The African Group of Negotiators on Climate Change (AGN), has assured the African civil society of its commitment to protecting Africa’s interests in the newly operationalized Loss and Damage Fund.
COP28 president Sultan Ahmed Al Jaber speaks during a meeting at the United Nations climate summit in Dubai on December 2, 2023. The COP28 conference opened on December 1 with an early victory as nations agreed to launch a “loss and damage” fund for vulnerable countries devastated by natural disasters
Tokyo Gas Co. said its subsidiary Tokyo Gas America Ltd. will purchase Haynesville shale operator Rockcliff Energy II LLC for about $2.7 billion in a move to expand its U.S. shale gas operations.
Gazprom and CNPC agreed to increase the volume of Russian gas export to China through the Power of Siberia pipeline next year.
(MENAFN) A noteworthy transformation has quietly unfolded in Nigeria’s oil industry over the past year, marked by the exodus of international oil companies from various parts of their operations within the country. The latest development came at the end of last month when Norwegian oil company Equinor finalized the sale of its Nigerian entity to the relatively unknown local firm, Chabal Energy. This move signified the conclusion of Equinor’s three-decade-long association with Africa’s largest oil producer.
The total number of active drilling rigs in the United States fell by 2 this week after climbing by 10 over the course of the last four weeks, according to new data that Baker Hughes published Friday.
Hedge funds have cut their bullish bets on crude oil to record lows.
Money managers have slashed their net long positions in both WTI and Brent crude oil by 59,094 lots to just 149,272 in the week ending December 12.
Crude oil prices have been on the decline over the last month, although spot prices for both benchmarks were trading up on Friday.
The escalating Venezuela-Guyana dispute could provide an opportunity for the AUKUS alliance to intervene in the region and counter the influence of China, Russia, and Iran.
US Southern Command has conducted joint operations with the Guyana Defense Forces and the U.S. has said it would support Guyana’s sovereignty.
Geopolitical maneuvering by China, Iran, and Russia has fueled tensions in the region, and with a presidential election looming in Venezuela, the stakes are only getting higher
The Organization of the Petroleum Exporting Countries (OPEC) said global oil demand should grow by 2.2 million barrels per day next year to an average of 104.36 mbd.
Benchmark Brent averaged around US$80 a barrel this year, after a volatile 2022 in which prices surged above US$100 after Russian supplies were disrupted following the Ukraine war