Angolan Mining Oil & Gas

Crude oil prices continued to retreat from the 3-month peak seen last week on a soft economic outlook for China and easing political tensions in Libya, potentially lifting production capacity. The WTI front futures contract touched US$ 77.33 per barrel last Thursday before tumbling into the weekend and continuing lower to start this week, trading below US$ 74 per barrel. The Brent futures contract saw similar price action, nudging US$ 81.75 before visiting US$ 78.25

Read More Here

Oil prices fell by more than a dollar per barrel on Friday 14th of July due to profit-taking and a stronger dollar. Despite the drop, crude benchmarks still recorded their third-straight weekly gain. Brent crude futures settled at $79.87 per barrel, down $1.49, or 1.8%, while U.S. West Texas Intermediate crude futures fell $1.47, or 1.9%, to settle at $75.42 a barrel. The decrease in oil prices was attributed to profit-taking by oil traders who

Read More Here

Petrofac, a leading global oilfield services provider, has recently been awarded a significant facilities management contract by CNR International (CNRI) for offshore operations in the Ivory Coast, West Africa. This multimillion-dollar contract spans an initial three-year period and entails Petrofac’s Asset Solutions business delivering integrated services for the Espoir Ivoirien Floating Production Storage and Offloading (FPSO) vessel. Under this agreement, approximately 110 personnel currently supporting the FPSO, both onshore and on the vessel, will transition

Read More Here

The shift towards electric mobility is likely to cause a peak in oil demand before 2025, and with Venezuela and Iran eventually returning to the market, there could be surplus supplies and lower prices, according to private bank analysis. In its latest fact sheet on crude oil, Swiss private bank Julius Baer said it was sticking with its neutral view but added that the market could become livelier with prices swinging more wildly going forward.

Read More Here

Uganda is seeking new investors for its $4.5 billion refinery project after three failed attempts with Russian, South Korean and now US/Italian private companies to raise a critical portion of the required financing. Uganda’s Ministry of Energy says it will work with public sector capital – a veiled admission that only bilateral deals were left to explore to get the project going. On July 3rd 2023, after the Project Framework Agreement (PFA) signed with the Albertine Graben

Read More Here