Oil and Gas Investment to Rise by 20% In 2022 – Rystad Energy
Global oil and gas investment is set to rise by 20% this year, according to Rystad Energy, with growth driven by soaring oil prices and large amounts of money flowing...
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Nigeria’s immediate past Minister of State Petroleum Resources and former NNPC GMD, Dr Ibe Kachikwu, Speaks at the Nigerian Promotion Day for Africa Oil Week 2022
The Chairman of AfricEnergy and ambassador for Africa Oil Week, His Excellency Dr Emmanuel Ibe Kachikwu, spoke at the Nigeria National Upstream Planning Meeting hosted by the AOW in anticipation...
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Saudi Arabia’s Oil Exports Increased by 123% In March
Saudi Arabia's oil exports increased by 123%, or $16.7 billion, in March 2022 as compared to the same month the previous year, according to the country's General Authority for Statistics....
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Energy Crisis Shouldn’t Lead to Over-Reliance on Fossil Fuels – IEA
The International Energy Agency (IEA) has dismissed the usefulness of fossil fuels for the umpteenth time. Fatih Birol, the IEA's Executive Director, stated that the present energy crisis and record...
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EU Approves Payment of Russian Gas in Rubles
The EU has put an end to the lingering ambiguity surrounding how EU members can pay for Russian gas without violating sanctions. Russia has demanded that countries pay for its...
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China Purchases 2 Million Barrels of Iranian Crude Despite Sanctions
China is likely to receive roughly two million barrels of Iranian oil, according to Reuters, citing Vortexa Analytics ship surveillance data, after easing off on Iranian oil in favour of...
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APPO SIGNS MOU WITH AFREXIMBANK FOR THE CREATION OF AN AFRICA ENERGY BANK
The African Petroleum Producers' Organization (APPO) has signed a Memorandum of Understanding (MOU) with the African Export–Import Bank (Afreximbank) for the creation of an Africa Energy Bank to address the...
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The World’s First-Ever Modular LNG FSRU is Ready for Deployment in Senegal
Senegal is getting set to deploy the world's first modular LNG Floating Storage and Regasification Unit (FSRU). The gas-to-power vessel is now ready to service Senegal's shore-based grids after being...
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Oil Prices Surge Past $113 As China Announces End of Lockdown
Oil prices have risen beyond $113 per barrel on expectations that China's lockdowns would expire soon and demand would not be harmed for long. The news that Shanghai was witnessing...
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OPEC Further Reduces its Forecast for Global Oil Demand Growth
OPEC lowered its projection for global economic growth in its Monthly Oil Market Report (MOMR) released on Thursday, saying oil demand will expand by 310,000 barrels per day (bpd), less...
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