Sonangol is unloading 34 tanks of liquefied petroleum gas (LPG), known as cooking gas, at the Barra do Dande Ocean Terminal (TOBD), as part of the completion of that project designed to gather a storage capacity of 102 thousand meters cubic meters of that fuel, optimize the distribution and constitution of the country’s Strategic Petroleum Derivatives Reserve. The operation is complex, according to the project director, Mauro Graça, quoted yesterday by the Sonangol program at
The Angolan Debt and Stock Exchange (BODIVA) approved, on Friday 25th August, in Luanda, the requests for a Special Session to be held on the Stock Exchange and for admission to trading of the private Bonds of the Sociedade Nacional de Combustíveis de Angola, EP (SONANGOL). As explained in the statement sent to the newsrooms, the Special Session on the Stock Exchange will take place between 9:00 am and 3:00 pm on September 13th and
According to the Presidency, the cost of compressed natural gas (CNG), a less expensive substitute for premium motor spirit, often known as gasoline, is anticipated to be N250 a liter. The Federal Government and other stakeholders have proposed using compressed natural gas (CNG) as part of their attempts to reduce the cost of public transportation following the loss of fuel subsidies, which increased the cost of the good. This was announced by Ajuri Ngelale, Special
The gas exploration company, Kinetiko Energy, through its subsidiary Afro Energy, has signed a non-binding Term Sheet with the South African national development finance institution, the Industrial Development Corporation (IDC), to co-develop a Joint Venture (JV) for the production of the country’s largest onshore Liquefied Natural Gas (LNG) project. Announced on 22 August, the first phase of the project will deliver 50 MW of gas equivalent energy and is expected to be developed over two
The North Field, located northeast of the Qatar peninsula, is the largest non-associated natural gas field in the world. QatarEnergy has awarded Técnicas Reunidas an additional Engineering, Procurement, and Construction (EPC) contract for work including pipelines, interconnections, ancillary systems, and other supporting components of the LNG Offplot facilities for the North Field South Project, the Spanish contractor said in a press release. Técnicas Reunidas is currently executing the EPC works for the expansion of the
Natural gas prices are likely to decline further today after Woodside Energy reached an in-principle agreement with a trade union that should significantly reduce the risk of industrial action at the largest LNG production facility in Australia. That’s according to ING’s Warren Patterson and Ewa Manthey, who wrote a note today, stating that natural gas prices in Europe had already shed 14% on Wednesday due to the prospect of an agreement between Woodside and its
The Minister of State for Petroleum and Gas, José Barroso, observed the progress of the construction of the future refinery in Cabinda. During the technical visit to the refinery project, José Barroso received explanations from the Odebrecht representative, Joel Peito, with a focus on phase 1 of the refinery. Joel Peito also presented the ongoing infrastructure and civil works, the 30,000 barrels per day distillation unit, which is considered the heart of the refinery, the
The Ivory Coast’s Minister of Mines, Petroleum and Energy, Mamadou Sangafowa Coulibaly, has announced the country’s plans to fast-track the development of gas reserves in Blocks CI-523 and CI-525. The aim of these plans is to strengthen the resilience of the local electricity market through the provision of gas-fired power generation. “These deposits, which have been awaiting development for several decades, require integrated development, which will boost our natural gas production capacity,” said the Minister.
From 2023 to 2027, Nigeria, Algeria, and Egypt are anticipated to control the African natural gas and liquefied natural gas (LNG) supply market, as the use of fossil fuel becomes unpopular globally. Data from the African Energy Chamber’s August 2023 State of African Energy report support this. The analysis estimates that Africa’s natural gas supply will be at 25.5 billion cubic feet per day (Bcf/d) in 2023, an increase of 1% from 2022. Meanwhile, long-term
Global spending on conventional oil and gas exploration will hit over $50 billion in 2023, according to energy research company Rystad Energy. Upstream companies are strategically directing their investments towards offshore projects, focusing on lucrative regions that have a robust geological understanding. Rystad Energy says that up to 95% of the total expenditure in 2023 is allocated to offshore initiatives. “Upstream companies are facing a period of uncertainty. They are eager to capitalize on the increased
