With a strong slate of exploration and production activities and competitive licensing rounds in 2024, Africa is well-positioned to realize its potential as the global energy frontier. These bid rounds are poised to cement Africa as a global hub for hydrocarbon development.
Baker Hughes has announced a significant order from Petrobras for workover and plug and abandonment (P&A) services in pre-salt and post-salt fields offshore Brazil.
The Ministry of Natural Resources has raised an alarm over the increase in cases of locals ‘fronting’ for foreign companies, which undermines the Local Content Act, and in some cases, evade taxes that ought to be paid to the Guyana Revenue Authority.
Tubular solutions company Vallourec has secured a contract with Petróleo Brasileiro SA (Petrobras) for the supply of 1,800 metric tons of premium carbon steel tubes with Glass Reinforced Epoxy liners (GRE technology), including Corrosion Resistant Alloy (CRA) accessories.
THE upcoming African Energy Week (AEW) an invest in African energy conference, is set to feature a Just Energy Transition (JET) Summit, bringing together African energy policymakers, industry leaders, community representatives and global investors to develop actionable solutions for building a sustainable energy future.
A new report by non-governmental organisation Earth Insight warns of the dire consequences of continued liquefied natural gas (LNG) development worldwide. The report highlights the endangerment of critically important marine ecosystems and species along the Indian Ocean coastline, along with fueling violent conflict in East Africa.
According to documents presented to the UK House of Commons Environmental Audit Committee in early May, the discovery was made by Russian research vessels in the Weddell Sea, part of the Antarctic territory claimed by the UK. The reserves discovered are estimated to contain some 511 billion barrels of oil, around 10 times the production of the North Sea over the last 50 years.
Argentine oil driller Petrolera Aconcagua Energia SA is making arrangements to join the country’s stock market to raise funds for expansion as President Javier Milei’s reforms start to attract capital back to Argentine markets, the Buenos Aires Times has reported. Last month, Aconcagua revealed that it’s bidding for aging oil fields being sold by state-run giant YPF SA as the company looks to expand its current production clip of 13,500 boe/d. It isn’t clear yet if the Petrolera exploration and production unit would list alone, or if the entire Aconcagua Energía group will be involved in the upcoming IPO.
At the 27th Saint Petersburg International Economic Forum, Rosneft CEO Igor Sechin delivered a compelling speech on the energy panel, focusing on the ongoing energy transition. Sechin highlighted the Organisation of Petroleum Exporting Countries’ (OPEC) recent forecast which suggests that oil demand is set to increase by nearly 20% to reach 116 million barrels per day by 2045, with oil maintaining a 30% share of the global energy mix.
AIM-listed Mosman Oil and Gas, helium, hydrogen and hydrocarbon exploration, development, and production company, has announced that it has sold its interest in Nadsoilco LLC for a consideration of up to US$1.75 million subject to the completion of due diligence by the acquiror.