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OPEC+ to Increase Oil Output by 400,000 bpd from February – Reports

According to reports, the Organization of Petroleum Exporting Countries (OPEC) and its allies have agreed to proceed with plans to increase oil output by 400,000 barrels per day (bpd) as...
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World’s First 2000-metre Depth Ultra-Deepwater FLNG Arrives Rovuma Basin, Offshore Mozambique

The Coral-Sul Floating Liquefied Natural Gas (FLNG) vessel has arrived at Area 4 in the Rovuma Basin, offshore Mozambique, led by the Mozambique Rovuma Venture (MRV). The project is the...
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Algeria’s Sonatrach to Return to Libya After Eight years

Toufik Hakkar, the Chief Executive Officer of the Algerian National Oil Company (NOC), Sonatrach, stated on Monday, January 3rd, 2022, that the company is preparing to resume its suspended oil...
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Special Meeting of the OPEC Conference appoints next Secretary General

A Special Meeting of the Conference of the Organization of the Petroleum Exporting Countries (OPEC) was held via videoconference on Monday, 3 January 2022, under the Chairmanship of its President,...
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India Launches Its Biggest-Ever Oil Tender

India has issued a tender for 75 oil and gas blocks, the largest such tender in the country's history. According to the Indian Directorate General of Hydrocarbons, the tender is...
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TotalEnergies Completes $350 Million Sale of its Assets Offshore Gabon to Perenco

TotalEnergies, the French oil and gas giant, has announced the completion of a $350 million deal to sell its portfolio of seven mature, non-operated assets offshore Gabon, including the Cap...
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Oil Prices Rise on U.S. Record Oil Demand

On Thursday, the price of WTI crude rose nearly 2% after the EIA reported that implied petroleum product demand in the United States had reached new highs. For the week...
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Coal will Hit a Record-High in 2022 Despite Net-Zero Pledges – IEA

The economic recovery from the pandemic is driving up coal power generation this year, with global coal demand projected to hit a new high next year, undermining net-zero efforts, according...
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#MSGBC2021: “We Anticipate a Bright Future for Africa’s Oil Industry” – Barkindo

Day one of the MSGBC Oil, Gas & Power 2021 Conference and Exhibition featured an opening keynote address by OPEC Secretary General, H.E. Mohammed Barkindo, who spoke on the outlook...
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India Seeks $1.5B to Expand its Oil Caves

India is looking for $1.5 billion in investments from global oil producers and traders to help it develop additional emergency crude stockpiles that will operate as a hedge against price...
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