Benchmark US crude oil for October delivery rose $1.55 to $88.84 a barrel on Tuesday 12th of September,2023. Brent crude for November delivery rose $1.42 to $92.06 a barrel. Wholesale gasoline for October delivery rose by 1 cent to $2.73 a gallon. October heating oil fell by 3 cents to $3.33 a gallon. October natural gas rose by 13 cents to $2.74 per 1,000 cubic feet. Gold for December delivery fell by $12.10 to $1,935.10
Iraq has invited global oil companies to bid for new oil and gas concession areas as part of its sixth round of licenses announced in June. In an address at an oil project conference and exhibition that was opened in the capital Baghdad on Sunday 10th September 2023, Iraqi Oil Minister Hayan Abdel Ghani said Baghdad is pursuing a drive to maximize the country’s gas deposits to slash imports from nearby Iran. “We hope that
With one day left before the fourth edition of the Angola Oil & Gas (AOG) Conference & Exhibition – which kicks off this Wednesday at Centro de Convenções Talatona (CCTA) – conference organizers Energy Capital & Power are gearing up to welcome a prominent line-up of energy ministers, industry leaders, financiers, and national and international oil executives to one of Africa’s most influential energy markets. AOG 2023 serves as the annual meeting place for the
The oil prices fell on Monday, even though a week ago, Saudi Arabia and Russia had announced new production cuts, driving prices to a ten-week high. Oil prices drop despite Saudi Arabia and Russia’s maintenance of cuts. Saudi Arabia and Russia announced last week that they would extend voluntary cuts of a combined total of 1.3 million barrels per day (bpd) until the end of the year. The price of Brent (the benchmark for Angolan
Two Angolan diamond concessions, Moirige and Chifuca, were presented by Endiama at Africa Down and Under (ADU), the main forum for commercial and governmental relations between the continent and Australia. The conference, which began on Wednesday, with a speech by the President of Botswana, Mokgweetsi Masisi, was attended by a representation from Endiama led by the director of Geology, Rogério Guimarães, who presented the Moirige and Chifuca concessions as “promising” and with “several studies carried
With a consumption of 420 metric tons of butane gas per year, Angola is self-sufficient and has a wide supply of this fuel known as cooking gas, with three operators deployed in production. José Barroso, who was speaking at a seminar called “Everything about Butane Gas”, organized by the Petroleum Derivatives Regulatory Institute (IRDP), added that the specifications of liquefied petroleum gas used in the country comply with established standards. The majority of production is
Within five days, Sonangol Pesquisa&Produção begins exploring for oil and gas in the Tubias well, in the Kwanza Terrestrial Basin block (KON-11), located in the municipality of Cabo Ledo, Luanda province. At this moment, the rig still needs to complete five percent of the technical work, in order to move forward with oil and gas drilling activity in the Tubias well, of which 95% has already been completed. The well is between 700 and 800
Angola’s oil export level will rise to 1.18 million barrels per day in October, reaching the highest value since July, reported financial information agency Bloomberg. According to Bloomberg, which cites the final cargo manifest, Angola will export 1.18 million barrels of oil in October, increasing compared to the 1.047 million daily barrels forecast for this month. For October, the final program foresees 38 cargoes with a combined volume of 36.52 million barrels of oil, given
Petrobras, a Brazilian state-owned oil company, decided to end the divestment processes at the Urucu, Bahia Terra and Campo de Manati hubs. The order, which also involves Petrobras Operaciones SA (a subsidiary of the state-owned company in Argentina), was communicated on 4th September and takes into consideration “the strategic adherence to the portfolio, as well as the profitability profile”, according to Carta Capital, citing the company. The decision tends to impact Petrobras’ Exploration/Production and Gas/Energy
London-listed Gem Diamonds has posted a loss a share of $0.07 and lower underlying earnings before interest, taxes, depreciation and amortisation of $8.4-million for the six months ended June 30, on the back of a downturn in the rough diamond market. This compares with the earnings a share of $0.027 and underlying Ebitda of $20.9-million posted for the prior comparable six months of 2022. The company’s attributable loss came to $1-million for the six months under review,
