With the EU embargo on imports of Russian oil starting in December, Russia will have to find new homes for around 2.4 million barrels per day (bpd) of its crude and refined product exports, which will be banned from entering EU and G7 countries unless the oil is sold at or below a certain price the buyers expect to set. Even if the price cap mechanism fails to work for the West, as many analysts expect, and
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
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 National Agency of Petroleum, Gas and Biofuels (ANPG) signed, this Wednesday, with its counterpart in Brazil, the National Agency of Petroleum, Natural Gas and Biofuels (ANP), a cooperation agreement for regulation and inspection programs. exploration, development and production activities. According to a press release from the ANPG to which Jornal de Angola had access today, the signing took place during the Rio Oil & Gas Conference taking place in the city of Rio de
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
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
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
Energy Investment Village gives real opportunities to start-ups The Green Energy Africa Summit (GEAS) will give start-up companies an opportunity to connect with industry leaders and government officials through its Energy Investment Village, which features a selection of the most compelling local clean-tech projects. The companies will have the chance to pitch to energy leaders holding potential investments worth more than $100 billion. The Energy Investment Village is a partnership with the Saldanha Bay Innovation
Sonangol has officially been confirmed as a Diamond Sponsor at this year’s upcoming Angola Oil & Gas 2022 Conference and Exhibition Energy Capital & Power (https://EnergyCapitalPower.com) is proud to announce that Angola’s National Oil Company (NOC), Sonangol (www.Sonangol.co.ao), has been confirmed to participate at the Angola Oil & Gas (AOG) 2022 Conference and Exhibition (https://bit.ly/3Cdj47i) taking place on 29-30 November and 1 December in Luanda – as a Diamond Sponsor. Angola’s impressive energy developments continue
