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TotalEnergies will begin executing $27 billion Iraqi projects within a month

12, July, 202312, July, 2023

French energy giant TotalEnergies will start work on a $27-billion oil and gas contract with Iraq within one month citing a top official. Iraq, which controls the world’s fifth largest proven oil reserves, signed the massive deal with the French firm to develop its oil, gas and renewable energy sector on Monday. It is the largest foreign investment in the history of the war-torn Arab nation. Under the agreement, the four projects specified by the contract will have to

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Energy Gas News Oil

CV&A Joins Angola Oil and Gas 2023 as Strategic Partner

12, July, 202312, July, 2023

Energy Capital and Power (ECP), the leading investment platform for the African energy sector, is proud to announce its strategic partnership with CV&A Consultores em Comunicação (CV&A) for the highly anticipated Angola Oil and Gas (AOG) conference and exhibition – taking place in Luanda this year from September 13-14. Under the theme, ‘Angola Oil & Gas: Energy Security, Decarbonization and Sustainable Development’, AOG 2023, organized by ECP, brings together global industry leaders, government representatives, investors and key

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Energy International News

Cabinet commends Saudi Arabia and France’s cooperation in energy field

12, July, 202312, July, 2023

The Cabinet commended the joint statement issued by the Kingdom and France on cooperation in the field of energy and the keenness of the two countries to implement the United Nations Framework Convention on Climate Change and the Paris Agreement. JEDDAH — The Cabinet, chaired by Custodian of the Two Holy Mosques, King Salman on Tuesday at Al-Salam Palace in Jeddah, was briefed on the outcome of the official visit of Crown Prince and Prime Minister

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Energy Gas International News

Algeria, TotalEnergies sign new contracts to boost gas output

12, July, 202312, July, 2023

The companies will increase output from two Sahara desert fields in southeastern Algeria, for export to France and elsewhere in Europe Algeria’s state oil company Sonatrach said Sunday it had signed contracts to boost gas production under an existing agreement worth about $740 million with French giant TotalEnergies. The companies will increase output from two Sahara desert fields in southeastern Algeria, for export to France and elsewhere in Europe, the company said in a statement.

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Economy Gold International News

Gold near 3-week high on dollar dip, eyes on US inflation data

12, July, 202312, July, 2023

Gold prices reached a nearly three-week high on Tuesday 11th of July 2023, supported by a weaker dollar, as investors awaited U.S. inflation data that could impact the Federal Reserve’s decision on interest rate hikes. At 1223 GMT, spot gold was up 0.4% at $1,932.69 per ounce, marking its third consecutive session of gains. U.S. gold futures also rose 0.4% to $1,938.20. UBS analyst Giovanni Staunovo commented on the reaction to the U.S. inflation data,

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Economy International News Oil

Uganda Invites Investors to Finance Oil Refinery

11, July, 202312, July, 2023

The government of Uganda, through the Ministry of Energy and Mineral Development, has announced that it is seeking investment partners to advance the development of a 60,000 barrel-per-day oil refinery. In a press statement, the ministry stated that it has reached several milestones regarding the implementation of the refinery and now seeks financing to progress further. Specifically, the Ministry is turning to public sector capital providers to accelerate the implementation of the downstream project. “The key achievements

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Economy Local News Oil

Brent crude for September delivery down 1.07% to $77.69

11, July, 202312, July, 2023

The price of a barrel of Brent oil, which serves as a reference for Angolan exports, for delivery in September ended, Monday, on the London futures market down 1.07%, to US$77.69. File Despite the rise registered in the price, in coincidence with the closure of the European stock exchanges, which would have allowed it to close higher, Brent could not withstand the gains and returned to last week’s levels, with the exception of Friday the

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Energy

China produces more than 15 million tons of crude oil

11, July, 202312, July, 2023

China produces more than 15 million tons of crude oil Daqing, China’s largest onshore oil field, produced 15.09 million tonnes of crude oil in the first half of 2023, said the entity, a subsidiary of China National Petroleum Corporation. Since the beginning of 2023, the Daqing Oilfield has been focusing on the target tasks of stabilizing oil production. In the same period, the oil field produced around 2.97 billion cubic meters of natural gas, an

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Energy Gas Local

Luanda Refinery cuts greenhouse gas emissions in production

11, July, 202312, July, 2023

The Luanda Refinery carried out a successful test of the use of hydrogen (a fuel that does not generate greenhouse gases) in the production of energy for production, in what Sonangol, which controls the petrochemical unit, considers to be the scope a milestone in the decarbonization process. Luanda refinery uses hydrogen energy in production this is defined as a process of reducing carbon emissions into the atmosphere, especially carbon dioxide, decarbonization is adopted to achieve

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Economy Local News Oil

Oil: Prices ease with data from China and the US

11, July, 202311, July, 2023

Brent crude futures were down $0.40, or 0.5%, to $78.07 a barrel at 1005 GMT and West Texas Intermediate crude was also down $0.40, or 0.5%, to 73. .46 dollars per barrel. “Oil investors should be cautious ahead of the US CPI and China economic data series later this week,” CMC Markets analyst Tina Teng said of inflation data due to be released next Wednesday. Friday’s data pointed to the lowest job gains in two

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