Category archives for: Oil & Gas

UBA Acts as Lead Arranger for $1.5 Billion Facility to Boost Nigeria’s Oil Production

Lagos, Nigeria, August 5, 2020//-The United Bank for Africa Plc (UBA), the leading pan-African financial services group, has acted as the lead arranger of a consortium of Nigerian commercial and international banks in a $1.5 Billion Pre-Export Finance Facility for the Nigerian National Petroleum Corporation (NNPC) and its upstream subsidiary, the Nigerian Petroleum Development Company (NPDC).

Oil Prices Climb Despite Growing Demand Fears

August 4, 2020//-Oil prices opened trading on Tuesday down slightly, holding in a familiar range around $40 per barrel. Concerns about demand are beginning to take on a stronger narrative in the market, but for now, prices remain mostly steady. 

Nexus Between Ghana’s Oil Spillage and the Marine Environment

Accra, Ghana, August 1, 2020//-An oil spill is when any form of oil is released into the environment. It is deemed to occur when crude oil is illegally deposited into the ocean waters, thereby avoiding proper decomposition cost.

OPEC-Gabon Talks Embodies Africa’s Strong Support for Market Stability

Johannesburg, South Africa, July 27, 2020/ — The OPEC-Gabon Bilateral Meeting that took place on July 24th has sent yet another signal of the strong dialogue and cooperation between OPEC and African producing countries.

Oil Prices Stuck At $40

July 24, 2020//-Oil fell back to around $40 for WTI and $43 for Brent – familiar territory for the market over the past few weeks.

Oil Prices Hit Four-Month High On Vaccine Hopes

July 21, 2020//-Oil prices surged early on Tuesday to their highest level since Saudi Arabia and Russia broke up the OPEC+ pact in early March, thanks to promising results in a coronavirus vaccine trial and the European Union reaching a historic stimulus package deal after five days of marathon talks.

EXIM Reaffirms Support for Mozambique LNG Project

July 21, 2020//- As a major integrated liquefied natural gas (LNG) project in Mozambique advances toward fruition, the Export-Import Bank of the United States (EXIM) has reaffirmed its continuing support for the development by initiating the process of providing $4.7 billion in financing that will support an estimated 16,700 American jobs over the five-year construction period.

Gabon’s New Gov’t is Best Placed to Support Energy Industry Recovery

 Johannesburg, South Africa, July 20, 2020/ — The new Gabonese government announced last week by President Ali Bongo Ondimba demonstrates Gabon’s intention to work on a post-Covid19 recovery based on sustainability, transparency and a sound and stable business environment.

Adding Fuel to the Fire: Cheap Oil During the COVID-19 Pandemic

July 18, 2020//-Since March, oil markets have been buffeted by an exceptional confluence of demand and supply shocks that have culminated in an unprecedented collapse in oil prices.

Russian Oil Minister: Get Ready for a Significant Uptick In Crude Oil Demand

July 17, 2020//-Global oil demand will recover significantly next month, climbing to be within 10% of the level that the world saw prior to the coronavirus pandemic, Russia Energy Minister Alexander Novak said on Thursday, according to Reuters.

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