It’s been a rough couple of weeks in the energy market. As potential energy company investors, we are not sorry to see the back of last week in particular. That’s the understatement of the year. Pretty near every negative sentiment-Recession, Fed tightening, Dollar strength, China demand, Inventory builds, or what amounts to the entire oil price Closet of Anxieties, came to pass this week. Oil-WTI took a tumble below $80 for the first time since Jan 11th
One of the world’s most mature deepwater basins, the U.S. Gulf of Mexico, has a lot of production life left and could help bridge the oil supply gap that is widening with the maturing of many currently producing assets globally. The basin now pumping 15% of U.S. crude has the potential to deliver another up to 2 million barrels per day (bpd) of the new supply sources needed by 2040, McKinsey & Company said in
Crude oil exports from all OPEC oil producers were down in the first 25 days of September compared to the full month of August, according to data from Petro-Logistics cited by commodity analyst Giovanni Staunovo on Wednesday. Between September 1 and 25, OPEC’s crude oil exports averaged 21.648 million barrels per day (bpd), which was 166,000 bpd lower than the average OPEC crude oil exports for the full month of August. Crude oil exports out of
The leading marine fuels supplier attending AOW 2022 Africa Oil Week (AOW) (https://Africa-OilWeek.com) is proud to welcome Bronze sponsor Monjasa to Africa Oil Week. The company will be well-represented at AOW – held in the heart of Cape Town. Organised by Hyve Group Plc., this unmissable event will bring leading energy stakeholders together on the 3-7 October in Cape Town under the theme: Sustainable Growth in a Low Carbon World. Monjasa is bronze sponsor of Africa
Africa’s natural gas export infrastructure has the potential to be re-purposed to transport hydrogen across Africa and to Europe The abundance of renewable resources that Africa possesses along with a developed renewable energy sector where renewable power can be produced at low cost – a key ingredient for generating low-cost green hydrogen – gives Africa a clear competitive edge as a clean hydrogen hub. Africa is also geographically well placed to serve both European and
The African Energy Chamber is proud to announce that Sustain Power will be sponsoring this year’s edition of African Energy Week South Africa-based designer and supplier of clean energy solutions for domestic & industrial markets, Sustain Power, has confirmed its sponsorship of this year’s edition of the African Energy Week (AEW) (https://AECWeek.com/) conference and exhibition – Africa’s premier event for the oil and gas sector which will take place from October 18 – 21 in
Strongest presence of Ministers and Government officials attending Africa Oil Week Africa Oil Week (www.Africa-OilWeek.com) is honoured to welcome the National Chairperson of the African National Congress, Mr. Samson Gwede Mantashe, to Africa Oil Week 2022. Mr. Mantashe, the South African Minister of Mineral and Energy Resources, is attending the leading Oil and Gas event in Cape Town, South Africa held by Hyve Group Plc. This unmissable event, home of the African Upstream, is set
“That would be the road to hell for America,” JP Morgan’s CEO Jamie Dimon said last week, referring to a suggestion that all big banks divest from the oil and gas industry. In the same week, Aramco’s chief executive warned that years of underinvestment in new oil production are beginning to bear fruit, which is an undersupplied market. Despite these statements that suggested oil prices should move higher, oil fell for much of the week. Yet it
Eni’s Chief Operating Officer Guido Brusco told attendees of the Gastech conference in Milan on Tuesday evening that the Italian energy giant “plans to fully replace Russian gas by 2025 helped by east med fields”. At the same time, deputy COO Cristian Signoretto told the conference that Eni would also invest nearly $4.5 billion every year for the next three years in upstream activities in several venues, including Qatar, Congo, Egypt, and Algeria. “We are fully
The surge in LNG prices has caused the international market for the fuel to concentrate in the hands of several large players, with a multitude of small LNG traders getting squeezed out. Reuters noted in a report today that the physical LNG market had swelled twofold since 2011, which has led to the increase in the numbers of LNG traders, especially small ones. These small traders, according to the report, accounted for a fifth of China’s imports
