The President of Côte d’Ivoire, Alassane Ouattara and the Chief Executive Officer of Eni, Claudio Descalzi have announced a major discovery in block CI-205, offshore Côte d’Ivoire.
Category: Oil & Gas
Oil Prices Remain Rangebound Despite Extension of OPEC+ Cuts
The flatlining of oil prices continued this week despite positive trade data coming out of China and impressive Indian oil demand, with a continued build-up in US crude inventories and scepticism vis-à-vis OPEC+’s extended voluntary cuts offsetting that positive momentum.
Oil Markets Await the Next OPEC+ Announcement
Diverging macroeconomic news, with China and Europe continuing to struggle with below-expectations manufacturing activity while the United States is nearing the point of first interest rate cuts, failed to alter the trading patterns of February, keeping Brent around the $83 per barrel mark.
Congo Debuts First Liquefied Natural Gas Carrier, Paving the Way for Major Gas Exportation
Johannesburg, South Africa// — The launch of the Republic of the Congo’s first LNG carrier, emerging from the nation’s premier Congo LNG Project, showcases the country’s firm dedication to responsibly harnessing its natural resources and advancing towards a more sustainable and eco-friendly economy.
Chinese Firm Sale of Unwholesome Fuel Products: CSOs Threaten to Sue NPA, Standard Authority
The Institute for Energy Security (IES) and the Chamber for Petroleum Consumers (COPEC), leading civil society organisations (CSOs) have threatened to sue the National Petroleum Authority (NPA), and Ghana Standard Authority (GSA) for allowing a Chinese firm, Sentuo Oil Refinery to flood the Ghanaian fuel market with unwholesome petroleum products.
African Leaders Must Find Ways to Encourage Ongoing Oil and Gas Investments
As the 2023 U.N. Climate Change Conference, the 28th Conference of Parties (COP28) in Dubai drew to a close, the air was thick with determination among the 200 delegates.
Supply Uncertainty Leaves Oil Markets on Edge
The continued rerouting of ships from Asia to Europe has been greatly reducing the availability of spot tankers that could be chartered, lifting the price of shipping, especially when it comes to clean products.
Heirs Energies Celebrates Third Anniversary, Records Significant Milestones in Production Growth
Lagos, Nigeria// – Heirs Energies, Africa’s foremost indigenous-owned integrated energy company, commemorated its third anniversary.
Transport Drives India’s Seven-month Peak in Fuel Demand
Boosted by a transport industry catering for festive travel, India’s fuel consumption hit a seven-month peak in December 2023.
Iran Withholds Oil Shipments to China, Demanding Higher Prices
Oil trade between China and Iran has hit a roadblock as Tehran ceased shipments, seeking higher prices from its primary customer, reported Reuters, citing sources.