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Category: Petroleum

International News Petroleum

Namibian Content Policy is Taking Shape, Says Petroleum Commissioner

Namibia is making significant progress in shaping its Namibian content framework, with the draft policy already under discussion. Speaking at the Namibian International Energy Conference (NIEC) in Windhoek, Maggy Shino, Petroleum Commissioner at the Ministry of Mines and Energy, emphasized the collaborative effort underway to refine the policy. Shino highlighted the importance of broad stakeholder input, emphasizing that the framework aims to stimulate economic growth and requires careful consideration. Notably, existing provisions within the petroleum

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International Oil Petroleum

TotalEnergies Partners with Zambo Energy to Enhance Fuel Supply to South Africa

TotalEnergies, a leading energy supermajor, has announced a strategic partnership with chemical manufacturing company Zambo Energy to supply fuel products to South Africa. The partnership was unveiled during an energy summit in Cape Town on April 23, reaffirming TotalEnergies’ commitment to enhancing integration with its marketing affiliates across South Africa. “Security of supply and competitiveness are paramount,” emphasized Thomas Waymel, Senior Vice-President of Trading and Shipping at TotalEnergies. “We are dedicated to expanding our energy

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Local Gas News Oil Petroleum

Diesel prices will cost 200 kwanzas per liter from this Tuesday

A liter of diesel will cost 200 kwanzas from zero o’clock today, the 23rd, according to a statement from the Petroleum Derivatives Regulatory Institute released on Monday. According to the document, the measure is part of the gradual adjustment until 2025 of the public sale prices of petroleum products to market levels. “The Petroleum Derivatives Regulatory Institute informs, on the other hand, that the prices of gasoline, illuminating oil and liquefied petroleum gas, also known

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International News Oil Petroleum

Santos Faces Revenue Dip in First Quarter Amid Production Challenges

Australian oil and gas giant Santos reported a decline in first-quarter revenue by approximately 14% on Thursday, attributing the decrease to reduced production levels and lower volumes across its product range. Various factors, including severe weather conditions and planned maintenance activities, hampered production during the quarter. Additionally, sales revenue was impacted primarily by decreased liquefied natural gas (LNG) and ethane volumes, albeit partially offset by higher realised prices. Santos produced 21.8 million barrels of oil

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International News Oil Petroleum

Custos Unveils Massive Oil Discovery in Namibia’s Orange Basin

Custos, a prominent player in the energy sector, recently announced a groundbreaking discovery at the Mopane complex in the Orange Basin. Initial estimates suggest that the complex harbors over 10 billion barrels of oil equivalent, marking a significant milestone in the region’s oil exploration efforts. Situated within the PEL 83 blocks on blocks 2813A and 2814B, the Mopane complex is a joint venture project involving Galp Energia’s subsidiary and Custos, with Namcor holding a stake

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International Oil Petroleum

Equatorial Guinea: Petrofac Secures $350M Contract to Support NOC

International service provider Petrofac has been awarded a $350 million technical services contract by Equatorial Guinea’s NOC GEPetrol. In support of Equatorial Guinea’s Block B assets, Petrofac will deliver services across onshore support bases, an FPSO and a platform on behalf of GEPetrol – which serves as the block’s operator – for five years. “We will grow our economy through diverse partnerships and investment in our people. Combining our strong indigenous capabilities, with Petrofac’s global

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Local Gas News Oil Petroleum

Angola’s Newfield Deepwater FPSO Project Commences

Angola’s deepwater Block 15/06 partners have reached a significant milestone with the completion of the survey and installation of the initial modules of the FPSO for the Agogo field, according to reports from the country’s regulator. The National Oil, Gas, and Biofuels Agency (ANPG) announced that the first two modules of the FPSO Agogo have been successfully installed, marking the beginning of a crucial phase in the project. ANPG stated, “These are the first two

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Oil News Petroleum

South Sudan Expected to Restart Crude Oil Exports in 6-8 Weeks

South Sudan may restart export of its heavy sweet Dar Blend crude oil via the Petrodar pipeline to the Bashayer Marine Terminal in Port Sudan in six to eight weeks. The Petrodar pipeline, which transports approximately 100,000 barrels per day (bpd) for export via Sudan, has been hampered by stoppages since February. As stated by South Sudan’s Finance Minister Awow Daniel Chuang to Argus Media, the pipeline will undergo repairs while the country continues to

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International News Oil Petroleum

Shell and NLNG Enter Legal Battles Over LNG Supply Disputes

Shell Plc has lodged complaints with US regulators against Venture Global LNG (VGL) for allegedly breaching their supply contract. Similarly, Nigeria LNG Ltd (NLNG) is embroiled in a supply dispute, challenging an arbitral award demand order in a UK high court. An industry insider links these disputes to a surge in the LNG market, causing unexpected losses to highly profitable margins. With LNG demand soaring amid global market dynamics, major suppliers are allegedly defaulting on

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International Oil Petroleum

Niger Signs $400M Crude Oil Deal with CNPC

Niger signed a memorandum of understanding with the state-owned China National Petroleum Corporation (CNPC) for the sale of crude oil from the Agadem oilfield. The deal is worth $400 million. Jiang Feng, Chinese Ambassador to Niger, said the deal forms efforts by the two countries to strengthen cooperation. A producing conventional oilfield, the Agadem field is located onshore Niger. The country is expected to transport oil from the field via the 110,000 barrels per day

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