Tag: Oil and Gas News
Kenyan Government Discusses Decarbonization Initiatives, Others With Eni
The Kenyan President, Samoei Ruto, has met with the chief executive officer of Italian oil giant, Claudio Descalzi, in Nairobi to discuss the company’s...
Mauritania Seals $34bn Hydrogen Deal With German, UAE, Egypt Consortium
A consortium made up of UAE renewable energy giant MASDAR, an Abu Dhabi state-owned company, Egyptian technology provider Infinity and German project developer Conjuncta,...
Windfall Profit Taxes Discourages Investments – Exxon Boss
...Says Exxon will reconsider its role in Europe
America oil giant, Exxon Mobil Corp, has said it will reexamine its supermajor’s role in Europe in...
EIA Lowers Forecast For Natural Gas Prices for 2023 And 2024
Energy Information Administration has reduced its earlier forecast for natural gas prices for 2023 and 2024. The EIA now sees natural gas prices...
OPEC Expresses Fear That China’s 2023 Oil Demand May Hit 600,000bpd
OPEC’s secretary general, Haitham Al Ghais, has said that the organization is cautiously optimistic about China’s oil demand this year, expecting consumption growth of...
LNG: The EU Turns To Buyers’ Cartel To Protect Vulnerable Members
In addition to being a sociopolitical bloc, the European Union has decided to transform into a buyers’ group on the international gas market next...
Tanzania Seals $30bn LNG Project Deal With Super Majors, Shell And...
Tanzania has confirmed the completion of talks with supermajors, Shell and Equinor, for the construction of a $30-billion LNG export facility in the country.
The...
S/African Economy Heads For Recession As Power Crisis Escalates
...New data says the economy slumped in Q4
A recent data has suggested that the economy of Africa’s most industrialized nation, South Africa, may be...
Saipem Assures That Mozambique’s LNG Project Will Restart In July
Italian engineering contractor, Saipem, has assured that it is restarting work this July on TotalEnergies LNG project in Mozambique.The 12.9 million metric tons/year project...
Plot By UAE To Quit OPEC Thickens
There are top level discussions within the polity of the United Arab Emirates about the prospects of leaving the Organization of Petroleum Exporting Countries...
Egypt Moves To Contain Impact Of Increase In Fuel Pump Price
...Raise Minimum Wage, Pension From To April 1
Egypt has announced a package of wages and pension increases to make residents contain the effect of...
BP’s Boss Warns Of Price Spikes If Energy Transition Is Rushed
BP's chief executive officer, Mr. Bernard Looney has warned of renewed oil and gas price spikes if supply is cut too quickly without a...
Africa’s New Extraction Maths: Less Oil, More Gas
Foreign investors are dropping crude production and betting on LNG developments.Summary• Oil majors have been pulling out of crude projects in Africa, engendering caution...
Oil Demand To Soar, Up To $100, Top Energy Trader Says
The chief executive officer of globally reputed trading company, Vitol, Russel Hardy has said global demand for crude oil could hit record highs this...
Ghana: Russia’s Lukoil To Sell 38% Stake In Deepwater Oil And...
Russian oil firm, Lukoil is hoping to seal a deal requiring the sale of 38% of its deepwater oil and gas field offshore GhanaReuters...
Oil Prices Dip As Market Await Chinese Demand To Rebound
Reports yesterday said oil prices began the week’s trade with a slight loss before bullish and bearish factors struck what seemed like a balance.
Brent...
S/Arabia Advances $400m Aid Package to Ukraine
OPEC+ leader, Saudi Arabia, has advanced $400 million in aid to Ukraine. The aid comes one year after the latter was bulldozed by the...
Natural Gas Prices Could More Than Double In 2024
Due to shortages caused by a drop in Russian exports, European natural gas prices could “more than double” next year, Goldman Sachs has said.
The...
Russia: U.S. Offers Additional $2bn Security Assistance To Ukraine
The U.S. defense department has announced additional $2 billion "security assistance" for Ukraine.The package includes ammunition for HIMARS rocket systems and other weaponry, high-tech...
Ukraine: US Will Today Announce ‘Sweeping’ Sanctions Against Russia
…And enable Ukraine provide basic services like electricity and heat
The US is expected today to announce what White House spokesperson, Karine Jean-Pierre, described as...
