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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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Economy Petroleum

UAE announces major drop in June petrol prices

31, May, 202331, May, 2023

The UAE fuel price committee on May 31 announced major reduction in petrol and diesel prices for the month of June 2023. The new rates will apply from June 1.

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Gas Oil

Cairn Oil & Gas portfolio surpasses one billion barrels

31, May, 202331, May, 2023

Cairn Oil & Gas, a subsidiary of Vedanta Resources owned by billionaire Anil Agarwal, has announced that its reserves and resources portfolio in India has surpassed 1 billion barrels of oil equivalent (boe), according to media reports. This milestone makes Cairn Oil & Gas the largest private oil and gas company in India. The company has identified 20 new development projects to bring a significant portion of its resources into production within the country. The

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Economy Oil Petroleum

Nigeria faces fuel shortages

31, May, 202331, May, 2023

In 2022, the African continent experienced the worst refined fuel supply crisis in the past 40 years. Although Nigeria is a major oil producer, it lacks the capacity to refine this raw material, so the country is forced to import it. One day after Nigerian President Bola Tinubu announced the end of fuel subsidies in his inauguration speech, most fuel stations closed. According to international press reports, on Tuesday, there were long queues of drivers

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Economy Oil

Barrel of oil continues above OGE predictions

31, May, 202331, May, 2023

The Brent crude oil barrel, which serves as a reference for Angolan exports, was being traded at $76.56 until noon on Monday. This value is still above the $75 reference price set in the 2023 General State Budget (OGE), contrary to what we reported in our Sunday edition, where we mistakenly presented a price of $85. The daily variation ranged between $76.17 and $77.83, according to investing.com. It is already known, according to OPEC’s positions,

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