Oil & Gas
VENEZUELA TO GRANT MORE OIL DRILLING BLOCKS TO CHEVRON AND REPSOL.
Venezuela is reportedly preparing to award new oil drilling and production blocks to major energy firms Chevron and Repsol, a move that could accelerate efforts to revive the country’s struggling oil sector. According to reports, officials in Caracas may approve the exploration and production licenses within days, signaling a potential shift toward increased foreign participation in upstream activities. The development comes amid broader geopolitical and sanctions-related adjustments, as Venezuela seeks to boost output and attract investment to rebuild aging infrastructure and expand crude production capacity. If confirmed, the new blocks could strengthen international energy involvement in Venezuela’s oil fields and influence global supply dynamics, especially as markets watch for additional barrels from sanctioned or previously constrained producers.
- 22 hours, 32 minutes
WE WELCOME EACOP, PIPELINE TO REGIONAL PROSPERITY.
EACOP represents a turning point for East Africa, showing how shared energy infrastructure can unlock growth, investment, and real regional integration. As the pipeline moves toward operation, its success could redefine cooperation in the EAC and set the pace for future cross-border projects in oil, gas, and transport.
- 4 days, 22 hours
TANZANIA: THREE NATURAL GAS WELLS DRILLING TO START SOON.
The drilling of three new natural gas wells at the Mnazi Bay Block in Mtwara is set to begin soon, with preparations more than 90 percent complete and the rig already in place. The project is expected to increase gas production to support electricity generation, industrial activities, and domestic energy use.
- 1 week, 2 days
TRUMP SAYS INDIA WILL BUY OIL FROM VENEZUELA AMID GLOBAL ENERGY REALIGNMENT.
U.S. President Donald Trump announced that India is set to resume purchases of Venezuelan crude, marking a major shift in global oil trade flows and energy diplomacy. The move comes as the United States eases sanctions on Venezuela’s oil industry to facilitate exports, while India seeks alternatives to discounted Russian oil amid U.S. pressure and tariff threats. Analysts say the development could reshape regional crude supply patterns, provide new opportunities for Indian refiners, boost Venezuelan revenue, and influence global pricing dynamics. The announcement also signals a broader geopolitical game, with Washington using energy trade as a tool to counter Russian influence, and hints at potential Chinese participation in Venezuelan oil deals.
- 1 week, 4 days
AN INDIAN FIRM IS SEEKING TO INVEST IN TANZANIA’S OIL SECTOR.
Indian Oil Corporation Limited is exploring investment in Tanzania’s oil and LPG sector, aiming to meet rising domestic energy demand. The potential partnership could boost local operations, increase fuel supply stability, and support the country’s economic growth.
- 1 week, 6 days
TANZANIA IS SET TO SIGN A $42B LNG PROJECT DEAL BY JUNE.
Tanzania expects to sign a $42 billion LNG project agreement before June after concluding commercial negotiations, unlocking massive gas reserves and creating over 100,000 jobs. Despite political and financial challenges, the project could position East Africa as a major LNG export hub serving global markets.
- 2 weeks, 1 day
ZANZIBAR MOVES AHEAD WITH 3D OIL SURVEY.
The article explains Zanzibar’s move to revive oil and gas exploration through a 3D seismic survey conducted by AGS, aligned with the government’s blue economy strategy. The survey will provide scientific data to determine whether Zanzibar should proceed with drilling or conclude exploration based on evidence.
- 2 weeks, 2 days
U.S. ENERGY SECTOR REELS AS WINTER STORM KNOCKS OUT UP TO 2 MILLION BPD OF CRUDE OUTPUT.
A widespread winter storm sweeping across the United States has severely disrupted the country’s energy supply chain, temporarily knocking out up to 2 million barrels per day of crude oil production and straining natural gas, refining, and power generation systems. Freezing temperatures, snow, and ice forced major producers to shut in wells, halted refinery units, and reduced gas processing capacity, while power outages affected hundreds of thousands of homes and businesses. The event triggered sharp spikes in natural gas and electricity prices and exposed ongoing vulnerabilities in U.S. energy infrastructure, raising fresh concerns about reliability, market volatility, and energy security as extreme weather events become more frequent.
- 2 weeks, 3 days
RUSSIA’S FUEL OIL EXPORTS TO ASIA SLOW IN EARLY 2026 AS SANCTIONS HAMMER TRADE.
Russia’s exports of high-Sulphur fuel oil to Asian markets have weakened sharply at the start of 2026 amid tighter Western sanctions and disruptions in refinery operations, raising concerns about future supply and market balance. Shipping data show that volumes are on track to fall for a third consecutive month, reflecting heightened scrutiny, longer transit routes, and declining refinery output in Russia—a key supplier for Asia’s energy and industrial sectors.
- 2 weeks, 4 days
PANORO ENERGY ACHIEVES RECORD PRODUCTION IN 2025.
Panoro Energy, the Africa-focused exploration and production company, recorded its highest-ever production levels in 2025, marking a significant operational milestone.
- 2 weeks, 6 days
PHILIPPINES MAKES FIRST NATURAL GAS DISCOVERY IN OVER A DECADE.
The Philippines has announced its first natural gas discovery in more than ten years, marking a major boost for the country’s energy security as it works to reduce reliance on coal and imported fuels. The find, located near the existing Malampaya gas field offshore Palawan, could extend the life of the country’s only indigenous gas source and support growing electricity demand.
- 3 weeks, 4 days
TANZANIA’S MTWARA GAS PROSPECTS BOOSTED BY NEW 3D SEISMIC DATA.
New 3D seismic data indicates that Tanzania’s Ruvuma basin may hold nearly twice as much gas as previously thought, boosting confidence in future discoveries. Planned exploration and testing in 2026 aim to confirm commercial viability, supporting long-term energy and industrial plans in the region.
- 3 weeks, 6 days
HOW THE VENEZUELA CRISIS COULD IMPACT KENYA’S FUEL PRICES.
Falling global oil prices linked to the Venezuela crisis could eventually ease fuel costs in Kenya, though regulatory timing means relief may appear with a lag. Lower import costs also help support currency stability and reduce broader economic pressures.
- 4 weeks, 1 day
INTERNATIONAL OIL COSTS DECLINE AHEAD OF EPRA'S REVIEW OF FUEL PRICES IN KENYA.
Murban crude oil prices have dropped slightly, easing some pressure on Kenya’s upcoming fuel price review by EPRA. Current pump prices remain stable, and global oil market conditions suggest continued predictability for consumers in the near term.
- 4 weeks, 1 day
OIL SLIDES OVER 3% AFTER TRUMP COMMENTS EASE IRAN FEARS.
Oil prices fell sharply on Thursday, dropping more than 3% after U.S. President Donald Trump said that killings in Iran’s nationwide protests were subsiding and there was no immediate plan for large-scale executions, which eased fears of a U.S. military strike and potential supply disruption. Brent and U.S. crude erased much of this week’s gains as markets reassessed geopolitical risk, while rising U.S. inventories and resumed Venezuelan exports added bearish pressure. The pullback reflects a swift market shift from geopolitical fear to risk repricing amid global oversupply concerns.
- 4 weeks, 1 day
WHY 2026 COULD SEE PAIN AT THE PUMP FINALLY EASING IN TANZANIA.
Fuel prices in Tanzania could ease in 2026 due to weaker global crude prices driven by oversupply and improved domestic fuel logistics. Combined with infrastructure gains and stable pricing policy, motorists may experience more predictable and manageable pump prices, even if fuel remains imported.
- 1 month
TOTALENERGIES FORMS MIDDLE EAST TRADING VENTURE WITH BAPCO.
French energy major TotalEnergies has entered into a 50-50 joint venture with Bahrain’s Bapco Energies to establish BxT Trading, a new trading entity focused on the Middle East market.
- 1 month
EXXON’S VENEZUELA DILEMMA: INVESTMENT INTEREST DESPITE POLITICAL PUSHBACK.
Exxon Mobil’s determination to keep its doors open to Venezuela even after President Trump publicly questioned its commitment highlights the fragile yet highly strategic tug of war between business opportunity and geopolitical pressure. With Washington pushing for massive private investment to rebuild Venezuela’s crippled oil sector following Maduro’s removal, Exxon and other U.S. oil majors are weighing enormous resource potential against unresolved legal disputes, past nationalizations, security concerns, and demands for stronger contractual guarantees. The situation sets the stage for a critical test of how far global energy companies are willing to go in navigating political risk, U.S. influence, and long-term profitability in one of the world’s most resource-rich yet uncertain oil markets.
- 1 month
UGANDA, TANZANIA NEAR CRUDE EXPORT MILESTONE.
Uganda and Tanzania are set to export crude oil through EACOP in October 2026, nearing a major regional milestone. The project promises significant economic benefits, including jobs, skills development, and regional trade, while addressing environmental concerns.
- 1 month
EAST AFRICA’S EACOP SHAPES REGIONAL ECONOMY.
EACOP is set to be a game-changer for Uganda and Tanzania, creating jobs, skills, and trade opportunities while supporting Uganda’s economic transformation. The pipeline also reinforces Tanzania’s role as a strategic energy hub, with environmental safeguards in place to ensure responsible development.
- 1 month
UGANDA PRESIDENTIAL HOPEFUL TO REVIEW OIL CONTRACTS IF ELECTED.
Bobi Wine plans to review Uganda’s oil contracts to ensure they favor the country, challenging Museveni in the upcoming elections. Uganda is close to starting oil exports, with EACOP nearly completed and new oil deposits identified, making the sector politically and economically critical.
- 1 month
IRAQ NATIONALISES OPERATIONS OF WEST QURNA-2 OILFIELD.
Iraqi Prime Minister Mohammed Shia Al-Sudani has overseen a cabinet decision to appoint the state-run Basra Oil Company as the operator of petroleum activities at West Qurna-2, one of the largest oilfields globally.
- 1 month
SHELL TO ACQUIRE STAKES FROM CHEVRON IN ANGOLA.
Shell is weighing a potential agreement with Chevron that would see the European energy major acquire stakes in two undeveloped ultra-deepwater offshore blocks in Angola.
- 1 month
TGS LAUNCHES MAURITANIA MEGA SURVEY.
Energy data and intelligence provider TGS has launched a large-scale multi-client 3D seismic initiative offshore Mauritania and across the wider West African Atlantic Margin, known as the Mauritania Mega Survey.
- 1 month, 1 week
UGANDA, TANZANIA SET OCTOBER START FOR FIRST OIL EXPORTS VIA PIPELINE.
The article explains that Uganda and Tanzania are nearing their first crude oil exports through the EACOP project, scheduled to begin in October. It highlights progress, leadership coordination, and environmental mitigation efforts amid ongoing criticism.
- 1 month, 1 week
LIBYAN OIL REVENUES RISE AS OUTPUT HITS 10-YEAR HIGH.
Libya’s oil sector recorded a strong performance in 2025, with crude oil production reaching a 10-year high of 1.4 million barrels per day (bpd), according to the National Oil Corporation (NOC).
- 1 month, 1 week
NEW REFINERY PROJECT TO BOOST ZAMBIA'S DOWNSTREAM SECTOR.
China Zambia Petrochemical Corporation (CZPC) is moving forward with its US$1.1 billion crude oil refinery project in Ndola after securing an Investment License from the Zambia Development Agency.
- 1 month, 1 week
UGANDA WANTS TO COOPERATE WITH RUSSIA IN OIL, GAS SECTOR.
Uganda has expressed interest in strengthening cooperation with Russia in the oil and gas sector, citing Russia’s extensive experience and technical expertise in energy development. The country is also looking to expand broader trade and cooperation with Russia in areas such as construction and information and communications technology.
- 1 month, 2 weeks
INDIA SEEKS $30 BILLION FROM RELIANCE, BP OVER GAS UNDERPRODUCTION IN LANDMARK ARBITRATION.
India is pursuing its largest-ever compensation claim against a private company, seeking more than $30 billion from Reliance Industries and its partner BP over alleged underproduction from the KG-D6 offshore gas fields. The long-running arbitration, which has been underway since 2016, center's on claims that mismanagement of the D1 and D3 deepwater fields led to the loss of vast gas reserves that were critical to India’s energy security ambitions. A final ruling is expected in mid-2026, with potential repercussions for foreign investment confidence and India’s upstream energy policy.
- 1 month, 2 weeks
TANZANIA’S OIL EXPLORATION PROJECT ENTERS SECOND PHASE.
The Eyasi–Wembere oil and gas exploration project has entered its second phase, using explosives in Lake Eyasi to acquire 2D seismic data across 914 kilometres, with significant local participation. Research since 2015 confirms the presence of oil and gas in the basin, highlighting its commercial viability and Tanzania’s growing frontier in the petroleum sector.
- 1 month, 2 weeks
EYASI-WEMBERE OIL PROJECT RECRUITS OVER 2,000 LOCALS.
The Eyasi–Wembere oil and gas exploration project has recruited thousands of Tanzanians, especially local youths, to participate in seismic surveys and other project activities, providing both employment and economic benefits to surrounding communities. PURA oversees the project to ensure compliance with national energy policies and promotes local content, allowing Tanzanians and national enterprises to actively participate in the petroleum upstream industry.
- 1 month, 2 weeks
OMAN STEPS UP DRIVE FOR RENEWABLE ENERGY.
Oman’s Sultan Haitham bin Tariq has emphasized the need to prioritize renewable energy as a cornerstone of the country’s economic diversification strategy.
- 1 month, 3 weeks
US OIL DRILLERS SEE INCREASED ACTIVITY.
The total number of active oil and gas drilling rigs in the United States increased by three this week, according to Baker Hughes data released on Tuesday.
- 1 month, 3 weeks
NTORYA PARTNERS ADVANCING TANZANIA NATURAL GAS PROJECT.
The Ntorya gas project is progressing steadily, with pipeline construction, drilling preparations, and field development activities aligned toward production by 2026. Significant gas reserves and ongoing infrastructure investments position the project as an important contributor to Tanzania’s natural gas sector.
- 1 month, 3 weeks
CHINA OVERTAKES OPEC+ AS THE WORLD’S MAIN OIL PRICE MAKER.
China has quietly emerged as the most powerful force shaping global oil prices, overtaking traditional producers such as OPEC+. Rather than adjusting output, Beijing has used its position as the world’s largest crude importer to influence prices by ramping oil purchases into storage when prices fall and cutting back when prices rise. As OPEC+ holds production steady amid fears of an oil glut, markets are increasingly looking to China’s stockpiling behavior as the key factor determining where crude prices settle in 2026 and beyond.
- 1 month, 3 weeks
UGANDA SEEKS STAKE IN KENYA OIL PIPELINE VIA $2 BILLION VITOL-BACKED LOAN.
Uganda plans to use part of a $2 billion Vitol-backed loan to acquire a stake in the Kenya Pipeline Company as Kenya prepares to privatise up to 60% of the operator through an IPO. The move aims to secure Uganda’s fuel supply and strengthen regional energy cooperation, with KPC currently handling about 90% of Uganda’s petroleum imports.
- 1 month, 3 weeks
VITOL DEAL REVIVES UGANDA’S $4 BILLION REFINERY AMBITIONS.
Vitol’s $2 billion loan provides Uganda with a crucial financing boost for its oil refinery and related energy infrastructure, reviving a project that previously struggled to secure funding. The deal strengthens progress on the EACOP project, positioning Uganda to advance toward large-scale oil production and export.
- 1 month, 4 weeks
OIL JUMPS 1.5% AS TRUMP’S VENEZUELA BLOCKADE RATTLES MARKETS.
Global oil prices climbed more than 1% after U.S. President Donald Trump ordered what he called a “total and complete” blockade of all sanctioned oil tankers entering and leaving Venezuela. The move injected fresh geopolitical risk into oil markets that had been trading near five-year lows amid fragile demand and hopes of easing Russia-related sanctions. While traders remain cautious about the durability of the rally, Trump’s escalation against Venezuela has revived uncertainty around supply flows, shipping risks, and enforcement of U.S. sanctions.
- 1 month, 4 weeks
US PREPARING MORE TANKER SEIZURES OFF VENEZUELA AFTER FIRST SHIP INTERCEPTED.
The United States is escalating its pressure campaign on Venezuela, preparing to seize additional oil tankers after intercepting the first vessel earlier this week. The move signals a sharp intensification of Washington’s sanctions enforcement, sending shockwaves through global shipping networks and putting owners, operators, and oil traders on high alert. With a military buildup underway in the southern Caribbean and heightened scrutiny of vessels involved with sanctioned crude, the U.S. is now targeting the “shadow fleet” that moves Venezuelan, Iranian, and Russian oil—creating mounting uncertainty across the energy and maritime sectors.
- 2 months
PUMA ENERGY TANZANIA WINS DOUBLE HONOURS AT CONSUMER CHOICE AWARDS.
Puma Energy Tanzania has earned major regional and continental recognition after winning two top honours at the Consumer Choice Awards, reaffirming its strong market leadership. The awards highlight the company’s commitment to quality service, modern infrastructure and customer-focused innovation.
- 2 months, 1 week
FUEL PRICES RISE SLIGHTLY FOR DECEMBER AS EWURA ISSUES NEW CAP RATES.
EWURA has announced new fuel cap prices for December 2025, showing a slight drop in petrol and kerosene prices due to reduced import premiums at the Dar es Salaam Port. The authority has also reminded fuel retailers to issue EFPP receipts and clearly display price boards, warning that non-compliance will lead to penalties.
- 2 months, 1 week
GERMANY EXPANDS LNG TERMINALS TO REPLACE LOST RUSSIAN GAS SUPPLIES.
Germany is intensifying its efforts to build and operate LNG import terminals as the country continues shifting away from Russian pipeline gas following Moscow’s 2022 invasion of Ukraine. With floating storage regasification units already receiving LNG and new shore-based facilities on the way, Berlin is creating a diverse import network designed to secure stable supplies through the decade. The Stade terminal is now expected to come online in the second quarter of 2026 at the earliest, joining Mukran, Lubmin, Wilhelmshaven and Brunsbüttel as Germany accelerates long-term energy independence.
- 2 months, 2 weeks
TANZANIA SHIFTS FOCUS TO ELECTRICITY TRANSMISSION AFTER JNHPP COMPLETION.
Tanzania has completed the JNHPP and is now focusing heavily on expanding its electricity transmission network to ensure reliable nationwide distribution. The new infrastructure will also allow Tanzania to export power to neighboring countries and boost revenue.
- 2 months, 2 weeks
NDEJEMBI URGES PURA TO ACCELERATE OIL AND GAS EXPLORATION IN TANZANIA.
Minister Ndejembi urges PURA to fast-track oil and gas exploration and prepare the sector for the fifth licensing round. The initiative aims to increase government revenue, attract investors, and strengthen Tanzania’s petroleum sector for Vision 2050.
- 2 months, 2 weeks
AFRICA’S PETROL SHOCK MAP: SHS 100 IN LIBYA, SHS 5,000 IN UGANDA.
Petrol prices across Africa vary wildly, from Libya’s ultra-cheap state-subsidised fuel to Uganda’s steep pump costs driven by taxes and import logistics. This contrast exposes how policy, geography, and market structure shape the daily cost of mobility for millions.
- 2 months, 3 weeks
TANZANIA STRENGTHENS ITS NATIONAL CLEAN COOKING ENERGY VISION.
TPDC’s clean cooking expansion marks real progress toward Tanzania’s goal of reaching 80 percent clean-energy use by 2034. By improving access, affordability, and awareness, the initiative strengthens national health, environmental protection, and economic development.
- 2 months, 3 weeks
TANZANIA SET TO LEAD THE REGION WITH ITS 42 BILLION USD LNG PROJECT.
Tanzania’s 42 billion US dollar LNG project offers massive economic potential but depends entirely on speed, policy stability and credible execution. The country now faces a narrow window to secure investment before global LNG competition overtakes it.
- 2 months, 3 weeks
NATIONAL STRATEGY TARGETS 80% OF TANZANIANS USING CLEAN COOKING ENERGY BY 2034.
The Tanzanian government aims for 80% of households to adopt clean cooking energy by 2034. Nationwide communication and collaboration across sectors are key to achieving this goal.
- 2 months, 4 weeks
WORLD OIL AND GAS DEMAND COULD GROW UNTIL 2050, IEA SAYS.
Global demand for oil and gas is projected to keep rising until 2050, according to a new forecast from the International Energy Agency (IEA). The agency’s latest report marks a major shift from its earlier outlooks, which predicted a near-term peak driven by cleaner energy adoption. Instead, the IEA now warns that the world’s transition to renewables is moving too slowly to meet climate targets signaling a longer future for fossil fuels and a tougher road toward net zero.
- 3 months
TANZANIA’S IMPORTS GROW MODESTLY AS OIL PRICES DECLINE.
Tanzania’s imports rose slightly by 4.5% to USD 17.42 billion, mainly due to reduced oil import costs following lower global prices. While industrial and infrastructure-related imports grew, service payments also increased over the year. The country’s primary income deficit widened due to higher payments abroad, and the secondary income surplus shrank because of fewer personal transfers. Overall, the economy benefited from reduced fuel costs but faced challenges from rising external financial obligations.
- 3 months
KENYA MOVES TOWARD COMMERCIAL OIL PRODUCTION IN TURKANA.
Kenya is on the verge of launching commercial oil production in Turkana after the government approved and forwarded the Field Development Plan by Gulf Energy E&P B.V. for parliamentary ratification. This milestone, following Tullow Oil’s exit, is expected to accelerate energy development, boost exports, and position Turkana as a key player in Kenya’s petroleum sector.
- 3 months
TOTALENERGIES E&P UGANDA: SUSTAINABLE ENERGY DEVELOPMENT.
TotalEnergies combines sustainability and innovation in projects like Tilenga to balance current energy needs with future environmental protection.
- 3 months
UGANDA’S FIRST OIL EXPECTED IN JULY 2026 AS KINGFISHER REACHES PRODUCTION THRESHOLD
Uganda is on track to produce its first barrel of oil by July 2026 after the Kingfisher Development Project successfully reached the required production threshold. The milestone marks a major step toward the country’s long-awaited entry into oil production.
- 3 months, 3 weeks
EXCLUSIVE: SELLERS CANCEL OIL DEALS WITH CHINA’S YULONG AFTER UK SANCTIONS.
A new wave of sanctions is shaking up global oil flows as suppliers pull out of deals with China’s Yulong Petrochemical. The British government’s latest sanctions on the refiner have forced major producers and traders to cancel contracts, creating a ripple effect that may deepen China’s reliance on discounted Russian crude. With payments frozen and banks avoiding risk, the decision marks a fresh test of how Western measures against Moscow are reshaping global energy trade and how far Beijing is willing to go to keep its refineries running.
- 3 months, 3 weeks
UGANDA TARGETS LATE-2029 START FOR FLAGSHIP HOIMA REFINERY PROJECT.
Uganda’s Hoima refinery project is set to begin operations by late 2029, aiming to boost local value addition and reduce reliance on imported fuel. Backed by a $4 billion partnership, it will also support regional exports and industrial growth.
- 3 months, 3 weeks
TRUMP VOWS TO KEEP ‘MASSIVE’ TARIFFS ON INDIA UNTIL RUSSIAN OIL IMPORTS CEASE.
Oil prices held largely steady on Wednesday, supported by tighter U.S. crude stockpiles and ongoing supply disruptions, though gains were capped by uncertainty over U.S. interest rate policy. Brent hovered near $67 a barrel while U.S. crude futures edged slightly higher, as markets weighed fresh inventory data, stalled Kurdish exports, and reduced Venezuelan shipments against broader economic headwinds. Analysts suggest prices may remain range-bound in the near term as supply concerns clash with demand-side risks.
- 3 months, 3 weeks
WHY UGANDA’S OIL REFINERY REMAINS BEHIND SCHEDULE.
Uganda’s refinery delays stem from financing, technical, and sequencing challenges despite progress in other oil projects. The project remains central to Uganda’s goal of energy independence and regional fuel supply once completed.
- 4 months
TANZANIA SEES OIL POTENTIAL AT EYASI WEMBERE BASIN PROJECT.
The Eyasi Wembere oil exploration project has shown strong potential for oil discoveries that could transform Tanzania’s energy landscape. With heavy local involvement and firm government oversight, the initiative promises both economic and social gains upon completion in 2026.
- 4 months
OIL PRICES SLIP AS GAZA CEASEFIRE PLAN EASES MIDDLE EAST TENSION
Oil prices fell after news of a potential Israel-Hamas ceasefire eased Middle East tensions. A stronger U.S. dollar also pressured prices. While the ceasefire reduced geopolitical risks, analysts say it’s unlikely to impact actual oil supply significantly.
- 4 months, 1 week
OIL PRICES STEADY AS SMALLER OPEC+ OUTPUT HIKE OFFSET BY DEMAND CONCERNS
Oil prices held steady on Tuesday as a smaller-than-expected OPEC+ output hike was offset by concerns over weakening global demand and a potential supply glut. Brent crude rose slightly to $65.48, while WTI remained at $61.69. Analysts say the modest production increase eased fears of a large surplus, but economic slowdown and rising non-OPEC+ supply continue to pressure the market. Geopolitical tensions, including a drone attack on a Russian refinery, are also adding uncertainty to the outlook.
