Nigeria Seeks to Strengthen Its Position in Global Oil and Gas Supply
Libya’s Arabian Gulf Oil Company Launches Production at Z-13 Well in Al-Bayda Field
De Beers Board Member Matome Tsholetsa Malema Passes Away
Sodiam Raises $25.8 Million in 16th Rough Diamond Auction
Shell Reaffirms Commitment to Reviving Angola’s Oil Production
Sonangol Oil Tanker Damaged by Explosion Near Iraqi Port
Angola and Namibia Advance Energy Cooperation with Focus on Electricity Interconnection
Oil Hits Multi-Year High as Iran Conflict Escalates, Boosting Vegoils and Aluminium
Ghana Prepares Alternative Gold Export Routes Amid Dubai Flight Disruptions
Global Oil Prices Surge Amid Rising Tensions in the Middle East
SE- and NYSE-listed Gold Fields has appointed Mike Fraser as CEO and executive director of the company, effective from January 1, 2024. Fraser is currently the CEO of Aim-listed Chaarat Gold Holdings. Prior to that, he was the President and COO of South32’s key metal businesses. He will be taking over from Martin Preece, who assumed the position of interim CEO on January 1 of this year, following the resignation of the former CEO, Chris
After a two-year hiatus, Russia resumed oil exports to Brazil last month, marking a significant moment in the trade relations between the two countries. The return of Russian oil to Brazil is seen as a positive sign for the trade relations between the two nations. According to data from the Brazilian Customs, imports of Russian oil totaled 84,400 tons, valued at 40 million dollars. This is the largest delivery since June 2010 when Russia supplied
The United Arab Emirates reaffirmed its commitment to “voluntary collective and individual adjustments” in oil production, as reported by the Saudi state news agency on Saturday 7th of October, 2023. It emphasized that the Oil Ministers of the six countries gathered on the sidelines of the MENA UN Climate Week event in Riyadh. Furthermore, the ministers reiterated the willingness of the Declaration of Cooperation (DoC) countries to take “additional measures at any time in their
The Gulf Cooperation Council, which includes the major oil-rich economic powers of the Middle East, called yesterday to “avoid excluding” crude oil from the energy transition and to maintain investments in the sector in order to uphold a “balanced” policy. “We emphasize the importance of the international community avoiding the exclusion of the primary energy sources and not neglecting investments in these sectors,” said the Gulf Cooperation Council (GCC) in a statement during the Middle
Gold miner Gold Fields will spend up to A$15 million to earn a 75% interest in the Edinburgh Park gold project, in north Queensland, owned by ASX-listed Great Southern Mining. Under the earn-in agreement, Gold Fields will sole-fund up to A$15 million in exploration expenditure over a six-year period, to earn the majority stake in the project, which incorporates nine granted exploration licences and two exploration licence applications covering 1,750 km2. The licences surround the
The Antonini Group, an Italian engineering and construction company, has secured a $217 million contract for the construction of the Sabratha platform compression project in Libya. The project, commissioned by the Mellitah Oil and Gas Company a joint venture between Libya’s state-owned National Oil Corporation and the Italian firm Eniv will involve the creation of a compression unit to be installed on a gas platform situated 42 m above sea level and 120 m from
Oil prices surge 4% amidst escalating Israel-Hamas conflict The Israel-Hamas conflict drives oil prices up 4%, reaching $88.41 per barrel. Saudi Arabia calls for de-escalation amidst rising tensions. During the early hours of Saturday 7th October 2023, coinciding with a significant Jewish holiday, the Palestinian militant group Hamas initiated a multifaceted incursion into Israel, utilizing land, sea, and air, including paragliders. This attack occurred shortly after thousands of rockets had been launched from Gaza into
Joseph Anis, President and CEO of GE Vernova’s Gas Power business for Europe, the Middle East, and Africa, sheds light on the emerging economic and environmental prospects associated with flare gas and related technologies in the MENA region. Globally, substantial volumes of natural gas are annually flared or released into the atmosphere at oil production sites, contributing to significant carbon dioxide (CO2) and methane emissions equivalent to the output of 83 million cars, as estimated
The violence in Israel will likely prompt a move into safe-haven assets as investors closely watch events in the Middle East to gauge geopolitical risk to markets. Gunmen from the Palestinian group Hamas entered Israel in an unprecedented attack on Saturday 7th October. Western countries, led by the United States, denounced the attack and pledged support for Israel. Rising geopolitical risk could see buying in assets like gold and the dollar, and potentially boost demand for US
The Brent oil price for December delivery rose 0.64% to $84.57, according to the last update at 12:39 on October 8, 2023, in the London futures market. The North Sea crude, a benchmark in Europe and Angola, ended the session on the International Exchange Futures trading at 54 cents above the $84.03 it closed at last Thursday. Brent rebounded on Friday after positive economic data from the United States was released, which improved expectations for
