In a collaborative effort aimed at tackling the escalating Buruli ulcer and Neglected Tropical Diseases (NTDs) crisis, Pecan Energies Ltd has joined forces with the Buruli Ulcer Victim Aid (BUVA) Foundation to provide vital resources to the community of Duaponko in the Afigya Kwabre North district of the Ashanti region.
Last week, the International Energy Agency reported that global oil demand growth is losing momentum, with demand growth clocking in at 1.4 mb/d in January, down from 2.8 mb/d in 3Q23 to 1.8 mb/d in 4Q23. According to the IEA, the expansive post-pandemic demand growth phase has largely run its course. Thankfully, falling supply is expected to counter slowing demand growth with non-OPEC supply by the U.S., Brazil, Guyana, and Canada expected to come in at 1.6 mb/d this year compared to 2.4 mb/d in 2023.
A state environmental agency in Kazakhstan has fined an oil company in the west of the country $780,000 over a prolonged fire at one of its fields last year that caused one of the largest emissions of methane in history.
Last year, 2023, was a tumultuous period for South America’s oil industry. Increased recognition of climate change saw regional governments push to reduce emissions and implement policies aimed at enhancing environmental protection. Elevated geopolitical instability along with increased regulatory scrutiny and tax hikes further impacted the continent’s oil industry.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) reports a reversal in the investment decline in the oil and gas upstream sector, as stated by Gbenga Komolafe, the CEO of the commission.
(Togo First) – Niger could soon supply diesel to Togo. Talks in this framework were recently held, according to a press release from the Nigerien Ministry in charge of Energy. The release referenced a meeting that took place on February 17, 2023, between the Ministers of Energy of Togo, Burkina Faso, Mali, and Niger.
Ras Laffan, Qatar: Qatar’s Minister of State for Energy Affairs HE Eng. Saad bin Sherida Al Kaabi on Monday called for a ceasefire in Gaza to end insecurity in the Red Sea which has disrupted hydrocarbon deliveries in the vital shipping route.
With an overall picture that continues to be marked by uncertainty, also due to the persistent decline in oil prices (which in the fourth quarter of the year dropped 5% compared to the fourth quarter of 2022) and gas (- 57% in Europe) in recent months, Eni reaches the halfway point of the preliminary balance sheet with an adjusted net profit, i.e. excluding extraordinary items, of 8.3 billion, down 38% compared to the previous year due to the weakening of the prices, while for the quarter the bar stands at 1.6 billion compared to 2.5 billion in the same period of 2022 (-34%). Net profit is equal to 4.7 billion (-66%), for the fourth quarter the figure is 149 million (down by 76%).
Total revenue for the fourth quarter of 2023 was €25.027bn ($26.96bn), a decrease from €31.81bn in Q4 2022.
After a two-year hiatus triggered by the historic oil price crash of 2020, the U.S. oil and gas sector saw a surge in mergers and acquisitions (M&A) in 2023 despite a general slowdown in deal-making in many sectors. Last year, the sector leveraged high stock prices and went on a $250 billion buying spree, mostly aimed at securing lower-cost reserves that will help them deal with future challenges.