- 4 months, 1 week
SOLAR COULD HELP IRAQ BOOST OIL EXPORTS BY 250,000 BPD
Iraq plans to boost crude oil exports by 250,000 barrels per day by replacing domestic oil-based power generation with solar energy. This shift, while not abandoning fossil fuels, will free up more oil for export and increase national revenues. Though solar currently provides less than 1% of Iraq’s electricity, projects like TotalEnergies’ 1-GW plant mark the start of ambitious plans to reach 12 GW of solar capacity by 2030. Simultaneously, Iraq aims to raise oil production from 4.4 million to 7 million bpd by 2030, pursuing both renewable expansion and fossil fuel growth.
- 4 months, 1 week
PRESIDENT SAMIA PUTS OIL AND GAS AT THE HEART OF 2025 CAMPAIGN PROMISES
On the campaign trail, President Samia Suluhu Hassan has made oil and gas central to her 2025 platform, pledging that projects like LNG in Lindi and EACOP will deliver jobs, revenue, and inclusive growth. By linking energy to the blue economy, infrastructure, and industrialisation, she positions it as the catalyst for Tanzania’s next phase of development.
- 4 months, 2 weeks
LNG’S RISE CAN REDRAW TANZANIA’S ECONOMIC MAP.
The $42 billion LNG project in Lindi has the potential to redraw Tanzania’s economic map by shifting growth towards the historically neglected southern regions while fueling industrialisation nationwide. Combined with infrastructure like the SGR, LNG could transform Tanzania into a trillion-dollar economy and a regional energy hub if managed transparently and inclusively.
- 4 months, 2 weeks
SOMALIA EYES OIL BOOM AS FIRST OFFSHORE DRILLING SET FOR 2026.
Somalia’s first oil drilling marks a historic step toward harnessing its vast reserves for economic growth. Success will depend on good governance and responsible management to ensure the resource brings prosperity, not conflict.
- 4 months, 2 weeks
EPRA LISTS 12 PETROL STATIONS SELLING ADULTERATED FUEL, OIL FOR EXPORT.
EPRA’s inspection revealed 12 non-compliant petrol stations selling adulterated fuel, leading to closures and fines. At the same time, the regulator reviewed fuel prices, announcing slight reductions to ease costs for consumers.
- 4 months, 2 weeks
EAST AFRICA PIPELINE SUITS 'LIFELINE OF HOPE,' DELIVERING JOBS AND SKILLS ACROSS TANZANIA.
The East Africa Pipeline is more than an energy project; it is a source of jobs, skills, and investments. It has the potential to reshape Tanzania’s economic future.
- 4 months, 2 weeks
TECHNIPFMC SCORES WORK ON EXXONMOBIL’S SEVENTH OIL CHAPTER IN GUYANA
TechnipFMC has secured a $250-$500 million subsea contract to support ExxonMobil Guyana’s Hammerhead offshore oil project in the Stabroek block. The work includes project management, engineering, and manufacturing of subsea production systems using TechnipFMC’s Subsea 2.0 technology. Hammerhead, ExxonMobil’s seventh development in the region, is expected to add up to 180,000 barrels per day, increasing Guyana’s total oil production to nearly 1.5 million barrels per day by 2029. MODEC and Saipem are also involved in the project’s FPSO and installation activities.
- 4 months, 2 weeks
PUMA ENERGY DRIVES CLEAN ENERGY WITH NEW CNG STATION.
Puma Energy has launched a new hybrid Compressed Natural Gas (CNG) station at Tangi Bovu, raising Dar es Salaam’s total to 12 and reinforcing Tanzania’s shift toward cleaner fuels. The facility, built to world-class standards, can serve up to 50 vehicles per hour and marks a major step in reducing carbon emissions while enhancing energy infrastructure.
- 4 months, 2 weeks
PURA INVITES CHEVRON TO INVEST IN TANZANIA’S PETROLEUM SECTOR.
PURA has invited Chevron Corporation to invest in Tanzania’s upstream petroleum sector, highlighting opportunities in unexplored sedimentary basins and upcoming licensing rounds. Chevron expressed strong interest, noting Tanzania’s existing gas fields and infrastructure make it an attractive investment destination.
- 4 months, 2 weeks
OIL LITTLE CHANGED AS LOWER US STOCKPILES OFFSET DEMAND WORRIES.
Oil prices held largely steady on Wednesday, supported by tighter U.S. crude stockpiles and ongoing supply disruptions, though gains were capped by uncertainty over U.S. interest rate policy. Brent hovered near $67 a barrel while U.S. crude futures edged slightly higher, as markets weighed fresh inventory data, stalled Kurdish exports, and reduced Venezuelan shipments against broader economic headwinds. Analysts suggest prices may remain range-bound in the near term as supply concerns clash with demand-side risks.
- 4 months, 3 weeks
UGANDA’S FOREIGN DEPLOYMENTS STIR QUESTIONS OVER COSTS AND OIL INTERESTS
Uganda’s vast foreign troop deployments, costing taxpayers up to $1 million a day, are raising questions over hidden budgets, casualties, and unclear missions. Analysts argue the operations are aimed at safeguarding Uganda’s $20 billion oil infrastructure and future revenues, making the ventures as much economic as security-driven.
- 4 months, 3 weeks
UGANDA TO DRIVE AFRICA’S OIL STORAGE GROWTH WITH MAJOR PROJECTS BY 2030.
Uganda is projected to lead Africa’s oil storage growth by 2030, driven by major projects like the $5 billion EACOP and the Hoima refinery. With expanded storage capacity, the country aims to secure up to $2.5 billion in annual revenues and rival regional oil hubs in Kenya and Tanzania.
- 4 months, 3 weeks
OIL PRICES CLIMB ON GEOPOLITICAL TENSIONS IN EUROPE AND THE MIDDLE EAST
Oil prices rose at the start of the week amid rising geopolitical tensions in Europe and the Middle East. Brent crude reached $67.15 a barrel and WTI climbed to $63.10, driven by concerns over Russian military activity near NATO borders and increased Ukrainian attacks on Russian refineries. Tensions in the Middle East also flared as several Western nations recognized Palestine, prompting backlash from Israel and the U.S. However, rising oil exports from Iraq and concerns of oversupply tempered gains, while China’s ongoing stockpiling helped support prices.
- 4 months, 3 weeks
EU TARGETS RUSSIAN LNG WITH EARLY BAN AS MOSCOW SHIFTS EXPORTS BETWEEN EUROPE AND ASIA.
The European Commission is preparing to propose a ban on Russian liquefied natural gas (LNG) imports by January 1, 2027, one year earlier than initially planned, as part of its upcoming 19th sanctions package against Moscow. The move comes as Russia continues to balance its LNG flows between Europe and Asia, with exports totaling 18.8 million metric tons in the first eight months of 2025. Of that, 9.5 million tons were shipped to Asia and 9.2 million tons to Europe, underscoring how Moscow has managed to sustain sales despite sanctions pressure. France remains the largest European buyer, while China leads in Asia, reflecting both the resilience and the vulnerability of Russia’s LNG export model as geopolitical tensions rise.
- 4 months, 3 weeks
ROTARY ENGINEERING DRIVES SUSTAINABLE ENERGY INFRASTRUCTURE GROWTH
Rotary Engineering is strengthening its leadership in energy infrastructure with over $1 billion in projects across the Middle East. With 53 years of EPC and maintenance expertise, the company is delivering key infrastructure for oil, gas, petrochemicals, and transitional fuels like ammonia, hydrogen, and SAF. Major projects include storage and transfer systems at ADNOC’s TA’ZIZ Chemical Park in the UAE and fuel facilities for QatarEnergy. With a strong focus on safety, innovation, and sustainability, Rotary is also expanding its maintenance and turnaround services while advancing cleaner energy solutions in the region.
- 4 months, 3 weeks
AFRICA LAUNCHES NEW FORUM TO ATTRACT INVESTMENT IN OIL SECTOR
sixteen African countries signed the AFRIPERF Charter on September 18, 2025, during Africa Oil Week in Accra. Led by Nigeria, the African Petroleum Regulators Forum (AFRIPERF) aims to harmonize regulations, boost transparency, and attract investment in the oil and gas sector. The initiative comes amid declining oil investments, delayed projects, and reduced global funding for fossil fuels. With energy poverty still widespread across the continent, AFRIPERF seeks to strengthen cooperation and ensure Africa’s resources support development and energy security.
- 4 months, 3 weeks
IEA HIGHLIGHTS RISING OIL AND GAS FIELD DECLINE RATES
The IEA warns that rising oil and gas field decline rates make supply as crucial as demand for the future energy market. Since 2019, most investment has aimed to offset declines, not boost growth. Without continued investment, production could fall sharply. Developing new fields takes time, so understanding decline rates is key. Meeting future demand and climate goals requires sustained investment and strong policies.
- 4 months, 4 weeks
GAS PRICES STEADY, BUT DIESEL PRICES EXPECTED TO RISE.
Oil prices are staying stable as increased OPEC production is being balanced by strong global demand. Patrick DeHaan from GasBuddy says prices will likely remain around $60 per barrel. Gasoline prices are expected to drop soon due to higher supply and the switch to cheaper winter fuel blends. However, diesel prices may rise with increased demand during harvest season and colder weather, which boosts heating oil use.
- 5 months
TANZANIA TARGETS 80% CLEAN COOKING ENERGY USE BY 2034.
Tanzania has increased the use of clean cooking energy from 6.9% in 2021 to 20.3% in 2025, with a goal of reaching 80% within the next nine years. The government, under President Samia Suluhu Hassan, has launched a national strategy to save lives, protect the environment, and ensure affordable access to clean cooking energy.
- 5 months
AUSTRALIA APPROVES NORTH WEST SHELF GAS PLANT EXTENSION UNTIL 2070 AMID CLIMATE BACKLASH.
Australia has given final approval for Woodside’s Northwest Shelf liquefied natural gas (LNG) facility the country’s oldest and second largest to continue operating until 2070. The landmark decision follows a prolonged seven-year approval process marked by lawsuits, protests from environmental groups, and debates over Indigenous heritage preservation. While the extension secures Australia’s standing as a top LNG exporter and reassures strategic allies like Japan, critics have labeled the plant a “carbon bomb” that threatens to undermine climate targets and risk permanent damage to 50,000-year-old Murujuga rock art. The approval comes with 48 stringent environmental conditions, including steep emission reductions, but opposition remains fierce as the project raises questions over Australia’s balancing act between economic security and climate responsibility.
- 5 months
NATURAL GAS AND OIL FORECAST: MIDDLE EAST TENSIONS AND TARIFF THREATS STIR MARKETS
Natural gas hovers near $3.11, supported by the 50-EMA, with potential to rise toward $3.28 if resistance at $3.08 clears. WTI and Brent crude oil remain bullish above key support zones, eyeing $64.25 and $68.42 respectively. Market sentiment is driven by OPEC+ actions, geopolitical tensions, and U.S. inventory data.
- 5 months
TANZANIA, ALGERIA REGULATORS SEEK STRONGER COOPERATION IN OIL AND GAS.
The Petroleum Upstream Regulatory Authority (PURA) of Tanzania and Algeria’s Hydrocarbon Regulatory Authority (ARH) have agreed to strengthen cooperation through knowledge and experience sharing in oil and gas regulation. The partnership aims to enhance efficiency in managing technical aspects of petroleum projects and ensure sustainable sector growth in both countries.
- 5 months
TANZANIA SEEKS STRONGER ENERGY TIES WITH ALGERIA’S SONATRACH.
Tanzania is strengthening energy ties with Algeria’s Sonatrach, focusing on training, knowledge transfer, and investment opportunities in its oil and gas sector. Sonatrach reaffirmed its commitment to support Tanzania in skills development and joint cooperation to unlock the country’s energy potential.
- 5 months
OIL PRICE RISES ON MIDDLE EAST TENSIONS, TRUMP’S TARIFFS PUSH OVER RUSSIAN SUPPLY.
Oil prices rose after Israel’s strike in Qatar and Trump’s tariff push on Russian oil buyers, but gains were capped by weak global demand. Analysts warn that despite geopolitical tensions, rising inventories and OPEC+ output could keep oil markets under pressure.
- 5 months
US TARIFFS WORSEN PETROCHEMICAL SECTOR CHALLENGES, EXECUTIVES WARN.
The global petrochemical sector is facing mounting turbulence as U.S. tariffs intensify pressure on trade flows, amplify overcapacity concerns, and force key players to rethink strategies. At the APPEC conference in Singapore, executives warned that the world’s largest producer, China, is being pushed to divert exports into Asia, disrupting traditional markets and reshaping industry dynamics. While some regions, like India, continue to show steady demand, the overall outlook remains clouded by shrinking trade volumes, investment uncertainty, and the spread of protectionist policies. This evolving environment threatens to alter not just business models but also the balance of power in global energy and manufacturing supply chains.
- 5 months, 1 week
TANZANIA AND ALGERIA STRENGTHEN TIES IN OIL AND GAS REGULATION.
Tanzania’s PURA and Algeria’s ALNAFT have agreed to strengthen cooperation in regulating oil and gas exploration and production. The partnership will focus on capacity building, experience sharing, and improving efficiency in petroleum sector oversight.
- 5 months, 1 week
CHINA–RUSSIA PIPELINE DIPLOMACY THREATENS TRUMP’S ENERGY GRIP.
China and Russia have deepened their energy partnership in Beijing this week, unveiling plans to expand gas flows through existing infrastructure and signing a memorandum for the long-delayed Power of Siberia 2 pipeline. The moves come at a time when U.S. President Donald Trump is pressing to isolate Moscow and strengthen America’s role as a global energy powerhouse. For Beijing, the deal signals both a pragmatic approach to diversifying energy sources and a political willingness to resist U.S. pressure.
- 5 months, 1 week
TANZANIA SLASHES FUEL PRICES TO BELOW KSH 145 PER LITRE AS KENYANS CONTINUE TO PAY MORE.
Tanzania has lowered fuel prices to below KSh 145 per litre, making petrol, diesel, and kerosene significantly cheaper than in Kenya. Meanwhile, Kenyan motorists continue to pay over KSh 185 per litre for petrol, despite recent marginal reductions by EPRA.
- 5 months, 1 week
RISING NUMBER OF CNG STATIONS BOOSTS EFFICIENCY, CUTS QUEUES.
The rising number of CNG stations in Tanzania is easing congestion, cutting queues, and lowering fuel costs, with over 15,000 vehicles now powered by natural gas, up from just 3,100 in 2023. The government says this expansion aligns with its green economy goals, boosting efficiency, environmental sustainability, and new business opportunities.
- 5 months, 1 week
TANZANIA LOOKS TO COMPRESSED NATURAL GAS TO EASE DEPENDENCE ON COSTLY OIL.
Tanzania is pushing compressed natural gas (CNG) as a cheaper and cleaner alternative to gasoline, with new fueling stations planned by private investors like Puma Energy and BQ Construction. The government says CNG could cut energy costs by up to 58%, strengthen energy security, and reduce dependence on costly oil imports.
- 5 months, 2 weeks
OIL RISES AS UKRAINE WAR STOKES SUPPLY WORRIES, MARKET EYES PROSPECTS OF FED EASING.
Oil prices climbed on Tuesday, buoyed by escalating tensions in the Russia–Ukraine war that threaten to choke global supply chains, while investors weighed the possibility of fresh monetary easing in the United States. Brent crude hovered near $69 a barrel and WTI above $65, extending last week’s gains as markets absorbed news of Ukrainian drone strikes that shut down major Russian refining facilities, disrupting as much as 17% of Moscow’s processing capacity. At the same time, anticipation of U.S. labor data later this week has heightened expectations that the Federal Reserve could move toward interest-rate cuts in September, raising hopes for stronger demand. With supply shocks colliding with shifting economic signals, oil markets are navigating a highly volatile landscape where short-term price gains may mask deeper risks of oversupply and fragile demand growth.
- 5 months, 2 weeks
EAST AFRICA PIPELINE MOVES CLOSER TO COMPLETION.
The East Africa Crude Oil Pipeline (EACOP) is now 64.5% complete and will soon become the world’s longest heated oil pipeline, transporting crude from Uganda through Tanzania to international markets. TotalEnergies and its partners plan to start exports at 216,000 barrels per day, later increasing to 246,000 barrels per day.
- 5 months, 2 weeks
CHINA SEEKS MORE RUSSIAN GAS VIA EXISTING PIPELINE AS NEW PROJECT STALLS.
China is exploring the possibility of ramping up natural gas imports from Russia through the existing Power of Siberia 1 pipeline, even as negotiations stall over the multibillion-dollar Power of Siberia 2 project. With energy cooperation high on the agenda ahead of Vladimir Putin’s upcoming meeting with Xi Jinping, the move underscores how Moscow is seeking to offset the collapse of European markets, while Beijing balances its growing domestic production and renewable energy expansion against geopolitical risks. The talks highlight the shifting dynamics of global energy flows as Russia turns further toward Asia amid Western sanctions.
- 5 months, 2 weeks
IRAQ REPORTS PROGRESS IN BORDER OILFIELD DISPUTE WITH KUWAIT.
Iraq and Kuwait have made significant progress in their long-standing negotiations over the shared production of border oilfields, according to Iraqi Oil Minister Hayan Abdul Ghani.
- 5 months, 2 weeks
ADNOC SIGNS 15-YEAR LNG SUPPLY DEAL WITH INDIANOIL.
Abu Dhabi National Oil Company (Adnoc) has signed a 15-year agreement to supply liquefied natural gas (LNG) to Indian Oil Corporation (IndianOil), one of India’s largest energy firms.
- 5 months, 2 weeks
CNOOC INTERNATIONAL NEARS PRODUCTION AT KINGFISHER PROJECT IN UGANDA.
CNOOC International has completed enough development wells at its Kingfisher project on Lake Albert, Uganda, allowing the field to begin production. The oil will be exported via the East African Crude Oil Pipeline (EACOP) to Tanga, Tanzania, and some will supply Uganda’s first refinery, which is still behind schedule.
- 5 months, 2 weeks
MEET THE SPONSOR: NOV JOINS OIL & GAS SAUDI AWARDS AS SUPPORTING PARTNER.
NOV joins the Oil & Gas Saudi Awards 2025 as a Supporting Partner, bringing 150 years of innovation to drive efficiency, safety, and sustainability.
- 5 months, 3 weeks
AMINEX SEES BRIGHT FUTURE IN TANZANIA AFTER YEARS OF STRUGGLE.
Aminex is set for a major revival in Tanzania, with first gas production from the Ntorya project expected in 2026 after years of financial struggle. The company’s turnaround marks a fresh boost for Tanzania’s natural gas sector and future investment opportunities.
- 5 months, 3 weeks
OIL HOLDS STEADY AS SUPPLY RISKS AND FED POLICY DRIVE TRADING.
Oil prices steadied after last week’s rally as traders weighed supply risks against the broader economic outlook, with Brent holding near $68 a barrel and WTI above $63, supported by hopes of looser U.S. monetary policy after the Federal Reserve signaled potential rate cuts. While the Fed’s dovish tone has buoyed risk assets and fueled optimism for stronger global demand, geopolitical friction remains at the forefront, with Washington threatening to double tariffs on all Indian imports to 50% in response to New Delhi’s continued reliance on discounted Russian crude—an escalation that could ripple through global trade and energy markets. At the same time, uncertainty lingers over OPEC+ output, Russian export resilience, and faltering peace efforts in Ukraine, where U.S. President Donald Trump has oscillated between promises of “massive sanctions” on Moscow and suggestions that Washington may ultimately hold back, leaving markets to navigate a delicate balance between short-term boosts from economic stimulus and longer-term headwinds tied to geopolitics and oversupply fears.
- 5 months, 3 weeks
OMAN TO AWARD FOUR OIL AND GAS BLOCKS NEXT YEAR.
Oman is reportedly planning to award the exploration and development rights to four oil and gas blocks by early next year.
- 5 months, 3 weeks
TANZANIA UNVEILS STRATEGIC PROJECTS TO GAIN FROM THE EACOP PROJECT.
Tanzania is implementing seven major energy projects, including the East African Crude Oil Pipeline (EACOP), the Julius Nyerere Hydropower Project, and the Liquefied Natural Gas (LNG) project, to boost power generation and economic growth. The government has invested over 1.12 trillion shillings in EACOP, with more than 200 local companies benefiting from contracts worth 1.325 trillion shillings.
- 5 months, 3 weeks
OIL SLIPS AS MARKETS WEIGH PROSPECT OF RUSSIA-UKRAINE PEACE TALKS.
Oil prices slipped on Tuesday as markets weighed the possibility of U.S.-brokered peace talks between Moscow, Kyiv, and Washington, a move that could reshape global energy flows and ease geopolitical tensions. Brent crude fell 0.5% to $66.28 a barrel while U.S. West Texas Intermediate futures dropped to $63.10, reversing part of the previous session’s gains. Traders see any breakthrough toward peace potentially leading to a rollback of sanctions on Russian crude, reducing supply risks and pulling prices lower. Analysts noted that U.S. President Donald Trump’s softened stance on secondary sanctions against Russian oil importers signals a temporary easing of geopolitical risks, though concerns remain that Kyiv could be pressured into an unfavorable settlement. With India already hit by new U.S. tariffs over its Russian oil purchases and Europe cautious about concessions to Moscow, the stakes stretch far beyond the oil market linking business, the global economy, and geopolitics in a high-stakes test of energy security and diplomatic leverage.
- 5 months, 3 weeks
TRUMP’S FOCUS ON LOW OIL PRICE PLAYS INTO OPEC’S HANDS.
Even as complaints from the US shale industry grow louder about low oil prices undercutting production, President Donald Trump seems committed to keeping crude as cheap as possible.
- 5 months, 3 weeks
IRAQ SIGNS DEAL WITH CHEVRON TO RAISE OIL OUTPUT.
Iraq’s oil ministry has signed an agreement with US oil major Chevron for the development of the Nassiriya oil field, comprising four exploration blocks.
- 5 months, 3 weeks
AFTER WASHINGTON DRAMA, OIL TRADERS PONDER ‘PEACE SHOCK’.
If you were manning the late desk at one of the big oil trading firms in Singapore, Dubai or Geneva, you would not have spent Monday night pondering President Zelensky’s attire nor the first lady’s pleas on behalf of Ukrainian children.
- 5 months, 4 weeks
HONEYWELL ADVISES ON EXPANSION OF LIBYA’S LARGEST OIL REFINERY.
US company Honeywell UOP has prepared a feasibility study on the expansion of Libya’s largest oil refinery as part of overall development of the country’s hydrocarbon industry.
- 5 months, 4 weeks
TANZANIA LEADS AFRICA’S CLEAN COOKING REVOLUTION IN CLIMATE PUSH
Tanzania is cementing its leadership in Africa’s climate diplomacy by prioritising clean cooking energy, with a goal of ensuring 80% of households adopt it by 2030. The country is also steering the institutionalisation of the African Group of Negotiators within the African Union to strengthen Africa’s voice in global climate talks ahead of COP30.
- 5 months, 4 weeks
CHINA REFINES RUSSIAN OIL, SELLS TO GLOBAL MARKET; EUROPE CAN DO MORE ON SANCTIONS: RUBIO.
U.S. Secretary of State Marco Rubio has raised concerns over China's role in refining Russian oil and reselling it into the global market, including back to Europe.
- 5 months, 4 weeks
GOVERNMENT AND ORYX GAS STEP UP DRIVE FOR CLEAN COOKING ENERGY
The government and Oryx Gas have partnered to accelerate the adoption of clean cooking energy solutions across Kenya. The initiative aims to reduce reliance on charcoal and firewood, improving health outcomes and protecting the environment.
- 6 months
EPRA CUTS PETROL AND KEROSENE PRICES BY KSH 1, DIESEL UNCHANGED — KENYANS CALL IT “MCHEZO YA TOWN.
EPRA has reduced petrol and kerosene prices by KSh 1 per litre, while keeping diesel prices unchanged for the next 30 days. Many Kenyans online dismissed the drop as too small to ease the high cost of living, calling it “Mchezo ya Town.”
- 6 months
ARAMCO SIGNS $11BN GAS DEAL WITH BLACKROCK-LED GROUP.
Saudi Aramco has signed an $11 billion lease and leaseback deal involving its Jafurah gas processing facilities with a consortium led by Global Infrastructure Partners (GIP), part of BlackRock.
- 6 months
CHINESE REFINER DOUBLES CRUDE OFFTAKE FROM UAE.
China’s Zhenhua Oil is set to double its oil offtake from Abu Dhabi National Oil Company (Adnoc) to 200,000 barrels per day (bpd) after taking on a new role leading development of one of the exporter’s top oilfields, three Chinese industry sources said.
- 6 months
AS SUMMER DEMAND ENDS, OIL MARKET SHIFTS TO OVERSUPPLY.
Discover the standout companies, projects, and leaders named as finalists for the Oil & Gas Awards: Saudi Arabia 2025, celebrating innovation and excellence in the Kingdom’s energy sector.
- 6 months
SHORTLIST ANNOUNCED FOR OIL & GAS SAUDI AWARDS
Discover the standout companies, projects, and leaders named as finalists for the Oil & Gas Awards: Saudi Arabia 2025, celebrating innovation and excellence in the Kingdom’s energy sector.
