Oil closed at the lowest since October, weighed down by earlier losses in equities.
Brazilian oil output is rebounding from outages that removed more than 300,000 barrels a day last month, highlighting how Latin America’s largest crude producer can confound OPEC efforts to micromanage the market.
Lukoil, Russia’s energy giant, has seriously lost its grounds across Africa, due to United States sanctions. Sanctions have complicated the company’s potential continuity in operating its largest oil field projects, grappling its investment particularly in Republic of Ghana, Democratic Republic of Congo, and Federal Republic of Nigeria.
TechnipFMC PLC said Thursday it had won a “significant” contract from Chevron Corp for a recently approved project to expand the Gorgon domestic and liquefied natural gas (LNG) project in Western Australia.
Shell is preparing to launch a new drilling campaign in Petroleum Exploration Licence 39 (PEL39) offshore Namibia, the company’s country chair in Namibia, Eduardo Rodriguez, said in a LinkedIn post on Thursday.
Senegal is emerging as a continental leader in gas-to-power solutions, combining innovative technical models with flexible project delivery to meet rapidly growing electricity demand, panelists said on Tuesday at the MSGBC Oil, Gas&Power 2025 conference in Dakar.
The Dangote Petroleum Refinery has taken delivery of its second-ever crude cargo from Ghana, a move that coincides with a sharp reduction in its purchases from Europe as the plant adjusts its slate ahead of major maintenance.
The Kwame Nkrumah University of Science and Technology (KNUST), Yinson Production West Africa Limited (Yinson), and the Petroleum Commission (PC) have commissioned the Net-Zero Carbon Emission Lab (NCEL), Ghana’s first specialised centre dedicated to scientific carbon measurement, emissions modelling, advanced decarbonisation research and industry-focused training.
Kosmos Energy said on Thursday that Senegal’s energy ministry has confirmed it has no plans to nationalise the Yakaar-Teranga gas field, in which Kosmos holds a 90% stake, but added it will return the licence by next July if no new partner joins the project.
Indian refiners are on track to buy the most Russian crude in six months this December, despite U.S. sanctions on Russia’s top two exporters that went into effect in late November.