The UK government is drafting a new tax regime for oil and gas companies to replace a controversial windfall levy after 2030, with an aim to hit companies only when prices are unusually high.
Ecuador’s President Daniel Noboa has ordered a consortium seeking to take over the nation’s top oil asset to pay an entry fee of $1.5 billion by March 11, moving up the deadline by more than three weeks.
Tanzania aims to start a licensing round for dozens of oil and gas exploration blocks in May, the first in more than a decade for the nation with an estimated 57 trillion cubic feet of natural gas reserves.
In a courtesy meeting with the newly appointed Minister of Energy and Green Transition, Dr John A. Jinapor, AETC Founder and President, Emelia Akumah, along with Board member Tony Burkson, engaged in discussions with the Minister, his Deputy Richard Gyan-Mensah( Designate), and the Chief Director Mrs Wilhelmina Asamoah.
The Venezuelan JV “was structured through an indirect 40 percent equity participation in Vencupet SA, facilitated via GoldPillar International SPC Ltd. (‘GP’), a British Virgin Islands-based fund that holds 40 percent of Vencupet”, NSE said in an online statement. Petroleos de Venezuela SA (PDVSA) holds 60 percent of Vencupet.
China’s diesel demand likely peaked in 2019, with gasoline consumption cresting in 2023, Ma Yongsheng, chairman of the nation’s top refiner Sinopec Group, said Wednesday. Still, the nation’s overall oil consumption hasn’t peaked yet, he said, and that’s down to rising demand for chemicals products.
Trump delivered on his threat to hit Canada and Mexico with sweeping import levies and doubled an existing charge on China, sparking swift reprisals that threaten to reduce global economic growth and curtail energy demand. The moves come a day after OPEC+ said it would increase output after repeated delays, a decision that surprised a market already weighed down by expectations for a surplus later this year.
BP’s slide and the drop in crude prices complicates a bet by Elliott Investment Management, which has bought up around 5% of BP. The activist investor has been ramping up pressure on BP after its new strategy fell short of its expectations, people with knowledge of the matter said.
Jim Krane, a Research Fellow at Rice University’s Baker Institute, told Rigzone in a separate exclusive interview on Tuesday that prices are a bit more sensitive now because so much gas in storage was burned up to keep Americans warm during the cold snap.
In January, Shell announced Andrew Smith’s promotion to lead the trading and supply arm and elevated him to the committee, signaling the unit’s increasing importance to the energy giant. Machteld de Haan is also due to join the committee as the leader of downstream, renewables and energy solutions.