- 6 months
EXPORTS OF OIL PRODUCTS BY INDIA’S PRIVATE REFINERS UNDER U.S. PRESSURE AND GLOBAL SCRUTINY.
India’s private refiners are once again in the crosshairs of global energy politics. Following fresh European Union sanctions and heightened U.S. pressure over crude purchases from Russia, the world’s most populous nation faces a balancing act between lucrative fuel exports and mounting geopolitical risks. As private giants Reliance Industries and Nayara Energy continue to ship millions of tons of refined products abroad, questions are growing over how long India can maintain this trade without facing further restrictions or retaliatory tariffs from the West.
- 6 months
OIL PRICES SEEN SLIPPING BELOW $60 BY YEAR-END, EIA WARNS.
After the U.S. Energy Information Administration (EIA) predicted that Brent crude could average below $60 a barrel in the fourth quarter, a level last observed during the pandemic’s early shock in 2020, global crude prices are once again under pressure to decline.
- 6 months
IRAQ AND SYRIA EXPLORE REVIVAL OF BANIAS CRUDE PIPELINE .
Iraq and Syria have agreed to explore the revival of the Banias pipeline to export Iraqi crude through Syrian and Lebanese territories.
- 6 months
OCTANT ENERGY ADVANCES DRILLING PLANS IN TANGA, PROMOTES LOCAL PARTICIPATION.
Octant Energy Tanga Limited has identified eight potential drilling sites in the Tanga Block following successful seismic data analysis and is now assessing local service providers to support the project. PURA praised Octant for prioritizing Tanzanian participation in line with the 2015 Petroleum Act and pledged continued support for the initiative.
- 6 months
STRENGTHENING THE LINK BETWEEN NATURAL GAS AND AGRICULTURE FOR TANZANIA’S ECONOMIC GROWTH.
The natural gas and agriculture sectors are closely linked, and stronger collaboration between them can significantly boost Tanzania’s economy. PURA is actively working with partners to ensure high-quality agricultural products meet the standards needed by energy companies, supporting both sectors’ growth.
- 6 months
OIL PRICES CLIMB AS U.S. - CHINA TARIFF TRUCE EXTENSION LIFTS TRADE HOPES.
Oil markets gained momentum after the United States extended its tariff truce with China, easing fears of a deepening trade war between the world’s two largest economies. With the pause now pushed to November 10, markets are increasingly hopeful that a broader trade agreement could be within reach, potentially averting economic disruptions that would impact global fuel demand. The move comes at a crucial time, as U.S. retailers prepare for the peak holiday shopping season. Alongside growing expectations of a U.S. interest rate cut in September and cautious optimism around a pending Trump-Putin meeting over the Ukraine conflict, oil traders are weighing a complex mix of economic and geopolitical signals. But for now, the détente between Washington and Beijing is offering some welcome stability to a market long rattled by uncertainty.
- 6 months
MUBADALA ENTERS US GAS MARKET.
Mubadala Energy has taken a 24.1% stake in US-based Caturus, marking its first major entry into the American energy sector.
- 6 months
SEWA COMPLETES FUJAIRAH GAS PIPELINE RELOCATION.
Sharjah Electricity, Water and Gas Authority (SEWA) has completed the relocation and adjustment of a strategic gas pipeline in the emirate of Fujairah, under the supervision of the Kalba Department, following the highest safety and quality standards.
- 6 months
SAUDI ARABIA RAISES OIL PRICES TO ASIA FOR SECOND MONTH.
Saudi Arabia, the world’s biggest oil exporter, has increased its September crude oil prices for Asian buyers, the second monthly rise in a row, on tight supply and robust demand.
- 6 months, 1 week
ADNOC GAS ANTICIPATES DATA CENTRE REVENUE AS PROFIT SOARS..
Adnoc Gas is preparing to supply a new wave of energy-hungry data centres in the UAE – a potential growth driver as gas demand rises in parallel with the region’s AI infrastructure buildout.
- 6 months, 1 week
TRUMP THREATENS CHINA WITH TARIFFS OVER RUSSIAN OIL IMPORTS, RAISING GLOBAL TRADE AND ENERGY TENSIONS.
U.S. President Donald Trump has intensified his administration’s pressure campaign against countries purchasing Russian oil, now warning that China could be next in line for punitive tariffs. Following the imposition of two rounds of 25% tariffs on Indian goods due to its continued imports of discounted Russian crude, Trump’s latest remarks suggest a significant expansion of secondary sanctions with potentially sweeping implications for global trade, energy markets, and U.S.-China relations. The move underscores the administration’s resolve to isolate Moscow economically and signals to international energy importers that doing business with Russia may come at a steep cost. If implemented, tariffs on China Russia’s top energy customer could disrupt global oil flows, heighten inflationary pressures, and trigger retaliation that reverberates through global supply chains and financial markets.
- 6 months, 1 week
RELIEF FOR LAKE GAS AS KEBS CLEARS COOKING GAS CARGO IN MAJOR SAFETY BREAKTHROUGH.
Lake Gas has been cleared by Kenya’s standards agency to distribute over 11,000 tonnes of cooking gas after fixing a safety issue related to low odorant levels. This resolution restores confidence in regulatory enforcement while boosting competition in Kenya’s LPG market.
- 6 months, 1 week
ARAMCO POSTED AN ADJUSTED NET INCOME OF $24.5 BILLION IN Q2 2025, DRIVEN BY STRONG GLOBAL DEMAND AND ONGOING PROJECT MOMENTUM.
Aramco reported $24.5 billion in Q2 profit and $50.9 billion for the first half of 2025, driven by strong market fundamentals, project momentum, and operational reliability.
- 6 months, 1 week
INTERNATIONAL ALLIANCES PROPEL AFRICA’S NATURAL GAS INDUSTRY FORWARD.
North Africa is rapidly becoming a natural gas hub, with major developments in Libya, Algeria, Egypt, and Morocco. As the world shifts towards cleaner energy sources, Africa’s natural gas is emerging as a key component of the energy transition, thanks in part to international partnerships.
- 6 months, 1 week
RISING REVENUES AT OMAN’S OQGN INCREASE PROFITS.
Net profit at state-controlled OQ Gas Networks (OQGN), the pipeline subsidiary of Oman energy major OQ, increased by 13 percent in the first six months of 2025, buoyed by higher revenues.
- 6 months, 1 week
OIL SLIPS AS OPEC+ PROCEEDS WITH SEPTEMBER OUTPUT HIKE .
Oil prices slipped on Monday after OPEC+ confirmed a substantial production hike for September, signaling confidence in market resilience, yet concerns over potential disruptions to Russian oil exports to India kept losses in check. The 547,000 barrels per day output increase, part of OPEC+'s accelerated strategy to reclaim global market share, comes at a time when geopolitical tensions and economic uncertainties are intensifying. With the U.S. threatening secondary sanctions on countries importing Russian crude, trade flows are already shifting, forcing key buyers like India into the geopolitical crossfire. Meanwhile, global markets remain wary as fresh U.S. tariffs loom, stoking fears of a broader economic slowdown that could dampen fuel demand. Despite these headwinds, OPEC+ appears poised to leverage its supply flexibility, carefully navigating between maximizing revenues and preventing market oversupply. As trade negotiations, sanctions enforcement, and energy diplomacy converge, the oil market faces a volatile period ahead, where geopolitical maneuvers could swiftly reshape supply-demand dynamics.
- 6 months, 2 weeks
ADNOC GAS STRIKES 10‑YEAR LNG DEAL WITH INDIA’S HPCL.
ADNOC Gas plc (ADX: ADNOCGAS), the Abu Dhabi‑listed gas and LNG arm of ADNOC, today announced it has signed a 10‑year Heads of Agreement with India’s state‑backed Hindustan Petroleum Corporation Limited (HPCL) to supply 0.5 million metric tonnes per annum (mmtpa) of liquefied natural gas (LNG) to HPCL.
- 6 months, 2 weeks
EGYPT PARTNERS WITH ENI'S IEOC, BP TO EXPAND EXPLORATION ACTIVITIES IN MEDITERRANEAN SEA.
Minister of Petroleum Karim Badawi emphasized that this agreement falls within the framework of the ministry’s first axis strategy.
- 6 months, 2 weeks
KUWAIT’S STATE OIL OPERATOR REPORTS LOWER PROFIT.
Kuwait’s state oil operator, Kuwait Petroleum Corporation (KPC), reported a 6.5 percent decline in net profit for the 2024-2025 fiscal year, primarily due to a drop in global petroleum prices.
- 6 months, 2 weeks
KENYAN COURT CLEARS ROSTAM AZIZ’S $130 MILLION GAS PLANT PROJECT.
A Kenyan court has dismissed a case blocking the $130 million LPG terminal by Taifa Gas, clearing the way for Tanzanian billionaire Rostam Aziz’s regional energy expansion. The project is expected to lower gas prices and challenge existing market dominance in Kenya's LPG sector.
- 6 months, 2 weeks
U.S. OIL SUPPLY SECURED AS BRAZILIAN CRUDE SHIPMENTS TO RESUME AFTER TARIFF EXEMPTION.
The United States has narrowly averted a potential energy supply disruption as Brazilian crude oil shipments are set to resume following a crucial tariff exemption announced this week. After weeks of uncertainty that saw Brazilian oil companies halt exports to the U.S., the Biden administration’s decision to exclude energy products from its new 50% tariff hike has reassured American refiners and stabilized a key supply route. Brazil is a top supplier of heavy crude oil to the U.S. Gulf Coast, and the temporary suspension had raised concerns over rising fuel costs and strained refinery operations at a time when global markets are already grappling with geopolitical tensions. Industry stakeholders hailed the move as a pragmatic step to protect U.S. energy interests, maintain competitive fuel pricing, and uphold strategic trade relations with Brazil amid a broader, increasingly tense trade landscape. However, the episode underscores the fragile balance in global energy diplomacy, where policy shifts can quickly ripple into supply chains, market prices, and geopolitical alignments.
- 6 months, 2 weeks
TUNISIA SWITCHES FROM HEAVY FUEL OIL TO NATURAL GAS IN INDUSTRIAL ZONES, BOOSTING EFFICIENCY AND CUTTING EMISSIONS .
Northwestern Tunisia is undergoing a quiet yet impactful energy transformation, as the region transitions away from heavy fuel oil and toward natural gas.
- 6 months, 2 weeks
WORLD'S LARGEST INDEPENDENT OIL TRADER GIVES $10.6 BILLION TO ITS EMPLOYEES.
The world’s largest independent oil trader, Dutch company Vitol, made record payments to its top employees and executives last year through share buybacks, according to industry updates from a specialized energy platform.
- 6 months, 2 weeks
OIL PROJECT FACES PRESSURE TO DELIVER FOR LOCALS.
Dr. James Mataragio has urged EACOP to accelerate community service projects and allocate more funds to ensure locals benefit from the oil pipeline development. He emphasized that surrounding communities must see tangible improvements such as access to water, roads, schools, and hospitals.
- 6 months, 2 weeks
KENYA APPROVES PRIVATISATION OF KENYA PIPELINE COMPANY AHEAD OF NSE LISTING.
President William Ruto's Cabinet has approved the partial privatisation of Kenya Pipeline Company (KPC), paving the way for its listing on the Nairobi Securities Exchange (NSE) through an initial public offering. The move aims to attract private capital and expertise to boost KPC’s efficiency, profitability, and market value.
- 6 months, 2 weeks
AUSTRALIA EYES LNG IMPORTS FROM 2027 AS EAST COAST TERMINALS ADVANCE TO ADDRESS SUPPLY SHORTFALLS.
Australia, a global LNG export powerhouse, is paradoxically preparing to import liquefied natural gas (LNG) from 2027 to bridge potential domestic supply gaps along its east coast. With four strategic import terminal projects underway, Australia aims to tackle looming shortages driven by structural production declines and rising energy demand. These developments are not just an industrial response but a crucial economic pivot, ensuring energy security for key population centers while maintaining market stability in a region heavily reliant on affordable gas for manufacturing and household consumption. The move reflects the complex dynamics of Australia’s energy market, where geopolitical shifts, export commitments, and domestic policy intersections are pushing the nation toward rebalancing its internal gas ecosystem through import infrastructure.
- 6 months, 2 weeks
SAUDI ARAMCO AWARDS 4 CONTRACTS TO EXPAND THE WORLD'S THIRD LARGEST OIL FIELD.
Saudi Aramco has recently awarded four major contracts worth approximately $5 billion for the expansion of the Zuluf offshore field, the world’s third-largest oil field.
- 6 months, 2 weeks
UGANDA’S PETROLEUM DEVELOPMENT ‘NOT A LOCAL GOVERNMENT THING’
Uganda’s local governments are being sidelined in petroleum development despite policy mandates for their involvement, as no budget allocation has been made to support their participation. Without integrating petroleum activities into district programs, local engagement remains minimal, risking the long-term sustainability and community ownership of oil and gas projects.
- 6 months, 2 weeks
EACOP PROJECT 65% COMPLETE AS TANZANIA REAPS JOBS AND REVENUE GAINS.
The EACOP project has reached 65% completion, with full funding secured and over 9,000 local jobs created—75% of which have benefited Tanzanians. The pipeline is expected to be completed by July 2026 and will significantly boost government revenue and industrial growth.
- 6 months, 2 weeks
OPEC: LPG IS KEY TO DELIVERING CLEAN COOKING FOR 2.1 BILLION PEOPLE .
OPEC Secretary General Haitham Al Ghais highlights the urgent need to expand access to clean cooking fuels, emphasising the critical role of LPG in improving health, reducing emissions, and achieving sustainable development goals.
- 6 months, 2 weeks
NORWAY’S JUNE OIL AND GAS PRODUCTION BEATS EXPECTATIONS, STRENGTHENING EUROPE’S ENERGY SECURITY AMID SUPPLY CHALLENGES.
Norway’s energy sector delivered a crucial boost to Europe’s fragile energy landscape as the country’s oil and gas production for June outperformed expectations, despite modest declines compared to last year. With gas output averaging 292.3 million cubic meters per day and crude oil at 1.68 million barrels per day, Norway has once again proven itself as Europe’s most reliable energy partner. These figures not only support Norway’s own economic resilience by securing vital export revenues but also play a strategic geopolitical role in reducing the continent’s dependency on Russian energy. As the EU accelerates its diversification away from Russian gas, Norway’s consistent output reinforces its position as a key stabilizer in global energy markets, offering both security of supply and fiscal strength amid an era of heightened uncertainty.
- 6 months, 3 weeks
KENYA TO LIST STATE-OWNED PIPELINE FIRM KPC ON NSE BEFORE SEPTEMBER.
Kenya will list its state-owned pipeline firm, Kenya Pipeline Company (KPC), on the Nairobi Securities Exchange before September, President William Ruto announced. The move is part of a broader plan to privatize key state enterprises and attract private investment.
- 6 months, 3 weeks
OPEC’S WORLD OIL OUTLOOK 2050.
OPEC forecasts global oil demand to rise steadily from ~103.7 mb/d in 2024 to about 122.9–123 mb/d by 2050, affirming that there’s no imminent peak in oil consumption.
- 6 months, 3 weeks
TOTAL ENERGIES AIMS TO RESTART MOZAMBIQUE LNG BY END-SEPTEMBER.
TotalEnergies is preparing to restart its $20 billion Mozambique LNG project by the end of September 2025, after years of suspension due to insurgent violence in the Cabo Delgado region.
- 6 months, 3 weeks
AZERBAIJAN IS AT THE HEART OF EURASIAN ENERGY DEVELOPMENT..
Azerbaijan sits at the crossroads of one of the world’s most strategically significant energy regions.
- 6 months, 3 weeks
LIBYA’S NOC SIGNS STRATEGIC COOPERATION AGREEMENT WITH HILL INTERNATIONAL FOR OFFSHORE GAS PROJECTS.
The meeting reviewed NOC’s plan to boost oil output to 2 million barrels per day by 2030, alongside discussions on petrochemicals and economic stability.
- 6 months, 3 weeks
PURA PARTICIPATES IN INSPECTION OF DRILLING RIG AHEAD OF MAJOR GAS PROJECT.
PURA has participated in the inspection of a modern gas drilling rig in China ahead of a major drilling campaign in Mnazi Bay, Mtwara, expected to begin in November 2025. The rig will drill three wells projected to boost Tanzania's gas output by over 30 million standard cubic feet per day.
- 6 months, 3 weeks
KEY AGREEMENT ON $42BN LNG PROJECT IN SIGHT.
Tanzania is finalizing a $42 billion LNG project agreement that will enable major gas development and boost the country’s energy security and economic growth. The deal, supported by President Samia Suluhu Hassan, aims to ensure local benefits, attract investment, and kickstart production by 2025.
- 6 months, 3 weeks
KENYAN MPS BLAME TAXES — NOT IMPORT COSTS — FOR HIGH FUEL PRICES DESPITE CHEAPER DEALS THAN TANZANIA.
Kenya imports fuel at a cheaper price than Tanzania, yet high local taxes and levies make it more expensive at the pump. Lawmakers are calling for a review of the tax structure, which accounts for nearly half of the fuel cost.
- 6 months, 3 weeks
UAE’S DANA GAS ADDS TO EGYPT GAS RESERVES.
Egypt’s natural gas reserves are set to increase following a new gas discovery by UAE-based Dana Gas.
- 6 months, 3 weeks
GLOBAL MARKETS REACT TO MIDDLE EAST TENSIONS AS OIL SURGES.
European stock futures fell and oil prices surged as traders awaited Iran’s response to U.S. airstrikes on its nuclear facilities, Bloomberg reported.
- 6 months, 3 weeks
OIL PRICES STABILISE AS U.S.-JAPAN TRADE DEAL EASES GLOBAL SENTIMENT AMID BROADER TENSIONS.
Oil prices found stability midweek after a three-day slide, helped by a U.S.-Japan trade agreement that momentarily eased global economic tensions. Although Brent and WTI crude both showed minimal movement, the broader outlook remains uncertain with looming geopolitical risks, ongoing trade friction with the EU and China, and fluctuating inventory levels. Market players continue to weigh conflicting signals, from falling U.S. crude stocks to the potential for new sanctions on Russian oil, making the path forward complex and fragile.
- 6 months, 3 weeks
KUWAIT TO START WORK ON NEW GAS FIELD IN EGYPT.
Kufpec Egypt, a subsidiary of Kuwait Foreign Petroleum Exploration Company (Kufpec), and Shell Egypt have announced a final investment decision to develop gas exploration at the Mina West gas field in Egypt.
- 6 months, 3 weeks
SAUDI CRUDE EXPORTS HIT THREE-MONTH HIGH IN MAY.
Saudi Arabia’s crude oil exports in May rose to their highest level in three months, data from the Joint Organizations Data Initiative (Jodi) showed on Monday.
- 6 months, 3 weeks
WHY TURKEY ENDED THE OIL PIPELINE PACT WITH IRAQ.
Turkey’s decision to terminate its 52-year-old oil pipeline agreement with Iraq appears to be driven by growing security concerns and political tensions.
- 6 months, 3 weeks
IEF’S JASSIM ALSHIRAWI TO SPOTLIGHT AFRICA’S OIL FUTURE AT AEW 2025.
Africa’s energy landscape is transforming, with established producers scaling up output and emerging markets pushing frontier exploration.
- 6 months, 3 weeks
ADNOC’S BID FOR SANTOS IS A GLOBAL LNG GAMECHANGER.
Adnoc’s $18.7 billion acquisition bid for Australia’s natural gas and LNG colossus Santos marks a milestone in the evolution of Abu Dhabi’s energy sector.
- 6 months, 3 weeks
LIQUIFIED PETROLEUM GAS CAN BE UGANDA’S BRIDGE TO A CLEANER TOMORROW.
Uganda is positioning liquified petroleum gas (LPG) as a key transitional fuel to reduce reliance on biomass and support its clean energy and climate goals. With domestic LPG production expected to surpass 200,000 tonnes annually, the government is investing in infrastructure and policy reforms to boost adoption across households and industries.
- 6 months, 3 weeks
FIRST E&P, TPDC SIGN DEAL TO DEVELOP OIL BLOCK IN TANZANIA.
First E&P and TPDC have signed a deal to jointly develop the Mnazi Bay North oil block in Tanzania. The agreement marks a significant step towards boosting Tanzania’s energy sector and regional gas potential.
- 6 months, 3 weeks
NORWAY’S VÅR ENERGI STRIKES NEW OIL AND GAS DISCOVERY IN NORWEGIAN SEA.
Norway’s energy sector has received a fresh boost as Vår Energi announces a significant oil and gas discovery at the Vidsyn prospect in the Norwegian Sea. The find, estimated to hold up to 40 million barrels of oil equivalent, strengthens the country’s upstream momentum and opens fresh possibilities for faster field development through existing infrastructure. The discovery could prove pivotal in enhancing supply security, investment returns, and reinforcing Norway’s role as a key energy supplier to Europe.
- 6 months, 3 weeks
NEW FORTRESS ENERGY DEPLOYS SECOND FSRU TO EGYPT.
New Fortress Energy Inc., through one of its subsidiaries, has signed a five-year agreement with the Egyptian Natural Gas Holding Company (EGAS) for the deployment of the Energos Winter, a 138,250 m³ floating storage and regasification unit (FSRU).
- 7 months
BLACKROCK-LED GROUP TO INVEST $10BN IN ARAMCO GAS PROJECT.
A group led by U.S. asset manager BlackRock is reportedly in talks to invest around $10 billion in infrastructure tied to Saudi Aramco’s $100 billion Jafurah shale gas project.
- 7 months
AMINEX ANNOUNCES MAJOR MILESTONE IN NTORYA GAS PROJECT IN TANZANIA.
Aminex has announced that construction of the pipeline from the Ntorya gas field to Madimba will begin in July 2025 and be completed by July 2026. The project is expected to be a gamechanger for Tanzania’s energy sector, bringing gas to power homes, industry, and reduce dependence on dirty fuels.
- 7 months
TANZANIA GAINS BILLIONS FROM EACOP PROGRESS.
Tanzania has earned over TSh 50 billion from the EACOP project, which is now 64.5% complete with 1,147 km of the pipeline running through the country. The government has already invested TSh 1.3 trillion, creating over 1,200 local jobs, and expects more economic benefits as the USD 5 billion project nears completion.
- 7 months
OIL PRICES CLIMB AMID IRAQI SUPPLY DISRUPTIONS AND STRONG SUMMER DEMAND.
A surge in oil prices continues as drone attacks severely disrupt production in Iraq's semi-autonomous Kurdistan region, halving the area's oil output and heightening global supply concerns. This supply shock comes amid an already tight market supported by strong seasonal demand in the U.S. and Asia, with global oil consumption averaging over 105 million barrels per day this July. Analysts note that despite increased output from OPEC+ members and looming uncertainties around U.S. tariff policies, near-term fundamentals remain bullish—further reinforced by a notable drawdown in U.S. crude inventories and the return of Asian refineries from maintenance. While officials suspect Iran-backed militias behind the attacks, no group has claimed responsibility. As geopolitical risks mount and infrastructure remains vulnerable, investors are bracing for continued price volatility in the oil market through the remainder of the quarter.
- 7 months
GORDON MACKIE JOINS VICI ENERGY TO ENHANCE TRADING AND FINANCE OPERATIONS.
Vici Energy is poised for growth with the appointment of Gordon Mackie as Director of Trading and Finance.
- 7 months
MP NYORO SAYS EXPLANATION ON FUEL PRICE INCREASE MISLEADING, INCOMPLETE.
MP Ndindi Nyoro has slammed the government's fuel price hike explanation, saying high taxes and secretive off-book borrowing—not global prices—are to blame. He’s demanding a public audit and urgent fiscal reforms to protect Kenya’s financial sovereignty.
- 7 months
INDIA MOVES TO SECURE LNG SUPPLY IN STRATEGIC SHIFT TOWARD U.S. ENERGY.
India’s state-owned GAIL is in early talks for a long-term LNG supply deal with the U.S.-backed Alaska LNG project, marking a strategic move to bolster energy security while deepening trade ties with Washington. As New Delhi races to expand natural gas in its energy mix and reduce its carbon footprint, this potential deal could offer both economic leverage and geopolitical alignment, particularly as India seeks to counterbalance its trade surplus with the U.S. The proposed $44 billion Alaska LNG venture long delayed but gaining commercial traction is now courting major Asian buyers like GAIL, Thailand’s PTT, and Japan’s JERA, with a final investment decision expected by year’s end. But with global LNG prices and infrastructure costs still under scrutiny, GAIL’s final commitment will likely hinge on one critical factor: competitive landed cost.
- 7 months
EGYPT SETTLES $1BN DUES TO FOREIGN OIL COMPANIES.
Egypt has paid $1 billion in outstanding dues to foreign oil companies during the first week of July, according to a government official speaking to Asharq Business.
- 7 months
ECONOMIC ACTIVITIES IN MIDDLE EAST TO REMAIN STRONG: OPEC MOMR.
In 2025, demand for major oil products, including petrochemical feedstock, LPG/NGLs and naphtha, is expected to remain robust.
- 7 months
FUEL PRICES IN KENYA COMPARED TO TANZANIA, UGANDA AS EPRA HIKES PUMP COSTS.
Kenya's EPRA raised fuel prices significantly, placing a heavier burden on consumers compared to Tanzania, which recently cut pump prices. Uganda also faced rising costs due to fuel supply delays through Kenya, deepening the region’s reliance on cross-border logistics.
