Aramco, a leading oil company, is the largest investor in artificial intelligence (AI) in the oil industry, having spent $3.5 billion on research and development last year.
- 6 months
TANZANIA: EWURA GETS AN AWARD FOR BEST MANAGEMENT IN CENTRAL PROJECTS.
The Authority for Energy and Water Services Regulatory (EWURA), has received the second winner award in the Best Management of Indigenous Participation in Strategic Projects in the Country.
- 6 months
SAUDI ARAMCO SEEKS INVESTMENT OPPORTUNITIES IN NEW ENERGIES ABROAD.
Aramco is expanding its investment focus to include new energy sources and technologies beyond Saudi Arabia. The company has doubled its venture capital fund to $7 billion, aiming to support innovative startups and disruptive technologies.
- 6 months
BP SUSPENDS PRODUCTION FROM GIANT OIL FIELD PLATFORM IN AZERBAIJAN.
The British oil company BP has halted oil production from a platform at a significant oil field in Azerbaijan, shortly after commencing production at a new offshore rig. The suspension is part of a scheduled maintenance plan, with operations expected to resume on May 10, 2024.
- 6 months
DRONE ATTACKS TAKE KHOR MOR GAS FIELD OFFLINE, CLAIMS LIVES.
Four expatriate workers lost their lives, and two others were injured in a recent drone attack on the Khor Mor gas field in Iraq's Kurdistan region. This attack, reported by an advisor to the Iraqi Kurdish Prime Minister and a senior Kurdish political source, has also led to the suspension of production at the site.
- 6 months
TURKEY SEEKS LNG DEAL WITH EXXON TO REDUCE RELIANCE ON RUSSIA.
Turkey is in discussions with U.S. supermajor ExxonMobil regarding a long-term LNG supply agreement, aiming to lessen its dependence on Russia or any single supplier, Turkish Energy Minister Alparslan Bayraktar revealed in an interview with the Financial Times.
- 6 months
TOTAL ENERGY ANNOUNCES DEVELOPMENTS IN THE $27 BILLION DEAL IN IRAQ.
Patrick Pouyanné, CEO of Total Energies, briefed Iraqi Prime Minister Mohammed Shia al-Sudani on the specifics of his company's $27 billion energy project deal with Baghdad.
- 6 months
ALGERIA'S SONATRACH SIGNS NEW AGREEMENT WITH OMAN TOWERS.
Algeria's Sonatrach is actively working to expand bilateral cooperation with Oman in the energy, mining, and hydrocarbon exploration sectors. Recently, a memorandum of understanding was signed between Sonatrach and Oman Energy Services Abraaj.
- 6 months
EXXON EXPECTS REGULATOR TO GREENLIGHT $60-BILLION PIONEER DEAL IN JUNE.
ExxonMobil anticipates approval from the U.S. antitrust authority for the acquisition of Pioneer Natural Resources by the end of June. The deal, valued at $60 billion in all-stock, would significantly expand ExxonMobil's presence in the Permian Basin, doubling its footprint.
- 6 months
IRAQ SETS THE CEILING ON OIL EXPORTS WITHOUT ADHERING TO OPEC+ DECISIONS.
Iraq plans to set a fixed ceiling on its oil exports until the end of 2024, irrespective of future decisions made by the OPEC+ alliance regarding production cuts.
- 6 months, 1 week
GIANT EXPLORATION VESSEL HEADING TO TWO COUNTRIES IN AFRICA.
Drilling and exploration activities in Africa are progressing rapidly, with a significant increase in activity. The Noble Venture, a large exploration vessel owned by Britain's Noble Corporation, is set to embark on two new missions in Africa.
- 6 months, 1 week
TEXAS DEEPWATER OIL EXPORT PROJECTS STALL.
Before the 2020s, four offshore projects were in the works near Texas. These plans, however, were derailed by a series of crises that rocked the oil industry, reshaping the flow of oil trade.
- 6 months, 1 week
NAMIBIA RACKS UP ANOTHER MAJOR OFFSHORE OIL DISCOVERY.
Galp's share price surged by more than 20% in early trading on Monday following the announcement of a significant oil discovery in offshore Namibia.
- 6 months, 1 week
THE CHEAPEST COUNTRIES IN GASOLINE, THE TOP 5 GLOBALLY.
Despite the global rise in fuel prices, some countries are striving for a leading position among the cheapest gasoline providers. This trend is driven by the increasing energy demand and rising tensions in the Middle East, which threaten to push the price of oil above $100 per barrel.
- 6 months, 1 week
OMAN SIGNS LIQUEFIED GAS DEAL TO SUPPLY TURKEY WITH ONE MILLION TONS PER YEAR.
Today, Friday, April 19, 2024, the Sultanate of Oman has finalized a new liquefied gas agreement, marking the third such deal this week and the fourth since the beginning of the year.
- 6 months, 2 weeks
KAZAKHSTAN TO CONSIDER BUILDING OIL PIPELINE IN THE CASPIAN SEA.
Kazakhstan, a non-OPEC oil producer participating in the OPEC+ agreement, is contemplating the construction of an oil pipeline in the Caspian Sea, according to a report by the Russian news agency Interfax citing Kazakhstan’s Energy Ministry.
