International Energy Agency chief Fatih Birol says the Iran war has permanently changed the fossil fuel industry and will accelerate a shift toward renewables, nuclear power and electrification at the expense of oil demand.
Nigeria’s government has approved Eni to proceed with the USD 7.3-billion Zabazaba deepwater project and the USD 3-billion Etan field development, Africa Energy Council reported on Thursday.
Funds managed by alternative asset manager Apollo have agreed to acquire a 40% stake in Canada’s Pembina Gas Infrastructure (PGI) from KKR, Apollo announced on Thursday.
The African Petroleum Producers Organization is advancing plans to develop regional energy hubs aimed at improving infrastructure connectivity and scaling oil and gas investment across Africa.
Investment in oil and gas production is set to rise as disruptions from the Iran war spur a global push for energy security, according to the head of Baker Hughes Co.
India has ramped up purchases of Russian oil and revived alternate supplies from Africa, Iran and Venezuela to blunt a sharp crude shortfall from the crisis-ridden Middle East, analysts said
Oil prices rose Sunday after an Iranian official warned that the Strait of Hormuz will “under no circumstances” return to its previous state.
State-owned Ecopetrol SA, Bogotá, Colombia, has agreed to acquire a 26% equity stake in Brava Energia SA from a group of shareholders and plans to launch a tender offer to increase its ownership to 51%, which would give it control of the Brazilian oil and gas independent.
Iran’s parliament speaker pushed back at U.S. claims of energy leverage on Sunday, arguing Tehran still holds unplayed supply cards as Strait of Hormuz oil exports remain 95% below normal flows.
PricewaterhouseCoopers (PwC) has called on South African investors, banks, and policymakers to take direct stakes in Nigeria’s upstream oil sector to guarantee crude supply for their domestic refineries, adopting the same playbook European and American majors used to build energy security for their countries.