Oil & Gas

Shell to Focus on LNG for the Next 10 Years

Sawan noted that natural gas is one of the best fuels to reduce emissions in places that currently rely heavily on coal, such as China, India, and the rest of Asia. “We are absolutely committed to this sector,” he said, reiterating Shell’s prediction from earlier this year that demand for liquefied natural gas is set to expand by 60% between now and 2040.

Why Africa’s Largest Untapped Oil Field Has Yet to Flow

TotalEnergies’ Venus project in Namibia’s Orange Basin is the kind of discovery that makes oil executives’ eyes light up and governments dream of windfalls. The discovery – made in February 2022 – was immediately recognized as one of the African continent’s largest in decades, with an estimated 1.5 billion barrels of light crude at 45 degrees API and 4.8 Tcf of natural gas. Expectations are high: peak output is projected at around 150,000 barrels a day and the field could remain productive for 30-40 years.

Financiers return to support African hydrocarbon plays

With global demand for oil and gas remaining more robust than previously expected, the outlook for African hydrocarbon project financing is better than it has been for perhaps a decade. In addition to traditional revenue-raising upstream plays, African governments are increasingly opting for a combined gas and renewables energy mix to spur development, write Marc Howard and James Gavin.