- 6 months, 2 weeks
NIGERIA IS OPEC'S LARGEST OIL PRODUCER IN AFRICA.
The ranking of the largest African oil producers in OPEC during the first quarter of this year reveals disparities in average production across the continent. Some countries implemented voluntary cuts while adhering to the production reduction policy of the OPEC+ alliance.
- 6 months, 2 weeks
U.S. TO CONVERT OIL RIGS INTO MISSILE BASES IN PACIFIC DEFENSE STRATEGY AGAINST CHINA.
The United States is planning to repurpose oil rigs into a missile base, a strategic move aimed at strengthening its defense capabilities against potential Chinese threats in the Pacific. Naval engineering firm Gibbs & Cox has introduced the Modip project, which seeks to convert inactive oil rigs in the western Pacific into mobile missile defense bases to counter Chinese weapons.
- 6 months, 2 weeks
ALGERIAN GAS TURBINE PLANT ANNOUNCES FIRST STEP IN AFRICA.
The Algerian gas turbine plant has taken a significant step forward, marking a first in Africa and adding to its achievements by securing a substantial share of the exports for a crucial component of power plants.
- 6 months, 2 weeks
ASIAN LNG PRICES SOAR ON FEARS OF WIDER MIDDLE EAST CONFLICT.
Spot LNG prices in Asia surged to their highest level since January amid concerns of escalating conflict in the Middle East.
- 6 months, 2 weeks
U.S. TO SET UP GLOBAL CARBON LEAKAGE TASK FORCE.
The U.S. federal government plans to establish a specialized task force to address global carbon emissions resulting from trade and manufacturing activities.
- 6 months, 2 weeks
LARGEST AVIATION HYDROGEN FUEL CELL PROJECT TO START BY 2029.
The unveiling of the largest hydrogen fuel cell project for aircraft, supported by significant government funding, has sparked discussions about the feasibility of hydrogen in aviation.
- 6 months, 2 weeks
U.S. CPI UP 3.5% IN MARCH; CENTRAL BANKS POSTPONE RATE CUTS AMID OIL PRICE SURGE.
The latest U.S. consumer price index revealed a 3.5% increase in March compared to the previous year.
- 6 months, 2 weeks
U.S. CHEVRON PERMANENTLY EXITS MYANMAR.
US oil and gas giant Chevron has divested its stake in Myanmar's Yadana gas field, part of its ongoing withdrawal from the country following a military coup more than two years ago.
- 6 months, 2 weeks
OMAN GAS DEAL WITH GERMANY MARKS SHIFT TO EUROPEAN GAS HUB INDEX PRICING.
The gas deal between Oman and Germany is set to implement a rare practice in Oman, involving fixed-term contracts for the first time.
- 6 months, 2 weeks
AFRICAN COUNTRY EXPORTS FIRST LNG SHIPMENT TO EUROPE.
Europe recently welcomed its inaugural LNG delivery from a new African exporter, diversifying its energy sources amid efforts to reduce reliance on Russian supplies.
- 6 months, 2 weeks
IRAQ: U.S.’S NEW HOPES ARE DASHED, AS IT SIGNS LONGEST EVER GAS DEAL WITH IRAN.
Iraq has long been a strategic focal point for Washington, especially since welcoming the U.S. after the fall of President Saddam Hussein in 2003.
- 6 months, 3 weeks
CHINA EXPORTS GASOLINE USING BLOCKCHAIN IN UNPRECEDENTED MOVE.
Sinochem Energy Technology Co. Ltd., a subsidiary of the state-owned multinational Sinochem Corp., has achieved a significant milestone by shipping gasoline from Quanzhou City, China, to Singapore using blockchain technology.
- 6 months, 3 weeks
ENAUTA AND 3R PETROLEUM IN TALKS FOR MAJOR MERGER, CREATING LATIN AMERICA ENERGY POWERHOUSE.
Enauta, a Brazilian oil and gas company, is currently in discussions to merge with 3R Petroleum Óleo e Gás, a move that could establish a significant independent player in Latin America's energy sector.
- 6 months, 3 weeks
UAE: ADNOC OPTIMIZES CRUDE PROCESSING, BOOSTS MURBAN EXPORTS.
Abu Dhabi National Oil Company (ADNOC) has redirected its medium sour grade Upper Zakum for processing at a local refinery since late 2023.
- 6 months, 3 weeks
NATURAL GAS PRICES PLUMMET AS ETFS STRUGGLE, BRENT CRUDE TOPS $90 AMID MIDDLE EAST TENSIONS.
Exchange-traded funds (ETFs) are investment funds that are traded on stock exchanges, much like stocks.
- 6 months, 3 weeks
THE LARGEST EXPORTER OF LIQUEFIED GAS TO EUROPE IN THE FIRST QUARTER, ALGERIA CONTINUES TO EXCEL.
During the first quarter of this year, three Arab countries were among the largest exporters of liquefied gas to Europe, with the United States alone accounting for more than 50% of the total supplies received by the European market.
- 6 months, 3 weeks
OIL PRICES SURGE AS GEOPOLITICAL RISK RISES.
