Savannah Energy’s Nigerian subsidiary, Accugas Limited, has signed a gas sales agreement with exploration and production firm Amalgamated Oil Company Nigeria Limited (AMOCON) to supply natural gas to the local market. AMOCON will supply Accugas Limited with up to 20 million standard cubic feet of natural gas per day (MMscfpd), produced in the OML 156 sole risk petroleum lease area onshore Nigeria, over a period of ten years. AMOCON will leverage its new 140m pipeline
U.S. oil and gas production has continued to rise in response to high prices that were prevalent until the third quarter of 2022, according to an article by John Kemp of Reuters. In March, oil output increased by 171,000 barrels per day compared to February, with gains led by the Lower 48 states and the Gulf of Mexico, offsetting lower production from Alaska. Overall, oil output rose by nearly 10% in the first three months
In case you missed the announcements, here is a list of the top five contracts secured for oil and gas projects in the Middle East. Please note that this list is not a ranking. Aramco has awarded a $1 billion engineering, procurement, construction, and installation (EPCI) contract for its Safaniya offshore increment project to China Offshore Oil Engineering Co (COOEC), as reported by DMS Projects. The project includes the construction of 13 offshore jackets in
The Invest in African Energy Forum in Paris, organized by the African Energy Chamber in partnership with Rystad Energy and Afreximbank, centered on strengthening Africa-Europe relations while advancing investment in untapped energy opportunities across the continent. During the forum, the Republic of the Congo’s Hydrocarbons Minister, H.E. Bruno Jean-Richard Itoua, provided insight into the country’s gas and marginal field opportunities, laying the foundation for discussions during the African Energy Week conference, scheduled for 16-20 October in Cape Town. Representing one
Since early discoveries of oil and gas in Africa, European investors and project developers have been instrumental in driving project developments, providing capital, technology and expertise and working closely with governments to monetize resources. Now, shifts in dynamics are seeing global stakeholders playing a much larger role in Africa, transitioning from energy players to partners as local content becomes a top priority continent-wide. At the Invest in African Energy Forum in Paris this week – representing a
Energy Capital & Power (ECP) is proud to announce the participation of H.E. Dr. Omar Farouk Ibrahim, Secretary General of the African Petroleum Producers Organization (APPO), as a speaker at the upcoming MSGBC Oil, Gas and Power 2023 Conference and Exhibition – West Africa’s leading event for the energy industry. Dr. Omar Farouk Ibrahim is a Nigerian scholar and public servant with over two decades of experience in government. He is a recipient of numerous academic and
Congo’s Ministry of Hydrocarbons signed a cooperation agreement with French energy services provider Technip Energies during the Invest in African Energy Forum in Paris. Signed by Minister H.E. Bruno Jean-Richard Itoua and Technip Energies COO Marco Villa, the deal will see the parties expand cooperation on capacity building in the fields of onshore and offshore energy developments at a time when the Central African country is looking at expanding its energy market. As per the
Namibia’s Minister of Mines and Energy Hon. Tom Alweendo debunked statements that the government is looking at raising the state’s interests in petroleum production developments in the country. Speaking during the Invest in African Energy Forum in Paris this week – taking place ahead of African Energy Week 2023, scheduled for 16-20 October – the Minister clarified that Namibia will maintain its existing stakes in E&P assets, as defined by the contracts established and signed with global
Gold prices fell in UAE and globally on Thursday morning as investors expect more interest rate hikes by the US Federal Reserve. The Dubai Jewellery Group data showed 24K trading at Dh238.0 per gram at the opening of the markets on Thursday, down from Dh238.75 per gram at the close of the markets on Wednesday. The other variants of the precious also opened lower as 22K was trading at Dh220.25, 21K at Dh213.25 and 18K
India and China’s purchases of Russian crude oil in May are seen to have breached all-time highs. As buyers including these two big economies gorged on discounted supplies from Russia, it led to a fall in demand for oil from the Middle East and Africa, news agency Reuters reported citing ship tracking data. China, world’s No. 1 crude importer, India (world No. 3) are top buyers of Russian oil. In May In May, these two
