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Category: Gas

International Energy Gas News

Nigeria Commissions 141 MW Integrated Power Plant

The 141 MW Aba Integrated Power Project in Nigeria has been commissioned to enhance energy security in nine areas across Abia State. The power plant comprises three 47MW gas turbines, a 27km gas pipeline, rehabilitated and new substations and 140km of data communication cables. Pan-African multilateral financial institution the African Export-Import Bank (Afreximbank) provided a $50 million loan to support the completion and commissioning of the project in 2021. Prof. Benedict Oramah, President and Chairman

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Energy Gas International News Oil

African Energy Stakeholders Call for Accelerated FDI

African energy stakeholders are advocating for diversified energy development that includes fossil fuels, despite Western demands for decarbonization. Speaking in London last week, a panel of energy firms and financial institutions called for an influx of global capital, technology and expertise in helping Africa to sustainably develop its resources, rather than dictating its resource development strategy. “The collaboration we need on a global level is coming together on the funding, knowledge and technology side –

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Local Gas News Oil

Angola Oil & Gas to bring strengths to the Oil industry

The upcoming 5th edition of the International Conference “Angola Oil & Gas – AOG/2024” is poised to bolster the oil industry and national economy, stated Alexandre Barroso, Secretary of State for Oil and Gas, during a press briefing in Luanda last Tuesday. Scheduled for October 2nd and 3rd, the conference’s theme, “Boosting Exploration and Development to Increase Production in Angola,” underscores the imperative of addressing production decline through enhanced exploration efforts. Barroso emphasized the sector’s

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Gas Local News Oil

Angola Aims for Increased Gas Production with New Consortium Ventures

The Government of Angola plans to increase gas production levels in the coming years, with the entry of a new consortium, which will explore new oil fields. The information was provided by the president of the National Oil, Gas and Biofuels Agency (ANPG). Paulino Jerónimo, who was recently reappointed for his second term at ANPG, highlighted that the new consortium for gas production in the country is made up of several companies.  Their mission is to

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International Gas News

Natural gas prices fall on the world market

Natural gas prices continued to fall, with a mild winter and an overproduction that caused producers in the American shale zone to try to reduce production, but oil companies that produce gas as a byproduct disrupted the plans. For commodity traders, the floor is likely around $1.50, with February prices now below $1.70 per cubic meter. This situation led   Chesapeake Energy   to announce in its earnings report earlier this week that it would scale back its drilling

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Oil Gas International News

Sintana Energy Leads Venture 50 with Namibian Orange Basin Discoveries

Sintana Energy has surged to the top position on the TSX Venture 50, propelled by its significant oil and gas discoveries in the Orange Basin. The company’s indirect interest in the PEL 83 exploration campaign, led by Galp Energia (80%), Namcor (10%), and Custos (10%), has positioned it as a standout performer among 50 other companies. With Custos Energy, in which Sintana holds a 49% indirect ownership, the CEO, Robert Bose, emphasized the transformative impact

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Oil Gas International News

Petrobras Introduces Hisep Project for CO2 Reinjection in Offshore Oil Fields

Petrobras unveiled plans on Tuesday February 19th to launch the pilot phase of the Hisep project within four years, aiming to reinject carbon dioxide (CO2) extracted from oil fields underground. Unlike traditional methods, Hisep conducts this process directly on the seabed rather than on the platform. The pilot phase is scheduled to take place in the pre-salt Mero field located in the Santos Basin. Following successful laboratory tests, Petrobras will proceed with the assembly of

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Local Gas News Oil

Minister Azevedo Calls for Action to Sustain Oil and Gas Sector Initiatives

The Minister of Mineral Resources, Oil, and Gas, Diamantino Azevedo, urged the newly appointed members of the Board of Directors of the National Petroleum, Gas, and Biofuels Agency (ANPG) to uphold the ongoing initiatives aimed at stabilizing production and sustaining strategies for block bidding. Presiding over the inauguration ceremony in Luanda, Azevedo emphasized the need for swift action to ensure the implementation of these directives. Acknowledging the accomplishments of the outgoing administration over the past

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Gas International News

EGAS and BOTAŞ sign Collaboration Agreement for Natural Gas and LNG Trading

The Egyptian Natural Gas Holding Company (EGAS) and Turkey’s state energy company, BOTAŞ, have forged an agreement to collaborate on natural gas and LNG trading. This landmark agreement was formalized during President Erdogan’s first visit to Egypt in over a decade. The collaboration encompasses various facets, including exploring natural gas and LNG trading opportunities, joint efforts in natural gas infrastructure development and underground storage, as well as the exchange of technical expertise and knowledge. In

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Energy Gas International News

U.S. Positioned to Lead Africa’s LNG and FLNG Expansion

As Africa gears up to harness its gas resources for both domestic consumption and international markets, the United States is increasingly recognizing liquefied natural gas (LNG) as a pivotal avenue for investment, alongside traditional oil exploration. Recent projections by energy research and consultancy group Wood Mackenzie in October 2023 highlighted Africa’s ambitious $800-billion, 20-year upstream capital expenditure program, poised to yield world-class LNG projects in Mozambique and floating LNG (FLNG) ventures across five countries. This

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