The U.S. presidential election promises to dominate global news coverage for the next 24 hours, and oil markets will be watching developments closely after both WTI and Brent banked gains from the OPEC+ decision on Monday.
The revenues from oil for the state were also impacted by the government subsidy paid to local refiners.
NG Energy has commenced production and sales from its Sinu-9 gas project in Colombia.
Canadian independent Touchstone Exploration has secured an exploration and production licence through its Trinidadian subsidiary Primera Oil and Gas Limited (POGL) for the Rio Claro block in Trinidad
The law has been anticipated for years as Shell Plc and other companies delayed activity or withdrew completely from South African acreage, citing regulatory uncertainty.
The project serves as part of a series of gas-focused investments the company is undertaking in Angola alongside various partners.
The company made this known in reaction to a claim by the marketers that the refinery’s prices are higher than other suppliers, making it difficult for independent marketers to buy from it.
As a counter, frac pricing has nudged up, but nothing close to what we’ve lost to inflation. Eating into our margins too is discounting. Every attempt is being made by services companies to get E&Ps to work.
According to him, the country currently relies on approximately 150 megawatts, leading to ongoing load shedding across major cities, commonly referred to as Dumsor.
A report this week from the World Bank has set off alarm bells about a coming oil glut that has the potential to seriously disrupt global economics and trade patterns.