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Category: Oil

Gas Local News Oil

2023 Angola Oil & Gas (AOG) Highlights Youth’s Vital Role in Future Oil & Gas

As the energy industry undergoes transformative changes, organizations, government bodies, and companies are actively advocating for enhanced participation of youth in the sector. Concluding the second day of the Angola Oil & Gas (AOG) 2023 conference, a panel of Angolan energy leaders emphasized the central role that youth play in transforming the dynamic energy sector, integrating innovation and technology that will be instrumental in creating a strong, resilient energy sector. Ahead of the panel, Abel

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Gas Local News Oil

Strategic Partnership: Ambipar and Kini Energias Join Forces to Foster Professional Growth in Luanda

The second day of the Angola Oil & Gas (AOG) 2023 conference and exhibition featured the signing of a partnership agreement between the environmental management company, Ambipar, and the energy company, Kini Energias. Signed by Rogério Calderaro, CEO of Ambipar, and Bráulio Brito, Managing Partner for Kini Energias, the services covered by the agreement will include the installation of an industrial unit for the assembly and testing of waste suction equipment and for the control

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Gas Local News Oil

Angola Marks 63rd Anniversary of OPEC with Commemorative Celebration

Angola commemorated the Organization of Petroleum Exporting Countries (OPEC) and renewed its commitment to market stability on the second day of the Angola Oil & Gas 2023 Conference & Exhibition, which coincided with the 63rd anniversary of the organization that was founded on September 14, 1960, in Baghdad. OPEC plays a crucial role in stabilizing the oil market, fostering coordination and unity among petroleum producers. Angola, an OPEC member since 2007, has benefited from OPEC’s

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Local News Oil

Announcing the Angola Oil and Gas (AOG) 2023 Award Recipients: Celebrating Excellence

Under the event’s broader theme of ‘Energy Security, Decarbonization and Sustainable Development,’ the AOG 2023 awards, which were announced on the first day of the event, sought to identify the companies pioneering the oil and gas industry in Angola. Local Company of the Year Award: Etu Energias Awarded to the most promising Angolan company, whose support and development of the local workforce and local exploration and production efforts continue to ensure the sector’s viability and

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International News Oil

Kuwait Oil Company Nears Completion of First Offshore Drilling Operations

Kuwait Oil Company anticipates concluding its inaugural offshore oil and gas exploratory and drilling initiatives by 2026, according to the firm’s chief geologist. The exact timeline remains contingent on the progress made during the sea-based operations, as explained by Ahmed Al-Otaibi during a briefing at Kuwait’s oil ministry. Should the drilling operations prove successful, they hold the potential to usher in new production phases, potentially enhancing Kuwait’s oil and gas output. This foray into offshore

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International News Oil

Nigeria Surpasses Angola to Become Africa’s Second-Largest Oil Producer

The Organisation of the Petroleum Exporting Countries (OPEC) revealed that Nigeria’s oil production in August 2023 rose to 1.18 million barrels per day (bpd), up from 1.08 million barrels in July. This increase allowed Nigeria to move from third place to second place among Africa’s largest crude oil producers, trailing behind Libya. OPEC’s monthly oil market report attributed Nigeria’s improved output to direct communication for the month of August 2023. Although Nigeria’s 100,000 barrel increase

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International News Oil

Chevron’s Australian LNG Facilities Grapple with Escalating Worker Strikes

Workers at two LNG projects operated by Chevron have escalated their industrial action that began earlier this week and plan further escalations in the coming weeks. While the unions representing the workers have not specified how many hours every day the workers at Gorgon and Wheatstone would strike, Chevron said that it had been notified of rolling 24-hour work stoppages beginning in the early morning today. The industrial action has not yet affected LNG exports

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Economy Gold International News Oil

Crude Oil, Gold and Other Commodity Markets

Benchmark US crude oil for October delivery fell 32 cents to $88.52 a barrel on Wednesday. Brent crude for November delivery fell 18 cents to $91.88 a barrel. Wholesale gasoline for October delivery increased by 1 cent to $2.74 per gallon. October heating oil saw an 11-cent rise, reaching $3.44 per gallon. October natural gas declined by 6 cents to $2.68 per 1,000 cubic feet. Gold for December delivery dropped by $2.60 to $1,932.50 per

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Economy Local News Oil

Executive Calls for Oil Industry Collaboration to Drive Economic Diversification

The Minister of State for Economic Coordination, José de Lima Massano, expressed on Wednesday in Luanda the government’s commitment to provide all necessary support for the continuation of economic diversification efforts, with the participation of oil companies. José de Lima Massano, who was speaking at the opening of the 4th Annual Oil and Gas Sector Conference and Exhibition, stated that the government would not cease to make the necessary investments in natural resources, including petroleum

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Economy Local News Oil

Angola Aims to Sustain Oil Production at Over One Million Barrels per Day

The Minister of Mineral Resources, Petroleum, and Gas stated on Wednesday in Luanda that the current government’s focus is to keep oil production above one million barrels per day in the coming years. The biggest challenge in the upstream sector is the mitigation of the sharp decline in oil production,” emphasized the minister during his speech at the opening ceremony of the 4th International Conference and Exhibition “Angola oil & Gas 2023.” “Among the ongoing

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