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Economy Energy Gas

International Energy Agency’s (IEA) Deputy Executive Director Mary Burce Warlick to Drive Investment and Energy Transition Discussions at African Energy Week (AEW) 2022

4, October, 20224, October, 2022

The African Energy Chamber is proud to announce that Mary Burce Warlick, Deputy Executive Director of the International Energy Agency will attend and participate at African Energy Week 2022, shaping discussions around energy policies, investment trends, the energy transition and gender inclusivity across the sector Mary Burce Warlick, Deputy Executive Director, of the International Energy Agency (IEA), will be coming to Cape Town to attend and participate at the African Energy Week (AEW) (https://AECWeek.com/) conference

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Energy Economy Gas International

Only One EU Member Is Still Receiving Russian Natural Gas

4, October, 20224, October, 2022

With three of the four pipelines delivering Russian natural gas to Europe out of commission, Hungary is now the only EU member state still receiving Russian gas, Forbes Hungary writes. There are four pipelines that could supply Russian natural gas to Europe: Due to the huge income Russia has made from soaring gas prices, coupled with a massive reduction in other trade with Europe, Russia has no interest in completely shutting down these pipelines. Although Hungary still receives gas, its price

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Economy Energy Oil

Why OPEC+ Is Considering A Production Cut

4, October, 20224, October, 2022

Last week, rumors began circulating that OPEC+ was considering a production cut amid a substantial decline in oil prices over the last three months. Initially, reports said that the idea about a production cut had come from Russia, and it was for a cut of a million barrels daily in output. Later, the usual unnamed sources from the cartel came, who said OPEC+ was prepared to make an even deeper cut. Some have dismissed the talk about a deep

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Economy International Oil

Oil Traders Are Cashing In On Volatile Markets

4, October, 20224, October, 2022

The world’s commodity and oil traders are playing a crucial role in securing supplies amid a global energy crisis and disrupted trade flows following Russia’s invasion of Ukraine. Last week, the world’s biggest oil and gas traders met in Singapore for one of their industry’s top conferences. The war in Ukraine has been a double-edged sword for these traders who historically have been leading shippers of Russian oil. On one hand, they have benefited from being able to

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Economy Energy Gas Oil

Oil and Gas Training Workshop to be Led by Energy Lawyer Jay Park on October 21 during African Energy Week 22

4, October, 20224, October, 2022

During the continent’s biggest energy event for the oil and gas sector, energy lawyer Jay Park will be leading an oil and gas training workshop (“How a Petroleum Regime can lead to Prosperity or Plunder”) aimed at scaling up capacity building and transferring critical skills This year’s edition of African Energy Week (AEW) (www.AECWeek.com) – taking place from October 18-21 in Cape Town – takes place under the theme, ‘Exploring and Investing in Africa’s Energy Future

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Economy

Country grew 3.6% in the second quarter

4, October, 20224, October, 2022

Angola’s Gross Domestic Product (GDP) grew by 3.6% in the second quarter compared to the same period in 2021, and accelerated by 0.5% compared to the growth recorded in the first quarter of this year. According to data from the National Statistics Institute (INE), the country recorded an accumulated growth of 3.2% in the first half of this year. Compared to the figures for the same period last year, the diamond sector represents the industry

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Economy Energy Gas Oil Petroleum Renewable Energy

Brent oil for December delivery rises to $88.82

4, October, 20224, October, 2022

The price of a barrel of Brent oil, which serves as a reference for Angolan exports, for delivery in December ended today on the London futures market up 0.98%, to US$88.82. Brent’s price rose amid speculation among investors about plans by the group designated OPEC+, which brings together members of the Organization of Petroleum Exporting Countries (OPEC) and allies such as the Russian Federation, to reduce by one million barrels a day to boost the

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Economy Energy Gas Oil

Brent opens week with a barrel to appreciate about 3.7 dollars

4, October, 20224, October, 2022

The price of a barrel of Brent oil was trading, in this Monday’s session, on the London Futures Market, at US$ 88.8, up by more than 4.4 percent, with the previous value of 85, 1 USD positioning the observed rise above 3.7 USD from the opening price. According to data from Investing.com, since 28 September, prices for a barrel of Brent, a reference for Angola’s exports, have not reached this level. On the given date,

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Energy Economy Oil

Oil Prices Rally Into October As OPEC+ Plans A Production Cut

3, October, 20223, October, 2022

After several weeks of declines, oil began October trade with a gain driven by plans by OPEC+ to reduce production by a substantial amount. At the end of last month, the media reported that Russia had proposed a production cut of 1 million bpd. Later reports said discussions are underway for an even bigger production cut. “Anything less than 500,000 barrels a day would be shrugged off by the market. Therefore, we see a significant chance of

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Economy Energy Gas

European Gas Demand Set For Record-Breaking Decline In 2022

3, October, 20223, October, 2022

Soaring natural gas prices, demand destruction in the industrial sector, and energy-saving measures are set to reduce gas consumption in Europe’s developed economies by 10% this year, the biggest drop in European demand in history, the International Energy Agency (IEA) said in its quarterly Gas Market Report on Monday. The forecast of a 10% decline in natural gas demand in OECD Europe reflects the expectation of higher gas prices and the EU’s ambition to reduce gas consumption

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