As the European Union introduces an extensive windfall tax, the region is putting pressure on other parts of the world to do the same. The U.K. may have already taxed oil and gas companies to subsidize rising consumer energy bills, but the E.U. is going one step further by planning a total overhaul of the energy market. Yet, other world powers, such as the U.S., have avoided taxing energy companies, instead turning to the oil
BP has restarted production at its offshore Na Kika and Thunder Horse oil platforms in the Gulf of Mexico after redeploying previously evacuated staff, BP PLC said on Thursday. BP halted production on the two platforms on Monday ahead of Hurricane Ian that made landfall in Florida on Wednesday. Chevron had also evacuated personnel and shut its production at its Petronius and Blind Faith platforms in the Gulf ahead of the storm. As of Thursday, 11 total
Africa Oil Week Gold Sponsor SNPC shares its expertise ahead of AOW 2022 Ahead of Africa Oil Week (AOW) 2022 (www.Africa-OilWeek.com), gold sponsor SNPC shares their thoughts on exploration and development of natural hydrogen in the Congo Project Assessment of the CO2 sequestration potential in the Congolese coastal basinContext of the Project: Fight against greenhouse gases from the production of hydrocarbons/ promotion and valorization of renewable energiesPARTNER: PGSOBJECTIVES: Decarbonization of oil production activity in the
This year’s Prospects Forum will showcase a wide range of attractive farm-in and exploration opportunities in established and frontier markets Amidst a recent surge of exploratory drilling in Africa, Africa Oil Week (https://Africa-OilWeek.com) is organizing once again a Prospects Forum to offer a platform that will showcase some of the most attractive farm-in and exploration opportunities on the continent. The Prospects Forum will be moderated and animated by African investment and commodities research agency Hawilti
Green hydrogen and fuel cells will be a very important part of any future energy system, says Switzerland-based energy and sustainability consultancy strategist Dr David Hart. Among the electrolysers that convert renewable electricity into green hydrogen are proton exchange membrane (PEM) electrolysers, with PEM fuel cells then converting the green hydrogen back into green electricity for mobility and stationary power. Both technologies are reliant on platinum group metals (PGMs), which are sourced overwhelmingly from South Africa.Hart, who was speaking to Engineering News & Mining Weekly in a Zoom interview,
HARARE- Australian-listed Invictus Energy has started drilling one of two exploration wells for oil and gas in the northern part of Zimbabwe, the company said on Monday. The 3.5-km deep well, situated in the Muzarabani-Mbire area, is part of the Cabora Bassa project in Zimbabwe, which is 80% owned and operated by Invictus through its interest in Geo Associates. Invictus said in a statement that the drilling of the first well, Mukuyu-1, began on Friday and will last between 50 and 60 days. Mukuyu, which will cost
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