- 7 months
TPDC TO INSTALL SIX MOBILE CNG FILLING STATIONS IN TANZANIA.
TPDC is rolling out six mobile CNG filling stations in Dar es Salaam, Morogoro, and Dodoma to expand access to natural gas for vehicles and support Tanzania's clean energy transition. The project, combined with private sector investments, is expected to significantly boost CNG availability by the end of 2025.
- 7 months
PAKISTAN'S OIL AND GAS SECTOR SEES ACQUISITION.
A local energy company, Mari Energies, has announced a significant acquisition in Pakistan’s oil and gas sector, according to a press release shared by the Washington-based Specialty Energy Platform. The company has reached an agreement with Orient Petroleum to acquire stakes in three oil and gas exploration and production licenses.
- 7 months
KARPOWER COMMISSIONS AFRICA’S FIRST LNG-TO-POWER PLANT.
Karpowership, in partnership with Mitsui O.S.K. Lines under the KARMOL joint venture, has launched Africa’s first LNG-to-power project, marking a significant milestone in the continent’s energy sector.
- 7 months
OPEC PROJECTS ‘VERY STRONG’ THIRD-QUARTER OIL DEMAND.
OPEC, together with its allies in the OPEC+ group, is preparing for a notable increase in oil output as it anticipates “very strong” demand in the third quarter of 2025.
- 7 months
AFRICA’S OIL AND GAS LICENSING SURGE: UNLOCKING ENERGY POTENTIAL.
Africa is poised for a major wave of investment in its oil and gas sectors, driven by a series of licensing rounds scheduled for 2024 and 2025. These initiatives, detailed in the African Energy Chamber’s State of African Energy 2025 Outlook Report.
- 7 months
OIL PRICES RISE AS MARKETS ANTICIPATE TRUMP’S RUSSIA STATEMENT AMID SUPPLY AND DEMAND UNCERTAINTIES.
Oil prices nudged upward on Monday, continuing last week’s gains as markets anticipated key geopolitical developments, especially a forthcoming statement from U.S. President Donald Trump regarding Russia. Traders are weighing the potential impact of fresh U.S. and EU sanctions on Russian oil exports, which could tighten global supplies just as summer demand surges. Meanwhile, Saudi Arabia’s unexpected increase in crude output has added uncertainty to the supply side, raising questions about OPEC+ unity and compliance. China’s strong import numbers signal resilient demand from Asia’s largest economy, but high storage levels may eventually push excess supply into Western markets, softening prices. In the background, global investors are also watching U.S. tariff talks that could influence broader economic momentum and energy consumption trends. This mix of political maneuvering, shifting production strategies, and demand signals from major economies is setting the stage for heightened volatility in oil markets.
- 7 months
EWURA AND PAU INSPECT EACOP INFRASTRUCTURE IN IGUNGA AND NZEGA.
EWURA and PAU conducted a joint inspection of EACOP infrastructure in Igunga and Nzega, confirming that the project is progressing well and in line with international standards. They emphasized strict regulatory oversight to ensure environmental protection and national benefit.
- 7 months
LOCAL PARTICIPATION IN OIL AND GAS SECTOR HITS 85%, PURA REPORTS.
Tanzania has reached 85% local participation in its oil and gas sector, driven by government policies, education investments, and strategic partnerships to empower local professionals. PURA says this shift marks a move toward a sustainable, inclusive energy industry where Tanzanians are central to developing the country’s natural gas resources.
- 7 months, 1 week
EACOP PIPELINE HITS 62% COMPLETION AS UGANDA SETS SIGHTS ON FIRST OIL BY END OF 2026.
The East African Crude Oil Pipeline (EACOP) has reached 62% completion, with Uganda on track to begin oil production by the end of 2026. Key infrastructure like Pump Station One and feeder pipelines are progressing steadily, driven largely by Ugandan engineers and technicians.
- 7 months, 1 week
EQUINOR’S NEW BARRENTS SEA GAS DISCOVERY BOOSTS NORWAY’S ENERGY STRATEGY AND EUROPEAN SUPPLY SECURITY.
Norway's Equinor has announced a significant natural gas discovery in the Skred prospect near the Johan Castberg field in the Barents Sea, marking another step in the country's efforts to bolster its energy exports amid Europe's ongoing energy diversification. According to the Norwegian Offshore Directorate, the estimated recoverable volumes range between 0.3 and 0.5 billion standard cubic meters of gas, equivalent to 1.9–3.1 million barrels of oil. As geopolitical pressures continue to reshape Europe's energy landscape especially following the continent’s pivot away from Russian energy this new find adds to Norway’s strategic positioning as a reliable energy supplier. From a business perspective, the potential tie-in to existing infrastructure at the Johan Castberg field enhances the economic viability of the project, reinforcing Equinor’s and its partners’ commitment to maximizing value from the region. With Equinor owning 46.3% of the permit, alongside Vår Energi and Petoro, the discovery also strengthens collaboration between public and private stakeholders in Norway’s energy sector.
- 7 months, 1 week
TANZANIA’S LNG DREAMS: WILL THE PROJECT FINALLY TAKE OFF?.
Tanzania’s long-awaited LNG project is gaining renewed momentum, with over 57 trillion cubic feet of natural gas reserves offering massive economic and energy potential. Recent government reforms and rising global demand have created a unique window of opportunity for the project to finally take off.
- 7 months, 1 week
TPDC, ENERGETECH SEAL MULTIMILLION-DOLLAR GAS TRANSPORT DEAL.
TPDC has signed a deal with Energetech-Tantel to invest up to $200 million in transporting natural gas via road and rail to Dodoma, Geita, Mwanza, and Kigoma over the next 12 months. The project aims to expand gas access beyond the current four regions and support Tanzania’s transition to a gas-powered economy.
- 7 months, 1 week
TPDC, ZPDC BEGIN NATURAL GAS EXPLORATION IN PEMBA.
TPDC and ZPDC have begun preliminary natural gas exploration in Pemba to boost clean energy access and reduce environmental degradation. If gas reserves are confirmed, the project will move to development, contributing to Tanzania’s broader energy goals.
- 7 months, 1 week
TANZANIA’S CLEAN ENERGY TRANSITION RELIES ON OVER $1 BILLION LPG.
Tanzania needs over $1 billion in investment over the next decade to develop its LPG sector and fast-track the transition to clean energy. Stakeholders say this would unlock major economic, environmental, and social benefits for the country.
- 7 months, 1 week
CHINA BOOSTS FUEL OIL TAX REBATES TO SUPPORT STRUGGLING INDEPENDENT REFINERIES.
In a strategic policy shift blending economic, geopolitical, and business considerations, China's Shandong province has raised fuel oil import tax rebates for six independent refineries in a bid to bolster profitability amid declining margins and weak fuel demand. This move, aimed at revitalizing the struggling teapot refiners, reflects China's broader attempt to stabilize its industrial base while navigating the pressures of global energy volatility and domestic consumption challenges. As global oil prices fluctuate and China maintains tight crude import quotas, allowing higher rebates on imported fuel oil offers a lifeline to local refineries like Chambroad and Lihuayi. The decision also signals Beijing's cautious balancing act between protecting its energy security and supporting regional economic growth, particularly in manufacturing-heavy provinces like Shandong. While analysts expect this policy will lift refinery run rates and high-sulphur fuel oil demand, short-term market response remains tempered, especially with current crude prices offering a cheaper alternative for many operators. Still, the policy adjustment hints at a renewed effort by provincial authorities to enhance refinery competitiveness and industrial output in the face of tightening national regulations and shifting energy trade dynamics.
- 7 months, 2 weeks
UGANDA TO INTRODUCE ETHANOL-BLENDED PETROL STARTING JANUARY 2026
Uganda will require ethanol-blended petrol from 2026 to reduce fuel import costs and emissions. The move supports local industries and aligns with the country’s broader energy transformation plans.
- 7 months, 2 weeks
MALAYSIA DATA CENTRES BATTLE HIGHER POWER COSTS, UNCLEAR PRICING.
Malaysia's position as a rising digital hub in Southeast Asia is under pressure as steep electricity tariff hikes take effect, threatening to derail billions in data Centre investments from global tech giants like Microsoft and Google. The unexpected rise in power costs projected to increase by up to 14% for large scale facilities has caught many operators off guard, forcing them to reassess project viability and consider shifting operations to more cost-stable countries like Vietnam and Thailand. With electricity forming the largest share of operational expenses, and new tiered pricing structures placing heavier burdens on ultra-high voltage users, the business landscape for energy-intensive data centres has suddenly grown uncertain. Economically, this could slow down Malaysia's forecasted boom in data infrastructure demand, while geopolitically, it risks weakening the country's appeal as a tech investment destination amid intense regional competition.
- 7 months, 2 weeks
EPRA ASSURES STEADY OIL SUPPLY AMID IRAN-ISRAEL CONFLICT.
EPRA has assured Kenyans that the country has enough petroleum products to withstand any disruptions caused by the Iran-Israel conflict. The government is actively engaging with Middle Eastern suppliers to ensure a steady and secure oil supply.
- 7 months, 3 weeks
U.S. OIL PRICES RISE CAUTIOUSLY AS CEASEFIRE BETWEEN IRAN AND ISRAEL HOLDS.
Oil prices edged higher as U.S. investors digested the fragile ceasefire between Iran and Israel, with hopes that stability in the Middle East might stave off supply disruptions through key global chokepoints like the Strait of Hormuz. Following intense diplomatic pressure from President Donald Trump, both nations signaled a pause in hostilities, bringing temporary relief to markets that had surged after U.S. strikes on Iranian nuclear sites. Yet the rebound in prices remains modest, as analysts weigh the likelihood of renewed conflict against the backdrop of steady global oil supply and cautious economic fundamentals. With U.S. crude inventories showing a notable decline, traders are balancing geopolitical relief with persistent concerns over energy security, shipping risks, and demand softness all of which continue to shape short-term oil market dynamics.
- 7 months, 3 weeks
OIL TUMBLES TO OVER ONE WEEK LOWS AS TRUMP ANNOUNCES ISRAEL IRAN CEASEFIRE.
Oil prices plunged to their lowest levels in over a week after U.S. President Donald Trump announced a ceasefire agreement between Israel and Iran, offering a sudden de-escalation of tensions in the Middle East, one of the world’s most critical oil-producing regions. The diplomatic breakthrough has significantly reduced fears of immediate supply disruptions, leading to a sharp unwinding of the risk premium that had built up in oil markets over the past week. Brent and WTI crude both dropped more than 3% as investors shifted away from defensive positions and recalibrated expectations for future price movements. From a geopolitical standpoint, the ceasefire marks a turning point in a volatile regional conflict that had raised the specter of wider military involvement and potential threats to vital shipping lanes like the Strait of Hormuz. Economically, easing tensions could mean fewer disruptions to global energy supplies and lower pressure on fuel costs, which might offer relief to industries and consumers already grappling with inflation. From a business perspective, energy firms and oil traders will be closely monitoring the durability of the ceasefire, as well as potential changes in export volumes from Iran, OPEC’s third-largest producer, which could shift global supply dynamics heading into the second half of the year.
- 7 months, 3 weeks
UGANDA, TANZANIA AND ZANZIBAR INK OIL PACT.
Kampala, Uganda | THE INDEPENDENT | Uganda signed a tripartite agreement with Tanzania and Zanzibar to deepen regulatory cooperation in the oil and gas sector.
- 7 months, 3 weeks
OPEC+ WILL CONTINUE UNWINDING CUTS DESPITE IRAN-ISRAEL WAR.
Opec+ members are expected to continue unwinding 2.2 million barrels per day (bpd) of voluntary cuts and even start rolling back another 3.65 million bpd this year as the Iran-Israel war continues.
- 7 months, 3 weeks
MAJOR OIL PRICE SHOCK LOOMS DUE TO ISRAEL-IRAN CONFLICT.
Motorists may want to fill up their tanks ahead of next week’s price adjustments as the escalating conflict between Israel and Iran could drive local pump prices by as much as P5 per liter next week.
- 7 months, 3 weeks
HOW OIL PRICES RALLY BOOSTS CBN’S PUSH FOR HIGHER RESERVES, STABLE NAIRA.
The Central Bank of Nigeria (CBN) has ramped up efforts to strengthen foreign reserves, stabilize the naira, and boost dollar liquidity amid the ongoing rally in oil prices driven by heightened tensions between Israel and Iran.
- 7 months, 4 weeks
NIGERIAN OIL MAGNATE ALIKO DANGOTE LEADS AS AFRICA’S ELITE HIT RECORD-BUSTING $105 BILLION FORTUNE.
Africa's 22 billionaires saw their combined fortunes surge to a record $105 billion (R1.9 trillion) this year, up from $82.4bn held by 20 individuals last year, the Forbes 2025 Africa billionaires report showed.
- 7 months, 4 weeks
ADNOC DRILLING’S RISE IN PIONEERING ENERGY INNOVATION IN THE GCC.
ADNOC Drilling is transforming into a technology-driven energy services leader, leveraging long-term contracts and AI innovation to deliver stable returns.
- 7 months, 4 weeks
UGANDA, TANZANIA, ZANZIBAR PARTNER TO PROMOTE OIL AND GAS SECTOR’S GROWTH.
Ms Biribonwa said the MoU will help formalise collaboration in specific priority areas, including health, safety and environment, cost management and monitoring, national content promotion, and capacity building.
- 7 months, 4 weeks
KENYA BLOCKS ENTRY OF TANZANIAN BILLIONAIRE'S COOKING GAS OVER SAFETY STANDARDS: "UNFIT FOR USE.
Kenya blocked Lake Oil Ltd’s gas consignment due to missing odorant, declaring it unfits for use. The company has complied with KEBS’ demands and awaits final testing before market approval.
- 7 months, 4 weeks
SLOVAKIA THREATENS TO BLOCK NEW EU SANCTIONS WITHOUT ENERGY SECURITY GUARANTEES
As the EU pushes ahead with its toughest sanctions yet against Russia, deep cracks are emerging within the bloc, with Slovakia vowing to block the 18th sanctions package unless urgent energy guarantees are put in place. Prime Minister Robert Fico’s warning exposes the raw tension between geopolitical ambition and economic survival, as smaller, energy-dependent nations like Slovakia and Hungary resist what they see as reckless policy moves that could cripple their economies. The European Commission’s bid to cut Moscow’s revenue streams through financial sanctions, trade restrictions, and a proposed drop in the G7 oil price cap aims to pressure the Kremlin’s war machine. But with no clear alternatives to Russian gas, oil, and nuclear fuel, countries on the economic frontlines fear industrial disruption, business losses, and a blow to their energy security. As European unity is put to the test, the clash between political ideals and economic pragmatism could shape the future of both the EU’s foreign policy and internal cohesion.
- 8 months
ORYX GAS PUSHES CLEAN COOKING TO SAVE TANZANIA’S FORESTS.
Oryx Gas Tanzania marked World Environment Day by urging Tanzanians to adopt clean cooking energy and protect forests from deforestation. The company organized a school clean-up at Kisiwani Primary School, using the event to educate students on the importance of clean energy and environmental conservation.
- 8 months, 1 week
USTR BACKTRACKS ON LNG AND VEHICLE CARRIER PENALTIES IN BID TO BALANCE TRADE, SECURITY, AND INDUSTRY PRESSURES.
In a significant shift that intertwines geopolitical strategy, economic pragmatism, and business interests, the United States Trade Representative (USTR) has revised its earlier hardline stance on penalties targeting non-U.S.-built LNG tankers and vehicle carriers. Originally intended to curb China's dominance in global shipping and reinvigorate U.S. shipbuilding, the proposed rules drew sharp backlash from both the liquefied natural gas (LNG) and automotive shipping industries for threatening to raise costs and disrupt trade. The softened measures now remove penalties linked to LNG exports on non-U.S. vessels and reduce steep port fees for foreign-built car carriers, particularly those supporting military operations. These adjustments come amid mounting concern that overly aggressive trade restrictions could hurt U.S. energy exports and global competitiveness. As global economic uncertainty persists and maritime logistics remain a battleground for strategic influence, the USTR’s course correction illustrates how the U.S. is trying to strike a delicate balance between protecting national interests and maintaining strong trade flows in a highly interconnected world.
- 8 months, 1 week
OIL PRICES CLIMB TO MULTI-WEEK HIGHS AMID US-CHINA TRADE OPTIMISM.
Oil prices surged to multi-week highs on Monday, underpinned by a complex mix of geopolitical developments, economic signals, and market sentiment. At the heart of the rally is renewed hope surrounding U.S.-China trade talks taking place in London, a diplomatic engagement that investors view as a potential turning point in strained relations between the world's two largest economies. A successful negotiation could ease global trade tensions, boost cross-border investments, and revive economic activity, particularly in energy-intensive sectors. On the business front, a weaker U.S. dollar has made oil cheaper for international buyers, spurring demand and lifting prices, while expectations of tighter market conditions have fueled speculative interest. Meanwhile, China's latest economic data has raised red flags exports have slowed, factory-gate deflation has deepened, and crude oil imports have declined signaling growing stress within its domestic economy. Yet, optimism about a trade deal continues to overshadow these concerns, with markets betting that improved diplomatic ties and coordinated global economic recovery efforts will help stabilize oil demand. As OPEC+ cautiously ramps up production, the energy sector is closely watching both political and economic shifts, which now hold the key to sustaining momentum in global oil markets.
- 8 months, 1 week
TANGA TO HOST PETREDEC, ASAS VAST LPG TERMINAL.
Petredec and ASAS have launched a $100 million LPG terminal in Tanga, Tanzania, aimed at transforming clean energy access across East Africa. The project will enhance supply, affordability, and availability of LPG, support government clean cooking goals and generating thousands of local jobs.
- 8 months, 1 week
NIGERIA ISSUES UPSTREAM EXECUTIVE ORDER, PRIORITIZING HIGH RETURNS FOR OIL & GAS OPERATORS.
Nigerian President Bola Ahmed Tinubu has signed an executive order designed to lower project costs for investors while enhancing revenue from oil and gas projects.
- 8 months, 1 week
OIL PRICES WAVER AS CHINA’S ECONOMIC SLOWDOWN WEIGHS ON DEMAND WHILE TRADE DEAL HOPES OFFER SUPPORT.
Global oil markets are at a pivotal crossroads as geopolitical pressures, economic uncertainty, and evolving business strategies converge with growing intensity. Fresh U.S. Senate sanctions aimed at imposing 500% tariffs on Russian oil and gas could significantly upend global energy flows, potentially triggering supply shocks and inflationary ripple effects worldwide with American households and European allies bracing for higher costs. Simultaneously, weak economic data from China, including slowing exports and reduced crude imports, has cast a shadow over global demand prospects, just as Beijing and Washington prepare for crucial trade talks that could either revive or further dampen market optimism. On the business front, oil producers face a delicate balancing act: OPEC+ is accelerating output hikes into late 2025, while U.S. producers pull back amid wildfire-related disruptions and falling rig counts. Together, these developments reflect a market navigating fragile diplomacy, uneven recovery, and strategic recalibration all within an energy landscape that remains highly sensitive to political moves and economic signals.
- 8 months, 1 week
U.S. SENATE ENERGY TARIFF BILL TARGETS RUSSIA, RISK GLOBAL SHOCK.
A bold new U.S. Senate bill the Sanctioning Russia Act of 2025 is sending ripples through global energy markets, threatening to reshape geopolitical alliances, disrupt international trade, and spike energy costs for consumers. With a proposed 500% tariff on all Russian origin oil, gas, uranium, and petrochemicals and punitive measures for nations like China and India that continue doing business with Russia the legislation could destabilize existing energy supply chains and strain diplomatic ties. While aimed at choking off revenue for Russia’s war in Ukraine, the bill risks triggering economic blowback by jacking up prices at the pump and on utility bills, even in the U.S. Energy companies face mounting uncertainty as the prospect of restricted access to Russian supplies clashes with already fragile post-pandemic demand patterns. The result is a high-stakes gamble that blends hardline foreign policy with economic risk and could reconfigure global energy trade as both governments and businesses brace for impact.
- 8 months, 1 week
EACOP PROJECT REACHES 60 PERCENT COMPLETION.
The East African Crude Oil Pipeline (EACOP) has reached 60% completion, creating over 6,000 jobs—70% of which have gone to locals near the project. With a $4 billion investment, the pipeline is set to boost infrastructure, trade, and economic growth across Uganda and Tanzania.
- 8 months, 1 week
FUEL PRICES RISE IN UGANDA AS UNOC BLAMES LOGISTIC SNAGS.
Uganda is facing a temporary spike in fuel prices due to logistical disruptions in deliveries through Kenya, causing gasoline prices to rise to 5,000 shillings per liter. UNOC has responded by importing fuel via Tanzania and expects supply and prices to stabilize soon as more shipments arrive.
- 8 months, 1 week
PUMA ENERGY TO LAUNCH FOUR CNG STATIONS.
Puma Energy Tanzania is launching four new CNG stations, including the largest CNG mother station in Africa, as part of a strategic move to reduce fuel imports, cut emissions, and boost clean energy infrastructure. The investment aligns with national sustainability goals, with the first multi-fuel station in Tanzania, support for industrial applications, and a planned second phase to expand CNG access in key logistics and industrial regions.
- 8 months, 1 week
TANZANIA’S ENERGY MINISTRY SCORES HIGH IN PERFORMANCE.
The Ministry of Energy achieved a 95% performance score in Q3 of the 2024/25 financial year, reflecting major progress in electricity generation, rural electrification, and natural gas expansion. Leaders emphasized the critical role of the energy sector in economic growth and daily life, urging continued improvements in infrastructure, efficiency, and energy supply across the country.
- 8 months, 1 week
ASIA PACIFIC'S UPSTREAM OIL AND GAS MARKET SET TO HIT $1.97 TRILLION AMID ENERGY BOOM.
Asia-Pacific’s oil and gas upstream market is set for a transformative leap, with projections reaching $1.97 trillion by 2030. This growth is underpinned by rising energy consumption, accelerated urbanization, and a strategic shift toward domestic production across key economies like China, India, Malaysia, and Indonesia. As countries push for energy security and transition fuels, the region is becoming a focal point for global exploration investments from deepwater drilling and LNG infrastructure to advanced gas development. Despite regulatory hurdles and policy inconsistencies, Asia-Pacific’s evolving energy landscape highlights its critical role in shaping the future of global supply, balancing economic ambition with environmental priorities.
- 8 months, 2 weeks
THE IMPORTANCE OF TECHNOLOGY IN THE GROWTH OF TANZANIA’S PETROLEUM INDUSTRY.
Engineer Charles Sangweni highlighted the vital role of advanced technology in boosting the efficiency and growth of Tanzania’s petroleum industry. He also emphasized the need to prepare skilled local professionals to keep up with global technological advancements and drive the sector forward.
- 8 months, 2 weeks
TANZANIA LAUNCHES NATIONAL CAMPAIGN TO PROMOTE CLEAN COOKING AND HEALTHIER LIVING.
The government of Tanzania has launched a nationwide campaign to promote clean cooking solutions and reduce reliance on harmful traditional fuels. The initiative aims to improve public health, protect the environment, and support the country’s energy transition goals.
- 8 months, 2 weeks
IRAQ SIGNS CONTRACT TO DRILL FIRST EXPLORATORY WELL AS PART OF PROGRAM TO INCREASE OIL AND GAS RESERVES.
Iraq continues to advance its strategic efforts to maximize its oil and gas reserves through a newly launched program that targets the drilling of 15 exploratory wells.
- 8 months, 2 weeks
PETRONAS POWERS AHEAD: MALAYSIA DEEPENS LNG TIES WITH CHINA AMID SOARING DEMAND.
As China's appetite for liquefied natural gas (LNG) surges to record levels, Malaysia's energy giant Petronas is stepping up with bold expansions both at home and abroad. From new gas fields and floating LNG plants to green-powered complexes and cross-border shipping innovations, Petronas is building a future-proof LNG ecosystem. The company’s strategic push not only solidifies its standing as China’s trusted supplier but also enhances Malaysia’s role in Asia-Pacific’s evolving energy map. With energy security and decarbonization at the forefront, Petronas is aligning commercial agility with long-term geopolitical and economic goals.
- 8 months, 2 weeks
OIL PRICES SURGE AS OPEC+ HOLDS STEADY ON OUTPUT, CALMS MARKET FEARS.
Oil prices rallied sharply after OPEC+ confirmed it would maintain a steady production increase in July, matching the hikes of the previous two months. The market had braced for a potential larger hike that could have driven prices lower, but the decision to hold steady was seen as a reassuring sign of the group's strategy to manage supply carefully while punishing quota violators. As global demand remains robust especially heading into the U.S. summer driving season tight fuel inventories, slower U.S. drilling, and geopolitical discipline from major producers are combining to support a bullish outlook in the oil market. The OPEC+ move, coupled with low U.S. rig counts and expectations of a strong hurricane season, underscores the fragility of global oil supplies and the importance of coordinated production decisions.
- 8 months, 2 weeks
GREECE POWERS EUROPE'S ENERGY FUTURE WITH VERTICAL GAS CORRIDOR.
