The Ghana Upstream Petroleum Chamber has expressed concern about the impact on foreign investment in Ghana as a result of the ongoing dispute between ENI and its partner VITOL on the one hand and Springfield on the other.
While the consensus opinion of the western elites may be that oil and gas is a dirty, outdated technology staggering on its last legs, the African Energy Chamber remains grounded in reality.
Floating LNG projects are becoming increasingly popular as Europe races against time to get its hands on as much natural gas as soon as possible, and developers look for cheaper and faster options to monetize gas resources. Just this month, a new floating LNG (FLNG) platform began to export gas from Mozambique to Europe, while several FLNG and floating storage regasification units (FSRUs) have already been set up in Europe, just a few months after the Russian invasion of Ukraine upended the EU’s energy policy.
Goldman Sachs has cut its oil price forecast by $10 to $100 per barrel, citing lockdowns in China that would dampen demand for the commodity.
OPEC’s de facto leader Saudi Arabia and OPEC+’s other members are discussing an oil production increase, OPEC delegates said on Monday, according to the Wall Street Journal.
Oil prices dropped to trade near two-month lows on Monday, having earlier slid by around $1 a barrel, as supply fears receded while concerns over fuel demand from China and U.S. dollar strength weighed on prices.
Climate negotiations at the United Nations Climate Change Conference, better known as COP, are over for another year. What can we take away from its 27th iteration?
The International Energy Forum has called on companies to raise investment in oil (USO) and natural gas (UNG) production to $523 billion a year by the end of this decade to prevent a surge in energy prices and economic unrest. They pointed out how spending on oil and gas projects slumped 30% to $309 billion in 2020 and had only recovered slightly in 2021. Now, you may dismiss these by saying that IEF is close to oil giant Saudi Aramco, and that their business interests are aligned in this matter.
With the biggest energy event in Africa post-COP27 set to take place in Luanda from November 29 to December 1, a strong lineup of regional energy ministers will make their way to Angola to lead discussions on the state of play of their respective energy sectors.
In the aftermath of the 2022 United Nations Climate Change Conference, or COP27, which closed over the weekend following two weeks of intense negotiations, many argue that very little progress was made on the phasing out of fossil fuels.