Crude oil prices recovered lost territory today after the U.S. Energy Information Administration reported an inventory draw of 1.4 million barrels for the week to May 3.
Saudi Aramco has raised the official selling price of all the grades it exports to Asia, with flagship Arab Light for delivery in June set to become $0.90 more expensive, Bloomberg reported citing a pricing list it had seen.
Norway saw cash flow from its stakes in oil and gas fields nearly halve in the first quarter of 2024 compared to the same period of 2023, as natural gas prices slumped and gas consumption in Europe was below expectations, said state company Petoro, which manages field holdings of Western Europe’s top oil and gas producer
While Rwanda is commemorating 30 years of genocide, many Africans know all too well what can happen when media outlets single out certain groups of people and Individuals for constant attacks. Radio Télévision Libre des Mille Collines instigated the hate. “The Namibian” newspaper has become the Radio Télévision Libre des Mille Collines of Namibia with their hate fill rhetoric and xenophobia. Africans understand how demonisation cultivates hatred that leads to death on a horrifying scale.
Spanish oil major Repsol SA expects production to climb with the addition of two oil fields in a joint venture with Venezuela, where the company is exempt from reimposed US sanctions.
Prime Minister Shehbaz Sharif has ordered probe into the curtailment of gas supply to the public gas utilities because of delay in payments.
Financial details of Shell’s vast oil and gas trading business are some of the company’s closest-held secrets.
Documents in a lawsuit filed by a former employee, however, revealed its U.S. crude trading regularly earns around US$1 billion every year.
Bharat’s electricity sector is set for substantial growth and diversification. Bharat has set several targets for energy transition, security, and access, with specific timelines. As a part of the Nationally Determined Contributions (NDCs) submitted to the UNFCCC, India aims to increase the share of installed capacity for electric power derived from non-fossil fuel sources to 50% by 2030. Additionally, Bharat has set a goal to achieve net-zero emissions by 2070[1] and is on track to meet this target[2].
Namibia’s national oil company has signed a development deal with Chevron that will see the US oil major take an 80% operating working interest in an offshore block in the Walvis Basin, it said on Monday.
Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against the Nigerian
National Petroleum Company (NNPC) Limited over the “failure to account for and explain the whereabouts
of the alleged missing USD$2.04 billion and N164 billion oil revenues.”