Indonesia offered 10 oil and gas blocks in 2023, with two working areas Akimeuga ..
Environmental policy expert says fossil fuels have been net benefit for society
Tullow Ghana led the pack at the maiden Chartered Institute of Supply Chain Management (CISCM) Awards held over the weekend in Accra.
This was made known on Monday via the commission’s X platform, explaining that the decision was made to improve dependability and sustainability to meet the country’s fuel supply and energy security requirements.
Crude prices spiked more than 4% before ebbing somewhat after the allies launched deadly strikes following weeks of disruptive rebel attacks on Red Sea shipping
At the COP28 summit in Dubai, nations agreed to move away from fossil fuels.
Natural gas, labeled a “transitional fuel” at the conference, is experiencing a surge that is unlikely to slow any time soon.
Despite having a cleaner image than other fossil fuels, there are still concerns over the environmental impact of expanding the natural gas industry.
Analysts: oil prices are likely to remain around current levels this year.
OPEC+ producers now have sufficient spare capacity to potentially counter extreme market tightness and disruptions to oil flows that could result from geopolitical risks in the Middle East.
As of November 2023, the OPEC+ alliance held 5.1 million barrels per day (bpd) of spare oil production capacity—or about 5% of global demand.
Shipping disruptions across the Red Sea threaten global trade after major shippers, such as Maersk and others, have rerouted vessels.
As of Monday, QatarEnergy, one of the world’s largest LNG exporters has stopped shipping cargoes through the Red Sea.
Possible delays or disruptions of LNG shipments from Qatar are not a concern to European traders yet.
National average gasoline prices rose 0.6 cents from a week ago, hitting $3.04 on Sunday.
The national average price for diesel in the U.S. has seen a 2-cent drop in the last week, now at $3.89 per gallon.
GasBuddy: the escalating situation in the Red Sea created significant volatility.
Speakers participating during a finance panel at the Libya Energy&Economic Summit (LEES) this week shared that the country’s planned licensing rounds – for domestic companies as well as an international tender – will be launched soon, in line with national targets to more than double oil production.