Oil prices are on the rise due to increasing geopolitical tensions and a bullish trend in West Texas Intermediate (WTI) crude oil, closely following Brent crude's movements. Escalating unrest in the Middle East, particularly involving Israel and Iran, has led to uncertainties in oil supply, boosting global oil prices and contributing to the upward movement of WTI prices.
- 6 months, 3 weeks
THE WORLD'S LARGEST OFFSHORE OIL FIELD IS LOCATED IN SAUDI ARABIA.
The Safaniya field in Saudi Arabia is the largest offshore oil field globally, discovered in a submerged area. The Kingdom aims to develop it further through new deals to increase production as part of efforts to support its economy.
- 6 months, 4 weeks
SLB ANNOUNCES $8-BILLION DEAL AS MERGERS EXTEND TO OILFIELD SECTOR.
SCHLUMBERGER (SLB), the leading oilfield services provider globally, announced a definitive agreement on Tuesday to acquire smaller competitor ChampionX Corporation in an all-stock transaction valued at $7.75 billion, as consolidation in the energy sector extends to oilfield services.
- 6 months, 4 weeks
ACTIVISTS PUSH INSURERS TO DROP OIL AND GAS PROJECTS, INDUSTRY HESITANT.
Extinction Rebellion, an activist group, conducted a week-long campaign against insurers to stop insuring oil and gas projects. However, it's unlikely that the insurance industry would be willing to drop clients that bring in between $1.6 billion and over $2 billion in premium income annually.
- 6 months, 4 weeks
GLOBAL GAS INVESTMENT SET TO SOAR TO $9 TRILLION BY 2050 DESPITE ENVIRONMENTAL CONCERNS.
Global gas investment is projected to grow significantly in the coming decades, despite criticism and campaigning by environmentalists and climate workers against the industry, as per a recent analytical report obtained by the Energy Research Unit.
- 7 months
PETROCHEMICALS ARE DRIVING 90% OF CHINA'S OIL DEMAND GROWTH.
China's oil market is closely monitored by energy experts, not only because of its size but also due to the ongoing electric vehicle (EV) revolution.
- 7 months
THE UNITED ARAB EMIRATES SECURED THE TOP SPOT WITH A MAJOR LNG DEAL IN MARCH 2024.
The United Arab Emirates took the lead in the top 5 liquefied natural gas (LNG) deals in March 2024, with strong competition from Arab countries such as Iraq and Qatar.
- 7 months
SAUDI ARAMCO SIGNS CONTRACTS FOR MEGA GAS PROJECT.
Saudi Aramco has signed contracts worth $7.7 billion for the engineering, procurement, and construction of a significant expansion of a large gas project.
- 7 months
GLOBAL OIL MARKET ADJUSTS AS OPEC CUTS PROVE EFFECTIVE, PRICES CLIMB HIGHER.
McKinsey reported a 32 million-barrel decrease in global oil inventories in February, signaling a shift in market dynamics. As new demand data emerges, prices are climbing higher.
- 7 months
EXXON AND CNOOC TEAM UP TO CHALLENGE CHEVRON’S GUYANA OIL DEAL.
Exxon and CNOOC have joined forces in their arbitration claims against Chevron's acquisition of Hess's share in the Stabroek oil block.
- 7 months
TRANSPORT RECOVERY REKINDLES THREAT OF DIESEL SHORTAGE.
Moody's has predicted a significant increase in diesel prices in the United States, with a rise of over $1 per gallon from pre-pandemic levels, reaching $4.50 per gallon.
- 7 months
OIL MOVES DOWN ON INVENTORY RISE.
Crude oil prices declined today following the Energy Information Administration's report of a 3.2 million barrel inventory build for the week ending March 22. This contrasts with the previous week's 2 million barrel draw, which was accompanied by a significant draw in gasoline inventories, providing price support.
- 7 months
TOTAL ENERGIES FACES LEGAL CHALLENGE OVER SOUTH AFRICA DRILLING PLANS.
Environmental groups are contesting French oil major Total Energies' plans to drill five wells off the coast of South Africa in court. The groups aim to halt the drilling, alleging that the environmental impact assessment was not conducted in accordance with requirements.
- 7 months
SANCTIONS BEGIN TO BITE INTO RUSSIAN OIL EXPORTS.
The tightening sanctions on Russia's oil exports are leading to increased freight costs for transporting Russian crude.
- 7 months
OPEC SEES NO NEED FOR POLICY CHANGE PROPOSAL AT NEXT WEEK’S MEETING.
The OPEC+ group has decided that there is no need for a change in the next Joint Ministerial Monitoring Committee (JMMC) meeting.
- 7 months, 1 week
U.S. GAS PRODUCER OPTIMISTIC DESPITE VERY LOW NATURAL GAS PRICES.
U.S. domestic gas producers remain optimistic about gas as a fuel, despite current market challenges. They believe in its continued demand both domestically and internationally.
- 7 months, 1 week
CHINA'S ELITE OFFSHORE CONTRACTOR SHATTERS RECORDS, RAKES IN $4.3 BILLION IN REVENUE.
China's leading offshore contractor Offshore Oil Engineering Company (COOEC) soared to unprecedented financial heights last year, boasting sales revenue of 30.752 billion yuan ($4.3 billion).