Europe’s energy map is undergoing a historic transformation and Greece is at the center of it. With the signing of a major agreement last week, the Vertical Gas Corridor is now officially underway, promising to transfer up to 25 billion cubic meters of natural gas annually from Greece to Central and Eastern Europe. This landmark initiative not only enhances Greece’s strategic status as a regional energy hub but also strengthens the continent’s independence from Russian gas, a critical objective as the Ukraine transit agreement nears expiration. The corridor, stretching north from Greece through Bulgaria and onward to Romania, Hungary, Slovakia, and even east to Moldova and Ukraine, represents a major shift in energy diplomacy, security, and infrastructure planning. Powered by Greek LNG terminals such as Revithoussa and the Alexandroupolis FSRU, the project aims to diversify gas sources bringing in U.S. LNG, Azeri gas, and potentially East Mediterranean supplies while reducing single-source dependence. Despite challenges like high transit fees in some countries, strong regional cooperation and long-term vision have kept momentum high. What's more, the infrastructure is being built with the future in mind: it will eventually accommodate renewable gases and hydrogen, aligning with the EU’s green energy goals. The Vertical Gas Corridor is not just a pipeline it's a symbol of energy resilience, strategic foresight, and regional unity in the face of geopolitical uncertainty.
- 8 months, 2 weeks
LIQUIDATED SWALA OIL & GAS CLAIMS $167 MILLION FROM ORCA GROUP.
Swala Oil & Gas, now under liquidation, has filed a $167 million lawsuit against the Orca Group for breach of contract and fraud. The claim alleges that Orca misused funds and assets, causing significant financial losses to Swala.
- 8 months, 2 weeks
VISITORS FROM LESOTHO LEARN FROM TANZANIA’S ENERGY SECTOR.
Lesotho’s Ministry of Energy delegation visited Tanzania to learn from its successful management of the petroleum and natural gas sectors. TPDC highlighted its role and readiness to collaborate internationally, noting Tanzania’s large natural gas discoveries and their diverse uses.
- 8 months, 2 weeks
UAE COMPLETES ACQUISITION OF UZBEKISTAN GAS POWER PLANT.
Two leading energy companies from the United Arab Emirates, Mubadala Investment Company and TAQA, have finalized the acquisition of a key gas-fired power plant in Uzbekistan.
- 8 months, 2 weeks
SHELL BOOSTS STAKE IN NIGERIAN DEEPWATER AS TOTALENERGIES EXITS BONGA OILFIELD.
Shell has announced that it will acquire TotalEnergies’ 12.5% non-operated stake in the deepwater Bonga oilfield located offshore Nigeria.
- 8 months, 2 weeks
UGANDA’S ‘FIRST OIL’ DREAM SHIFTS TO JUNE 2026.
Uganda has shifted its oil production timeline to June 2026 due to delays in key infrastructure like the refinery and crude oil pipeline. While field development is progressing, the refinery may not be ready by the time oil starts flowing, meaning crude exports will begin before local processing.
- 8 months, 2 weeks
OIL PRICES SURGE $1 AS U.S. TARIFF RULING, RUSSIANS SANCTION FEARS AND SUPLLY DISRUPTIONS STIR MARKETS.
Oil markets saw a notable uptick as Brent and WTI crude prices jumped over $1 per barrel following a U.S. court decision to block most of Trump-era tariffs, easing global trade tension and boosting investor confidence. However, the market remains alert to looming risks, including possible new sanctions on Russian crude, Chevron’s exit from Venezuela, and wildfire-related supply disruptions in Canada. With OPEC+ considering a July output hike, all eyes are on how production dynamics and geopolitical tensions will shape oil’s next move.
- 8 months, 2 weeks
CHINA'S $690 MILION HYDROGEN FUND SIGNALS BOLD GEOPOLITICAL AND ECONOMIC SHIFT TOWARDS CLEAN ENERGY LEADERSHIP.
In a major push toward clean energy leadership, China’s state-owned oil and gas giant Sinopec has unveiled a $690 million venture capital fund the largest hydrogen focused investment vehicle in the country to date. This strategic fund aims to accelerate innovation across the entire hydrogen energy value chain, from advanced materials and proprietary technologies to infrastructure development and fuel cell systems. Managed by Sinopec’s private equity arm, and backed by key external partners, the fund is a clear signal of China’s long-term commitment to transitioning away from fossil fuels. With significant geopolitical, economic, and business implications, Sinopec’s move could solidify China’s position in the global hydrogen race, unlock new markets, and drive job creation while contributing to national and international carbon neutrality goals.
- 8 months, 3 weeks
TANZANIA URGES PUMA ENERGY TO EXPAND INVESTMENT IN CLEAN ENERGY INFRASTRUCTURE.
Deputy Prime Minister Dr. Doto Biteko has called on Puma Energy to increase its investment in compressed natural gas (CNG) and clean cooking energy solutions. The government praised Puma’s ongoing efforts and reaffirmed its commitment to strengthening public-private collaboration for nationwide energy access.
- 8 months, 3 weeks
TANZANIA LEVERAGES TECHNOLOGY TO UNLOCK OIL AND GAS POTENTIAL.
Tanzania is actively embracing advanced technology and global partnerships to boost exploration and efficiency in its oil and gas sector. The country aims to attract investment in its 23 open exploration blocks while empowering local talent and ensuring sustainable energy growth.
- 8 months, 3 weeks
SITRA REFINERY IN BAHRAIN NEARS FULL OPERATION.
The Sitra refinery modernization project in Bahrain, led by Bapco Energy, is nearing full completion and is expected to significantly boost the country’s oil refining capacity.
- 8 months, 3 weeks
OIL PRICES EDGE UP AMID U.S. SANCTIONS ON VENEZUELA AND OPEC+ OUTPUT UNCERTAINTY.
Oil prices ticked up slightly due to renewed supply concerns after the U.S. barred Chevron from exporting crude from Venezuela, limiting Venezuelan barrels to the U.S. and increasing reliance on Middle Eastern oil. Brent rose to $64.16 and WTI to $60.98 per barrel. However, gains were capped by expectations that OPEC+ may boost output following their meeting this week, potentially contributing to an oversupplied market in the second half of the year. Market sentiment remains cautious amid poor quota compliance within OPEC and potential new U.S. sanctions on Russia, which could further disrupt global energy flows. Oil Prices Edge Up Amid U.S. Sanctions on Venezuela and OPEC+ Output Uncertainty
- 8 months, 3 weeks
ANGOLA: NEW HOPE IN OIL AND GAS SECTOR AS BRAZIL'S PETROBRAS SIGNALS RETURN.
The Brazilian oil company Petrobras and Angolan national oil company Sonangol have signed a Memorandum of Understanding for oil and gas research and development, training, and research on relevant projects for the just energy transition.
- 8 months, 3 weeks
GERMANY STRENGTHS ENERGY SECURITY WITH LAUNCH OF THIRD LNG AT WILHELMSHAVEN.
Germany has taken a major step toward energy independence and resilience with the commissioning of its third LNG terminal, Wilhelmshaven 2, significantly enhancing the country’s ability to secure stable and diversified energy supplies. This new terminal not only reduces Germany’s reliance on single-source gas imports especially in light of shifting geopolitical dynamics but also plays a vital role in supporting Europe’s broader energy security goals and climate ambitions. By increasing regasification capacity and enabling flexible access to global LNG markets, the project strengthens Germany’s energy infrastructure while laying the groundwork for a more sustainable and self-reliant future.
- 8 months, 3 weeks
ASIA'S LNG DEMAND SLOWS AS CHINA CUTS BACK, U.S. BECOMES KEY SUPPLIER AMID SHIFTING GLOBAL FOWS.
Asia’s liquefied natural gas (LNG) imports are showing signs of stagnation in May 2025, with demand weakened primarily by China’s reduced appetite due to high prices and an increased reliance on domestic and pipeline-supplied gas. As the world’s top LNG importer pulls back, global LNG flows are being reshaped, with the United States stepping in to capture a larger market share. This shift is not just an energy trade story it’s a signal of broader economic realignment and geopolitical maneuvering. With traditional suppliers like Australia facing supply disruptions and Middle Eastern producers being pulled toward new opportunities, Asian nations now face increasing pressure to secure long-term, cost-effective LNG deals. At the same time, the drive to import more from the U.S. intertwines energy security with diplomacy, trade leverage, and competition for limited supply. The future of Asia’s LNG market now sits at the crossroads of global pricing dynamics, strategic partnerships, and the evolving energy transition.
- 8 months, 3 weeks
ANGOLA: OIL PLATFORM ACCIDENT IN CABINDA.
Seventeen people were injured on Tuesday following a fire outbreak on the Benguela Belize Lobito Tomboco (BBLT) deepwater platform in Block 14, located in Angola’s northern Cabinda province.
- 8 months, 3 weeks
IRAQ: SEALS MAJOR OIL DEAL WITH CHINESE COMPANY.
Iraq’s government has signed a deal with Chinese Geo-Jade Petroleum to expand production at the Tuba oil field, build a refinery and two power plants.
- 8 months, 3 weeks
UPSTREAM PETROLEUM ACTIVITIES STRENGTHEN UNDER THE SIXTH PHASE GOVERNMENT.
The Petroleum Upstream Regulatory Authority (PURA) has reported major improvements in oil and gas exploration and production under Tanzania’s Sixth Phase Government led by President Samia Suluhu Hassan. Key achievements include increased gas output, enhanced local participation, and over TZS 340 billion recovered through contract audits.
- 8 months, 3 weeks
SOUTH SUDAN FACES ECONOMIC COLLAPSE AMID OIL EXPORT THREAT FROM SUDAN.
South Sudan is at risk of economic collapse after Sudan threatened to shut down the pipeline it uses to export oil, which accounts for over 90% of its government revenue. The move is linked to rising tensions as Sudan accuses South Sudan of supporting its enemy, the RSF.
- 8 months, 3 weeks
AUSTRALIA'S ENERGY FUTURE BRIGHTENS AS OMEGA CONFIRMS MAJOR OIL AND GAS DISCOVERY IN TAROOM TROUGH.
Omega Oil and Gas has unveiled a significant breakthrough in Australia’s Taroom Trough, confirming an extensive oil and gas system within its Canyon project. Backed by high-quality pulsed neutron logging, the findings reveal a thicker, higher-grade petroleum reservoir than previously thought, with the potential to transform the region into a major energy hub. This discovery not only strengthens Australia’s domestic energy security but also positions the country to attract strategic investment, create employment opportunities, and generate long-term economic growth. With crude oil quality exceeding global benchmarks and a strategic push toward commercialization underway, the project could significantly enhance Australia's role in the international oil and gas market.
- 8 months, 3 weeks
EU, BRITAIN TIGHTEN GRIP ON RUSSIA'S SHADOW FLEET WITH NEW SANCTIONS.
In a major escalation of economic pressure against Moscow, the European Union and the United Kingdom have announced sweeping new sanctions targeting Russia’s elusive “shadow fleet” — a covert network of aging, poorly regulated tankers transporting oil and gas to bypass Western embargoes. This latest round of sanctions, affecting nearly 200 vessels and dozens of supporting entities, aims to crack down on the opaque system enabling Russia to maintain vital energy revenues while waging war in Ukraine. As European officials highlight concerns over maritime safety, illegal grain transport, and even potential sabotage of undersea infrastructure, the move marks a coordinated international effort to disrupt Russia’s wartime logistics, limit its global influence, and reinforce the call for a just and lasting peace.
- 8 months, 4 weeks
TANZANIA TARGETS FOREIGN INVESTORS TO REVITALIZE OIL AND GAS EXPLORATION.
Tanzania is preparing its fifth oil and gas licensing round to attract foreign investors due to the high costs and risks of exploration. PURA’s Director General emphasized that local investors cannot absorb losses like multinational firms can. Recent reforms—including new laws and contract renegotiations—aim to create a more stable investment climate. Since 2021, over 301 billion cubic feet of natural gas has been produced, with major benefits in local employment and infrastructure development.
- 8 months, 4 weeks
TPDC PARTNERS WITH INDONESIAN COMPANY ESSA TO POWER FERTILIZER PLANT IN MTWARA.
TPDC has partnered with Indonesia’s ESSA to supply natural gas to a $1.4 billion fertilizer plant in Mtwara. The plant will produce over one million tonnes of fertilizer annually and create more than 4,000 jobs, boosting both agriculture and local employment.
- 8 months, 4 weeks
AUSTRALIA'S SANTOS GETS GREEN LIGHT FOR $2.3 BILLION NARRABRI GAS PROJECT.
After more than a decade of fierce opposition, Santos’ $2.3 billion Narrabri gas project in New South Wales has received a green light from the National Native Title Tribunal, marking a pivotal moment for Australia's energy future. The decision, which pits the country’s pressing need for domestic gas supply against environmental and Indigenous cultural concerns, highlights the complexity of balancing climate responsibilities with energy security. With plans to drill up to 850 coal-seam gas wells overlapping the sacred Pilliga forest, the project has faced staunch resistance from the Gomeroi people, who argue it threatens both their heritage and the climate. The tribunal acknowledged these risks but ultimately found the public benefit outweighed the detriments, signaling a controversial step forward in Australia’s ongoing energy debate.
- 9 months
GHANA: GOIL SLASHES PETROL, DIESEL PRICES FOR CONSUMERS.
Ghana’s largest indigenous petroleum downstream oil marketing company, GOIL, has reduced its petrol and diesel prices effective May 19, 2025.
- 9 months
OIL RETREATS AS CHINA AND US GROWTH CONCERNS WEIGH.
Oil prices are on edge as economic clouds gather over the world’s two largest energy consumers the United States and China. A downgrade of U.S. sovereign credit by Moody’s and unexpectedly weak industrial and retail data from China have fueled fears of slowing demand in global oil markets. The concerns come just a week after optimism from U.S.-China tariff rollbacks had pushed prices higher. Add to this the growing uncertainty surrounding U.S.-Iran nuclear negotiations and renewed threats of tariffs from Washington, and the energy market finds itself caught in a complex web of economic and geopolitical risks.
- 9 months
BOOSTING OIL PRODUCTION WITH NEW DIGITALLY SUPPORTED TECHNOLOGY.
SLB has launched a cutting-edge, digitally enabled well completion technology known as Electris, aimed at enhancing oil production while lowering the overall cost of asset ownership.
- 9 months
SAUDI ARAMCO USES 10 EGYPTIAN DRILLING RIGS.
As part of its strategy to boost domestic oil and gas production, Saudi Aramco has contracted 10 drilling rigs from the Egyptian Drilling Company (EDC), reinforcing the energy cooperation between Saudi Arabia and Egypt.
- 9 months
EPRA MAINTAINS FUEL PRICES DESPITE DROP IN SHIPMENT COSTS.
EPRA has maintained fuel prices for the period between May 15 and June 14, 2025, despite a noticeable drop in the global shipment costs of petrol, diesel, and kerosene. The authority cites existing tax laws and inflation-adjusted levies as key reasons for keeping pump prices unchanged.
- 9 months
TOTALENERGIES FACES LEGAL CHALLENGES OVER UGANDA OIL PROJECTS.
TotalEnergies is currently under legal scrutiny in France for alleged environmental and human rights violations linked to its Uganda oil projects. The case could set a major precedent for holding multinational corporations accountable for their overseas operations.
- 9 months
FIRST LNG SHIP BUNKERING HUB IN US GULF COAST SECURES PERMITS TO START WORK.
The United States is taking a major step toward cleaner marine energy with the approval of its first dedicated LNG (liquefied natural gas) bunkering hub on the Gulf Coast. This landmark project, developed by a joint venture between Houston-based Pilot LNG and Seapath (a subsidiary of the Libra Group), has received final permits from the U.S. Army Corps of Engineers and the Coast Guard, clearing the way for construction to begin later this year. Located along the Texas City Ship Channel, the Galveston LNG Bunker Port (GLBP) is poised to supply LNG fuel to the growing fleet of LNG-powered vessels operating in the Houston-Galveston maritime region. As the global shipping industry seeks cleaner alternatives to traditional fuels, this $300 million facility will not only support the U.S. push for lower emissions but also position the country as a leader in LNG marine fuel supply. The hub, expected to begin bunker deliveries by late 2027, marks a significant leap in America’s commitment to sustainable energy and maritime innovation.
- 9 months
ADNOC SAYS US AND UAE TO INVEST $440 BILLION IN ENERGY SECTOR THROUGH 2035.
The United States is set to gain significantly from a $440 billion energy investment partnership with the United Arab Emirates, marking a major boost for American energy infrastructure and economic growth. Spearheaded by ADNOC’s global investment arm, XRG, the deal will channel billions into U.S. natural gas, hydrogen, and manufacturing projects, including key facilities in Texas. With $60 billion earmarked for UAE investments in U.S. energy ventures, this collaboration promises to create jobs, enhance energy security, and position the U.S. as a leader in the global energy transition. The agreement not only strengthens economic ties but also aligns with America's strategic goals in clean energy and advanced technologies.
- 9 months
PURA AND EPRA EXCHANGE EXPERIENCE ON OIL AND GAS REGULATION.
Tanzania’s PURA and Kenya’s EPRA met in Dar es Salaam to exchange regulatory experience in oil and gas exploration, development, and production. The collaboration aims to strengthen regional governance, improve institutional efficiency, and promote community participation in energy projects.
- 9 months
QATAR DOES NOT WANT OIL PRICES OF $100.
In response to ongoing changes in the global energy sector, Qatar has made a clear statement regarding its stance on oil and natural gas pricing.
- 9 months
ETHIOPIA’S OGADEN OIL: PROMISE OF PROSPERITY OR A DANGEROUS GAMBLE?.
Ethiopia’s Ogaden region holds vast oil reserves that could transform the country’s economy. But without responsible governance, environmental protection, and local inclusion, the promise of prosperity may quickly turn into a dangerous gamble.
- 9 months
SOMALIA AND TÜRKIYE SIGN HISTORIC OIL DEAL: A NEW ERA FOR EAST AFRICA’S ENERGY FUTURE.
Somalia and Türkiye signed a groundbreaking oil exploration deal in April 2025, granting Türkiye rights to develop major onshore oil blocks in Somalia. The agreement marks a strategic alliance that could reshape East Africa’s energy future and boost Somalia’s economic revival.
- 9 months
UKRAINE GAS RESERVES ARE AT LOWEST LEVEL IN 11 YEARS.
Ukraine’s natural gas reserves have fallen to their lowest level in over a decade, with storage facilities barely 20% full after heavy wartime damage to production infrastructure. As the country scrambles to rebuild supplies ahead of the 2025/26 winter season, urgent gas imports and international financial support are now critical. Analysts warn Ukraine will need billions in funding to secure enough gas for the coming months amid ongoing energy security challenges.
- 9 months
TWO DRILLING RIGS MOVE TO MISSION IN AFRICA AFTER CONTRACT WITH ARAMCO SUSPENDED.
Two drilling rigs operated by UAE-based Shelf Drilling have arrived in West Africa to begin new assignments after being released from contracts with Saudi Aramco.
- 9 months
KOSMOS ENERGY STRIKES A POSITIVE TONE ON GHANA.
Kosmos Energy has announced Q1 2025 net production in Ghana of 33,000 boe/d.
- 9 months
TANZANIA TARGETS 80PC CLEAN COOKING ACCESS IN 10 YEARS.
The Tanzanian government has launched a decade-long initiative to ensure that 80% of its population gains access to clean cooking energy by distributing subsidised gas cylinders and expanding piped gas infrastructure. The plan aims to reduce dependence on charcoal and firewood, improve health outcomes, and promote sustainable energy use across the country.
- 9 months
TAIWAN TO BUILD ESWATINI STRATEGIC OIL RESERVE FACILITY.
Taiwan’s state-owned Overseas Investment and Development Corporation is to start construction of an oil storage facility in the Lubombo region.
- 9 months
NIGERIA: NEW NNPC BOSS OJULARI RESHUFFLES DOWNSTREAM LEADERSHIP.
Appointed in April to lead the Nigerian National Petroleum Company (NNPC), Africa’s largest oil firm, Bashir Bayo Ojulari has set to work to reform the state-owned giant.
- 9 months
EU ROADMAP TO FULLY ELIMINATE DEPENDECY ON RUSSIAN ENERGY AND SECURE A SUSTAINABLE FUTURE.
The European Union is taking decisive action to end its dependence on Russian energy sources through a comprehensive and strategic roadmap. The EU aims to completely phase out Russian oil, gas, and nuclear energy by 2027, ensuring a stable and secure energy future. This transition, part of the Repower EU Plan, focuses on diversifying energy supplies, improving energy transparency, and accelerating the shift to clean energy. By the end of 2025, EU countries will develop national plans to contribute to eliminating Russian energy imports, enhancing security and market stability across the region. The roadmap also addresses issues like Russia’s ‘shadow fleet’ in the oil sector and restrictions on nuclear materials from Russia. This ambitious plan not only reduces security risks but also supports the EU’s economic growth and decarbonization goals. With new legislative proposals coming soon, the EU is setting a clear path towards a cleaner, independent, and more resilient energy system.
- 9 months
WOODSIDE'S $30 BILLION BROWSE GAS PROJECT FACES RENEWED ENVIRONMENTAL SCRUTINY AMID REVISED PLANS.
Woodside Energy’s massive $30 billion Browse gas project off the coast of Western Australia is once again under the spotlight as environmental regulators revisit its approval process. With fresh concerns raised over marine life protection and ecological risks, the Western Australia Environmental Protection Authority has reopened public consultations, signaling possible hurdles for the country’s largest untapped gas field. As environmental groups push back against the project, citing potential threats to turtle habitats and climate impact, the outcome could shape the future of Australia’s gas industry and its global reputation. This story reveals the growing tension between economic interests and environmental responsibility.
- 9 months
S&P GLOBAL PREDICTS U.S. OIL PRODUCTION DIP IN 2026 AMID SLUGGISH DEMAND AND RISING GLOBAL SUPPLY.
The U.S. oil industry is facing serious challenges ahead. S&P Global Commodity Insights has issued a stark warning that U.S. oil production could decline in 2026 for the first time in years, signaling a major shift in global energy dynamics. Sluggish demand growth, looming supply surpluses, and aggressive production increases by OPEC are creating a perfect storm for American oil producers. With output gains slowing and global trade uncertainties mounting, the future of U.S. energy dominance is under threat. This forecast marks a critical moment for global oil markets. If U.S. production weakens while OPEC continues ramping up, we could witness significant price swings and power shifts in the industry. Investors, policymakers, and energy companies are bracing for the impact. Will this downturn set the stage for a market rebound, or signal prolonged challenges ahead?
- 9 months
350AFRICA CONDEMNS DRC’S RECKLESS OIL EXPANSION IN THE CUVETTE CENTRALE.
350Africa has strongly condemned the DRC government's decision to open 52 new oil blocks in the ecologically sensitive Cuvette Centrale basin. The move is seen as a major threat to climate stability, forest ecosystems, and the rights of local communities.
- 9 months
KENYA EXTENDS OIL IMPORT DEAL WITH GULF OIL GIANTS THROUGH 2027.
Kenya has extended its oil import deal with three Gulf state-owned firms by two years, allowing continued fuel purchases on a 180-day credit basis. The renegotiated deal features lower costs and aims to stabilize the shilling while easing pressure on foreign currency reserves.
- 9 months
TANZANIA: OVER 800 HOUSEHOLDS IN MTWARA TO BE CONNECTED TO COOKING GAS NETWORK.
The Government of Tanzania, through TPDC, plans to connect over 800 households in Mtwara to a natural gas system for cooking. This initiative aims to expand access to clean energy and reduce reliance on traditional fuels.
- 9 months
VENUS OIL FIELD IN NAMIBIA ADVANCES TOWARD 2026 FINAL INVESTMENT DECISION.
An oil field off the coast of Namibia is steadily progressing toward a Final Investment Decision (FID) scheduled for early 2026.
- 9 months, 1 week
EGYPT: UNITED ENERGY ACQUIRES WESTERN DESERT PRODUCER APEX.
United Energy (MENA), a wholly owned subsidiary of United Energy Group (UEG), has signed a Sale and Purchase Agreement with Apex International Energy.
- 9 months, 1 week
SAUDI ARAMCO RAISES JUNE OIL PRICES FOR ASIA MARKETS.
Saudi Aramco has raised its oil prices for June exports to Asia, reversing a two month trend of price cuts. The increase comes amid rising supply concerns and a fragile global demand outlook. With OPEC+ agreeing to boost production for the second month in a row, this move has significant implications for oil markets. As market watchers await further developments at the upcoming OPEC+ meeting, Saudi Aramco's pricing decisions continue to set the tone for global oil markets, impacting everything from production strategies to pricing benchmarks for major regional producers.
- 9 months, 1 week
DEPUTY MINISTER JUDITH KAPINGA INAUGURATES CNG MOTHER STATION IN DAR ES SALAAM.
Deputy Minister for Energy, Judith Kapinga, officially launched a state of the art Compressed Natural Gas (CNG) Mother Station in Dar es Salaam on May 9, 2025. Representing the Deputy Prime Minister and Minister for Energy, Dr. Doto Biteko, Kapinga unveiled the facility, which operates 24 hours a day and can serve up to 1,200 vehicles daily. The launch also featured the unveiling of the first UDART bus powered by natural gas. With the capacity to simultaneously fill eight vehicles, the new station is expected to reduce fuel costs, ease congestion at existing CNG outlets, and support Tanzania's transition to environmentally friendly energy sources. This milestone aligns with national goals to expand clean energy infrastructure, boost industrial use of natural gas, and encourage private sector investment in sustainable energy development.
