Russia has succeeded in redirecting its crude oil and fuel exports after the EU embargoes and the price cap set by the West, Russian Energy Minister Nikolai Shulginov said on Tuesday.
The European Union is considering allowing individual member states to block LNG imports from Russia without slapping sanctions on Russian gas, a draft document seen by Bloomberg News showed on Tuesday ahead of a meeting of the EU energy ministers.
The African Energy Chamber (AEC) (www.EnergyChamber.org), the voice of Africa’s energy sector, is pleased to announce that Egbert Faibille, CEO of the Petroleum Commission of Ghana, will speak at the Invest in African Energy Reception in Dubai on March 30, an event hosted with the aim of providing investors from the United Arab Emirates (UAE) an opportunity to connect with African executives and explore new partnership possibilities.
THE African Energy the voice of the African energy sector – spoke with Foday B. L. Mansaray, Director General of the Petroleum Directorate of Sierra Leone, in an exclusive interview on the country’s latest oil and gas developments.
MUSCAT, March 27, 2023 – Oman has invited investors to bid on three local oil and gas blocks in its latest oil and gas licensing round, the Ministry of Energy and Minerals announced on Sunday.
While other oil majors have left Alaska due to high capital costs and regulatory hurdles, one U.S. oil firm is pushing ahead with oil development in the state, betting on a new project that could pump crude for decades.
Iraq’s crude oil production has been stuck between the 4.0-4.7 million barrels per day (bpd) level since 2016, with a mean average of about 4.5 million bpd during that period, but it could relatively straightforwardly produce 12 million bpd – way more than Saudi Arabia’s true crude oil production average of 8.2 million from 1973 to last Friday.
Southeast Asia will be a hotbed for upstream mergers and acquisitions (M&A) in the next two years, with more than $5 billion of assets up for grabs, Rystad Energy research shows. The bulk of these opportunities are in Indonesia, where upwards of $2 billion of assets are on the market, followed by Malaysia and Vietnam which have approximately $1.4 billion and $1 billion for sale respectively.
As oil sector deal-making starts to show signs of recovery, Brookfield Renewable Partners will acquire Australia’s Origin Energy utility for over $10 billion, while the Permian basin has scored another victory with a $1.45-billion asset sale.
Oil prices rose by 2% early on Monday, with the U.S. benchmark up above $70 a barrel again, driven up by a halt to Kurdistan’s 400,000-bpd of crude exports and signs of easing concerns about the global banking sector.