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UK’s Afentra Buys Shares in Two offshore Blocks in Angola

Afentra, a London-listed oil and gas independent, has agreed to buy shares in two offshore blocks in the Lower Congo and Kwanza Basins from Angola's government oil giant, Sonangol. The...
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Resolutions of the 28th OPEC and non-OPEC Ministerial Meeting

The monthly meeting was held via videoconference on Thursday, May 5th, and major decisions were made on achieving a balanced market in light of the ongoing effects of geopolitical circumstances...
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It’s Impossible to Trace Russian Crude in Refined Products – Shell CEO

According to Reuters, Chief Executive of Shell, Ben van Beurden, told journalists on Thursday that there is no way to know whether Russian crude oil is present or how much...
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Oil Demand May Fall This Year Because of COVID Lockdowns in China – Standard Chartered

According to Standard Chartered, China's oil demand is likely to fall this year compared to 2021 due to decreasing economic development and the extension of new COVID-related lockdowns. According to...
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Hungary and Slovakia Say They Still Need Russian Oil

On Tuesday, Hungary and Slovakia said they were unwilling to cut off Russian oil imports, increasing the prospect of countries opting out if the EU seeks to impose an embargo...
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The U.S. Loses Its Position as the World’s Top LNG Exporter

According to Bloomberg, after briefly surpassing Qatar and Australia as the world's top LNG exporters, the US lost the top spot to Qatar in April when volumes in the north...
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Italy Signs a Gas Supply Deal with the Republic of Congo

The letter of intent was signed by Congo's Minister of Hydrocarbons, H.E. Bruno Jean-Richard Itoua, and Luigi Di Maio, Italy's Foreign Minister, in the presence of Eni CEO Claudio Descalzi....
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Germany’s Uniper to Pay for Russian Gas in Rubles

After Russia's announcement last month of a new payment system, Uniper, one of Germany's top gas importers, will pay for Russian gas deliveries in rubles. Uniper announced earlier this week...
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Some Buyers in Europe Have Already Paid for Russian Gas in Rubles

Four European companies have already paid for Russian gas in rubles, according to Bloomberg, citing a source close to Gazprom, while the Russian gas giant halted shipments to Poland and...
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Europe Purchases Oil from Abu Dhabi to Replace Russian Crude

Abu Dhabi crude is on its way to Europe for the first time in two years as the European Union looks for alternatives to Russian oil. This will divert some...
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