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Investment Forum Ignites Local Content Talks Ahead of AEW 2023

2, June, 20235, June, 2023

Since early discoveries of oil and gas in Africa, European investors and project developers have been instrumental in driving project developments, providing capital, technology and expertise and working closely with governments to monetize resources. Now, shifts in dynamics are seeing global stakeholders playing a much larger role in Africa, transitioning from energy players to partners as local content becomes a top priority continent-wide. At the Invest in African Energy Forum in Paris this week – representing a

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Economy Energy Gas International Oil

APPO Secretary General to Deliver Keynote Address at MSGBC Oil, Gas & Power 2023

2, June, 20235, June, 2023

Energy Capital & Power (ECP) is proud to announce the participation of H.E. Dr. Omar Farouk Ibrahim, Secretary General of the African Petroleum Producers Organization (APPO), as a speaker at the upcoming MSGBC Oil, Gas and Power 2023 Conference and Exhibition – West Africa’s leading event for the energy industry. Dr. Omar Farouk Ibrahim is a Nigerian scholar and public servant with over two decades of experience in government. He is a recipient of numerous academic and

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Economy Energy Gas International

DRC and Technip Energies Sign Cooperation Agreement at Energy Forum

2, June, 20237, June, 2023

Congo’s Ministry of Hydrocarbons signed a cooperation agreement with French energy services provider Technip Energies during the Invest in African Energy Forum in Paris. Signed by Minister H.E. Bruno Jean-Richard Itoua and Technip Energies COO Marco Villa, the deal will see the parties expand cooperation on capacity building in the fields of onshore and offshore energy developments at a time when the Central African country is looking at expanding its energy market. As per the

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Economy Energy Gas International Oil

Namibian Minister clarifies: Govt has no plans to Raise Oil & Gas Stakes

2, June, 20236, June, 2023

Namibia’s Minister of Mines and Energy Hon. Tom Alweendo debunked statements that the government is looking at raising the state’s interests in petroleum production developments in the country. Speaking during the Invest in African Energy Forum in Paris this week – taking place ahead of African Energy Week 2023, scheduled for 16-20 October – the Minister clarified that Namibia will maintain its existing stakes in E&P assets, as defined by the contracts established and signed with global

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Economy Gas Local Petroleum

National refineries will become competitive

2, June, 20235, June, 2023

The Executive aims to make the country’s refineries internationally competitive with real prices in a market economy and increase fuel production, stated Minister of Mineral Resources, Petroleum, and Gas, Diamantino Azevedo, in a press conference yesterday. Speaking at the presentation of the Fuel Subsidies Reform Program, he said that the government’s strategy with the existing refineries in Angola – which currently only cover about 20% of the country’s petroleum derivatives needs – is to increase

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Economy Gas Local Petroleum

Gasoline price will be 300 kwanzas per liter starting today

2, June, 20235, June, 2023

This change is a result of the gradual removal of fuel subsidies announced by the Government in Luanda on Thursday 1stnJune. This measure does not apply to licensed taxi drivers, motorcycle taxi drivers, and licensed fishing vessels, who will continue to pay the previous price of 160 kwanzas per liter using a fuel card with a weekly or monthly balance. According to the Secretary of State for Land Transportation, Jorge Bengue, the fuel cards will

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Economy Gas Oil

Discover the reasons behind the restructuring of fuel subsidies in Angola

2, June, 20235, June, 2023

The decision of the Executive to partially reduce subsidies for gasoline is justified by the need to bridge the gap between the rich and the poor, such as the populations in rural, urban, or peri-urban areas that have reduced or no consumption of fuel. BACKGROUND CHARACTERIZATION OF FUEL SUBSIDIES

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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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