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Category: International

Energy Gas International Oil

Savannah Energy’s South Sudan Oil Deal is a boost for Jobs, Local Content and Women Empowerment

Savannah Energy has announced its agreement to purchase producing oil fields in South Sudan, a deal which follows the company’s 9th of December announcement of its procurement of ExxonMobil’s upstream and downstream portfolio in Chad and Cameroon Africa-focused British independent energy company, Savannah Energy, has announced the acquisition of producing oil fields in South Sudan from Malaysian state oil and gas company, Petronas, a move highly supported by the African Energy Chamber (AEC) (http://www.EnergyChamber.org). The

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Economy Energy Gas International News Oil Renewable Energy

Brent trading at $78

A barrel of Brent oil, a reference to Angolan exports, was traded yesterday until around 5 pm in Angola, at the price of US$78.29.Until that moment, the price represented an appreciation of 2.19 dollars, equivalent to 2.88 percent when compared to 76.1 dollars the day before. As can be seen from the indicators on the Investing.com platform, Monday’s trading peaked at $78.58. Over the past few days, oil prices have been steadily easing on fears

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Economy Energy Gas International News Renewable Energy

ExxonMobil reduces oil production in Equatorial Guinea

US oil company ExxonMobil is expected to leave Equatorial Guinea in 2026, after reducing production at the Zafiro well to 15,000 barrels per day. “We are currently evaluating the best way to leave, in close collaboration with the Ministry of Mines and Hydrocarbons”, confirmed a spokeswoman for ExxonMobil, after news from the specialized press that reported the complete exit from the country. ExxonMobil reduced production in the Zafiro field from 45,000 to 15,000 barrels of

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Energy International Renewable Energy

Private power booms as green energy attracts finance

International investors are also being attracted by Africa’s renewable-energy opportunities Private power is booming. This was the message from Rand Merchant Bank (RMB) CEO Emrie Brown at the Green Energy Africa Summit (GEAS) (https://GreenEnergyAfricaSummit.com/), taking place at the Cape Town International Conference Centre from October 4-5. Brown was speaking during a successful first day of the Summit, which drew hundreds of local and international delegates. Brown identified a growing trend for metros and private companies to

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Energy Economy Gas International

Only One EU Member Is Still Receiving Russian Natural Gas

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

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Economy International Oil

Oil Traders Are Cashing In On Volatile Markets

The world’s commodity and oil traders are playing a crucial role in securing supplies amid a global energy crisis and disrupted trade flows following Russia’s invasion of Ukraine. Last week, the world’s biggest oil and gas traders met in Singapore for one of their industry’s top conferences. The war in Ukraine has been a double-edged sword for these traders who historically have been leading shippers of Russian oil. On one hand, they have benefited from being able to

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Gas International

Why Have U.S. Natural Gas Prices Soared Since 2020?

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

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Energy Economy Gas International Oil

Income Investors Are Returning To Oil And Gas Stocks

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

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Energy International News

Energy Sector Is The Exception A In Lackluster IPO Market

n more ways than one, the IPO market isn’t quite what it used to be a decade or two ago. The proportion of U.S. companies that choose to go public has been on a steady decline for more than two decades now, with startups often opting to sell out to bigger firms or remain private. Many observers have laid the blame for this unfortunate trend squarely on increasing red tape including rising regulatory and disclosure

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Economy Energy International News Oil

Major Commodity Trader Sees Looming Oil Price Spikes

While traders and investors in the paper oil market are focused on looming recessions and interest rate hikes, those on the ground – executives at oil producers and commodity traders – warn of oil price spikes in the future as years of underinvestment have depleted capacity and the potential of new oil production to fill the growing supply gap.  Recession Fears Drag Oil $40 A Barrel Down From Spring Peak Growing fears of imminent recessions

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