Part of a broader push to diversify revenue streams and increase Panama’s competitiveness as a transit hub in global energy trade, the project is slated to be one of the largest investments in the canal’s history. The Panama Canal Authority estimates the project can bring average annual revenues of USD 160 million during the construction phase and more than USD 1.5 billion once operational.
Gold prices reached an all-time high above $3,500 per ounce due to increased speculation of a September interest rate cut by the US Federal Reserve and ongoing political tensions.
Airtec is a manufacturer and supplier of industrial and speciality gases to the energy, manufacturing and healthcare industries. The acquisition will add to Linde’s operational assets in the region, which include air separation units, carbon dioxide plants and associated infrastructure.
Three international consortiums have been invited by the Kuwait Authority for Partnership Projects (KAPP) to submit proposals. They are led by Abu Dhabi National Energy Company (TAQA), Saudi Arabia’s ACWA Power and China Power International.
STR operates globally with technology and service facilities in Aberdeen, Great Yarmouth, Houston, Perth, Singapore and invested £5m in a new Norway facility earlier this year which Christie will oversee. The company has doubled headcount in the last three years and now has 120 people with further growth to be delivered through strategic acquisitions, market expansion and a diversified technology and solutions offering, with plans to have a dedicated Middle East facility next year.
Ghana’s Energy Ministry has recently hinted at an arrangement where Nigeria would supply natural gas to Ghana, which Ghana would then use to generate electricity. Instead of paying for the gas in cash, Ghana would export some of the electricity back to Nigeria and other neighbours as a form of barter trade.
Nigeria has signed a production-sharing contract (PSC) with TotalEnergies and local firm South Atlantic Petroleum for two offshore blocks, in a step to boost exploration and attract investment under its new oil framework.
Over the past couple of years, China’s oil industry has revealed a peculiar trend, with production maintaining an upward trajectory that seems to defy falling oil prices. Under normal circumstances, oil and gas producers tend to cut back output whenever prices fall too much in a bid to cut their losses. For instance, several U.S. shale producers are signaling production cuts due to low oil prices: back in May, Diamondback Energy (NASDAQ:FANG) chair and CEO Travis Stice warned that the Shale Patch had reached a “tipping point” with production set to decrease going forward amid low oil prices.
In 2024, GAC strengthened its reputation in Kuwait as a logistics partner, helping businesses across the country and the wider region streamline their supply chains. By expanding our liner operations with new routes and boosting export volumes, we gave our customers faster, more cost-effective shipping options.
A profit based mechanism is OEUK’s proposed replacement for the current Energy Profits Levy (EPL), the statement highlighted, noting that it’s designed to “trigger only during periods of unusually high prices, tax excess profits or revenues, [and] adjust fairly when prices fall, restoring investor confidence”.