Oil dipped as signs of stubborn US inflation whipsawed wider markets and OPEC said its latest supply cuts stalled.
The merged entity between Vitol Emerald Bidco and South Africa’s biggest filling station operator, Engen, will affect production and supply of refined petroleum products from local refineries, the Competition Commission said at a hearing of the Competition Tribunal yesterday.
Opec has once again kept unchanged its bullish forecast for oil demand growth this year, even while others including Saudi state-controlled Aramco continue to see much lower levels of growth.
Angola’s premier event for the oil and gas sector – the Angola Oil&Gas (AOG) conference and exhibition (https://apo-opa.co/4945xwG) – unites the country’s government and energy companies with global operators and investors.
Oil prices rose in Tuesday trade as geopolitical tensions in the Middle East continued to spur concern, but gains were limited on bearish demand sentiment and as the market waited for monthly reports from oil agencies.
As Qatar sets higher ambitions for its gas output, Iranian officials scramble to justify their under-performance in developing the South Pars field, resorting to statistical maneuvers to deflect criticism.
Geopolitics and supply chain dynamics will dictate the oil and gas outlook in 2024.
Earlier this month, French TotalEnergies said that it would buy a 33% stake in an exploration block offshore South Africa.
The Orange Basin has recently become something of a hot spot rivaling Guyana.
The largest discovery so far was made by TotalEnergies in the Venus field offshore Namibia, with estimated reserves of 3 billion barrels.
The Independent Petroleum Producers Group (IPPG) wholeheartedly endorses the recent Executive Orders signed by President Bola Ahmed Tinubu, aimed at revitalising investment in Nigeria’s oil and gas sector and positioning the nation as Africa’s premier investment destination within the energy sector.
Liberty Petroleum, has gained entry into one of Africa’s last undrilled frontier offshore petroleum zones by signing three production sharing agreements (PSAs)