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Africa
Oil in floating storage at one-year low as market strengthens
The volume of crude oil and condensate in tankers worldwide has fallen to a one-year low as the market’s recovery gathers pace, and with a strongly backwardated structure in the Brent crude market discouraging storage. Floating storage…
Africa Oil Announces 2020 Fourth Quarter Results and 2021 Management
Africa Oil fourth quarter net income of $79.8 million and full-year net income of $198.0 million, excluding a $215.6 million non-cash impairment of Kenya exploration assets posted in the first quarter 2020. Strong quarterly profit…
Botswana stresses environment in talks on ReconAfrica – News for the Oil
Botswana has stressed the importance of permitting and environmental regulations in comments around Reconnaissance Africa’s plans – and a prohibition on hydraulic fracturing. Botswanan Mineral Resources, Green Technology and Energy…
Exclusive: Mozambique, TCRK Energy launch hydrogen work – News for the Oil
Mozambique state-owned Empresa Nacional de Hidrocarbonetos (ENH) has formed a joint task force with TCRK Energy, backed by serial Mozambique entrepreneur Tom Bruton, to investigate blue hydrogen opportunities. ENH and TCRK Energy formed…
EMERGING MARKETS-Colombian peso leads Latam FX gains on oil strength
* Brazil's real edges up; inflation data raises rate hike case * Eletrobras jumps 6% after privatization plan unveiled * Ecopetrol posts 87.3% drop in annual profit (Adds details, updates prices) By Susan Mathew and…
Kuwait Energy adds up ASH-3 at Abu Sennan – News for the Oil and Gas Sector
Kuwait Energy has tested the ASH-3 well in Egypt at 6,379 barrels per day of oil and 6.7 million cubic feet per day of gas. United Oil & Gas, which has a 22% stake in the Abu Sennan licence, noted this was 7,720 barrels of oil…
Kosmos plans spending boost in 2021 – News for the Oil and Gas Sector
Kosmos Energy expects its capital expenditure to reach $575-625 million this year, driven largely by its work with BP offshore Mauritania and Senegal. The US company expects to spend $350mn at the Greater Tortue Ahmeyim LNG project this…
Falcon Oil & Gas Ltd. – Assignment of Canadian Working Interests
Falcon Oil & Gas Ltd. (“Falcon”) Assignment of Canadian Working Interests 22 February 2021 - Falcon Oil & Gas Ltd. (TSXV: FO, AIM: FOG) has agreed to assign its working interest in three gross producing wells and one gross…
Piracy surges in Gulf of Guinea as falling oil prices rock lawless Niger
Last month, the Danish shipping giant Maersk called for tougher action after two attempted piracy attacks on the firms' ships since December. The company also owns the Maersk Alabama, whose hijacking by Somali pirates in 2009 was…
CBD Oil (Middle East and Africa)Market Analysis, Trends, Top Manufacturers,
The New Report “Middle East and Africa CBD Oil Market” published by Data bridge Market Research, covers the market landscape, classification, industry value, price, cost and gross profit and the industry thoroughly by…
Texas Freeze Causes Largest Ever U.S. Oil Production Decline | OilPrice.com
U.S. crude oil production has plunged by as much as 40 percent due to the Polar Vortex that brought freezing temperatures to swathes of the United States, most notably including Texas, where wellheads and pipelines froze.…
Egypt announces int’l exploration bid for 24 oil, gas blocs
Egypt on Thursday announced an international bid round for the exploration of oil and natural gas in 24 blocks. “The blocks are located in the Gulf of Suez, the Western Desert, and the Eastern and Western Mediterranean,” Egyptian…
Why being endowed with oil is not always a boon: the case of Nigeria and
In countries with weak governance institutions, natural resource wealth tends to be a curse instead of a blessing. Where citizens are relatively powerless to hold ruling elites to account, resource wealth undermines development…
GE touts “no regrets” in gas for Africa – News for the Oil and Gas Sector
Developing gas and renewables together will provide a “no-regrets path” to cutting emissions and increasing electrification, GE Gas Power Sub-Saharan Africa’s CEO has said. Elisee Sezan said the region needed to balance the drive for…
UAE and Africa non-oil trade hits $40.7b in first nine months of 2020
Containers ready for shipment at the Khalifa Port in Abu Dhabi. The value of non-oil trade between the UAE and Africa totalled $40.7 billion in the first nine months of 2020,…
UAE and Africa non-oil trade hits $40.7b in first nine months of 2020
Containers ready for shipment at the Khalifa Port in Abu Dhabi. The value of non-oil trade between the UAE and Africa totalled $40.7 billion in the first nine months of 2020,…
Oil Companies Turn To Spot Crude Amid Cuts By OPEC+, Covid
<!-- --Bharat Petroleum Corporation has increased the proportion of spot crude purchases to about 45 per centIndia's refiners are turning to spot oil from Africa and North America as long-term suppliers in the Middle East cut output…
Seplat: Why the buzz around Nigeria’s foremost oil exploration company?
MainOne Cable Company Nigeria Limited recently celebrated 10 years in the business of bridging the digital divide in West Africa.As the provider of the first privately owned, open access 7,000-kilometer undersea high capacity cable…
Tight supply and hydrogen hopes drive iridium up 160% – Oil & Gas 360
Reuters LONDON – Iridium has become the latest precious metal to undergo a spectacular price rally, after supply shortages and expectations it will be used to produce hydrogen to power a greener economy lifted its value by 160% in…
Oil refineries are not national security assets: Kemp
Breadcrumb Trail Links PMN Business Author of the article: Publishing date: Feb 11, 2021 • 15 hours ago • 4 minute read Article content LONDON — National governments still tend to think about oil refineries as strategic…