In June 2029, the Namibian government pays N$200 000 to 500 000 households from oil tax revenue. Desperate to win elections later that year, the ruling party raids the sovereign wealth fund and mortgages future oil revenue to afford the N$100 billion payout.
Energy Capital and Power (ECP) (https://www.EnergyCapitalPower.com) is proud to announce that Tom Alweendo, Namibia’s Minister of Mines and Energy, will deliver an address as a keynote speaker at the Angola Oil & Gas (AOG) 2023 Conference & Exhibition, scheduled for September 13-14 in Luanda. During the AOG 2023 conference – which convenes under the theme, […]
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says it projects an increase in natural gas production from 8.0 billion cubic feet per day (bcfd) in 2020 to 12.2 bcfd in 2030 through its gas development efforts.
The near collapse of Venezuela’s once colossal oil industry under the weight of endemic corruption‚ and strict U.S. sanctions, along with Mexico’s sputtering mature oil fields, saw Latin America’s economically crucial hydrocarbon sector fall into decline.
RIYADH: Driven by a fall in crude and commodities pricing, oil and gas production in the US is decelerating at a time when demand is showing signs of recovery, research by the Federal Reserve Bank of Dallas has shown.
It was meant to be an arrangement by which Nigeria swapped crude oil for refined petroleum products but now it has emerged the country has accumulated up to $3 billion in debts owed to trading houses such as Vitol and oil majors like BP for fuel supplies.
ABUJA, June 12 (Reuters) – Nigerian President Bola Tinubu has been advised to reduce the state’s stake in the oil and gas sector to raise up to $17 billion to boost economic growth during his four-year term, a policy document showed.
If it was Russia’s intention to send oil tumbling after its oil minister last week said that OPEC+ has no intentions of cutting production, in the process inviting another round of shorts and bearish CTAs, well… mission accomplished: on Wednesday oil tumbled more than 3% following the latest dismal Chinese PMI data, and followed a 4.4% […]
Singapore, a major hub for oil transportation and storage, has detained this year a record-high number of oil and chemicals tankers that have failed to pass inspection—more than the number of detained tankers in the whole decade to 2019. As old tankers are increasingly used by Russia to ship its crude oil and products without […]
South Africa is one step closer to having a new entity in charge of petroleum in the country, with a significant merger between PetroSA and other Central Energy Fund (CEF) subsidiaries progressing.