- 7 months, 1 week
A TOP EXECUTIVE FROM AFRICA OIL JOINS BOARD OF KEY PARTNER IN HUGE NAMIBIA DISCOVERY.
A top executive from Africa Oil has been appointed to the board of Impact Oil & Gas, the privately owned explorer which is a partner in Total Energies’ huge Venus's discovery offshore Namibia.
- 7 months, 1 week
TOTAL ENERGIES AND SINOPEC TEAM UP TO DEVELOP SUSTAINABLE AVIATION FUEL.
Partnership strengthens companies’ commitment to pioneering sustainable aviation fuels.
- 7 months, 1 week
AZERBAIJAN CHARTS NEW ENERGY COURSE AMID CASPIAN UNCERTAINTY.
Azerbaijan is strategically capitalizing on Kazakhstan's shift away from Russian oil transit by expanding its own oil exports through the Baku-Tbilisi-Ceyhan pipeline and potentially reviving the Baku-Supsa pipeline route.
- 7 months, 1 week
OIL INDUSTRY EXECUTIVES SAY OIL DEMAND IS BEATING FORECASTS.
Oil industry executives are witnessing stronger-than-expected growth in oil demand compared to the International Energy Agency's (IEA) projections. This uptick is driven by sluggish electric vehicle adoption and a thriving US economy, prompting a revision of forecasts.
- 7 months, 1 week
U.S.A: EPA’S NEW CAR EMISSION STANDARDS DOOM THE GASOLINE CAR.
This week, the Environmental Protection Agency (EPA) finalized new tailpipe emission standards, described as the strictest ever, aiming to save money, create jobs, and cut billions of tons of CO2 emissions.
- 7 months, 1 week
OIL SUPPORTED BY CRUDE, GASOLINE DRAWS.
Today, crude oil prices dipped as the Energy Information Administration revealed a 2-million-barrel reduction in U.S. crude oil inventories for the week ending March 15, accompanied by a decline in gasoline stocks.
- 7 months, 1 week
SAUDI ARAMCO TO EXPAND NATURAL GAS OUTPUT CAPACITY BY 60%.
Saudi Arabia's state oil giant Aramco, having abandoned plans to expand oil capacity earlier this year, is now set to increase its natural gas output by 60% by 2030, according to Reuters. This information comes from an Aramco executive speaking at the Houston CERAWeek energy conference.
- 7 months, 1 week
CNOOC MAKES ANOTHER MAJOR OIL DISCOVERY OFFSHORE CHINA.
CNOOC Limited has announced a significant oilfield discovery in the Bohai Sea off the coast of China, confirming more than 100 million tons of oil equivalent in-place volume.
- 7 months, 2 weeks
INDIA BUYS MORE U.S. OIL.
Stricter enforcement of sanctions on Russian crude oil has led to reduced exports to India. The volume of U.S. crude oil flowing to India in April is expected to be the highest since May 2023.
- 7 months, 2 weeks
NEW TECHNOLOGY IS FUELING AMERICA’S OIL BOOM
On March 11, 2024, the Energy Information Administration (EIA) confirmed that the United States has become the largest crude oil producer in history.
- 7 months, 2 weeks
SAUDI ARABIA: ARAMCO'S DIVIDEND INCREASE RAISES FINANCIAL CONCERNS.
Saudi Aramco raised dividends by 30% in 2023, despite a drop in profits due to an 18% decrease in the average price per barrel of Brent crude oil.
- 7 months, 2 weeks
BANGLADESH LAUNCHES LARGEST OFFSHORE EXPLORATION DRIVE IN A DECADE.
The government's recent actions signify a proactive approach to addressing Bangladesh's energy challenges.
- 7 months, 2 weeks
TECHNOLOGICAL BREAKTHROUGHS FUEL A BRIGHT FUTURE FOR TIDAL POWER.
Tidal energy production is recognized for its potential to provide vast amounts of clean energy, utilizing predictable tidal currents through methods like tidal streams, barrages, and tidal lagoons.
- 7 months, 2 weeks
OIL MAJORS SET TO SANCTION $125 BILLION UPSTREAM PROJECTS IN 2024.
International oil and gas majors, including Total Energies and ExxonMobil, along with the national oil companies (NOCs) of the Middle East, are gearing up to approve approximately 30 projects in 2024.
- 7 months, 2 weeks
U.S.A OIL, GAS ACTIVITY PICKS UP BUT SLOW START TO THE YEAR.
The total number of active drilling rigs for oil and gas in the United States rose by 6 this week, according to new data that Baker Hughes published on Friday, bringing the total rigs gained this year to 7.
- 7 months, 2 weeks
JAPAN LOOKS TO RESTART THE WORLD’S LARGEST NUCLEAR POWER PLANT.
Japan is intensifying its efforts to gain approval from local authorities for the restart of the Kashiwazaki-Kariwa nuclear power plant, the world's largest, located north of Tokyo.
- 7 months, 2 weeks
SHELL FOCUSES ON INVESTOR RETURNS AS CLIMATE GOALS TAKE A BACKSEAT.
The CEO of Shell received £7.94 million despite the company lowering its net zero targets. The new targets focus on reducing the carbon intensity of products sold, rather than overall emissions reduction.