- 9 months, 1 week
HOW TURKEY COULD THWART THE EU's PLAN TO BAN RUSSIANS GAS.
As the European Union accelerates efforts to eliminate Russian natural gas imports by 2027, an unexpected challenge is emerging not from within the bloc, but from neighboring Turkey. Positioned strategically between East and West, Turkey is rapidly evolving into a major natural gas hub, receiving significant volumes of Russian gas via the TurkStream pipeline. While the EU pushes for energy independence, Turkey’s growing role as a transit and distribution center could quietly undermine those goals, allowing Russian gas to continue flowing into Europe under a different guise. With some EU countries like Hungary and Slovakia still heavily reliant on these supplies, and Turkey aiming to replace Ukraine as the primary transit route, the road to energy autonomy may be more complex and politically fraught than Brussels anticipated. Dive into the full story to uncover how geopolitics, pipelines and pricing are reshaping Europe's energy future.
- 9 months, 1 week
EIA SHOWS US CRUDE OIL INVENTORIES CONTINUE TO SLIDE.
As U.S. crude oil stockpiles fell by 2 million barrels last week, fresh data from the Energy Information Administration highlights a tightening supply environment just as gasoline and distillate demand surges ahead of peak consumption season. With refinery output rising and inventories slipping below five-year averages, this trend could have ripple effects on global oil prices already rattled by economic uncertainty, OPEC+ moves, and trade tensions. For investors, policymakers, and energy watchers alike, this development raises urgent questions: Are we heading for another price rebound? Will supply meet summer demand?
- 9 months, 1 week
SAUDI ARABIA'S BUDGET DEFICIT SOARS AMID OIL REVENUE SLUMP AND PRICE CRASH.
Saudi Arabia is facing mounting fiscal pressure as its budget deficit surged to $15.6 billion in Q1 2025—before the latest oil price crash even took hold. With oil revenues down sharply and borrowing on the rise, the Kingdom’s ambitious investment plans, like the futuristic Neom city, could be at risk. As global oil prices tumble and economic headwinds grow, discover how the world’s top crude exporter plans to navigate this critical financial turning point.
- 9 months, 1 week
BIG OIL STAYS THE COURSE ON DIVIDENDS AND BUYBACKS DESPITE MARKET TURMOIL.
Despite a turbulent market and declining oil prices, the world’s biggest oil companies ExxonMobil, Shell and TotalEnergies have reaffirmed their commitment to shareholders by maintaining dividends and buybacks. While BP and Chevron dialed back share repurchases slightly for Q2, most firms exceeded Q1 earnings expectations and emphasized their resilience. With rising production and long-term, cost-cutting strategies, Big Oil is signaling strength and stability even as global uncertainty clouds the outlook for the rest of the year.
- 9 months, 2 weeks
CREATING SOLAR PANELS THAT CONVERT CARBON DIOXIDE INTO FUEL.
Researchers have created a groundbreaking type of solar panel, dubbed an "artificial leaf," that uses only sunlight to convert carbon dioxide into liquid fuels and other high-value chemicals.
- 9 months, 2 weeks
GULF STATES PLAN $6 BILLION IN AFRICA INVESTMENTS.
Gulf countries are making bold moves to transform Africa’s energy landscape with a $6 billion investment in oil and renewable projects. This game changing initiative promises to boost energy access, fuel economic growth, and deepen global partnerships discover how this strategic shift could reshape the future of energy across two continents.
- 9 months, 2 weeks
IMF CUTS 2025 MENA GROWTH FORECAST TO 2.6% AMID GLOBAL TRADE TENSIONS AND FALLING OIL PRICES.
The International Monetary Fund has lowered its 2025 growth forecast for the Middle East and North Africa to 2.6%, citing global trade tensions, falling oil prices, and regional economic pressures. As uncertainty grows, this update sheds light on the challenges ahead and the urgent reforms needed to stabilize and strengthen the region’s economy. Don’t miss the full story behind this critical economic shift.
- 9 months, 2 weeks
TOTALENERGIES Q1 PROFITS FALL ON LOWER OIL PRICES, WEAK REFINING MARGINS.
TotalEnergies experienced a 17% drop in Q1 2025 profits, bringing in $4.2 billion, mainly due to declining oil prices and weak refining margins in Europe. However, the company offset some of the impact with a 4% rise in oil and gas output and an 18% boost in electricity generation, showing resilience in its diversified energy portfolio.
- 9 months, 2 weeks
OIL AND GAS INVESTOR AFREXIMBANK EARNARK $3 BILLIONS TO SUPPORT LOCALLY REFINED PRODUCTIONS.
Africa is taking charge of its energy future! Afreximbank has launched a bold $3 billion initiative to boost local refining and cut dependence on costly fuel imports. With major investments already fueling new refineries and a vision to triple Africa’s refining capacity, the continent is gearing up for an energy revolution.
- 9 months, 3 weeks
ENI COMFIRMS OIL DISCOVERY IN NAMIBIA'S OFFSHORE.
A major offshore oil discovery in Namibia’s Orange Basin is drawing global attention, marking a significant milestone for the country’s energy ambitions. The Capricornus 1-X well has delivered highly promising results, with excellent reservoir quality, 38 meters of net pay, and light oil with minimal impurities—positioning it as a commercially attractive find. Operated by Rhino Resources and supported by global players like Eni and bp through Azule Energy, this discovery not only highlights the geological richness of the region but also reinforces investor confidence in Namibia’s growing role in the global oil and gas landscape.
- 9 months, 3 weeks
MOROCCO AND NIGERIA JOIN FORCES ON LANDMARK $25 BILLION GAS PIPELINE PROJECT.
In a world grappling with energy insecurity and shifting power dynamics, Africa is making a bold move that could reshape the global energy map. Morocco and Nigeria have sealed a historic $25 billion deal to construct a massive transcontinental gas pipeline, stretching across 13 countries and ending in Europe. This is more than just a pipeline it's a lifeline for regional development, a strategic lever in global energy diplomacy, and a clear signal that Africa is no longer waiting to be invited to the table it’s building its own. With a floating LNG terminal planned in Nador and major infrastructure ties already underway, this project has the potential to unlock economic growth across West Africa while offering Europe a stable and long-term energy partner. The stakes are high, the ambition is real, and the message is clear. Africa is ready to lead.
- 9 months, 3 weeks
BALLYMORE LAUNCHES; A STRATEGIC BOOST FOR GLOBAL OFFSHORE OIL PRODUCTON AND INVESTEMENT.
TotalEnergies and Chevron have officially launched the Ballymore oil field, a major milestone in offshore oil production. This innovative project is not only set to boost energy output but also highlights the evolving dynamics of global energy markets. With a focus on efficiency and sustainability, Ballymore offers a strategic opportunity for investors to tap into the growing demand for reliable energy resources. Read on to explore how this project could shape the future of energy and impact investment strategies worldwide.
- 9 months, 4 weeks
CHINA'S ABSENCE FROM UK ENERGY SUMMIT SIGNALS GROWING GEOPOLITICAL TENSIONS AND ITS IMPACT ON GLOBAL ENERGY COLABORATION.
China's decision to skip the UK-hosted energy summit marks a significant escalation in global geopolitical tensions, affecting energy security and clean energy goals. As the world's largest energy consumer, China's absence could shift the dynamics of international collaboration on climate and energy policies. This development is a crucial signal for anyone following the future of energy relations and the impact of diplomacy on global energy transitions.
- 10 months
WORLD BANK FORECASTS OIL GLUT AND PRICE DROP IN 2025.
The World Bank warns that an oversupply of oil could drive prices to their lowest in five years, even if conflicts in the Middle East escalate. With global demand slowing especially in China and non-OPEC countries boosting production, the oil market is bracing for a major shift. What does this mean for economies, investors, and fuel prices worldwide? Click to read the full story.
- 10 months
EU STRATEGY TO PHASE OUT RUSSIAN OIL AND GAS DUE IN MAY.
The European Commission will release a detailed plan on May 6 to phase out Russian oil and gas imports, aiming to end reliance by 2027. The roadmap has been delayed due to geopolitical factors, including U.S. trade policy and internal EU disagreements on Russian gas sanctions.
- 10 months
OIL PRICES STABILIZE AMID MIXED SIGNALS.
Oil prices have stayed largely stable despite fluctuating U.S. trade policies and a dip in global demand forecasts. With President Trump considering tariff changes, a rebound in Chinese oil imports, and key geopolitical tensions, the market faces a delicate balance. Find out how these factors are shaping the future of global oil prices and what it means for consumers and businesses alike.
- 10 months
ARAMCO MAKES NEW OIL AND GAS DISCOVERIES.
Saudi Aramco has just made a series of groundbreaking oil and gas discoveries in the Eastern Province and the Empty Quarter, unlocking vast new resources that will solidify Saudi Arabia's dominance in the global energy sector. These findings, including six oilfields, two oil reservoirs, and major natural gas fields, showcase the Kingdom's untapped potential, with significant flow rates of both crude oil and gas. This announcement not only highlights Aramco's continued excellence in exploration but also signals a strong future for Saudi Arabia's energy leadership, making it a must-watch development for anyone invested in the future of global energy.
- 10 months
US EIA WARNS OF LOWER OIL DEMAND FROM TARIFFS AND TRADE UNCERTAINTY.
The EIA has lowered its 2025 oil demand growth forecast to 900,000 bpd, down from 1.2 million bpd, citing trade tensions and tariffs. Oil prices are expected to drop, with Brent crude averaging $67.87 per barrel. OPEC+ is expected to increase supply, leading to a potential surplus and price pressure.
- 10 months, 1 week
INVEST IN AFRICAN ENERGY (IAE) 2025 TO HOST PANEL ON ADVANCING AFRICA’S LNG POTENTIAL.
Invest in African Energy (IAE) 2025 will host a high-level panel focused on unlocking Africa’s LNG potential by addressing key infrastructure, regulatory, and investment challenges. Industry leaders will explore strategies to accelerate project development and align LNG growth with both export goals and domestic energy needs.
- 10 months, 1 week
SHELL CUTS GAS OUTPUT FORECAST AMID CYCLONES AND MAINTENANCE ISSUES.
Shell has cut its first-quarter gas and LNG production forecasts due to unplanned maintenance and severe weather disruptions in Australia. Despite the challenges, the company remains focused on expanding its oil and gas operations while aiming to boost shareholder returns.
- 10 months, 1 week
PAKISTAN AND TÜRKİYE SIGN OFFSHORE OIL AND GAS EXPLORATION PACT.
Pakistan and Türkiye have signed a joint bidding agreement to explore 40 offshore oil and gas blocks in Pakistan. The deal aims to attract foreign investment and strengthen energy cooperation between the two countries.
- 10 months, 1 week
SHELL COMPLETES ACQUISITION OF PAVILION ENERGY.
Shell has completed the acquisition of Pavilion Energy, integrating its LNG supply contracts, regasification capacity, and bunkering operations into Shell’s portfolio. This move strengthens Shell’s position in the LNG market and supports its strategy to grow LNG sales by 4-5% annually through 2030.
- 10 months, 2 weeks
EACOP SECURES FIRST TRANCHE OF FINANCING FOR UGANDA-TANZANIA PIPELINE.
EACOP Ltd. has secured the first tranche of financing for the Uganda-Tanzania pipeline from regional financial institutions, including Afreximbank and Standard Bank, reinforcing local support despite initial Western withdrawals. The project, now over 50% complete, is expected to transport 246,000 barrels of crude oil per day while generating jobs, investing in local economies, and adhering to international environmental standards.
- 10 months, 2 weeks
INDIA CONSIDERS REMOVING TAX ON U.S. LNG TO HIKE IMPORTS.
India is considering the possibility of removing its import tax on American liquefied natural gas (LNG) to increase its purchases of U.S. LNG and reduce its trade surplus with the United States.
- 10 months, 3 weeks
GAS FIELD GETS GREEN LIGHT TO PRODUCE 62,000 BARRELS PER DAY OF OIL EQUIVALENT.
BP has given the final approval to develop the Ginger gas field in Trinidad and Tobago, a significant project expected to produce 62,000 barrels of oil equivalent per day at its peak.
- 10 months, 3 weeks
EAST AFRICA’S ENERGY RENAISSANCE: EAST AFRICAN CRUDE OIL PIPELINE (EACOP), TANZANIA LIQUEFIED NATURAL GAS (LNG) SET TO TRANSFORM THE REGION.
East Africa is set for an energy transformation with the East African Crude Oil Pipeline (EACOP) and Tanzania LNG projects, attracting significant investment and global interest. These projects, expected to drive economic growth, still require additional funding, with discussions ongoing to secure financial backing and strategic partnerships.
- 10 months, 3 weeks
EAST AFRICAN CRUDE OIL PIPELINE PROJECT SECURES MASSIVE FINANCIAL INJECTION FROM AFRICAN BANKS.
The East African Crude Oil Pipeline project has received a substantial financial boost from a consortium of African banks, demonstrating confidence in the project’s regional impact. The funds will aid in the construction of a 1,443 km pipeline that will transport 246,000 barrels of crude oil per day once completed, with progress already exceeding 50% by the end of 2024.
- 10 months, 3 weeks
KENYA TO LAUNCH OIL AND GAS LICENSING ROUND IN SEPTEMBER.
Kenya plans to launch an oil and gas exploration round for 10 blocks in September, offering incentives and infrastructure investment to attract investors. The government has restructured its petroleum exploration blocks to align with global best practices, identifying highly prospective areas to revitalize the country's oil and gas industry.
- 10 months, 3 weeks
TANZANIA: EWURA, ERB TO ENHANCE ENERGY COLLABORATION.
EWURA and ERB have agreed to enhance their collaboration to improve energy services in Tanzania and Zambia. Key areas of cooperation include exchanging technical knowledge, building capacity, and ensuring efficient regulation, with the joint inspection of the TAZAMA Oil Pipeline being a major achievement of their partnership.
- 10 months, 3 weeks
ANGOLA'S OIL SECTOR ATTRACTS VIETNAMESE COMPANY.
Angola's oil sector continues to draw international attention as exploration efforts persist in the search for a reliable energy supply.
- 10 months, 3 weeks
ANALYSTS EXPECT SHELL TO FOCUS ON LNG AND OIL IN STRATEGY UPDATE.
Shell is expected to emphasize its focus on oil and liquefied natural gas (LNG) during its strategy update, reinforcing its shift away from retail clean energy sales. Analysts will look for insights on Shell’s long-term growth plans, particularly in LNG, as global demand is projected to rise by 60% through 2040.
- 10 months, 3 weeks
SAUDI ARAMCO SEEKS NEW DEALS IN CHINA'S REFINING AND PETROCHEMICAL SECTOR.
China plays a pivotal role in Saudi Aramco’s growth strategy, particularly in the downstream sector, as the company seeks to unlock new opportunities.
- 10 months, 3 weeks
BRITAIN'S BP SELLS STAKE IN TANAP TRANS-ANATOLIA GAS PIPELINE.
BP, the British multinational energy company, has agreed to sell a stake in the Trans-Anatolian Gas Pipeline (TANAP) to Apollo Global Management for one billion US dollars.
- 10 months, 4 weeks
FIRST SHIPMENT OF OIL FROM A FIELD WITH RESERVES OF 650 MILLION BARRELS SOLD.
Equinor, Norway's energy company, has sold its first oil shipment from the Johan Kastberg field in the Barents Sea, ahead of the field's expected production starting next month.
- 11 months
TANZANIA: PURA BOARD OF DIRECTORS VISITS SONGO SONGO, HIGHLIGHTS CSR PROJECT IMPLEMENTATION.
The PURA Board of Directors visited Songo Songo to assess natural gas infrastructure and CSR project implementation by energy companies. They expressed satisfaction with improved community projects and emphasized the importance of continued oversight in the gas sector.
- 11 months
OIL PRICES RISE ON STRONG DEMAND OUTLOOK, WEAKER US DOLLAR.
Oil prices rose due to strong U.S. demand and a weaker dollar, with Brent crude reaching $71.12 per barrel and WTI at $67.58. While geopolitical tensions and economic uncertainties may cause volatility, analysts expect a gradual upward trend in oil prices.
- 11 months
AFRICA’S OIL AND GAS INVESTMENT TO HIT $43 BILLION IN 2025.
Africa’s oil and gas sector is set to attract $43 billion in investments in 2025, with projections reaching $54 billion by 2030, driven by major players in West and North Africa. While liquid hydrocarbons will continue to dominate, natural gas investments are steadily increasing, positioning Africa as a key player in the global energy market.
- 11 months
ISRAEL AWARDS NATURAL GAS EXPLORATION LICENCES TO BP, SOCAR AND NEWMED.
Israel has awarded exploration licenses to BP, Socar, and NewMed Energy to explore natural gas in Israeli waters, aiming to boost domestic reserves and expand exports. This partnership supports Israel's goal to position itself as a regional energy hub, with a focus on supplying gas to Europe and neighboring countries.
- 11 months
TANZANIA: NEXT ROUND OF OIL, GAS EXPLORATION BLOCKS LICENSING SET FOR MAY 2025.
Tanzania is set to launch a licensing round for oil and gas exploration blocks in May 2025, offering significant opportunities with 57 trillion cubic feet of natural gas reserves. This move aims to attract investment in oil, gas, and renewable energy while continuing efforts to develop its energy sector, including a $42 billion liquefied natural gas facility.
- 11 months
WATER WOES IN OIL AND GAS REGULATIONS ACROSS STATE LINES.
Oil and gas regulations in Texas and New Mexico, particularly in the Permian Basin, are becoming increasingly complex due to differing state laws on water management. With changes set to take effect in 2025, companies must navigate these challenges to ensure compliance and sustainability across state lines.
- 11 months, 1 week
CHINA: CREATING DUSTPROOF SOLAR PANELS.
A leading Chinese company, Longi, has introduced a new line of dustproof solar panels, continuing its commitment to providing sustainable energy solutions.
- 11 months, 1 week
OIL COMPANIES ANNOUNCE HEFTY ROLLBACK IN FUEL PRICES.
Oil companies have announced a significant price rollback on diesel, gasoline, and kerosene, effective March 11, following a decrease in global oil prices. The Department of Energy also urged compliance with the LPG Industry Regulation Act (LIRA) to ensure safety and prevent penalties in the LPG sector.
- 11 months, 1 week
PRESIDENT HUSSEIN ALI MWINYI CALLS FOR REGIONAL PETROLEUM FUND TO BOOST OIL, GAS INDUSTRY.
Zanzibar President Hussein Ali Mwinyi has called on EAC member states to establish a regional petroleum fund to address financing challenges in the oil and gas sector, citing global activism and shifting priorities of traditional financiers as major obstacles. He emphasized the need for financial independence, regional cooperation, and infrastructure development to secure East Africa’s energy future.
- 11 months, 1 week
OIL DISCOVERY IN GABON PROMISES INCREASED RESERVES.
Gabon has recently made a significant oil discovery that is expected to increase its oil wealth as it is successfully developed and brought into production, according to the Washington-based Specialized Energy Platform’s oil and gas databases.
- 11 months, 1 week
ROMANIAN GAS PROJECT WITH RESERVES OF 100 BILLION CUBIC METERS SIGNS TWO IMPORTANT CONTRACTS.
A significant milestone has been achieved in Romania’s Neptun Deep gas project, which is set to exploit recoverable reserves of 100 billion cubic meters beneath the Black Sea.
- 11 months, 1 week
SAUDI ARAMCO MULLS NEW ACQUISITION.
Saudi Aramco is reportedly exploring the possibility of acquiring BP's lubricant assets as part of its ongoing expansion into the refining and chemicals sectors, according to a recent Bloomberg report.
- 11 months, 2 weeks
TURKISH ENERGY BENEFITS FROM GLOBAL UPHEAVAL.
Turkish President Recep Tayyip Erdoğan has been strategically working to position Turkey as a key energy hub, linking natural gas producers in the east and south with markets in the west.
- 11 months, 2 weeks
DANGOTE REFINERY ORDERS ALGERIAN CRUDE OVER LOCAL SHORTFALL.
The Dangote Petroleum Refinery secured its first shipment of one million barrels of Algeria’s Saharan Blend crude due to local supply shortages, despite Nigeria increasing its crude production. To diversify its supply sources and optimize refining efficiency, the refinery is also exploring long-term crude agreements with international suppliers like the U.S. and Brazil.
- 11 months, 2 weeks
CHINA’S LNG IMPORTS SLUMP TO 5-YEAR LOW.
China's LNG imports fell to a five-year low of 4.5 million tons in February due to weak demand, lower industrial activity, and high gas storage levels. Additionally, a 15% retaliatory tariff on U.S. LNG imports could further impact future trade flows and long-term energy agreements.
- 11 months, 2 weeks
SHELL SEES LNG DEMAND JUMPING 60% BY 2040.
Shell forecasts a 60% rise in global LNG demand by 2040, driven by Asia’s economic growth, decarbonization efforts, and AI energy needs. Despite short-term uncertainties, LNG supply is set to expand, with the U.S. and Qatar leading production growth.
- 11 months, 3 weeks
BP SLASHES GREEN INVESTMENT.
BP plans to cut its renewable energy investments and increase oil and gas production due to investor pressure over low profits. This shift follows a broader industry trend, with major oil companies scaling back green energy commitments despite environmental concerns.
- 11 months, 3 weeks
OIL RISES ON RUSSIA DISRUPTION WORRIES, US FUEL STOCKS DRAW.
Oil prices rose for the third consecutive day due to falling US fuel inventories and concerns over Russian supply disruptions. While US crude stockpiles increased, gasoline and distillate supplies declined, supporting price gains. Geopolitical tensions, including Russian attacks on Ukrainian gas infrastructure and disruptions in Kazakh oil exports, further fueled supply concerns. However, economic uncertainties, including potential trade tariffs and weakening global demand, could limit future price increases.
- 11 months, 3 weeks
TRUMP PUSHES JAPAN TO INVEST IN ALASKAN LNG TO STRENGTHEN US-ASIA ENERGY TIES.
Former President Trump pushed Japan to invest in the Alaskan LNG project to enhance US-Asia energy cooperation. The move aimed to strengthen economic ties, reduce reliance on Middle Eastern and Russian energy, and secure long-term LNG exports.
- 11 months, 3 weeks
CHINA’S TARIFFS HIT U.S. COAL, OIL, AND LNG EXPORTS.
China has imposed tariffs on U.S. coal, oil, and LNG exports, significantly impacting coal trade as China seeks alternative suppliers like Mongolia and Australia. In response, U.S. coal exporters are shifting their focus to India, reshaping global energy trade dynamics.
- 11 months, 4 weeks
IN A MAJOR SHIFT, JAPEX TO PRIORITISE OIL AND GAS INVESTMENT THROUGH 2030.
Japex is shifting its focus to oil and gas exploration through 2030, moving away from aggressive renewable investments due to lower returns and rising costs. The company plans to increase its E&P investments, particularly in the U.S. and Norway, while maintaining a disciplined approach to financial stability and risk management.
- 11 months, 4 weeks
OVER 70 BLOCKS PICKED FOR OIL, GAS EXPLORATION.
Over 70 exploration blocks have been selected to boost the country’s oil and gas sector, attracting global investment and creating new opportunities for economic growth. The government aims to balance resource extraction with environmental protection, ensuring long-term benefits and energy security.
- 11 months, 4 weeks
EAPCE’25 - To Shape East Africa’s Energy Future.
EAPCE’25 provides a platform for governments and investors to engage in critical discussions about the region’s energy future
- 12 months
TANZANIA HOPES TO CONCLUDE TALKS FOR LNG PROJECT BY JUNE.
Tanzania is negotiating tax incentives with investors to advance a stalled $42 billion LNG project, with talks expected to conclude by June. Additionally, the country is progressing on a pipeline project to transport Ugandan crude oil, with 47% of its construction completed and expected to be finished in 36 months.
- 12 months
TRUMP APPROVES LNG EXPORTS, CREATES ENERGY COUNCIL TO BOOST US OIL, GAS.
President Trump approved the Commonwealth LNG project's export license, aiming to supply LNG to Asia and Europe, while also boosting U.S. energy security and reducing Europe's reliance on Russian gas. Additionally, Trump signed an executive order creating an energy council to expand U.S. oil and gas production, with plans for offshore drilling and a new natural gas pipeline to reduce regional energy prices.
- 12 months
ADNOC SECURES FIVE-YEAR LNG SUPPLY DEAL WITH INDIA’S BPCL.
ADNOC has secured a five-year LNG supply deal with India's BPCL, providing 40 cargoes totaling 2.5 million tonnes, set to start in April 2025. This agreement, along with a similar deal with Indian Oil Corporation, aligns with India’s goal to increase its gas share in the energy mix by 2030.
- 1 year
INDIA OPENS LARGEST OIL & GAS BID ROUND: 25 BLOCKS ON OFFER.
India has launched its largest oil and gas bid round, offering 25 blocks for exploration and development. This move aims to attract investors, boost domestic production, and strengthen energy security.
- 1 year
INDIAN LNG BUYERS NEGOTIATE US DEALS AHEAD OF MODI-TRUMP SUMMIT.
