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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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Economy Energy International News

Kuwait’s Oil Minister Announces $300 Billion Investment in Energy Sector

10, July, 202312, July, 2023

Kuwait’s oil minister, Saad Al Barrak, has announced that Kuwait plans to invest more than $300 billion in the energy sector by 2040. Al Barrak made this statement during the 8th OPEC International Seminar held in Vienna. The country aims to increase its oil production capacity to 3.2 million barrels per day by the end of 2024. According to Al Barrak, Kuwait plays a positive role in supporting OPEC and works towards fostering consensus and

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Economy International Mining News

Africa’s 5 Largest Copper and Cobalt Mines by Potential Production

10, July, 202310, July, 2023

Used for the production of lithium-ore batteries, copper and cobalt are becoming increasingly sought after as nations move to transition to a renewable energy future. A 2023 Battery Metals anticipates global copper production to increase by an average rate of 3.2% a year between 2022 and 2031, with output rising from 2.1 million tons to 28.2 million tons per year (t/y) during the same period. In this scenario, the report states that Africa – rich in

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Economy International News Oil

South Sudan Oil & Power 2024 Summit Launches in Vienna: Country Opens Doors to Investors

10, July, 202311, July, 2023

The South Sudan Oil & Power (SSOP) 2024 show was officially launched by South Sudan’s Ministry of Petroleum and organizer Energy Capital & Power. As a member of OPEC+, South Sudan is positioning itself as a player in the international petroleum sector and is becoming an attractive destination for onshore oil and gas investment. SSOP 2024 is scheduled to take place in Juba from June 25-28, 2024. During the OPEC 8th International Seminar in Vienna,

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Gas International News Oil

Equatorial Guinea’s Minister of Mines and Hydrocarbons to Deliver Keynote Speech at AOG 2023

10, July, 202311, July, 2023

Equatorial Guinea’s Minister of Mines and Hydrocarbons, H.E. Antonio Oburu Ondo, will be delivering a keynote speech at the Angola Oil & Gas (AOG) conference in Luanda from September 13-14, 2023. H.E. Minister Ondo, who is also the current President of the Organization of Petroleum Exporting Countries (OPEC), brings a wealth of experience to the conference, having previously served as the Managing Director of Equatorial Guinea’s National Oil Company (NOC) GEPetrol. His participation at the

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Local News Oil

Brent barrel at $78.31 dollars

10, July, 202311, July, 2023

The price of a Brent barrel for delivery in September closed at $78.31 dollars yesterday in London, after closing at $76.52 dollars the previous day. Oil also closed higher, with WTI advancing over 2.0 percent in the return of electronic trading during the U.S. holiday on Tuesday, the 4th. Investors followed news about the seminar of the Organization of the Petroleum Exporting Countries and allies (OPEC+), in which the cartel reaffirmed its commitment to support

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International News Renewable Energy

EAIF Invests €11.5M in Senegalese Solar Project

7, July, 20237, July, 2023

The Emerging Africa Infrastructure Fund (EAIF) – a development finance organization established under the Private Infrastructure Development Group – has invested €11.5 million via a senior secured loan for the construction of an integrated solar and battery storage project in Senegal. Dubbed the Walo facility, the 16 MW solar facility will comprise a battery energy storage system with a capacity of between 10 to 20 MW. The project will be constructed and thereafter operated by

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Diamonds International News

DE BEERS SETS UP WORLD-CLASS JEWELRY FACILITY IN BOTSWANA

7, July, 20237, July, 2023

As part of the recently agreed deal between Botswana Government and De Beers Group, the diamond mining giant will continue to support Botswana’s diamond beneficiation efforts. The company will partner with one of its sightholders to set up a state of the art jewellery manufacturing facility in Botswana. De Beers Executive Vice President – Diamond Trading Paul Rowley said on Tuesday July 4th that the facility will initially create 200-250 jobs and it will deal

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