- 7 months, 2 weeks
U.S.A: RISING GASOLINE PRICES ARE BAD NEWS FOR BIDEN.
The recent increase in gasoline prices in the U.S. is causing inflation to rise higher than expected, which poses challenges for both the Federal Reserve's monetary policy and President Joe Biden's efforts to convince voters that the economy is performing well.
- 7 months, 2 weeks
JAPAN LOOKS TO BUDDY UP TO ALLIES FOR LNG SUPPLY POST-2030.
Japan is seeking help from Western allies to secure LNG contracts beyond 2030, as the risks of relying on Russia for supplies have become apparent since the Ukraine invasion.
- 7 months, 2 weeks
BIG OIL PURSUES AFRICAN EXPANSION DESPITE CHALLENGES.
Investments in new oil production have been slowing down since around 2014, leading many to predict that higher prices are likely to persist, supported by energy policies in key jurisdictions that are against the oil industry.
- 7 months, 3 weeks
NAMIBIA: OFFSHORE OIL & GAS E&P STAGING A COMEBACK.
This week, Total Energies and Qatar Energy announced plans to expand their exploration efforts in the Orange Basin offshore Namibia.
- 7 months, 3 weeks
CHINA HOLDS THE KEY TO 2024 GLOBAL OIL DEMAND GROWTH.
While China's crude oil imports increased in the first two months of 2024, it's premature to gauge their impact on global oil demand and prices for the year.
- 7 months, 3 weeks
U.S.A: NATURAL GAS FUTURES MARKET'S VOLATILITY EXPECTED TO PERSIST.
Despite the currently low natural gas prices in the United States and the abundance of shale gas resources, the futures market has experienced significant fluctuations in recent months.
- 7 months, 3 weeks
KUWAIT SEES SOLID OIL DEMAND IN A FAIRLY BALANCED MARKET.
Shaikh Nawaf Al-Sabah, the chief executive of Kuwait Petroleum Corporation (KPC), stated in an interview with Bloomberg that global oil demand appears strong in a balanced market this year.
- 7 months, 3 weeks
INDIA MAKES BOLD MOVE TO REDUCE DOLLAR DEPENDENCY IN OIL TRADE.
The Reserve Bank of India is encouraging state refiners to negotiate 10% of oil payments in rupees with Gulf suppliers to protect the rupee's value and reduce reliance on the dollar.
- 7 months, 3 weeks
OIL INCHES HIGHER ON FUEL INVENTORY DRAWS.
Today, crude oil prices rose after the Energy Information Administration (EIA) reported estimated inventory draws across fuels.
- 7 months, 3 weeks
SAUDI ARABIA'S JAFURAH GAS MEGAPROJECT, A POTENTIAL REALITY CHECK.
According to Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman, an additional 15 trillion cubic feet (tcf) of gas has been confirmed at Saudi Aramco’s Jafurah gas field.
- 7 months, 4 weeks
U.S ENERGY INFORMATION ADMINISTRATION (EIA) CONFIRMS MODERATE CRUDE BUILD, PRODUCTS DRAW.
Crude oil prices went lower today, after the U.S. Energy Information Administration reported an estimated inventory increase of 4.2 million barrels for the week to February 23.
- 8 months
WTI SOARS PAST $80 PER BARREL AS OIL MARKET TIGHTENS.
The price of a WTI barrel soared to heights not seen since November as the market braces for an OPEC+ decision on oil production levels in April and beyond.
- 8 months
OMAN INCREASES ITS APPEAL TO CHINA AND IRAN WITH GAME CHANGING DUQM PROJECT.
The long-awaited Duqm Refinery Project (DRP), valued at US$8.5 billion and capable of processing 230,000 barrels per day (bpd), was officially inaugurated on 7 February, this project, along with ancillary projects costing approximately US$10 billion, enhances Oman's appeal to China and nearby Iran.
- 8 months
MEET THE MAN USING AI TO REVIVE AN OIL & GAS PLAY SUPERMAJORS LEFT FOR DEAD.
A North American company is preparing to drill two wells that could be crucial for a new phase of European energy.
- 8 months
CANADA OIL FACES FRESH PIPELINE SHORTAGE.
The expanded Trans Mountain will add 590,000 barrels daily to the country's oil pipeline network. With production already on a growth trajectory, it will only provide producers with offtake capacity relief for a very short while. Canadian oil production could hit 5.3 million barrels daily this year, this would be a record high and an excess on the country's pipeline network.
- 8 months, 1 week
RUSSIAN ENERGY IS TOO CHEAP FOR SOME COUNTRIES TO RESIST.
While some countries decrease reliance on Russian energy due to sanctions, others, like China and India, deepen ties with Moscow to secure low-cost energy supplies. China and India's increased imports of Russian energy contribute to a decline in oil prices and undermine the effectiveness of U.S. and EU sanctions. India's defense of buying Russian energy highlights its strategic energy and economic considerations amid global geopolitical tensions.
- 8 months, 1 week
SAUDI ARABIA CAN NO LONGER RAISE OIL OUTPUT FOR CASH.