Indian LNG importers are in talks with US suppliers to secure long-term deals ahead of Prime Minister Modi’s meeting with President Trump, as India seeks to strengthen trade ties and secure energy supplies. The discussions, influenced by government pressure and trade negotiations, reflect a broader trend of countries increasing US LNG imports to ease trade tensions.
- 1 year
CANADIAN OIL LOOKING FOR ALTERNATIVE WAYS TO EXPORT AWAY FROM AMERICA.
Canada's oil industry is exploring new shipping routes to lessen its dependence on the United States following threats from U.S. President Donald Trump to impose tariffs on Canadian energy imports.
- 1 year
TOTALENERGIES POSTS DROP IN FOURTH-QUARTER PROFIT ON WEAK OIL DEMAND.
TotalEnergies reported a 15% decline in its fourth-quarter profit due to weak oil demand and lower crude prices. However, higher electricity sales and strong liquefied natural gas (LNG) trading helped offset some of the losses.
- 1 year
UK CONSIDERS WITHDRAWING $1-BILLION FINANCING FOR MOZAMBIQUE LNG.
The UK government is reconsidering its $1.15 billion financing for the Mozambique LNG project, seeking legal advice on whether it is still obligated to support it. The project, led by TotalEnergies, has faced delays due to security risks and political instability. The Labour government is cautious about withdrawing support due to potential legal consequences. Meanwhile, TotalEnergies has postponed the project restart amid ongoing violence and election-related disputes in Mozambique, further threatening the 2029 production timeline.
- 1 year
AFRICAN GOVERNMENTS OPT FOR GAS-RUN CARS OVER EVS TO DRIVE DOWN TRANSPORT EMISSIONS.
African governments are promoting compressed natural gas (CNG) as a more affordable and lower-emission alternative to petrol and diesel, offering incentives for vehicle conversions. However, critics argue that relying on CNG still ties countries to fossil fuels, delaying the transition to fully electric transportation.
- 1 year
SOUTH KOREA FOUND TO HAVE 14 ADDITIONAL OFFSHORE OIL AND GAS PROSPECTS.
A U.S. geoscience exploration firm, Act-Geo, has identified 14 additional oil and gas prospects in South Korea’s East Sea, with potential reserves ranging from 680 million to 5.17 billion barrels. South Korea, which imports nearly all its fossil fuels, hopes to begin resource extraction by mid-2024 and targets commercial production by 2035.
- 1 year
CZECHIA HAS WEANED ITSELF OFF RUSSIAN OIL AND GAS, INSISTS ENERGY SECURITY ENVOY.
The Czech Republic has significantly reduced its dependence on Russian oil and gas by securing alternative energy sources and expanding infrastructure. Despite criticism over continued Russian energy spending, the government maintains that full independence is imminent, with U.S. pressure expected to further influence European energy policies.
- 1 year
TANZANIA: TAZAMA PIPELINE CAPACITY SURGES .
The Tanzania–Zambia Crude Oil Pipeline (TAZAMA) has increased its fuel transport capacity to 1.2–1.3 billion litres annually by introducing a Drag Reduction Agent (DRA) that reduces friction and enhances efficiency. This innovation significantly boosts daily fuel flow, providing economic benefits to both Tanzania and Zambia while avoiding costly pipeline expansions.
- 1 year
MALAYSIA'S PETRONAS AIMS TO BOOST OIL AND GAS OUTPUT OVER NEXT 3 YEARS.
Petronas plans to increase Malaysia’s oil and gas production to 2 million barrels of oil equivalent per day between 2025 and 2027 through key projects and exploration activities. The company aims to drill over 400 wells and execute 39 upstream projects, including offshore platforms, onshore facilities, and extensive pipeline installations.
- 1 year
SOUTH PARS COMPLEX BOOSTS IRANIAN GAS PRODUCTION BY 165 BILLION CUBIC METERS.
In recent months, Iran's gas production has seen a significant boost, largely driven by the South Pars complex, as part of the country's efforts to meet domestic demand.
- 1 year
PETROBRAS INCREASES OIL AND GAS RESERVES TO 11.4 BILLION BARRELS.
Petrobras has increased its proven oil and gas reserves to 11.4 billion barrels of oil equivalent (boe) in 2024, up from 10.9 billion boe in 2023, mainly due to advancements in key offshore fields. The company emphasizes the need for continued investment in exploration and recovery to sustain future production.
- 1 year
5.4 MILLION BARRELS OF IRANIAN OIL LEAVE CHINA.
Iran's oil industry is facing new challenges as it grapples with the impending pressure of US sanctions and mounting debt owed to China.
- 1 year
LEBANESE OFFICIAL REQUESTS CANCELLATION OF GAS EXPLORATION AGREEMENT WITH TOTAL.
Walid Fayyad, the Lebanese caretaker Minister of Energy, has confirmed that the French energy company Total has failed to meet the terms of its agreement regarding gas exploration in Lebanon.
- 1 year
INDIA UPS EFFORTS TO SEEK ALTERNATIVES TO RUSSIAN OIL.
India is seeking alternatives to Russian oil as new U.S. sanctions target tankers and entities transporting Russian crude, challenging its current supply chain. While Russia remains a key supplier, India is diversifying its imports by strengthening ties with Middle Eastern exporters and expanding its supplier base to ensure energy security.
- 1 year
LIBYA PLANS TO INCREASE OIL, GAS PRODUCTION TO 2 MLN BARRELS PER DAY OVER NEXT 3 YEARS.
Libya's National Oil Corporation (NOC) plans to boost daily oil and gas production to two million barrels within three years, focusing on recovery, refining, and private sector collaboration. Despite political challenges, the NOC has already increased production to 1.41 million barrels per day, showcasing significant progress in the country's vital oil sector.
- 1 year
LPG SHIPMENT FROM ALGERIA TO ARAB COUNTRY.
In a significant demonstration of energy cooperation among Arab nations, Algeria has sent a shipment of liquefied natural gas (LPG) to Tunisia to help meet the country's rising domestic demand.
- 1 year
AFRICA STARTS YEAR WITH A SMALL LNG OFFERING FOR THE WORLD.
Africa is beginning to unlock its LNG export potential, with BP launching first gas at the Greater Tortue Ahmeyim (GTA) project offshore Mauritania and Senegal after overcoming delays and challenges. This milestone highlights the continent’s capacity to execute complex energy projects, signaling its growing role in the global LNG market.
- 1 year
TOTALENERGIES LAUNCHES ARTAWIGAS25 PROJECT TO BOOST IRAQ'S ENERGY SUPPLY AND REDUCE GAS FLARING.
TotalEnergies, along with its partners Basra Oil Company and QatarEnergy, has launched the construction of the ArtawiGas25 facility to process associated gas from Iraq’s Ratawi field. The project is part of the $10 billion Gas Growth Integrated Project, aimed at reducing gas flaring and improving the country's energy supply.
- 1 year, 1 month
WAVE OF NEW LNG SUPPLY FUELS GLUT FEARS.
The global LNG market is poised for a major shift as the U.S. and Qatar expand their export capacities, potentially leading to an oversupply by the late 2020s. However, rising demand from Asia, Europe, and emerging sectors like data centers could absorb the surplus and stabilize prices, depending on geopolitical and market dynamics.
- 1 year, 1 month
SAUDI OIL EXPORTS TO CHINA SET FOR FEBRUARY DECLINE.
Saudi Arabia’s crude oil exports to China are expected to drop from 46 million barrels in January to 43.5 million barrels in February. The decline follows Aramco's decision to raise the price of its flagship Arab Light crude for February deliveries by $0.60 per barrel.
- 1 year, 1 month
EUROPE'S LNG IMPORTS SURGE AMID WINTER ENERGY DEMAND.
Europe’s LNG imports soared to an 11-month high in December 2024, driven by early winter cold snaps and depleted gas storage levels. U.S. LNG played a crucial role, accounting for half of the imports, as Europe prepared for ongoing energy demand and future storage replenishment.
- 1 year, 1 month
SAUDI DRILLING COMPANY AWARDED FIRST-OF-ITS-KIND CONTRACT IN WEST AFRICA.
A Saudi-based drilling company has secured its first contract in West Africa, marking a significant milestone in expanding its operational footprint across global markets.
- 1 year, 1 month
BP FLOWS FIRST GAS AT GREATER TORTUE AHMEYIM LNG PROJECT.
BP has safely begun flowing gas from Greater Tortue Ahmeyim (GTA) Phase 1, one of the deepest, most complex gas developments in Africa. The 2.3 million tonnes per annum (mtpa) LNG project is expected to contribute to meeting global energy needs.
- 1 year, 1 month
BIDEN BANS NEW OIL AND GAS DRILLING ALONG MOST U.S. COASTS.
President Biden announced a permanent ban on oil and gas drilling across 625 million acres of U.S. coastal waters, citing environmental and economic risks. Biden’s executive order blocks new drilling along the Eastern Seaboard, the Pacific Coast, the eastern Gulf of Mexico, and the Northern Bering Sea in Alaska.
- 1 year, 1 month
THREE ELECTRIC TUGBOATS TO BE BUILT AT THE LARGEST PORT FOR U.S. OIL EXPORTS.
A group of companies is utilizing a government grant to fund the construction of three electric tugboats at the Port of Corpus Christi, Texas, one of the largest U.S. oil export hubs.
- 1 year, 1 month
UGANDA PLANS THIRD OIL EXPLORATION LICENSING ROUND.
Uganda plans to launch its third oil exploration licensing round in July 2025, alongside commencing crude oil production in the Albertine Graben basin after years of delays. Additionally, the government is reviving the dormant Kilembe copper mine, which holds significant reserves of copper and cobalt, to boost economic growth.
- 1 year, 1 month
MALAWI TURNS TO TANGA PORT FOR ITS FUEL DELIVERY.
Malawi's Ministry of Energy has opted to use Tanzania's Tanga Port for emergency fuel deliveries, bypassing congested traditional ports to ensure timely supply. This decision, accompanied by a 51-million-litre fuel shipment from the UAE, reflects the government’s proactive approach to stabilizing the nation’s fuel market.
- 1 year, 1 month
UKRAINE ENDS RUSSIAN GAS PIPELINE TO EUROPE – BUT HOW MUCH WILL IT COST MOSCOW?.
Ukraine has stopped Russian gas flows through its pipelines to Europe, marking a significant shift in energy supplies. This move will cost Russia billions in lost revenue and reduce its leverage over European energy markets.
- 1 year, 1 month
BUDGET-FRIENDLY BIODIESEL PRODUCTION IN AFRICA.
Homemade biodiesel production is gaining momentum across Africa as a cost-effective, eco-friendly alternative to fossil fuels, utilizing waste vegetable oil and simple DIY setups. By leveraging local resources, community collaboration, and continuous learning, individuals can create sustainable energy solutions while reducing environmental waste and fuel expenses.
- 1 year, 1 month
TANZANIA: PUBLIC NOTICE ON CAP PRICES FOR PETROLEUM PRODUCTS EFFECTIVE WEDNESDAY, 1ST JANUARY 2025.
The Energy and Water Utilities Regulatory Authority (EWURA) has announced new cap prices for petroleum products in Tanzania Mainland, effective 1st January 2025, ensuring transparent and regulated pricing for consumers and retailers. The notice outlines FOB price trends, exchange rate impacts, and compliance requirements, emphasizing penalties for non-adherence and promoting competitive practices in the petroleum sector.
- 1 year, 1 month
AN OIL AND GAS FIELD IN AFRICA EXPANDS PRODUCTION.
A major oil and gas field in West Africa is advancing plans to develop over two billion barrels of reserves, significantly increasing production in Ivory Coast.
- 1 year, 1 month
80 POWER STATIONS IN IRAN OUT OF SERVICE DUE TO FUEL SHORTAGES.
Approximately 80 power plants in Iran have ceased operations due to a shortage of natural gas and liquid fuels, worsening the ongoing power crisis in the country.
- 1 year, 1 month
INDIA TAKES THE LEAD IN OIL DEMAND GROWTH.
Between 1998 and 2023, China consistently outpaced India in terms of oil demand growth. However, in 2024 and 2025, this trend is set to shift, with India emerging as the primary driver of global oil consumption growth.
- 1 year, 1 month
AUSTRALIA: DISMANTLING OF HUGE OFFSHORE PLATFORMS TO BEGIN IN 2027.
Preparations are underway for the largest offshore platform dismantling project in Australia, marking a significant milestone in the country’s oil and gas sector.
- 1 year, 1 month
TANZANIA: SAM NUJOMA CNG STATION IN DAR ES SALAAM 67 PERCENT COMPLETE, SET TO OPEN JANUARY 2025.
The Sam Nujoma CNG station in Dar es Salaam is 67% complete and is expected to open in January 2025. Once finished, it will significantly contribute to meeting the growing demand for compressed natural gas in the region.
- 1 year, 1 month
PETRONAS AND PETROS COLLABORATION KEY TO OIL AND GAS INDUSTRY GROWTH, SAYS PM ANWAR.
Prime Minister Datuk Seri Anwar Ibrahim emphasized the collaboration between Petronas and Petros to drive growth in the oil and gas industry, ensuring Petros emerges as a key player while respecting Petronas' national role. He confirmed that discussions on gas distribution have been resolved, with details being finalized in coordination with Sarawak Premier Tan Sri Abang Johari Openg.
- 1 year, 1 month
BIDEN NEGLECTS OIL AND GAS ON AFRICA TRIP.
President Biden's visit to Angola highlighted U.S. investments in clean energy projects like solar power and the Lobito Corridor, aiming to bolster U.S.-Africa relations and counter China’s influence. However, critics argue that Angola's immediate energy and economic needs are better served by leveraging its abundant oil and gas reserves, which require addressing corruption and security challenges.
- 1 year, 1 month
TRUMP DEMANDS EU BUY MORE US OIL AND GAS OR FACE TARIFFS.
President-elect Donald Trump has demanded that the EU purchase more US oil and LNG to address trade imbalances, threatening tariffs if his demands are not met. While the EU explores replacing Russian gas with US imports, officials are prepared to counter any trade aggression with strengthened measures to protect the bloc’s interests.
- 1 year, 1 month
SHELL TRADED NIGERIA EXIT FOR FRESH OIL INVESTMENT.
Shell secured the Nigerian government’s approval for a $2.4 billion asset sale to Renaissance Group by committing to a $5 billion investment in the Bonga North deepwater oil project, expected to produce 110,000 barrels per day by the decade’s end. The government prioritized this investment to ensure Shell's continued presence in Nigeria’s oil sector amid efforts to boost production and revenue.
- 1 year, 1 month
EQUINOR DISCOVERS OIL AND GAS NEAR TROLL FIELD IN THE NORTH SEA.
Equinor has discovered oil and gas near the Troll field in the North Sea, with the Ringand discovery estimated to contain between 2 and 12 million barrels of oil equivalent. The company plans further exploration in the area, which is close to existing infrastructure, to maximize resource utilization and support Norway’s oil and gas production.
- 1 year, 1 month
THE UNITED STATES IS BUYING RUSSIAN LIQUEFIED NATURAL GAS FROM INDIA AND SELLING IT TO EUROPE AT INFLATED PRICES.
The United States is buying Russian gas from India and reselling it to Europe at higher prices, capitalizing on market dynamics amid ongoing geopolitical tensions. Europeans are aware of the source, but the gas is marketed as "democratic gas of freedom," having undergone a process of purification, despite the inflated costs.
- 1 year, 1 month
SEPLAT ENERGY PLANS TO REVITALIZE OLD OIL WELLS IN NIGERIA AFTER ACQUISITION OF EXXONMOBIL ASSETS.
Seplat Energy, a prominent Nigerian oil and gas company, is preparing to rejuvenate old oil wells across Nigeria, following its successful acquisition of ExxonMobil’s onshore oil and gas assets in the country.
- 1 year, 2 months
SYRIA: NISHAN FIELD HAS PRODUCTION LEVEL OF 1,100 BARRELS PER DAY RENEWS HOPES OF OIL PRODUCTION.
The Nishan oil field, located in Syria's Deir Ezzor province, has long been a vital source of the country’s oil production, particularly before the outbreak of the war in 2011.
- 1 year, 2 months
U.S. GAS PRICES DROP TO LOWEST LEVELS.
U.S. gas prices hit an all-time low in November, reaching their lowest inflation-adjusted levels, according to a recent report from the Washington-based Energy Research Unit.
- 1 year, 2 months
APRIPERF AND AFRICA’S DESIRE TO PROTECT ITS OIL AND GAS ASSETS.
The 26th Ministerial Meeting of the Gas Exporting Countries Forum (GECF) was held in Tehran, bringing together key officials from member and observer states to discuss global energy security and the future of natural gas. The forum highlighted rising global demand for natural gas and its members' significant role in controlling the world’s gas reserves and exports.
- 1 year, 2 months
IRAN HOSTS MINISTERIAL MEETING OF GAS EXPORTING COUNTRIES FORUM.
The 26th Ministerial Meeting of the Gas Exporting Countries Forum (GECF) was held in Tehran, bringing together key officials from member and observer states to discuss global energy security and the future of natural gas. The forum highlighted rising global demand for natural gas and its members' significant role in controlling the world’s gas reserves and exports.
- 1 year, 2 months
ZANZIBAR ACKNOWLEDGES PUMA IN DRIVING SUSTAINABLE ENERGY AGENDA SOLUTIONS.
Zanzibar's Minister for Water, Energy, and Minerals, Mr. Shaib Hassan Kaduara, praised Puma Energy Tanzania for its support in advancing sustainable energy solutions and contributing to the region's economic growth. The company’s investments in the aviation sector, community projects, and the opening of its first fuel station in Zanzibar underscore its commitment to enhancing energy access and fostering development.
- 1 year, 2 months
DR. IBRAHIM AL-MUHANNA HIGHLIGHTS OIL MARKET OUTLOOK AND ENERGY TRANSITION STRATEGIES FOR 2025.
Dr. Ibrahim Al-Muhanna expressed optimism for the oil market in 2025, emphasizing OPEC’s role in maintaining stability. He highlighted the importance of reducing emissions while continuing to prioritize oil in meeting global energy demand.
- 1 year, 2 months
BP SEEKS BUYERS FOR US NATURAL GAS PIPELINE SYSTEM STAKE.
BP is seeking buyers for a stake in its U.S. natural gas pipeline network, potentially raising up to $3 billion to reduce its growing debt. This sale is part of CEO Murray Auchincloss's strategy to improve the company's financial performance amid investor pressure and ongoing concerns about its energy transition plans.
- 1 year, 2 months
NANKABIRWA: UGANDANS IMMENSELY BENEFITING FROM OIL AND GAS SECTOR.
Uganda's oil and gas sector has significantly reduced unemployment, with 90% of its workforce being locals, including many from communities directly involved in the industry. Efforts to promote local participation include extensive training programs, joint ventures, and a focus on providing goods and services through Ugandan companies, contributing to the country's economic growth.
- 1 year, 2 months
ARAMCO, TOTALENERGIES, AND SIRC PARTNER ON SAF PRODUCTION IN SAUDI ARABIA.
Aramco, TotalEnergies, and SIRC have signed an agreement to develop a Sustainable Aviation Fuel (SAF) production unit in Saudi Arabia, using local residues like used cooking oil and animal fats. This collaboration supports Saudi Arabia's Vision 2030 and Green Initiative, aiming to reduce aviation emissions and promote a circular economy.
- 1 year, 2 months
CHEVRON'S $1 BILLION ANNUAL SPENDING BOOSTS NIGERIA'S OIL AND GAS SECTOR DEVELOPMENT.
Chevron's annual spending of approximately $1 billion on Nigerian suppliers is vital for the growth and sustainability of the country's oil and gas sector. The company remains committed to fostering local capacity, creating job opportunities, and supporting Nigeria’s long-term economic development through strong partnerships and investments.
- 1 year, 2 months
SHELL AND EQUINOR TO FORM UK OIL AND GAS JOINT VENTURE.
Shell and Equinor are merging their UK offshore oil and gas assets into an equal joint venture, expected to produce over 140,000 barrels of oil equivalent per day, with the deal to be finalized by 2025. The new entity will become the largest independent producer in the British North Sea, while both companies retain control over specific assets, including offshore wind and carbon capture projects.
- 1 year, 2 months
AFRICAN ENERGY CHAMBER URGES IVORY COAST TO CONTINUE BEING A HOME OF OIL & GAS (O&G) INVESTMENT.
Ivory Coast is becoming a major force in West Africa’s oil and gas sector, attracting significant investments through strong policies, local content initiatives, and innovative partnerships. With key projects like the Baleine field and new discoveries such as the Calao find, the country is positioning itself as a regional energy hub while focusing on sustainability and economic growth.
- 1 year, 2 months
SAIPEC 2025 CONFERENCE TO HIGHLIGHT MULTIBILLION OIL, GAS POTENTIALS.
SAIPEC 2025 will showcase multi-billion-dollar opportunities in Africa's oil and gas sectors, bringing together industry leaders and stakeholders. The conference will focus on advancing Africa's energy ambitions, promoting local content, and fostering partnerships across the continent.
- 1 year, 2 months
OIL RISES ON FEARS ABOUT LEBANON, FURTHER OPEC+ SUPPLY CUTS.
Oil prices rose over 2% due to rising tensions in Lebanon and the potential extension of OPEC+ supply cuts. While geopolitical risks in the Middle East and production cuts are supporting prices, weak global demand and rising U.S. inventories point to downward pressure on oil in the longer term.
- 1 year, 2 months
ALGERIA AND QATAR FACE SCRUTINY OVER LNG EMISSIONS IN EUROPE'S ENERGY SHIFT.
Algeria and Qatar, among Europe’s top LNG suppliers, are under scrutiny for high emissions linked to their gas exports. Reports highlight the environmental impact of LNG, raising concerns about its role in Europe’s transition to cleaner energy.
- 1 year, 2 months
STAKEHOLDERS DEMAND INVESTMENTS IN LNG, CNG, OTHER CLEANER ENERGY SOURCES IN NIGERIA.
At the 8th Energy Summit in Nigeria, stakeholders urged the government and African nations to invest heavily in LNG, CNG, and other clean energy solutions for a sustainable energy transition. Experts emphasized the need to stop gas flaring, utilize Africa's abundant resources, and prioritize clean energy over continued fossil fuel exploration.
- 1 year, 2 months
QATAR ENERGY SUPPLIES CHINA WITH MASSIVE LNG DEAL.
Qatar Energy signed a long-term agreement with Shell to supply China with 3 million tons of LNG annually, starting in January 2025, reflecting the growing global demand for energy. This partnership, expected to last at least 10 to 15 years, strengthens Qatar's role as a leading LNG supplier and supports China's position as the world's largest LNG market.
- 1 year, 2 months
OIL & GAS STOCK ROUNDUP: EQUINOR'S DISCOVERY, SHELL'S UKRAINE EXIT & MORE.
Oil prices saw a significant rise last week, driven by geopolitical tensions and a surge in natural gas demand, with notable developments from Equinor’s new discovery in the North Sea and Shell’s exit from Ukraine. Additionally, Petrobras, TC Energy, and BP also made major announcements, including large investment plans and innovative projects in the energy sector.
- 1 year, 2 months
SAUDI COMPANY ACHIEVES BOOM IN OIL PRODUCTION IN EGYPT.
Saudi company Addis Oilfield Services has significantly boosted oil production in Egypt's Ras Badran field, increasing output to 7,500 barrels per day just three months after starting operations. This success is part of a broader plan to invest up to $66 million in revitalizing aging oil fields in the Gulf of Suez, supporting Egypt's efforts to meet growing energy demand and reduce its import dependency.
- 1 year, 2 months
RUSSIAN FUEL FINDS A NEW STARTING POINT.
Russian fuel continues to reach European markets despite strict sanctions through the use of "shadow tankers" and alternative transshipment points.
- 1 year, 2 months
TRUMP PREPARES WIDE-RANGING ENERGY PLAN TO BOOST GAS EXPORTS, OIL DRILLING, SOURCES SAY.
Donald Trump's transition team is preparing an energy plan to boost oil and gas production, including approving new LNG export permits, expanding drilling on federal lands, and restarting the Keystone Pipeline. The plan also aims to roll back Biden-era climate regulations and replenish the Strategic Petroleum Reserve, prioritizing energy security and U.S. production.
- 1 year, 2 months
ENVOY UNDERSCORES ROLE OF OIL, GAS IN TZ, UGANDA.
Uganda and Tanzania are strengthening their economic partnership through the East African Crude Oil Pipeline (EACOP), with a focus on regional integration, job creation, and sustainable development in the oil and gas sector. The Uganda-Tanzania Oil and Gas Networking Forum highlighted the progress of the EACOP project, emphasizing capacity building, environmental protections, and increased employment opportunities for local communities.
- 1 year, 2 months
QATAR RAISES STAKE IN NAMIBIAN ORANGE BASIN.
QatarEnergy has acquired additional stakes in two offshore blocks in Namibia’s Orange Basin from TotalEnergies, increasing its ownership in these blocks to over 35 percent. This move strengthens QatarEnergy’s position in the region, which has seen significant oil discoveries, attracting major industry players.
- 1 year, 2 months
ADANI’S US WOES PUT TOTALENERGIES ON THE SPOT.
