Global oil demand remains resilient despite slowing economies and is likely to hold up even if recessions materialize, executives at some of the largest commodity trading houses said on Tuesday. Oil consumption has surprised to the upside in recent months, and there hasn’t been significant demand destruction, as previously expected, economists and researchers at the top traders said at the Argus European Crude Conference in Geneva. “All the different factors suggest, yes, we may be
The African Energy Chamber is proud to announce that Mary Burce Warlick, Deputy Executive Director of the International Energy Agency will attend and participate at African Energy Week 2022, shaping discussions around energy policies, investment trends, the energy transition and gender inclusivity across the sector Mary Burce Warlick, Deputy Executive Director, of the International Energy Agency (IEA), will be coming to Cape Town to attend and participate at the African Energy Week (AEW) (https://AECWeek.com/) conference
With three of the four pipelines delivering Russian natural gas to Europe out of commission, Hungary is now the only EU member state still receiving Russian gas, Forbes Hungary writes. There are four pipelines that could supply Russian natural gas to Europe: Due to the huge income Russia has made from soaring gas prices, coupled with a massive reduction in other trade with Europe, Russia has no interest in completely shutting down these pipelines. Although Hungary still receives gas, its price
During the continent’s biggest energy event for the oil and gas sector, energy lawyer Jay Park will be leading an oil and gas training workshop (“How a Petroleum Regime can lead to Prosperity or Plunder”) aimed at scaling up capacity building and transferring critical skills This year’s edition of African Energy Week (AEW) (www.AECWeek.com) – taking place from October 18-21 in Cape Town – takes place under the theme, ‘Exploring and Investing in Africa’s Energy Future
The price of a barrel of Brent oil, which serves as a reference for Angolan exports, for delivery in December ended today on the London futures market up 0.98%, to US$88.82. Brent’s price rose amid speculation among investors about plans by the group designated OPEC+, which brings together members of the Organization of Petroleum Exporting Countries (OPEC) and allies such as the Russian Federation, to reduce by one million barrels a day to boost the
The price of a barrel of Brent oil was trading, in this Monday’s session, on the London Futures Market, at US$ 88.8, up by more than 4.4 percent, with the previous value of 85, 1 USD positioning the observed rise above 3.7 USD from the opening price. According to data from Investing.com, since 28 September, prices for a barrel of Brent, a reference for Angola’s exports, have not reached this level. On the given date,
Soaring natural gas prices, demand destruction in the industrial sector, and energy-saving measures are set to reduce gas consumption in Europe’s developed economies by 10% this year, the biggest drop in European demand in history, the International Energy Agency (IEA) said in its quarterly Gas Market Report on Monday. The forecast of a 10% decline in natural gas demand in OECD Europe reflects the expectation of higher gas prices and the EU’s ambition to reduce gas consumption
What ensued was a discussion of the influences in the natural gas markets in recent years. Indeed, the comment above is correct that most of the demand increase in U.S. natural gas production in recent years has been in power generation, as power plants phased out coal. Over the past 20 years, natural gas devoted to power production has increased from 5.3 trillion cubic feet (Tcf) in 2001 (24 percent of production that year) to
Some investors have started to see oil and gas stocks as income investment stocks rather than boom-and-bust cyclical stocks, as many others still believe. Record cash flows and profits of the past two quarters have prompted many oil and gas firms to boost dividends or pay special variable dividends, as is the case with U.S. shale producers. Many more expanded and increased their share buyback programs. The record profits and the cash flow bonanza could lay the foundations
Panel Discussion part of South Africa Energy Day – only at Africa Oil Week Africa Oil Week (https://Africa-OilWeek.com) is excited to present the panel discussion “What can Oil and Gas offer the South African Economy?” as part of its South Africa Energy Day, at Africa Oil Week. The panel – held at the leading Oil and Gas event in heart of Cape Town – will be moderated by Howie Frylinck, National Sales Manager, Pentagon Freight Services.
