Oil prices edged up in volatile trade on Monday, as Russia halted exports to Poland via a key pipeline ahead of a hefty supply cut announced for March, but a stronger dollar and fears of recession capped gains.
Western-led gas and condensate producer Karachaganak has reported another hiccup in hydrocarbons output for Kazakhstan as the operator deals with gas processing and shipping capacity restrictions while also working to mitigate ongoing depletion of its underground reservoirs.
When Russian tanks and troops rolled into Ukraine one year ago, it was no shock that crude prices spiked above US$100 per barrel for the first time since 2014.
Until recently, Guyana was relatively unknown to international investors. The small English-speaking country of about 800,000 people was one of the poorest in South America. Its position between Suriname, Brazil and Venezuela — the latter two being large oil-producing nations — meant Guyana was often overlooked.
Dubai, UAE: In conjunction with the ‘UAE Innovates’ initiative and in preparation for the 28th Conference of the Parties to the UN Framework Convention on Climate Change (COP 28), the Ministry of Energy and Infrastructure (MOEI) in the UAE organised an awareness workshop for organisations in the maritime sector from the government and private sectors to solicit ideas for maritime initiatives and projects.
The African Energy Chamber (AEC) (www.EnergyChamber.org), serving as the voice of the African energy sector, recently conducted a working visit to Ghana, meeting with key institutions and stakeholders to discuss the state of play of the country’s oil and gas sector.
North Africa has become a key export outlet of Russia’s diesel and other petroleum products after the EU embargo on imports of Russian fuels took effect in early February.
The Chamber of Petroleum Consumers (COPEC) is projecting a marginal 4.36% increase in prices of Liquified Petroleum Gas from Wednesday 1 March 2023.
A cargo of Russian oil is heading for storage tanks in Ghana, a nation that exports crude itself and is on the doorstep of two regional supply powerhouses.
Artificial Intelligence (AI) has already begun saving oil and gas companies millions of dollars a year by improving operational efficiency, the Al-Attiyah Foundation has stated in its latest Energy Industry report.