Copper prices this week fell to the lowest since last November on weak economic data from China. Yet the International Copper Study Group, a group of copper exporters and importers, just said it expected a deficit of the metal this year.
Crude oil started trade this week with a decline, based on Asian trade data from earlier in the day, as traders’ worry about the state of the global economy trumped any expectations of tight supply
Middle Eastern oil producers are raising the export prices for their lower-grade crudes, Bloomberg reported earlier this week. And European buyers have no choice but to pay up—because the alternative is Russian oil, and they can’t have that.
For the third month running, OPEC has barely changed its forecast of global oil demand, predicting growth of 2.33 million barrels per day, or 2.3% Y/Y growth, good for a very slight increase from its previous forecast of 2.32 million barrels per day
A total of 25.3 billion cubic feet (bcf) of natural gas worth about $169 million was lost in the upstream petroleum sector through flaring.
African Energy Chamber Senior Vice President Verner Ayukegba addressed domestic and international stakeholders at the National Upstream Petroleum Local Content Policy workshop in Windhoek on Thursday, calling for expanded access to local financing solutions and a balanced approach to Namibia’s local content policy.
After a stellar run fueled by multi-decade-high commodity prices in 2022, the energy sector has become a laggard in 2023 as investors turn their attention to growth stocks in sectors like tech, software and IT.
In January this year, the Federal Court of Appeals in Mar del Plata dismissed a lawsuit brought forward by several environmentalist organizations and the mayor of the coastal resort city against an offshore oil and gas exploration project.
Kuwait plans to invest nearly $19 billion on 10 large oil projects in the next seven years, Zawya Projects reported, citing a local newspaper.
Economic growth in the oil exporters in the Middle East and North Africa will shift from oil to the non-oil sectors due to lower crude production as part of the OPEC+ agreement, the International Monetary Fund (IMF) said in its latest regional outlook published on Wednesday