Category archives for: Energy

Angola’s Dos Santos Moots Presidency Run Despite Charges

January 17, 2020//-Africa’s richest woman and Angola’s ex-first daughter Isabel dos Santos expressed interest on Thursday in running for the presidency despite an asset freeze and accusations of diverting more than a billion dollars of state money.

Tullow Oil Sees $1.5 Billion Write-Off As It Cuts Oil Price Outlook

January 16, 2020//-Tullow Oil expects to book US$1.5 billion write-offs for 2019, due to slashing its oil price assumption by US$10 a barrel and to reducing reserves expectations for African assets, the London-listed company said on Wednesday, after more than a month of production and exploration setbacks that ousted its chief executive in December.

Siemens Supports Ghana’s Transformation Trajectory

January 16, 2020//-Siemens has signed a Memorandum of Understanding (MoU) with the Republic of Ghana to address the country’s energy and infrastructure challenges, while contributing to the Governments growth and development agenda of creating high quality jobs and enhancing the vocational skills of Ghana’s youth.

Massive Oil Product Build Sends Prices Lower

January 16, 2020//-A day after the API’s crude oil inventory report pressured prices, the EIA relieved some of the pressure by reporting an inventory draw of 2.5 million barrels for the week to January 10.

Equatorial Guinea Discusses Energy Cooperation with Ethiopia

Malabo, Equatorial Guinea, January 15, 2020/ — The Minister of Mines and Hydrocarbons of Equatorial Guinea, Gabriel Mbaga Obiang Lima, held a meeting with his Ethiopian counterpart Samuel URKATO, Minister of Petroleum.

World’s Most Expensive Oil Nears $100 Per Barrel

January 14, 2020//-Strong demand for heavy-sweet crude grades amid the new shipping fuel regulations has resulted in a recent spot tender in which a crude from Australia sold for close to US$100 a barrel, making it what traders said was probably the most expensive crude in the world.

Climate Change and Financial Risk

Central banks and financial regulators are starting to factor in climate change January 14, 2020//-Climate change is already a reality. Ever-more-ferocious cyclones and extended droughts lead to the destruction of infrastructure and the disruption of livelihoods and contribute to mass migration.

China’s Oil Demand Growth Could Halve This Year

January 13, 2020//-This year, Chinese crude oil demand growth could be just half of the estimated growth for 2019, and the lowest growth pace since the financial crisis in 2008, according to forecasts of China’s biggest oil firm, state-controlled China National Petroleum Corporation (CNPC).  

Equatorial Guinea Signs MoUs to Boost Oil and Mining Exploration

Abu Dhabi, United Arab Emirates, January 13, 2020/ — The Ministry of Mines and Hydrocarbons of the Republic of Equatorial Guinea has signed several MoUs with successful bidders of its 2019 Licensing Round, on the sidelines of the Atlantic Council’s Global Energy Forum in Abu Dhabi.

Oil Bears Return With A Bang

January 10, 2020//-Oil prices are set to close out the week down sharply, lower than where they were before the Soleimani killing. WTI is currently at a one-month low. With de-escalation in the air, the geopolitical risk premium has disappeared for the time being.

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