The bullish news of the OPEC+ output cut is wearing off, and the market is once again focusing on the possibility of a global recession. Reader Update: The most recent Intelligent Investor report for GEA subscribers details the strengths and weaknesses of two promising oil stocks. The 10-page report is exactly the kind of thing energy investors should be reading ahead of a potential oil price rally. As a member of Global Energy Alert, you will get this report and
The Galp/Shell consortium and the National Petroleum Agency announced that they had drilled a new oil well in São Tomé, which confirms the existence of an “active oil system” in the country. In a statement, the two entities indicate that the initial results of the survey indicate that there is no evidence that the prospect, designated Jaca 1, has a sufficiently large recoverable potential to be commercial. The National Petroleum Agency indicates that the “focus
After OPEC+ announced production cuts of about a million barrels daily last week, oil prices jumped, only to ease earlier today as traders took profits. The nominal size of the OPEC+ production cut was set at 2 million barrels daily but the actual cuts were agreed at between 1 million bpd and 1.1 million bpd, according to Saudi energy minister Abdulaziz bin Salman. The decision signaled even tighter physical oil markets ahead, pushing oil prices higher, although
PetroAngola has started the public voting process to determine the winners of the 2022 edition of the Angola Oil & Gas Awards. Around 100 companies operating in the Angolan oil and gas industry are eligible for this edition, from operating companies, companies providing goods, services and professionals in the sector. The award will be based on the companies’ operational and commercial performance, quality and service delivery capacity, and the contributions made to this important sector
Sonangol, the National Petroleum Corporation of Namibia (NAMCOR) and the Namibiam Ports Authority (NAMPORT) signed, this Sunday, a memorandum of understanding for the development of an integrated logistics base to support the oil and gas industry in Namibia, similar to the Sonils base. According to a press release from the Angolan oil company sent today to Jornal de Angola, the “structuring project of strategic importance” was signed by the chairman of the Board of Directors
Dr. Mustapha Abdul-Hamid, Chief Executive of the National Petroleum Authority of Ghana, will be discussing trends across the country’s downstream sector at AEW 2022 The African Energy Chamber (AEC), the voice of the African energy sector, is proud to announce the attendance and participation of Dr. Mustapha Abdul-Hamid, Chief Executive at Ghana’s National Petroleum Authority (NPA), at the African Energy Week (AEW) (https://AECWeek.com/) conference and exhibition, which will take place from 18 – 21 October
AEW 2022 will emphasize the role state energy companies play in boosting investment, exploration and production across Africa’s energy sector. The African Energy Chamber (AEC) is proud to announce the return of the National Oil Company (NOC) Summit at Africa’s premier event for the oil and gas sector, African Energy Week (AEW) (https://AECWeek.com/), which will take place from 18 – 21 October 2022, in Cape Town. Following a successful edition of the NOC Summit at
Energy Capital & Power is proud to announce that H.E. José Barroso, Secretary of State for Oil and Gas in Angola, will be coming to Luanda for the third edition of Angola Oil & Gas 2022 Energy Capital & Power (ECP) (https://EnergyCapitalPower.com/) is proud to announce that H.E. José Barroso, Secretary of State for Oil and Gas in Angola, will attend and participate at the third edition of Angola Oil & Gas (https://bit.ly/3MhOEnY) – taking
The reduction in oil production announced this Wednesday by the OPEC+ group corresponds to the biggest cut in supply since May 2020. According to Reuters experts, the decision is likely to anger the administration of US President Joe Biden and prompt the US response. The note sent to Citi markets, which Reuters refers to, explains that the OPEC+ alliance, led by Saudi Arabia and Russia, decided, in Vienna, to reduce oil production by two million
New Eskom board chairman Mpho Makwana shared his views on the just transition, securing South Africa’s energy needs, and getting Eskom fired up again New Eskom board chairman Mpho Makwana gave an interview on the side-lines of the Green Energy Africa Summit (GEAS) (https://GreenEnergyAfricaSummit.com/) in Cape Town. Speaking only days after the new Eskom board was appointed, he shared his views on the just transition, securing South Africa’s energy needs, and getting Eskom fired up again. We