. Saudi Arabia has been spending heavily both abroad and at home. . As a result, last year, the Public Investment Fund’s cash and treasury assets slimmed from over $105 billion in 2022 to some $37 billion as of September. . Perhaps the decline in sovereign wealth fund money was part of the reason why Saudi Arabia announced earlier this month it would cancel a planned oil production capacity expansion.
- 8 months, 1 week
AMERICA: TRUMP 2.0 SET TO GUT BIDEN'S ENERGY AND CLIMATE POLICIES.
Donald Trump, the most likely Republican presidential nominee, is set to overturn or at least try to dismantle many of President Joe Biden's energy and climate policies if the former president wins the November election.
- 8 months, 1 week
DODOMA: THE CONSTRUCTION OF THE NEW TAZAMA PIPELINE IS UNDERWAY.
The construction of a new oil pipeline expected from Dar es Salaam, Tanzania to Ndola Zambia, using the TAZAMA pipeline developer will have a length of 1710 kilometers and the capacity to transport a million tons of cubic meters 4 is about to start.
- 8 months, 1 week
DR. BITEKO CONGRATULATES EWURA FOR GOOD MANAGEMENT OF THE OIL SECTOR IN THE COUNTRY.
Deputy Prime Minister and Minister of Energy, Hon. Dr. Doto Biteko (Mb), has congratulated EWURA for the good management of the small petroleum sector in the country, especially in ensuring the quality and availability of the service on time and at the right price.
- 8 months, 1 week
DODOMA: PRIME MINISTER KASSIM MAJALIWA LEADS THE MEETING OF THE MINISTERS' COMMITTEE ON CLEAN COOKING ENERGY.
Prime Minister Kassim Majaliwa has chaired the meeting of the Ministerial Committee on Clean Cooking Energy, in the Speaker's hall parliament in Dodoma. The meeting was also attended by the Deputy Minister Head and Minister of Energy, Hon. Dr. Doto Biteko.
- 8 months, 1 week
TANZANIA: DEPUTY MINISTER OF ENERGY, HON JUDITH KAPINGA HAD DISCUSSION WITH THE MINISTER OF PETROLEUM IN INDIA.
Deputy Minister of Energy, Hon. Judith Kapinga talking about something during the discussion held between her and the Minister of Petroleum of India, Hon. Shri Hardeep Singh Puri on collaborations and investment opportunities between the two countries in the oil and natural gas sector during the celebration of the Energy Week in India on 06.02.2024.
- 8 months, 1 week
The Moroccan-Nigerian gas pipeline project includes 4 new African countries
The Moroccan-Nigerian gas pipeline project includes 4 new African countries
- 1 year, 4 months
NEW DELHI: India will soon overtake China as the largest driver of global oil demand
India will soon overtake China as the largest driver of global oil demand
- 1 year, 4 months
Qatar Energy to sign long-term LNG supply deal with Bangladesh
The agreement will be one of many to come this year as state-owned Qatar Energy secures sales for its mega expansion of North Field, a source with direct knowledge of the new contract agreement, who did not wish to be identified, said
- 1 year, 5 months
China's fuel oil imports soar as inspections curb bitumen blend intake
SINGAPORE: China's independent oil refiners are rumping up fuel oil imports to process into gasoline and diesel amid robust refining margins as ongoing cargo inspections at refining hub Shandong have cut off supplies of lower-priced feedstock bitumen blend.
- 1 year, 5 months
Crude oil prices rise 2% and Brent is above $78 a barrel - (Update)
Crude oil prices rose by about 2%, at the end of trading today, Wednesday, May 24 (2023), to continue to reap gains for the third consecutive session, amid fears of a supply shortage.
- 1 year, 5 months
Global demand for oil is rising to a record level
Global oil demand rose to a new record high in March 2023, supported by growth in China and the United States. The world's oil consumption jumped by about 3 million barrels per day, on a monthly basis, during last March, according to the report issued few days ago on this May 2023.
- 1 year, 5 months
ANGOLA: Angola's Downstream Development to Drive Domestic Capacity
Despite serving as the largest oil producer on the African continent, Angola has a minor downstream industry and currently imports approximately 80% of its refined petroleum. Consequently, one of the sub-Saharan African country’s Government’s main strategic targets is to increase domestic crude processing capacity.
- 1 year, 5 months
The Oil Market Crisis Sparked By Russia’s Invasion Is Nearing Its End
The Oil Market Crisis Sparked By Russia’s Invasion Is Nearing Its End
- 1 year, 9 months
Oil Prices Will Return To $100 Per Barrel in 2023.
Manager at Ninepoint Partners LP, has told the Financial Post that oil prices will return to $100 per barrel in 2023.
- 1 year, 9 months
RUSSIA : Russian Retaliation on Oil Price Cap
On Tuesday, Russian President Vladimir Putin banned the sale of Russian oil to countries that have joined the so-called Price Cap Coalition and comply with the cap imposed by the Western countries.
- 1 year, 10 months
TANZANIA : 3D Seismic Data Acquisition in Ruvuma Block Completed
ARA Petroleum Tanzania Ltd has noted that the acquisition of 3D seismic data in the Ruvuma block in Mtwara in 100% complete.
