The Department of Energy (DoE) has raised its projection for the Brent crude oil barrel price in 2023 to $79.54. The U.S. Department of Energy’s Energy Information Administration (EIA) increased the average price forecast for the Brent crude oil barrel in 2023 from $78.65 to $79.54. For 2024, the department raised the projection from $74.47 in the previous forecast to $83.51 per barrel. On Tuesday, June 6, the projections were published in the Short-Term Energy
In an exclusive interview with Energy Capital & Power, Khroumbaly Lehbib, the advisor in charge of upstream hydrocarbons at the Ministry of Petroleum, Mines, and Energy of Mauritania, discussed various aspects of Mauritania’s energy strategy. One of the key topics addressed was the development of a transportation system in the country, considering the upcoming gas production from the Greater Tortue Ahmeyim (GTA) field. Lehbib confirmed that the Mauritanian government is considering the construction of a
Sonangol considers having its own economic publications that allow for a more transparent communication process with the market and the group’s employees, according to the Director of Communication, Brand and Social Responsibility of the company. The Angolan oil company has been standing out in oil production in several blocks where it is the concessionaire and made these statements in an interview published in the magazine “Pacaça,” a publication of Sonangol named after an oil field
The President of the Association of Companies Providing Services to the Angolan Oil Industry (AECIPA) argued in favor of commercial banks providing financing to oil sector operating companies as a way to help them gain consistency and strength in order to better serve the national economy. In statements to Angop, Bráulio de Brito made this consideration when discussing the Legal Regime on Local Content, in which he deemed the non-existent financial capacity of national companies
The independent hydrocarbon producer, Perenco, has announced the commencement of production at the Boatou field located off the coast of the Republic of the Congo. This achievement comes after the commissioning of four wells between March and May of this year, finally enabling the company to initiate production at the field, which was discovered 39 years ago. With the capacity to produce up to 4,500 barrels per day, the start of production follows a final
Moustapha Bechir, the Director General of Hydrocarbons at the Ministry of Petroleum, Energy and Mines in Mauritania, recently participated in the Mauritanian ministerial panel at MSGBC Oil, Gas, & Power 2023. During the event, he shared insights into Mauritania’s energy hub in Nouakchott, plans for local content development, and infrastructure revamp strategies. Mauritania possesses several strategic assets that contribute to its energy sector. These include its favorable geographical location in proximity to Europe, a vast
Angolan President, H.E. João Lourenço, signed a series of new bilateral cooperation agreements with Portugal’s Prime Minister, António Costa, during a two-day state visit by the Premier to Angola’s capital city of Luanda. H.E. President Lourenço received Prime Minister Costa on 5 June at the Presidential Palace in Luanda. During the two-day visit, talks between delegations of the two countries resulted in the signing of 13 agreements, including a Strategic Cooperation Program 2023-2027 and the
The South Sudan Oil & Power (SSOP) 2023 conference and exhibition, which will take place from 14-16 June in South Sudan’s capital city of Juba, is set to feature a series of keynote presentations and ministerial addresses by a distinguished lineup of international and national ministers from Africa’s energy sector. The opening ceremony, hosted by the Government of South Sudan, will include International Ministerial Addresses. Among the international ministers participating in the event are Hon.
Witness the transformative force of Africa’s burgeoning energy sector at African Energy Week 2023 (AEW), a highly anticipated event hosted by the African Energy Chamber (AEC). From October 16-20, 2023, this prestigious gathering will redefine Africa’s energy landscape, attracting influential experts, industry leaders, government officials, and stakeholders from Africa and around the world. Under the theme, ‘The African Energy Renaissance: Prioritizing Energy Poverty, People, the Planet, Industrialization, and Free Markets,’ AEW aims to chart a
The Invest in African Energy Forum in Paris, organized by the African Energy Chamber in partnership with Rystad Energy and Afreximbank, centered on strengthening Africa-Europe relations while advancing investment in untapped energy opportunities across the continent. During the forum, the Republic of the Congo’s Hydrocarbons Minister, H.E. Bruno Jean-Richard Itoua, provided insight into the country’s gas and marginal field opportunities, laying the foundation for discussions during the African Energy Week conference, scheduled for 16-20 October in Cape Town. Representing one