TotalEnergies is facing reputational and legal risks due to its deep ties with Indian billionaire Gautam Adani, who is under U.S. investigation for bribing officials to secure solar power contracts. Despite not being directly accused, the energy giant's growing Indian renewable investments and its partnership with Adani Green Energy could be affected by the ongoing corruption charges.
- 1 year, 2 months
ASTRON ENERGY UNVEILS 400TH REBRANDED STATION.
Astron Energy has reached a major milestone by unveiling its 400th rebranded service station in La Roche, Gqeberha, as part of its goal to transform over 800 stations nationwide. The rebrand, which began in 2022, is the largest change in the South African fuel industry in three decades, reflecting the company's commitment to growth, community, and exceptional customer service.
- 1 year, 2 months
U.S. LNG EXPORTS TO EUROPE SET TO SURGE AS EUROPEAN GAS PRICES SOAR.
As Europe's natural gas prices hit a one-year high, the widening price gap between Europe and the U.S. is prompting U.S. LNG exporters to increase shipments to Europe. This surge in European prices, driven by colder weather and supply concerns, has also led to a shift in global LNG trade, with cargoes initially bound for Asia being diverted to Europe.
- 1 year, 2 months
AFRICA OIL ANNOUNCES THE CLOSING OF A MATERIAL ACQUISITION IN IMPACT.
Africa Oil Corp. has completed the purchase of an additional 7.0% stake in Impact Oil and Gas, increasing its ownership to 39.5%. This acquisition strengthens Africa Oil's influence over key projects in Namibia's Orange Basin, including the Venus oil development and ongoing exploration efforts.
- 1 year, 2 months
IRAQ TO EXPORT FUEL OIL AT A RECORD-BREAKING RATE.
Iraq's fuel oil exports reached a record high in October, surpassing 2.15 million metric tons, with projections indicating annual exports could exceed 18 million metric tons in 2024. This surge in fuel oil exports is helping to lower refinery costs, increase global supply, and boost Iraq's oil sector revenues, reinforcing its role as a major global energy supplier.
- 1 year, 2 months
OPEC SECRETARY GENERAL TELLS COP29 OIL IS A GIFT FROM GOD.
At the COP29 summit in Baku, OPEC Secretary General Haitham Al Ghais described crude oil and natural gas as "a gift from God" and argued that climate talks should focus on reducing emissions rather than selecting energy sources. He emphasized that the priority should be mitigating environmental impact while ensuring energy security, particularly for developing nations.
- 1 year, 2 months
GREECE TARGETS RUSSIAN OIL TANKERS FOR AN ADDITIONAL 4 MONTHS.
Greece has extended naval exercises until March 2025 to prevent Russian oil tankers from transferring cargo off its coast, as part of efforts to limit funding for Russia's war in Ukraine. Despite these efforts, Russian tankers continue to swap oil at sea, prompting the European Parliament to call for more targeted sanctions against Russia’s shadow fleet.
- 1 year, 2 months
TOTALENERGIES, OIL INDIA COLLABORATE ON METHANE DETECTION: COP28.
TotalEnergies and Oil India have partnered to use AUSEA technology for methane emissions detection at OIL's sites, supporting the Oil and Gas Decarbonization Charter’s goal of near-zero methane emissions by 2030. This collaboration highlights OIL's commitment to reducing emissions and advancing global sustainability efforts.
- 1 year, 2 months
EGYPT SEES INCREASED OIL, GAS PRODUCTION, MINISTER ANNOUNCES.
Egypt is seeing a surge in oil and gas production, driven by incentive packages that attract both local and international investment. Minister Karim Badawi outlined a comprehensive strategy focusing on boosting exploration, refining, and mineral wealth, while integrating renewable energy and improving environmental sustainability.
- 1 year, 2 months
OIL, GAS IN PENINSULAR MALAYSIA DEPLETING FAST – RAFIZI.
Peninsular Malaysia's oil and gas reserves have halved in the past decade, causing concern about the country's energy security and its growing dependence on imports. Economy Minister Rafizi Ramli highlighted the challenges of resource allocation, the need for economic adjustments, and the ongoing discussions over revising revenue-sharing agreements with East Malaysia.
- 1 year, 2 months
CHINA-RUSSIA EAST-ROUTE GAS PIPELINE NEARS COMPLETION, SET TO STRENGTHEN ENERGY SUPPLY AND SUPPORT ECONOMIC GROWTH.
The China-Russia east-route natural gas pipeline has completed construction and entered its final commissioning phase, set to deliver 38 billion cubic meters of gas annually to key regions in China. This vital infrastructure project will ease supply constraints, support cleaner energy development, and drive economic growth in eastern China.
- 1 year, 2 months
FOUR OIL COMPANIES ALLOCATE $500 MILLION TO BOOST ENERGY SECURITY IN AFRICA AND ASIA.
Four major international oil companies—TotalEnergies (France), BP (UK), Equinor (Norway), and Shell (multinational)—have announced a joint commitment to invest $500 million to improve electricity access in the Global South.
- 1 year, 2 months
AFRICA'S DEEPWATER OIL AND GAS PRODUCTION EXPECTED TO SEE SIGNIFICANT GROWTH OVER THE NEXT DECADE.
Africa’s deepwater oil and gas production is poised for significant growth over the next decade, fueled by recent discoveries and new projects.
- 1 year, 3 months
EXXON HITS 500 MILLION-BARREL OIL MILESTONE IN GUYANA.
ExxonMobil announced on Wednesday that it has reached a major milestone, producing 500 million barrels of oil from the Stabroek block off the coast of Guyana, just five years after beginning production.
- 1 year, 3 months
PROJECT TO STORE HYDROGEN IN A NORTH SEA GAS FIELD.
Centrica Energy Storage has chosen Exceed, alongside Wood, as key partners for the redevelopment of the rough gas field in the UK’s Southern North Sea.
- 1 year, 3 months
QATARENERGY BUYS 23% OF OFFSHORE EGYPT BLOCK FROM CHEVRON.
QatarEnergy has acquired a 23% stake in the North El-Dabaa offshore block in Egypt from Chevron, further expanding its global oil and gas portfolio. The deal strengthens QatarEnergy's partnership with Chevron and enhances its presence in key energy regions, including Egypt and the Mediterranean.
- 1 year, 3 months
ADNOC GAS EXPECTS EARNINGS BOOST FROM RISING GAS DEMAND.
Adnoc Gas plans to boost earnings by 40% by 2029 through increased gas production and $15 billion in investments, driven by rising demand. The company is also expanding LNG exports, including a stake in the Ruwais LNG project, while maintaining strong dividend payouts.
- 1 year, 3 months
CORAN WARNS NIGERIAN GOVERNMENT AGAINST FUEL IMPORT LICENSES AMID DANGOTE REFINERY CONTROVERSY.
The Crude Oil Refinery Owners Association of Nigeria (CORAN) has warned the government against granting import licenses to petroleum marketers, citing concerns about substandard fuel imports and the negative impact on local refineries. The controversy has escalated into legal action, with marketers challenging the dominance of Dangote Refinery, while also benefiting from the removal of fuel subsidies, leading to significant profits in the sector.
- 1 year, 3 months
OIL PRICES DROP AS SUPPLY CONCERNS EASE AND CHINA’S STIMULUS DISAPPOINTS.
Oil prices fell as concerns over supply disruptions from a U.S. storm eased and China's stimulus package failed to meet market expectations, dampening hopes for a rebound in fuel demand. Despite ongoing production outages in the U.S. Gulf of Mexico, the market's focus has shifted to China's economic policies and stronger demand from U.S. refiners.
- 1 year, 3 months
BP AND SHELL EMBRACE TRADITIONAL ENERGY PLAYS.
BP and Shell are shifting their focus back to traditional oil and gas operations, dialing back some of their renewable energy commitments to boost short-term profits. Despite reaffirming long-term climate goals, both companies are investing in fossil fuels to ensure financial stability while navigating the energy transition.
- 1 year, 3 months
GAS MAY DASH BIG OIL'S NAMIBIAN DREAMS.
Namibia's offshore oil discoveries, initially hailed as a major economic opportunity, have encountered complications due to unexpectedly high gas content, requiring additional infrastructure and delaying development. The need to reinject or process the gas, along with rising costs, may make the projects less profitable and push oil production into the 2030s, dampening earlier expectations.
- 1 year, 3 months
JORDAN IS CLOSE TO DISCOVERING A HUGE GAS FIELD. IT MAY TURN TO EXPORT.
Jordan is on the brink of a major gas discovery at the Risha field, with reserves estimated at 10 trillion cubic feet, which could reduce the Kingdom's energy import reliance and support economic growth. Plans to expand production, improve infrastructure, and connect to regional pipelines, including Egypt's Arab Gas Pipeline, are central to this transformative energy strategy.
- 1 year, 3 months
NIGERIA TO END FLARING BY 2030 THROUGH GAS UTILISATION FOR AUTOMOBILES - KYARI.
Nigeria plans to end gas flaring by 2030, converting flared gas for use in cars and power generation. The country is also pushing for global collaboration and capital access to support its decarbonization efforts and address energy poverty.
- 1 year, 3 months
EUROPE STOCKS UP ON LNG AHEAD OF WINTER.
Europe boosted LNG imports in October to stock up for winter, while Asian imports, particularly from China, slightly declined. Global LNG demand continues to rise, driven by Asia’s energy transition and industrial growth.
- 1 year, 3 months
GAZPROM INITIATES PILOT PROJECT TO SUPPLY CNG FUELING TRUCKS TO TANZANIA.
At African Energy Week 2024, Gazprom unveiled a project to supply Tanzania with CNG fueling trucks to support its growing natural gas vehicle market. Russia also explored opportunities for cooperation in energy, infrastructure, and workforce training across Africa.
- 1 year, 3 months
KENYA TO EXIT OIL IMPORT DEAL WITH GULF COMPANIES: "DISTORTIONS IN FOREX MARKET.
Kenya plans to exit its oil import deal with Gulf countries due to unmet goals and market distortions. The government aims to return to the open tendering system for more stability.
- 1 year, 3 months
TANZANIA: EWURA ANNOUNCES NEW PETROLEUM PRICE CAPS FOR TANZANIA, EFFECTIVE NOVEMBER 2024.
EWURA has set new cap prices for petroleum products in Tanzania, effective from 6th November 2024, based on global oil trends and exchange rate changes. Retailers must comply with these prices, display them clearly, and issue receipts for all transactions.
- 1 year, 3 months
RUSSIA CONTINUES OIL AND GAS SUPPLIES TO SEVERAL EU STATES.
Russia continues to supply oil and gas to some European countries, but future cooperation depends on negotiations with European nations and Ukraine, especially regarding the expiring gas transit contract through Ukraine.
- 1 year, 3 months
TANZANIA ANNOUNCES DATE FOR AUCTIONING OIL AND GAS BLOCKS.
Tanzania will auction 26 petroleum exploration blocks in March 2025, with improved fiscal terms and accessible geological data to attract investors. The government aims to boost investment by leveraging its experience and enhancing the country's oil and gas sector.
- 1 year, 3 months
TOTALENERGIES SIGNS MAJOR LNG AGREEMENT WITH SINOPEC FOR 15-YEAR SUPPLY TO CHINA.
TotalEnergies has secured a 15-year deal with Sinopec to supply 2 million tons of LNG annually to China, starting in 2028. The agreement strengthens TotalEnergies' position in China's energy transition, promoting natural gas as a cleaner alternative to coal.
- 1 year, 3 months
OPEC+ DELAYS PRODUCTION INCREASE BOOSTING CRUDE OIL PRICES AMID GEOPOLITICAL CONCERNS.
Crude oil futures rose after OPEC+ announced a delay in a planned production increase, extending voluntary cuts to support prices. Geopolitical tensions in West Asia, particularly involving Iran, also contributed to concerns about potential supply disruptions.
- 1 year, 3 months
THE UAE OPENS ITS ANNUAL OIL-AND-GAS SUMMIT AS IT PLEDGES TO INCREASE OUTPUT EVEN AS PRICES FALL.
The UAE opened its annual oil-and-gas summit, committing to boost oil production to 5 million barrels per day despite falling prices and political uncertainties. Officials emphasized the continued importance of fossil fuels alongside cleaner energy while maintaining strong ties with Russia.
- 1 year, 3 months
TANZANIA: GOVERNMENT TO EYE MORE CNG STATIONS AMID GROWING SHIFT FROM PETROLEUM.
Tanzania plans to expand its Compressed Natural Gas (CNG) infrastructure by opening three new filling stations by December 2024, increasing accessibility for the growing number of CNG-powered vehicles. The initiative aims to promote cleaner fuel options, with a total of eight stations expected by 2024 and an additional 13 by 2025.
- 1 year, 3 months
RUSSIA LOOKS FORWARD TO COOPERATION ON LNG, PIPELINE PROJECTS WITH TANZANIA - ECONOMIC DEVELOPMENT MINISTER.
Russia is seeking to enhance energy and agricultural cooperation with Tanzania by increasing supplies of liquefied natural gas (LNG) and agricultural technology. This partnership aims to support Tanzania's growing energy needs and agricultural development while positioning both countries for greater market access in their respective regions.
- 1 year, 3 months
SCOTLAND: THE FIRST AUTONOMOUS ELECTRIC SUBMARINE TO SUPPORT MARINE ENERGY SERVICES.
The first autonomous electric submarine represents one of the latest advancements supported by artificial intelligence, including increased robotic usage to lower carbon emissions.
- 1 year, 3 months
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.
- 1 year, 3 months
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.
- 1 year, 3 months
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 year, 3 months
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 year, 3 months
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 year, 3 months
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 year, 3 months
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 year, 3 months
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 year, 4 months
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.
- 1 year, 4 months
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.
- 1 year, 4 months
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.
- 1 year, 4 months
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.
- 1 year, 4 months
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.
- 1 year, 4 months
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.
- 1 year, 4 months
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.
- 1 year, 4 months
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.
- 1 year, 4 months
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.
- 1 year, 4 months
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.
- 1 year, 4 months
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.
- 1 year, 4 months
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.
- 1 year, 4 months
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.
- 1 year, 4 months
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.
- 1 year, 4 months
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.
- 1 year, 4 months
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.
- 1 year, 4 months
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.
- 1 year, 4 months
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 year, 4 months
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 year, 4 months
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 year, 4 months
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 year, 4 months
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 year, 4 months
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 year, 4 months
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 year, 4 months
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 year, 4 months
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 year, 4 months
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 year, 4 months
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 year, 4 months
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 year, 4 months
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 year, 4 months
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 year, 4 months
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 year, 4 months
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 year, 4 months
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 year, 4 months
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 year, 4 months
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 year, 4 months
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 year, 4 months
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 year, 4 months
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 year, 4 months
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 year, 5 months
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 year, 5 months
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 year, 5 months
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 year, 5 months
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 year, 5 months
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 year, 5 months
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 year, 5 months
NIGERIAN GAS METHANOL PLANT SECURES FUNDING.
Nigeria is advancing its methanol production sector as part of its commitment to achieving carbon neutrality by 2060.
- 1 year, 5 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.
- 1 year, 5 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.
- 1 year, 5 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.
- 1 year, 5 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.
- 1 year, 5 months
TURKEY MAKES RAPID INROADS INTO AFRICA’S OIL AND GOLD SECTORS.
Turkey is actively expanding its presence in Africa and enhancing its energy security.
- 1 year, 5 months
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.
- 1 year, 5 months
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.
- 1 year, 6 months
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.
- 1 year, 6 months
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.
- 1 year, 6 months
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.
- 1 year, 6 months
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.
- 1 year, 6 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.
- 1 year, 6 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.
- 1 year, 6 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.
- 1 year, 6 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.
- 1 year, 6 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.
- 1 year, 6 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.
- 1 year, 6 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.
- 1 year, 6 months
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.
- 1 year, 6 months
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.
- 1 year, 7 months
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.
- 1 year, 7 months
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.
- 1 year, 7 months
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.
- 1 year, 7 months
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.
- 1 year, 7 months
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.
- 1 year, 7 months
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.
- 1 year, 7 months
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.
- 1 year, 7 months
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.
- 1 year, 7 months
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.
- 1 year, 7 months
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.
- 1 year, 7 months
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.
- 1 year, 7 months
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.
- 1 year, 7 months
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.
- 1 year, 7 months
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.
- 1 year, 7 months
GULF OIL COMPANIES EXPAND LNG INVESTMENTS LED BY ADNOC AND ARAMCO.
ADNOC and Aramco want to hedge against global energy volatility
- 1 year, 7 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.
- 1 year, 7 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.
- 1 year, 7 months
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.
- 1 year, 7 months
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.
- 1 year, 7 months
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.
- 1 year, 7 months
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
- 1 year, 7 months
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.
- 1 year, 8 months
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.
- 1 year, 8 months
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.
- 1 year, 8 months
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.
- 1 year, 8 months
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.
- 1 year, 8 months
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.
- 1 year, 8 months
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.
- 1 year, 8 months
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.
- 1 year, 8 months
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.
- 1 year, 8 months
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.
- 1 year, 8 months
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.
- 1 year, 8 months
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.
- 1 year, 8 months
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.
- 1 year, 8 months
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.
- 1 year, 8 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.
- 1 year, 8 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.
- 1 year, 8 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.
- 1 year, 8 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.
- 1 year, 8 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.
- 1 year, 8 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.
- 1 year, 8 months
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.
- 1 year, 8 months
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.
- 1 year, 8 months
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.
- 1 year, 8 months
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.
- 1 year, 8 months
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.
- 1 year, 8 months
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.
- 1 year, 8 months
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.
- 1 year, 8 months
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.
- 1 year, 9 months
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.
- 1 year, 9 months
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.
- 1 year, 9 months
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.
- 1 year, 9 months
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.
- 1 year, 9 months
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.
- 1 year, 9 months
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.
- 1 year, 9 months
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.
- 1 year, 9 months
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.
- 1 year, 9 months
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.
- 1 year, 9 months
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.
- 1 year, 9 months
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.
- 1 year, 9 months
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.
- 1 year, 9 months
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.
- 1 year, 9 months
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.
- 1 year, 9 months
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.
- 1 year, 9 months
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.
- 1 year, 9 months
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.
- 1 year, 9 months
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.
- 1 year, 9 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.
- 1 year, 9 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.
- 1 year, 9 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.
- 1 year, 9 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.
- 1 year, 9 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.
- 1 year, 9 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.
- 1 year, 9 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.
- 1 year, 9 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.
- 1 year, 9 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.
- 1 year, 9 months
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.
- 1 year, 9 months
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.
- 1 year, 9 months
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.
- 1 year, 9 months
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.
- 1 year, 9 months
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.
- 1 year, 10 months
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.
- 1 year, 10 months
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.
- 1 year, 10 months
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.
- 1 year, 10 months
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.
- 1 year, 10 months
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.
- 1 year, 10 months
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.
- 1 year, 10 months
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.
- 1 year, 10 months
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.
- 1 year, 10 months
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.
- 1 year, 10 months
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.
- 1 year, 10 months
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.
- 1 year, 10 months
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.
- 1 year, 10 months
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.
- 1 year, 10 months
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.
- 1 year, 10 months
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.
- 1 year, 10 months
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.
- 1 year, 10 months
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.
- 1 year, 10 months
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.
- 1 year, 10 months
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.
- 1 year, 10 months
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.
- 1 year, 10 months
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.
- 1 year, 10 months
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.
- 1 year, 10 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.
- 1 year, 10 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.
- 1 year, 10 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.
- 1 year, 10 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.
- 1 year, 10 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.
- 1 year, 10 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.
- 1 year, 10 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.
- 1 year, 10 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.
- 1 year, 10 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.
- 1 year, 10 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.
- 1 year, 10 months
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.
- 1 year, 10 months
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).
- 1 year, 10 months
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.
- 1 year, 10 months
TOTAL ENERGIES AND SINOPEC TEAM UP TO DEVELOP SUSTAINABLE AVIATION FUEL.
Partnership strengthens companies’ commitment to pioneering sustainable aviation fuels.
- 1 year, 10 months
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.
- 1 year, 10 months
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.
- 1 year, 10 months
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.
- 1 year, 10 months
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.
- 1 year, 10 months
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.
- 1 year, 10 months
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.
- 1 year, 11 months
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.
- 1 year, 11 months
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.
- 1 year, 11 months
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.
- 1 year, 11 months
BANGLADESH LAUNCHES LARGEST OFFSHORE EXPLORATION DRIVE IN A DECADE.
The government's recent actions signify a proactive approach to addressing Bangladesh's energy challenges.
- 1 year, 11 months
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.
- 1 year, 11 months
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.
- 1 year, 11 months
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.
- 1 year, 11 months
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.
- 1 year, 11 months
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.
- 1 year, 11 months
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.
- 1 year, 11 months
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.
- 1 year, 11 months
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.
- 1 year, 11 months
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.
- 1 year, 11 months
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.
- 1 year, 11 months
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.
- 1 year, 11 months
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.
- 1 year, 11 months
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.
- 1 year, 11 months
OIL INCHES HIGHER ON FUEL INVENTORY DRAWS.
Today, crude oil prices rose after the Energy Information Administration (EIA) reported estimated inventory draws across fuels.
- 1 year, 11 months
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.
- 1 year, 11 months
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.
- 1 year, 11 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.
- 1 year, 11 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.
- 1 year, 11 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.
- 1 year, 11 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.
- 1 year, 11 months
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.
- 1 year, 11 months
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.
- 1 year, 11 months
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.
- 1 year, 11 months
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.
- 1 year, 11 months
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.
- 1 year, 11 months
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.
- 1 year, 11 months
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.
- 1 year, 11 months
The Moroccan-Nigerian gas pipeline project includes 4 new African countries
The Moroccan-Nigerian gas pipeline project includes 4 new African countries
- 2 years, 8 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
- 2 years, 8 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
- 2 years, 8 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.
- 2 years, 8 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.
- 2 years, 8 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.
- 2 years, 9 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.
- 2 years, 9 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
- 3 years, 1 month
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.
- 3 years, 1 month
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.
- 3 years, 1 month
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.
- 3 years, 2 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.
- 3 years, 2 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
- 3 years, 2 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
- 3 years, 2 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)
- 3 years, 2 months
MOZAMBIQUE: Announces First LNG Export Shipment
Mozambique has officially started exporting liquefied natural gas (LNG) produced in the country's restive north
- 3 years, 3 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.
- 3 years, 3 months
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
- 3 years, 3 months
TANZANIA : PUMA To Support the Objective of Clean Cooking
Puma to support the objective of clean cooking in Tanzania
- 3 years, 3 months
SOMALIA: Coastline Exploration Received Final Authorization For Its Production Sharing Agreements
Coastline Exploration Received Final Authorization For Its Production Sharing Agreements
- 3 years, 3 months
Republic Of Congo To Commercialise Gas Resource
The President of the Republic of Congo, Denis Sassou Nguesso Emphasis Commitment Toward Energy Transition.
- 3 years, 4 months
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,
- 3 years, 6 months
EUROPEAN ENERGY CHALLENGE
France plans to renationalize EDF, its giant utility.
- 3 years, 7 months
Ghana restarts Tema refinery to avoid oil supply crisis
Ghanaian government decided to restart the Tema refinery, to meet domestic demand
- 3 years, 7 months
40% of The Total Russian Oil Going Into Private Refinerie
40 percent of the total Russian oil imports are going into private refinerie
- 3 years, 7 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,
- 3 years, 7 months
OPEC+ TO DECIDE OIL PRODUCTION
Delegates from OPEC+ are trying to decide what to do when the oil production pact ends in August.
- 3 years, 7 months
EU Ready To Pay for Russian Gas With Ruble
EU members can pay for Russian gas without violating sanctions
- 3 years, 8 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
- 3 years, 9 months
5 Pipeline Valve Reportedly Shut Down by German Activits
German activists have allegedly succeeded in halting the flow of crude oil
- 3 years, 9 months
Oil Prices Rise 3%.. Brent Crude is Near $112
Oil prices shifted nearly 3% higher at the end of trading on Thursday
- 3 years, 10 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.
- 3 years, 10 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.
- 3 years, 10 months
Germany To Import LNG From Qatar
Germany will be importing liquefied natural gas from Qatar
- 3 years, 10 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.
- 3 years, 10 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.
- 3 years, 11 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.
- 3 years, 11 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
- 3 years, 11 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
- 3 years, 11 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.
- 3 years, 11 months
GAMBIA: FAR Has Completed A Review Of The Prospectivity Of Block A2 And A5
Gambia
- 3 years, 11 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
- 3 years, 12 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
- 4 years
NIGERIA : Oil Production Vessel Explodes
An oil production vessel exploded off the coast of Nigeria early on Wednesday with 10 crew members on board
- 4 years
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,
- 4 years
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.
- 4 years
NAMIBIA: 300 million Barrels Oil Discovered
Shell has made a significant oil and gas discovery at an closely-watched offshore well in Namibia
- 4 years
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.
- 4 years, 1 month
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.
- 4 years, 2 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.
- 4 years, 2 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.
- 4 years, 2 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
- 4 years, 2 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.
- 4 years, 2 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.
- 4 years, 3 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.
- 4 years, 3 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.
- 4 years, 3 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.
- 4 years, 3 months
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.
- 4 years, 3 months
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.
- 4 years, 3 months
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.
- 4 years, 3 months
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