- 1 year, 10 months
SENEGAL: Sangomar FPSO Construction Phase Completed
The Chinese yards achieved excellent safety performance throughout this phase of construction, logging more than 16 million hours of complex construction work without a lost-time injury event.
- 1 year, 11 months
MOROCCO: Predator Oil & Gas Receives £900,000 loan for Expansion of Drilling Project
MOROCCO: Predator Oil & Gas Receives £900,000 loan for Expansion of the MOU-1 testing programme & MOU-3 long-lead drilling items
- 1 year, 11 months
Tanzania Has Signed a Production Sharing Agreement (PSA) for Ruvuma Block
The Government of Tanzania has signed a Production Sharing Agreement (PSA) for the Ruvuma block after 12 years of production
- 1 year, 11 months
TOGO: Blitta Solar PV Plant Capacity To Be Increased To 70 MWp
The government of Togo has obtained a promise of financing from the Abu Dhabi Export Office (ADEX)
- 1 year, 11 months
MOZAMBIQUE: Announces First LNG Export Shipment
Mozambique has officially started exporting liquefied natural gas (LNG) produced in the country's restive north
- 1 year, 11 months
Senegal, Mauritania Sign Agreements on $25bn Gas Pipeline
The NNPC, Petrosen of Senegal and the Mauritanian company of hydrocarbons signed four MoUs, in furtherance of the implementation of the NMGP project.
- 2 years
Biden's Offer To Buy Crude Rejected By Shale Oil Companies
The majority of shale oil companies announced their rejection of US President Joe Biden's offer
- 2 years
TANZANIA : PUMA To Support the Objective of Clean Cooking
Puma to support the objective of clean cooking in Tanzania
- 2 years
SOMALIA: Coastline Exploration Received Final Authorization For Its Production Sharing Agreements
Coastline Exploration Received Final Authorization For Its Production Sharing Agreements
- 2 years
Republic Of Congo To Commercialise Gas Resource
The President of the Republic of Congo, Denis Sassou Nguesso Emphasis Commitment Toward Energy Transition.
- 2 years
Russia Asking The Buyers of LNG To Pay Via the Moscow Bank
Russia Asking The Buyers of LNG to pay for it via the Moscow branch of an international bank,
- 2 years, 3 months
EUROPEAN ENERGY CHALLENGE
France plans to renationalize EDF, its giant utility.
- 2 years, 3 months
Ghana restarts Tema refinery to avoid oil supply crisis
Ghanaian government decided to restart the Tema refinery, to meet domestic demand
- 2 years, 4 months
40% of The Total Russian Oil Going Into Private Refinerie
40 percent of the total Russian oil imports are going into private refinerie
- 2 years, 4 months
USA : The Number of Drilling Rigs Rose by 7
The number of total active drilling rigs in the United States rose by 7 this week,
- 2 years, 4 months
OPEC+ TO DECIDE OIL PRODUCTION
Delegates from OPEC+ are trying to decide what to do when the oil production pact ends in August.
- 2 years, 4 months
EU Ready To Pay for Russian Gas With Ruble
EU members can pay for Russian gas without violating sanctions
- 2 years, 5 months
Oil Soared to $110 mid-Wednesday as EU Plans to Ban Russia Oil
Oil soared to $110 mid-Wednesday as details on the European Union’s plans to ban Russia oil
- 2 years, 6 months
5 Pipeline Valve Reportedly Shut Down by German Activits
German activists have allegedly succeeded in halting the flow of crude oil
- 2 years, 6 months
Oil Prices Rise 3%.. Brent Crude is Near $112
Oil prices shifted nearly 3% higher at the end of trading on Thursday
- 2 years, 6 months
KENYA : Faces Oil Crisis
EPRA said the shortage was also exacerbated by " changing supply dynamics " on international markets worsened by the invasion of Ukraine.
- 2 years, 6 months
Is the East African Oil Pipeline Project Close To Becoming A Reality?
The East African Oil Pipeline is one step closer to implementation, after the signing on February 1 of the $10 billion Final Investment Decision.
- 2 years, 7 months
Germany To Import LNG From Qatar
Germany will be importing liquefied natural gas from Qatar
- 2 years, 7 months
Oil Prices Rallied Amid High Probability of EU Banning Imports of Russian oil.
Oil prices rallied early on Monday amid EU consultations about potentially joining the U.S. in banning imports of Russian oil.
- 2 years, 7 months
Sanctioning Russian Oil & Gas Could Hit UK Hard
The shock waves of the move would end up costing the UK economy more than $90 billion, the country’s chancellor said.
- 2 years, 7 months
ANGOLA: BP & Eni To Form Joint Venture
BP and Eni confirmed today that they have signed an agreement to form a new 50/50 independent company.
- 2 years, 7 months
NIGERIA: Duport Modular Refinery Commissioning March 2022
The Duport Modular Refinery financed with equity participation by the Nigerian Content Development and Monitoring Board (NCDMB) will be ready for commissioning by end of March
- 2 years, 7 months
GABON: VAALCO Energy Provides Update on Etame Field Reconfiguration and FSO Deployment
VAALCO Energy has provided an update on the Etame field reconfiguration in conjunction with the replacement of the existing Floating Production, Storage and Offloading unit (FPSO) with a Floating Storage and Offloading vessel (FSO) offshore Gabon
- 2 years, 7 months
NIGERIA: Zenith Energy Elects not Renew the Option Agreement for OML 141
Zenith Energy has announced that it has elected to not renew the Option Agreement with Noble Hill-Network Limited, first announced to the market on November 29, 2021, for the purchase of a 42% (forty-two percent) interest in the share capital of NHNL.
