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Global Electricity Demand Rose by 6% in 2021 – IEA

Last year, rebounding economies and extreme weather contributed to a 6% increase in worldwide energy consumption, the greatest percentage increase since the 2010 recovery from the 2008-2009 financial crisis, according...
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U.S & China Will be Top Global Exporter and Importer of LNG in 2022

According to a recent report from IHS Markit, the United States and China will be the main export and import markets for liquefied natural gas (LNG) in 2022, respectively. Nigeria...
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AEICORP to Raise $500M in 2022; To Fully Start Operation in 2022 – Zakaria Dosso

The Managing Director of The Africa Energy Investment Corporation (AEICORP), Zakaria Dosso, spoke in the January issue of PAV Magazine about the founding of AEICORP, the challenges faced at its...
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Eni Receives Five New Exploration Licenses On- and Offshore Egypt

Eni has received five new exploration licences in Egypt's Eastern Mediterranean Sea (Blocks EGY-MED-E5 and EGY-MED-EG6), Gulf of Suez (EGY-GOS-13), and Western Desert (Blocks EGY-WD-7 and EGY-WD-9). In a statement,...
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EIA Predicts Oil Prices Will Drop in 2022 and 2023

The US Energy Information Administration (EIA) warned in its January Short-Term Energy Outlook (STEO) that global inventory building owing to supply growth surpassing demand growth will push oil prices lower...
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Global Oil & Gas Investments to Increase by Over 4.3% to reach $628B in 2022 – Rystad Energy

The report pointed out that an “outstanding concern” in 2022 is execution challenges related to the pandemic and increased inflationary costs for steel and other input factors. “These are likely...
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Saudi Arabia’s Aramco Buys Stake in a Polish Refinery

Saudi Arabia has purchased a share in a Polish refinery to boost its downstream presence and crude consumers in Eastern Europe. Aramco has agreed to buy a 30% investment in...
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Egypt Awards Eight Natural Gas Licenses in First-Ever Auction

To develop natural gas exploration and production in Egypt, the Ministry of Petroleum and Mineral Resources has issued eight natural gas licences to Eni, BP, Apex International, Energy Egypt, United...
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Bad Weather Forces Libya to Shut Down Four Oil Ports as Exports Slump

Just as Libya's oil production began to recover, bad weather forced the closure of four (4) oil export terminals in the country's east, indicating that crude exports will be significantly...
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Mexican Government Reduces Pemex Debt By $3.2 Billion

According to Bloomberg, a refinancing operation has decreased the debt of Mexico's state-owned oil company Pemex by up to $3.2 billion. The process involved replacing debt that was about to...
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