The price of a barrel of Brent oil, which serves as a reference for Angolan exports, for delivery in September ended, Monday, on the London futures market down 1.07%, to US$77.69. File Despite the rise registered in the price, in coincidence with the closure of the European stock exchanges, which would have allowed it to close higher, Brent could not withstand the gains and returned to last week’s levels, with the exception of Friday the
Brent crude futures were down $0.40, or 0.5%, to $78.07 a barrel at 1005 GMT and West Texas Intermediate crude was also down $0.40, or 0.5%, to 73. .46 dollars per barrel. “Oil investors should be cautious ahead of the US CPI and China economic data series later this week,” CMC Markets analyst Tina Teng said of inflation data due to be released next Wednesday. Friday’s data pointed to the lowest job gains in two
The South Sudan Oil & Power (SSOP) 2024 show was officially launched by South Sudan’s Ministry of Petroleum and organizer Energy Capital & Power. As a member of OPEC+, South Sudan is positioning itself as a player in the international petroleum sector and is becoming an attractive destination for onshore oil and gas investment. SSOP 2024 is scheduled to take place in Juba from June 25-28, 2024. During the OPEC 8th International Seminar in Vienna,
Equatorial Guinea’s Minister of Mines and Hydrocarbons, H.E. Antonio Oburu Ondo, will be delivering a keynote speech at the Angola Oil & Gas (AOG) conference in Luanda from September 13-14, 2023. H.E. Minister Ondo, who is also the current President of the Organization of Petroleum Exporting Countries (OPEC), brings a wealth of experience to the conference, having previously served as the Managing Director of Equatorial Guinea’s National Oil Company (NOC) GEPetrol. His participation at the
The price of a Brent barrel for delivery in September closed at $78.31 dollars yesterday in London, after closing at $76.52 dollars the previous day. Oil also closed higher, with WTI advancing over 2.0 percent in the return of electronic trading during the U.S. holiday on Tuesday, the 4th. Investors followed news about the seminar of the Organization of the Petroleum Exporting Countries and allies (OPEC+), in which the cartel reaffirmed its commitment to support
Driven by a surge in market conditions, Ghana is expected to commence 17 oil and gas projects during the outlook period 2023-2027. The West African country’s upstream sector will see the development of three offshore fields, while its midstream landscape currently has nine projects in development, with the downstream sector involving the development of two refineries and three petrochemical processing facilities. A Surge in Upstream Investments As one of Africa’s fastest-growing hydrocarbons producers, offshore field
The Minister of Mineral Resources, Oil and Gas presents today July 6th, in Vienna, Austria, the Executive’s strategic plan for the development of the oil industry and the energy transition in the country. Diamantino Azevedo presents this plan during a Ministerial session on the paths to energy transition, as part of the program of the 8th OPEC International Seminar, which takes place under the motto “A smooth and inclusive energy transition”, which brings together delegations from
The Angolan oil company ACREP will produce gas, from the 4th quarter of 2025, to generate electricity with the aim of supplying Cabinda province, revealed yesterday in Luanda, the director for Investor Relations, Pedro Sebastião. With this project, the second largest private oil company in Angola wants to contribute to increasing the supply of electricity levels in the northernmost region of the country, which is also known as the land of oil and wood. Interviewed
Independent Anglo-French hydrocarbon producer Perenco has started production at the South Kole Marine oil project located 50km off the coast of Cameroon. The project is now producing approximately 3,800 barrels of oil per day. The milestone follows an eight-month work program which required well architecture, pipelay and platforms to be installed. The program effectively proved the commercial viability of the marginal field. Located in depths of between 30 and 50m, the field was initially discovered by another operator
Ghana’s oil and gas industry has experienced significant growth following the discovery of commercial quantities of oil in the country’s Jubilee fields in 2007. As a result, the West African country has sought to leverage its immense hydrocarbon resources to position itself as a petroleum hub for the region. With 17 oil and gas projects poised for development between the outlook period 2023-2027, Ghana is set to become a world-class exporter of gas and petroleum products.
