As part of the African Energy Chamber’s Invest in African Energy reception in Dubai on Thursday – representing the fourth stop on the Chamber’s global investment tour – a panel discussion was held to unpack the latest developments, trends and opportunities within Africa’s shifting exploration and production (E&P) landscape.
Crude oil prices have so far held on to their gains from Monday despite the latest PMI reading for China, which showed a decline in March, suggesting hiccups along the way to recovery.
Several of the world’s largest oil exporters have said they are cutting their production levels, which has caused a leap in crude prices.
Adetola Bademosi, Abuja The Federal Government has approved the amendment of the 2022/2023 deep offshore oil blocks mini bid round. It said the move was in a bid to boost confidence in the transparency and continuity of the 2022/2023 Mini-bid Round process. The Chief Executive, Nigerian Upstream Petroleum Regulatory Commission (NUPRC) Engr. Gbenga Komolafe in […]
The African Energy Chamber (AEC) (http://www.EnergyChamber.org) united financiers and energy stakeholders from the UAE, Middle East and Africa during its Invest in African Energy reception in Dubai on Thursday, aimed at cementing deeper, longer-term and mutually beneficial relations between the two regions and advancing shared interests in diversification, energy security and infrastructure development.
Natural gas prices in the United States fell to a 30-month low last week, dropping to $2 per mmBtu. And, while some producers have curbed drilling, the surplus isn’t going away anytime soon.
The OPEC+ group is not expected to intervene in the oil market with changes to its production policy, likely keeping the current quotas until the end of 2023, despite the oil price plunge and the financial markets turmoil, three OPEC+ delegates told Reuters on Wednesday.
Historically, giant commodity traders such as Switzerland’s Vitol, Glencore, and Gunvor as well as Singapore’s Trafigura have dominated the global oil trade while smaller trading desks that lack the wherewithal and deep infrastructure networks of the giants usually feed on crumbs.
Crude oil prices moved lower today as the Federal Reserve signaled the U.S. economy is not yet out of the woods and the EIA reported yet another weekly build in crude oil stocks.
Oil prices edged lower on Wednesday following fresh indications of weak demand, and as the market awaited a crucial interest rate decision by the U.S. Federal Reserve.