In 2022, Algeria represented the largest producer of natural gas in Africa, with output measured at a record 3.6 trillion cubic feet (tcf). The gas is exported both by pipeline and as liquefied natural gas, and its production has been largely driven by several major producing fields. Recent hydrocarbon discoveries in the country are set to increase output even further. Hassi R’Mel: 3.02 billion cf/d The Hassi R’Mel field, located in Laghouat, is both the
Energy Capital & Power (ECP) is proud to announce that Laurent Coche, CEO of Chariot Green Hydrogen, will participate in the third edition of MSGBC Oil, Gas & Power 2023, taking place from November 21-22 in Nouakchott. He will speak about the company’s latest updates in the field of green hydrogen in Mauritania. Chariot Green Hydrogen is currently leading a large-scale green hydrogen project in Mauritania called Project Nour. The project is a collaboration with
The Brent crude oil, which serves as a benchmark for Angolan exports, traded lower on Wednesday 26th July, hovering around $82.80 per barrel. Price falls by 0.40 percent This price represents approximately 0.40 percent below the previous day’s quotes when it had reached highs not seen in several months. For example, Angola, one of the major oil exporters in Africa, along with Nigeria, has set a reference price of $75 per barrel for OGE/2023, which
The President of the Executive Committee of Sonangol’s Trading and Shipping Business Unit, Luís Manuel, stated on Tuesday in Luanda that the country’s oil production has remained stable and without significant declines in recent times, thanks to various ongoing actions. According to the manager, as reported to Lusa, oil production has remained stagnant for quite some time. “A series of actions have been taken to stabilize the declining progress. If you have been following, there
French company TotalEnergies, which holds a diversified portfolio of oil assets and is a partner of Sonangol in the Caraculo Photovoltaic Plant, inaugurated last March in Namibe, announced on 25th July Tuesday a global operation to buy out the capital of its renewable energy subsidiary, Total Eren, increasing its stake from approximately 30 to 100 percent. On the backdrop of this acquisition, all personnel from Total Eren will be fully integrated into TotalEnergies’ Renewable Business
Crude oil prices have rallied over 12 percent this month so far, aiming for the best month since January 2022. On the daily chart, WTI broke above the 200-day moving average, a level not seen since August 2022. This recent surge has been bolstered by a near-term rising trendline from the end of June. WTI crude oil prices rose about 2.8 percent on Monday, marking the strongest 24-hour period since June 13th. If this push
A $27-billion agreement signed between Iraq and France’s oil giant TotalEnergies will support Iraq’s plans to expand its crude oil output and petrochemical industries, the Iraqi Oil Ministry said in a report on Tuesday. The agreement, which involves four major projects, will also significantly boost Iraq’s revenue and allow it to avoid wasting its gas wealth by ending flaring practices. “This is a strategic package that will largely support the Iraqi economy… it will help
Energy ministers from G20 countries met on Saturday in India without reaching an agreement on a timeline to progressively reduce reliance on fossil fuels (oil, gas, and coal). Justifying the impasse, India, which currently presides over the G20 (comprising the 19 largest economies in the world and the European Union) until November, explained that some members wanted “a continuous reduction of fossil fuels” without relying on carbon capture or storage devices, “in accordance with different
The consultancy forecasts that Angola’s oil production will decrease by 1.6 percent this year to 1.12 million barrels per day, despite the recent reduction in production due to maintenance. .Due to the lost production in the Dalia field in February and March, we predict a 1.6 percent decrease in oil production, down to 1.12 million barrels per day in 2023,” according to a comment on the latest data about the sector in the country, which
The Brent crude oil barrel, which is a reference for Angolan exports, starts the week with a price of 80.88 dollars, the same value at which it closed in the previous trading sessions. Experiencing an increase of 1.25 dollars (1.57 percent) compared to the previous closing price, the Brent crude oil, during the period from June 23rd to July 21st, recorded an average price of 77.28 dollars. The highest price reached was 81.75 dollars, while
