The United States will use Venezuelan crude to refill the Strategic Petroleum Reserve, President Donald Trump said on Sunday on social media. Describing the move as a “Gift from Venezuela to the People of the United States,” President Trump said the “topping out” will begin soon, as quoted by Reuters. The Strategic Petroleum Reserve has been drawn […]
Paulo Pizarro, chairman and CEO of Novagest, talks to The Energy Year about the impact of Angola’s oil and gas investment cycle on business and the company’s measured expansion into new service verticals and target markets. Novagest is an Angolan provider of catering, facilities management and associated support services for oil and gas and other […]
The US is close to reaching a deal with Venezuela to establish a stake in 17 oil fields, potentially worth 90 billion barrels of the country’s vast reserves, reported Axios on Thursday.
Italian energy giant Eni is ramping up investment in Egypt, unveiling plans to drill 30 exploration wells and 200 development wells as it deepens its role in the country’s oil and gas sector. Eni Chief Executive Officer Claudio Descalzi met Egyptian President Abdel Fattah al-Sisi in El Alamein on Tuesday, along with Prime Minister Mostafa […]
Tanzania’s first small-scale LNG facility just got a lot closer to happening. Tanzania Petroleum Development Corp. (TPDC), TAQA Arabia—operating through its subsidiary Rosetta Energy Solutions—and Africa50 signed a gas sales agreement (GSA) for the East Africa LNG (EALNG) project. The signing took place in front of Tanzanian President Dr. Samia Suluhu Hassan, which says a lot […]
The Federal Government has tasked petroleum engineers and other industry professionals with supporting its drive to increase Nigeria’s crude oil production to three million barrels per day (bpd) by 2030. The Minister of State for Petroleum Resources (Oil), Sen. Heineken Lokpobiri, gave the charge on Saturday at the inauguration of the sixth National Chairman of […]
Ghana’s upstream oil and gas sector is entering a potential recovery phase after several years of declining production and investor uncertainty. The government has resolved outstanding disputes with upstream operators, extended key licences and introduced gas-pricing reforms aimed at improving project economics and strengthening domestic energy security. Against this backdrop, the Petroleum Commission has confirmed […]
Oil prices settled lower on Friday, also down for the week as traders evaluated hints about the U.S. Federal Reserve Bank’s inflation-fighting policy and rumors of a possible agreement on shipping through the Strait of Hormuz.
Gas producer Energean (ENOG.L), opens new tab is in exclusive talks to buy some of BP’s (BP.L), opens new tab upstream oil and gas assets in Egypt, two people involved in the process told Reuters.The deal, which could raise about $1 billion for BP, includes its stakes in the producing offshore West Nile Delta assets, […]
Africa has emerged as the center of a global upstream acreage rush. That’s what Enverus Intelligence Research (EIR) said in a statement sent to Rigzone on Wednesday, which noted that the continent has captured nearly half of new upstream country entries globally “as operators broaden exploration portfolios”. EIR, which is a subsidiary of Enverus, highlighted […]