Category: Oil & Gas

The resumption of US-Houthi hostilities and the almost immediate restart of Israeli strikes on Gaza has brought geopolitical risk premia back to the limelight, even if this week’s upside has so far been capped at $72 per barrel for ICE Brent.

Crude oil prices continue to recover from this year’s lows, rising more than 1.4% today across both Brent and West Texas Intermediate.

CAPE TOWN, South Africa// — Egypt’s energy sector is experiencing a new wave of optimism as the country steps up efforts to attract foreign investment in its oil and gas industry.

Canadian tariff drama, fears of OPEC+ production returning to markets, Trump’s maximum pressure on Iran, and a US-China trade war – this week seemed to have it all. Oil prices tumbled through the week but then started to recover early on Friday morning. 

The Tuesday drone attack on the CPC pipeline, Kazakhstan’s key export conduit, has set a bullish tone for this week with four straight daily gains and ICE Brent trending around $76 per barrel.

Ukraine’s drone strikes on Russian pipeline infrastructure, somewhat ironically carrying Kazakh crude oil to the Black Sea, have set a bullish tone for this week as the Monday settlement of ICE Brent climbed back above $75 per barrel.

Accra, Ghana//-The The National Petroleum Authority (NPA) has established a new price floor for petroleum products, effective for the second pricing window of February.

Backwardation has eased in global crude futures and oil is set to rebound from three straight weeks of losses.

Vivo Energy, the company that distributes and markets Shell and Engen-branded fuels and lubricants across Africa, has launched a dynamic new corporate brand – a significant milestone in the company’s growth.

Johannesburg,  South Africa// — Equatorial Guinea is taking decisive steps to revitalise its upstream sector, with plans to launch a new licensing round in 2025 to increase exploration and production.