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Category: Oil

Energy Gas Oil

Mauritania’s 80GW Hydrogen Pipeline Attracts Interest from Germany, World Bank, and Other Stakeholders

Mauritania, under the leadership of Minister of Petroleum, Mines, and Energy Abdessalam Mohamed Saleh, has set forth plans for hydrogen projects that could potentially generate an impressive 80 GW of electrolyser capacity. This pipeline is being planned by several renowned companies, including CWP, Chariot, bp, Conjuncta, and Infinity, and while the aspirations for Mauritania to become a green hydrogen hub are significant, two main challenges lie ahead: financing and building the required infrastructure. As such,

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Economy International Oil

Lower Crude Prices Drag Down Saudi Arabia’s Total Exports by 25% in March

Saudi Arabia, the world’s largest energy exporter, has seen a significant decline in its total exports, including both oil and non-oil exports, according to recent reports. Online portal Zawya stated that the country experienced a 25% year-on-year decrease, with total exports amounting to $28 billion in March, compared to $37 billion in the same period last year. Analysts attribute the decline in exports primarily to the softening of energy prices and reduced demand in Europe

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Economy Oil

Oil closes the week at $77

The Brent barrel, a reference for Angola’s oil exports, closed the week of May 22-26 at $77.14, a price that is more than $10 below the $85 taken as the baseline price in the 2023 State Budget (OGE/2023). It is worth noting that the price has been below $80 for over a month now. On April 26, precisely, the barrel was traded at $77.69, during a period when the highest high was $79.54 and the

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Economy Gas Oil

Market Report: Nigeria Introduces New Oil & Gas Regulations

The Minister of State for Petroleum Resources, Chief Timipre Sylva, has announced the introduction of six new regulations derived from the Petroleum Industry Act 2021 in Nigeria. These regulations aim to promote sustainable growth in the midstream and downstream sectors of the oil and gas industry, providing clarity for industry operators and regulators. The new regulations are designed to facilitate industry expansion, economic development, and prosperity. They cover various aspects, including midstream and downstream operations,

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Economy Gas Oil

Top 5 Licensing Rounds to Watch in West Africa

With as many as 12 licensing rounds expected to close in West Africa in the coming months, interest from international oil companies (IOC) is expected to bring significant investment into the region’s exploration and development sectors. Following the recent discoveries of sizeable oil and gas plays throughout the continent, new licensing rounds are expected to position West Africa as a frontier exploration hub and usher in a new era of industry growth, energy security and

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Economy Energy Gas Oil

Rystad Energy Analyzes LNG’s Potential in the Global Energy Transition

Amidst increasing efforts by governments worldwide to secure energy supplies following Russia’s invasion of Ukraine, investments in the oil and gas industry are surging. This wave of investment aims to ensure a reliable, affordable, and sustainable energy future. Rystad Talks Energy’s May edition webinar – entitled, ‘Supplying energy security, who has a Part to Play? – focused on the pivotal role of natural gas and liquefied natural gas (LNG) in global energy security. The webinar

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Economy Energy Gas Oil

Eni and Sonangol Strengthen Collaboration in Agribusiness and Energy Decarbonization

Italian multinational oil and gas major Eni and Angolan National Oil Company Sonangol have signed a Memorandum of Understanding (MoU) to boost cooperation in the agribusiness sector and energy decarbonization. The MoU was signed in Rome during Hon. João Lourenço’s state visit to Italy this week. Claudio Descalzi, CEO of Eni, and Sebastio Pai Querido Gaspar Martins, Chairman of the Board of Directors of Sonangol, signed the agreement. The MoU aims to enhance cooperation between

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Economy Energy Gas Oil

Gabon: Positioning Oil & Gas as a Catalyst for Nationwide Growth

With its economic indicators showing clear signs of recovery, and the current Parti Démocratique Gabonais (PDG) set to retain power after this year’s elections, Gabon’s economic plans are moving ahead at full speed. Under its 2025 Plan for an Emerging Gabon (PSGE), the country is seeking to facilitate the influx of private capital and participation in both the hydrocarbons value chain and diversified industrial base, leveraging private sector growth to fuel diversification into non-oil sectors like gas,

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Economy Oil

Italy is an Essential Partner, Says Angolan President During State Visit

Angolan President João Lourenço reiterated the value that Angola-Italy cooperation will continue to play in advancing the development of the country’s economy. Speaking during a state visit to Italy this week, the President made clear his country’s intention to strengthen bilateral ties, leveraging Italian expertise, technology and capital to generate new investment across high potential markets in the southern African country. According to the President, with mutually beneficial partnerships representing an important strategy for increasing job creation,

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International News Oil

Oil Prices Surge on Anticipated Rise in Gasoline Demand, Saudi Energy Minister Issues Warning

Gasoline rallied Monday as speculators looked for a demand boost as the Memorial Day holiday approaches, said Robert Yawger, executive director for energy futures at Mizuho, in a note. U.S. gasoline storage of 218.3 million barrels, as reported by the Energy Information Administration, is 12.6 million below the nine-year low of 205.7 million barrels from Nov. 4, 2022, “implying to me that a storage situation will likely develop at some point in the relatively near

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