(World Oil)– U.S. sanctions on Russia’s energy giants are sending shockwaves deep into the heart of China’s oil industry, where both state and private refiners face heightened pressure to keep up supplies while steering clear of penalties. As much as 20% of China’s crude imports — about 2 MMbpd in the first nine months of this year — come from
(Oil Price) – Operators and developers are expected to spend a total of $43 billion on oil and gas projects in Africa this year, as established producers and newcomers see growing investments, the African Energy Chamber said in a new report. Longer term projections point to capital expenditure (capex) hitting a decade-high of $54 billion in 2030, thanks to fresh final investment
(World Oil) – Africa’s national oil companies (NOC) are moving beyond operating as state-representatives by transforming themselves into competitive upstream players. By strengthening their balance-sheets through partial privatization, transferring their regulatory roles to independent entities and acquiring more assets, NOCs are emerging as strong partners for foreign firms. Boosting production Major oil producers in Africa are striving to boost production
(World Oil) – I’ve said for years that African energy is a vital investment. Backers clearly agree — to the tune of USD47 billion. That’s how much capital expenditure (capex) 2024 saw in African oil and gas, showing a 23% increase from last year. Better yet, we expect growth to continue through the end of the decade. This capex activity
Nasdaq The Brent crude market structure and some physical markets in Europe and Africa are reflecting tighter supply resulting partly from concern about shipping delays due to vessels avoiding the Red Sea, according to traders, LSEG data and analysts. The disruptions have combined with other factors such as outages and rising Chinese demand to increase competition for crude supply that
World Oil More than 100 oil and gas projects should commence operations in Nigeria during the next four years, accounting for more than 24% of the predicted total projects starts during that time, predicts GlobalData, a data and analytics company. GlobalData’s report, ‘Africa Oil and Gas Projects Analytics and Forecast by Project Type, Sector, Countries, Development Stage, Capacity and Cost,
By Tyler Losier, Energy Reporter, Oil & Gas 360 Qatar Petroleum signs agreement to farm Total-held exploration acreage in Namibia, Guyana and Kenya Qatar Petroleum (QP), Qatar’s state-owned energy company, has signed an agreement with French supermajor Total SA (stock ticker: TOT), under which the company will farm into Total-held exploration acreage in Namibia, Guyana and Kenya. With regards to
From The Houston Chronicle Houston oilfield service company Halliburton has landed nine contracts to drill and complete a series of wells off the coast in West Africa. Australian exploration and production company Woodside Energy awarded the contracts to Halliburton as part of the first phase of developing the SNE Field off the coast of Senegal. Financial terms have not been
From Reuters Anadarko Petroleum Corp (APC.N), in its last earnings report before shareholders vote on its sale to Occidental Petroleum (OXY.N), on Friday reported a quarterly profit that topped analysts’ estimates, as higher production offset lower prices for its oil. It reported a net loss on a $1 billion breakup fee paid to Chevron Corp (CVX.N). Anadarko accepted a $38
From E&E News The United States is rapidly increasing its exports of liquefied natural gas. But it isn’t the only nation doing so or that has plans to do so. The addition of the Cove Point LNG plant in Maryland brings the number of major LNG export centers in the U.S. outside Alaska to two. Sabine Pass in Louisiana became
Halliburton Company (ticker: HAL) announced a loss from continuing operations of $805 million, or ($0.92) per diluted share, for the fourth quarter of 2017. Adjusted income from continuing operations for the fourth quarter of 2017, excluding charges related to United States tax reform and Venezuela receivables, was $462 million, or $0.53 per diluted share. This compares to income from continuing
Erin Energy: Oyo-9 to double company’s production by the end of 2017; subsequent exploration wells have potential to unlock a one billion barrel reserve opportunity At its recent 2017 The Oil & Gas Conference®, EnerCom’s Oil & Gas 360® conducted an exclusive video interview with Erin Energy (ticker: ERN) Chairman Frank Ingriselli. Erin Energy has acquired a strategic portfolio of
