Tag: Oil and Gas News
Global Oil Prices Continue To Fall
Upon hopes of US releasing more barrels from its Strategic Petroleum Reserves
Crude oil prices continued their fall yesterday, with West Texas Intermediate dipping...
US Push: Arab Nations Rally for S/Arabia Over Proposed November Output...
…insisting that decision is crucial to market stability
A number of Arab nations seem to be showing solidarity with Saudi Arabia who is under pressure...
Crude Oil Production: Angola, Libya Maintain Lead Over Nigeria – OPEC...
Angola and Libya have for the second consecutive month maintained their lead over Nigeria as Africa’s highest crude oil producers, according to a report...
OPEC Total Output Still Below Target Despite Increased Oil Production
OPEC raised its crude oil production by 146,000 barrels per day (bpd) last September, but reports say the 10 OPEC members in the OPEC+...
US Threatens To Review Relations With S/Arabia Over OPEC+ Production Cuts
The United States has signaled that it is reviewing its relationship with Saudi Arabia following the Organization of the Petroleum Exporting Countries alliance...
France’s Fuel Supply Problems Worsen As Refinery Strikes Continue
France’s fuel distribution continues to be disrupted by the ongoing strikes at refineries with no end in sight to the industrial action that has...
Côte d’Ivoire Secures $10m ADF Loan For Electricity Access
African Development Fund (ADF) has approved $10.53 million in financial support to Côte d’Ivoire for the implementation of its rural electrification programme.
The ADF is...
UK Launches Massive Oil Licensing Round to Ramp Up Domestic Output
The UK last Friday launched its first oil and gas licensing round since 2019, aiming to award more than 100 licenses to ramp up...
OPEC+ Cuts or Not, White House Says US Would Refill Strategic...
The United States has said that it has plans to replenish the nation’s crude oil emergency stockpiles when the price of oil goes down.
The...
Morgan Stanley Predicts Global Oil Prices Hitting $100pb Next Quarter
Acclaimed US investment bank, Morgan Stanley, has said that oil prices will rise again to $100 per barrel faster than previously estimated.The firm made...
G7 Price Cap On Russian Oil Won’t Be Global, says US
……….“The price cap only relates to the use of western services to trade Russian oil.”
A senior US treasury department official has said that Group...
OPEC+ Agrees On 2m bpd Output As Demand Concerns Take Centre...
True to expectation, the 23-member OPEC+ alliance yesterday slashed its November output by 2 million barrels per day. The output cut is the latest...
OPEC+ Meets Today: May Cut Production Plan for November
……..Experts Say U.S. Shale Won’t Fill Gap
As OPEC+ is expected to review its production plans for November during its meeting holding today, industry consensus...
Fossil Fuels Can’t Be Phased Out Until Renewables Can Meet Demand...
The chief executive officer of Saudi Aramco, Amin Nasser, has said that energy industry deserve an orderly transition to renewables rather than follow the...
Norway Deploys Soldiers To Protect Gas Assets After Nord Stream Sabotage
Following the suspected sabotage of the Nord Stream pipelines in the Baltic Sea last week, Norway is posting soldiers from its Home Guard to...
U.S. Plots To Impose New Sanctions On Iran’s Oil Sales
The United States is gearing to pronounce additional sanctions on Iran’s oil sales any times from now, according to a tweet by Bloomberg TV’s...
TotalEnergies Set To Spin off Canadian Oil Assets
………As It Prioritizes Climate Strategy
French energy giant, TotalEnergies has unveiled plans to spin off its oil sands investment in Canada, and enlist on the...
Germany Announces $195bn Energy Bailout For Residents And Businesses
………As Inflation Hits Double Digits
Germany yesterday announced a €200 billion ($195bn) bailout plan to protect residents and businesses in the country from the fallout...
Dubai Summit: 25 Ministers Launch Global Alliance on Green Economy
A global alliance of countries with climate action and sustainable development as priorities was launched at the World Green Economy Summit in Dubai on...
Biden to US Oil Firms: ‘Bring Down Petrol Prices Now’
US President, Joe Biden has called on oil companies to charge less for petrol at the pumps. Although US petrol prices have fallen from...