- 2 years, 7 months
GAMBIA: FAR Has Completed A Review Of The Prospectivity Of Block A2 And A5
Gambia
- 2 years, 8 months
EGYPT: Dragon Oil Made It's First Oil Discovery In Egypt
Dubai government-owned Dragon Oil has made its first oil discovery in Egypt’s Gulf of Suez on Tuesday
- 2 years, 8 months
$100 billion Used To Close Infrastructure Gap in Africa
African Development Bank (AfDB), has approved its first strategic framework for the development of public-private partnerships (PPPs) in an attempt to address and close Africa’s investment gap, which is estimated at over $100 billion a year
- 2 years, 8 months
NIGERIA : Oil Production Vessel Explodes
An oil production vessel exploded off the coast of Nigeria early on Wednesday with 10 crew members on board
- 2 years, 8 months
MOZAMBIQUE : TotalEnergies LNG project in Northern Mozambique
Following the discovery of important quantities of natural gas in the Rovuma Basin off the coast of Northern Mozambique in 2010,
- 2 years, 9 months
UGANDA: CNOOC And TotalEnergies Announced FID On Oil Production
Chinese oil giant China National Offshore Oil Corporation (CNOOC) and France's TotalEnergies on Tuesday announced the Final Investment Decision (FID) to start commercial production in Uganda.
- 2 years, 9 months
NAMIBIA: 300 million Barrels Oil Discovered
Shell has made a significant oil and gas discovery at an closely-watched offshore well in Namibia
- 2 years, 9 months
TANZANIA - Tiper Ready to Build Strategic Petroleum Reserve
Tanzania International Petroleum Reserves Ltd (Tiper) - jointly owned by the government and Oryx Energies of Switzerland - has expressed readiness to build the storage centre if entrusted with the task.
- 2 years, 10 months
IVORY COAST - 2.0 billion barrels of oil discovered
Eni announces a major oil discovery in block CI-101 offshore Ivory Coast. The block is operated by Eni with Petroci Holding, who hold 90% and 10% respectively in the exploration phase.
- 2 years, 10 months
OPEC on course of returning the level of consumption in 2022 to pre-COVID levels
The Organization of the Petroleum Exporting Countries (OPEC) will continue with its supply adjustments for the oil market.
- 2 years, 11 months
UGANDA - EACOP Bill to pave way for FID
The Passing of East Africa Crude Oil Pipeline (EACOP) (Special Provisions) Bill 2021, the enabling legislation to operationalise the agreements is a requirement for the International Oil Companies (IOCs) to announce the Final Investment Decision (FID) for Uganda’s oil projects.
- 2 years, 11 months
UGANDA - Local Communities to reap from supplying of IOCs
Local communities within the oil and gas operational areas will soon reap from supplying the Oil and Gas sector
- 2 years, 11 months
Libya seek to encourage the investment of Oil and Solar Energy
Libya's Minister of Oil and Gas on Monday announced plans to construct a solar plant with French multinational Total Energies.
- 2 years, 11 months
A massive explosion at a petrol station in Capital of Sierra Leone
A massive explosion at a petrol station in Freetown, the capital of Sierra Leone, killed at least 80 people, burning people in cars and streets nearby, a rescue worker and nurse said Saturday.
- 2 years, 11 months
Algeria to cease gas exports to Spain via Morocco
Algerian President Abdelmadjid Tebboune on Sunday ordered state energy firm Sonatrach to halt gas exports to Spain through a pipeline that traverses Morocco due to tensions with Rabat.
- 2 years, 12 months
Armed clashes Lybia's Zawiya oil refinery
Eight oil storage tanks and five other tanks for oil and chemical products were damaged and were leaking while the electrical transformer of the power supply system was also knocked out.
- 2 years, 12 months
Top oil exporter Saudi Arabia targets net zero emissions by 2060
Crown Prince Mohammed bin Salman and his energy minister said Saudi Arabia would tackle climate change, but also stressed the continued importance of hydrocarbons and said it would continue to ensure oil market stability.
- 3 years
Nigeria to end gas flaring by 2030
Nigeria is Africa's largest oil producer and although it remains the country's biggest source of revenue, the biproducts of illegal oil exploration and a powerful oil industry continue to heavily impact local inhabitants.
- 3 years
Tanzania races to develop LNG project
Tanzania is accelerating efforts to join the prestigious Liquefied Natural Gas (LNG) exporters club. After negotiations with oil companies stalled in 2019, President Samia Suluhu Hassan has restarted them. She wants talks to conclude this year and development to start in 2023.
- 3 years
Gabon holds summit to develop and exploit gas potential in the country
Gabon holds proven natural gas reserves. 29 billion cubic meters mainly in the form of associated gas but currently makes only limited use of it. Almost 90% of its production is reinjected into the subsoil or burned for lack of economic outlets.
- 3 years
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