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Gas Local News Oil Petroleum

Angola’s Fuel Supply Areas Fully Stocked One Day Ahead of New Schedule

2, June, 20235, June, 2023

Supply zones filled one day prior the new price list The last hours of yesterday June 1st were marked by enormous queues of motorists looking to refuel their vehicles before the new gasoline pricing came into effect. A long line of motorists eager to refuel their vehicles for the last time at the price of 160 kwanzas was observed in Ilha de Luanda, considering that starting today, gasoline will cost 300 kwanzas per liter. The

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Economy Gold International

Gold prices drop in Dubai on more rate hikes expectations

1, June, 20231, June, 2023

Gold prices fell in UAE and globally on Thursday morning as investors expect more interest rate hikes by the US Federal Reserve. The Dubai Jewellery Group data showed 24K trading at Dh238.0 per gram at the opening of the markets on Thursday, down from Dh238.75 per gram at the close of the markets on Wednesday. The other variants of the precious also opened lower as 22K was trading at Dh220.25, 21K at Dh213.25 and 18K

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Gas International News Oil

India, China’s crude oil imports from Russia in May breach all-time highs, shows shiptracking data

1, June, 20231, June, 2023

India and China’s purchases of Russian crude oil in May are seen to have breached all-time highs. As buyers including these two big economies gorged on discounted supplies from Russia, it led to a fall in demand for oil from the Middle East and Africa, news agency Reuters reported citing ship tracking data. China, world’s No. 1 crude importer, India (world No. 3) are top buyers of Russian oil. In May In May, these two

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Energy International News

Uganda Awards $3.6 M Contract to Elsewedy Electric Indonesia

1, June, 20231, June, 2023

The Government of Uganda and economic and social development agency, the Japan International Cooperation Agency (JICA), have awarded a $3.6 million contract to multinational engineering, procurement, and development (EPC) company, Elsewedy Electric’s Indonesia subsidiary to strengthen the power transmission network in the Kampala metropolitan area, southern Uganda. Under the contract Elsewedy Electric Indonesia will supply the Kampala metropolitan area with a 20 MVA 132/133-11 kV Mobile Substation, the first such substation in Africa. The mobile unit

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Energy Gas Renewable Energy

Tanzania’s $42 Billion Liquefied Natural Gas (LNG) project is nearing approval

1, June, 20231, June, 2023

Tanzania’s $42 billion liquefied natural gas (LNG) project is nearing approval, as negotiations with investors have been successfully concluded, according to a senior government minister. The project aims to tap into Tanzania’s vast offshore gas resources. The finalized agreements are currently awaiting review and approval, which is expected to take place next month. Energy Minister January Makamba stated that the agreements will be presented to the government’s cabinet for approval before being officially signed. The

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International Mining News

China & DRC Emphasize Regular Evaluation of Mining Cooperation

1, June, 20235, June, 2023

The People’s Republic of China and the Democratic Republic of Congo agree to regularly assess their mining cooperation with a view to its consolidation in the mutual and long-term interest of the two countries, and to settle any disputes arising in this cooperation in mutual trust and with pragmatism and fairness, in particular through friendly consultations. This is one of the thirteen (13) key points included in the final declaration published on Friday, May 26,

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Energy Gas International Renewable Energy

UAE’s Dana Gas Plans $100 Million Investment to Drill New Wells in Egypt”

1, June, 20231, June, 2023

Dana Gas, a prominent UAE-based company, is preparing to commence drilling operations on 11 new wells in Egypt this year with an investment of approximately $100 million, according to a senior company official. Mohammed Mubaideen, the head of investor relations at Dana Gas, revealed that the investment is expected to contribute around 80 billion cubic feet of reserves and production. His statements were published in a report by Asharq Business. Currently, Dana Gas holds four

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Energy Gas International Oil

Kuwait to award 22 oil and gas projects this year

1, June, 20231, June, 2023

State-owned Kuwait Oil Co (KOC) has announced plans to award 22 projects to local and foreign firms in the next few months, Zawya Projects reported, citing the Arabic language daily Alanba. KOC, which manages the OPEC member’s upstream oil industry, will gradually award those contracts after they are approved by the Central Agency for Public Tenders. The projects include installation of pipelines at KOC’s facilities in West Kuwait, providing maintenance services at KOC’s export terminals, building pipelines at Jurassic

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Energy Gas Oil Petroleum

TotalEnergies Renews Production License for Nigeria’s Deep Offshore Block

1, June, 20231, June, 2023

Global oil and gas major TotalEnergies has renewed its production license for the OML 130 block offshore Nigeria with an additional 20 years. Commenting on the development, Henri-Max Ndong-Nzue, Senior Vice President Africa, Exploration and Production at TotalEnergies, said the renewal of the license will enable the firm to improve its contribution towards the development of the West African country’s hydrocarbons resources for energy security, economic growth and energy poverty alleviation. “This 20-year extension will enable us

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Energy Gas

Natural gas prices could dip below zero in Europe

31, May, 202331, May, 2023

Natural gas prices in Europe are likely to plummet further on lackluster demand from power generation and industry.” This downward trend has led traders and industry officials to consider the possibility of day-ahead prices dipping below zero in some European markets during the summer, according to a report by Oilprice. According to the report, several factors have contributed to this situation, including abundant inventories after a mild winter, consistent imports of liquefied natural gas (LNG),

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