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Category: Gas

Economy Gas Oil

Market Report: Nigeria Introduces New Oil & Gas Regulations

The Minister of State for Petroleum Resources, Chief Timipre Sylva, has announced the introduction of six new regulations derived from the Petroleum Industry Act 2021 in Nigeria. These regulations aim to promote sustainable growth in the midstream and downstream sectors of the oil and gas industry, providing clarity for industry operators and regulators. The new regulations are designed to facilitate industry expansion, economic development, and prosperity. They cover various aspects, including midstream and downstream operations,

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Economy Gas Oil

Top 5 Licensing Rounds to Watch in West Africa

With as many as 12 licensing rounds expected to close in West Africa in the coming months, interest from international oil companies (IOC) is expected to bring significant investment into the region’s exploration and development sectors. Following the recent discoveries of sizeable oil and gas plays throughout the continent, new licensing rounds are expected to position West Africa as a frontier exploration hub and usher in a new era of industry growth, energy security and

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Economy Energy Gas Oil

Rystad Energy Analyzes LNG’s Potential in the Global Energy Transition

Amidst increasing efforts by governments worldwide to secure energy supplies following Russia’s invasion of Ukraine, investments in the oil and gas industry are surging. This wave of investment aims to ensure a reliable, affordable, and sustainable energy future. Rystad Talks Energy’s May edition webinar – entitled, ‘Supplying energy security, who has a Part to Play? – focused on the pivotal role of natural gas and liquefied natural gas (LNG) in global energy security. The webinar

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Energy Gas International

Namibia and Hyphen Ink Export Deal for $10B Green Hydrogen Project

The Namibian Government will sign a feasibility and implementation agreement (FIA) with green hydrogen development company Hyphen Hydrogen Energy for the country’s $10 billion green hydrogen project, to be located in the Namib Desert’s Tsau//Khaeb National Park. The deal is expected to be signed on Friday, May 26, and marks the next phase of the project’s development. It also outlines the terms of offtake, which involve exporting Namibian green hydrogen to Europe. The FIA provides

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Economy Energy Gas Oil

Eni and Sonangol Strengthen Collaboration in Agribusiness and Energy Decarbonization

Italian multinational oil and gas major Eni and Angolan National Oil Company Sonangol have signed a Memorandum of Understanding (MoU) to boost cooperation in the agribusiness sector and energy decarbonization. The MoU was signed in Rome during Hon. João Lourenço’s state visit to Italy this week. Claudio Descalzi, CEO of Eni, and Sebastio Pai Querido Gaspar Martins, Chairman of the Board of Directors of Sonangol, signed the agreement. The MoU aims to enhance cooperation between

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Economy Energy Gas Oil

Gabon: Positioning Oil & Gas as a Catalyst for Nationwide Growth

With its economic indicators showing clear signs of recovery, and the current Parti Démocratique Gabonais (PDG) set to retain power after this year’s elections, Gabon’s economic plans are moving ahead at full speed. Under its 2025 Plan for an Emerging Gabon (PSGE), the country is seeking to facilitate the influx of private capital and participation in both the hydrocarbons value chain and diversified industrial base, leveraging private sector growth to fuel diversification into non-oil sectors like gas,

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Energy Gas International News

TotalEnergies Publishes Security Report and Action Plan for Mozambique LNG

Global oil and gas major TotalEnergies and its partners in the Mozambique LNG project have published an action plan on how they will progress with the development of the natural gas initiative in the southern African country. The plan, proposed by human rights expert Jean-Christophe Rufin, aims to address the relationship between Mozambique LNG and the Cabo Delgado unrest. It involves implementing a socioeconomic development program, focusing on enhancing the local economy, infrastructure, and environmental sustainability in the region.

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Economy Energy Gas Oil

Perenco Inaugurates New Production and Training Platform Offshore DRC

Independent Anglo-French oil and gas company Perenco has inaugurated a new  offshore platfrom, named Magisus in Muanda in the Democratic Republic of Congo (DRC). The offshore facility, which was launched by H.E Didier Budimbu, Minister of Hydrocarbons, DRC and Wivine Moleka, Deputy Minister of Hydrocarbons, DRC will be leveraged by Perenco to increase oil production by enabling the independent to connect new wells drilled in 2023 and 2024.  The facility’s gas compression capabilities will help Perenco to avoid

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Energy Gas International

Egypt and Scatec Sign $450 Million MoU for Green Methanol Plant

The Alexandria National Refining and Petrochemicals Company (ANRPC), an Egyptian chemicals firm, has signed a Memorandum of Understanding (MoU) with Norwegian renewables company Scatec to collaborate on a $450 million green methanol production project. This project is being undertaken in partnership with the Egyptian Bioethanol Company and was announced by Egypt’s Ministry of Petroleum and Mineral Resources. The green methanol plant will be situated in the port of Damietta and is expected to have an

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Economy Gas International

Gas exploration can help the Mozambican economy grow

The Mozambican economy could grow around 8 percent in 2024, strongly influenced by the exploitation of liquefied natural gas, according to projections by the International Monetary Fund (IMF). The organization indicates that the economic prospects are based mainly on growth of 4.5 percent and 5 percent recorded in 2022 and 2023, respectively, higher than the regional average of 3.5 percent in the last two years. The information was provided in Maputo by the IMF representative

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