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.
Category: Energy
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.
We Fixed Dumsor – Mahama Slams Government Over Power Cuts; VAT on Electricity
The Flagbearer of the opposition National Democratic Congress (NDC) for election 2024, John Dramani Mahama, has said the government is returning the country to the days of severe power crisis christened “dumsor.”
Economist Slams Govt’s Decision to Impose VAT on Power Consumption
Accra, Ghana//-Economist and former Board Chair of the Ghana Revenue Authority (GRA), Prof. Stephen Adei, is kicking against the newly introduced VAT on electricity consumption.
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.
Mid-East Tensions Continue To Support Oil
Oil prices are set to finish this week with a slight gain after Middle Eastern tensions helped recoup losses after US inventory data. Despite a hefty 5.5-million crude stock draw, believed to be the usual year-end clearing of inventory to minimize ad valorem inventory taxes, the immediate reaction was a slight downward correction after both […]
Nigerian Independent Oranto Petroleum Extends its Ugandan Exploration Licenses
Abuja, Nigeria// — Oranto Petroleum (http://Atlas-Oranto.com), a Nigerian independent energy company founded by Prince Arthur Eze has, on 22 December 2023, been granted a two-year exploration license extension to its Ngassa Deep and Ngassa Shallow exploration contract areas in Uganda.
Oil Prices Gain Ahead Of Christmas
Trading liquidity has evaporated with Christmas being just around the corner and Angola’s sudden parting ways with OPEC failed to swing oil prices in any direction.
Sub-Saharan Africa: Top 5 Service Contracts Awarded to European Companies
Paris, France, December 21, 2023/ — New offshore projects in Ivory Coast, Angola and the Republic of the Congo (ROC) have created lucrative opportunities for European service providers, who offer the latest technologies in drilling, engineering and subsea services.