Crude oil


All posts for Crude oil

African Energy Chamber to Outline Post-COVID-19 African Energy Roadmap in New Book

The African Energy Chamber will launch the book “African Energy Road to Recovery:  How the African energy industry can reshape itself for a post-COVID comeback” in December. The book will contain data, insight, analysis and interviews, and will assess risks, opportunities and what is ahead ...

Aydanur Akkurt - Africa Oil & Power


Posted 3 days agoPress > African Energy ChamberAfricaAfrican Energy +30

Angola: Supporting Cross-Border Cooperation

*This article will be published in the upcoming AES: Angola COVID-19 Impact ReportAs a response to the reduction in oil demand amid global lockdowns, the Organization of Petroleum Exporting Countries (OPEC) and the G20 met in March, seeking to reduce the global supply of petroleum among top produc ...

Aydanur Akkurt - Africa Oil & Power


Posted 4 days agoLink > AngolaLuandaAngola Oil & Gas +27

Nigeria: Africa’s Leading Producer

Producing 2.1 million barrels per day (bpd), Nigeria serves as Africa's largest oil and gas producer, although production is currently limited to 1.4 million bpd by OPEC-led quotas. In a bid to develop untapped resources and monetize existing resources, 2020 has seen the launch of a marginal fiel ...

Aydanur Akkurt - Africa Oil & Power


Posted 4 days agoLink > NigeriaNigeria Oil Gas & Power 2021NOGP2021 +29

Webinar: LEVERAGING THE POWER OF TECHNOLOGY FOR OILFIELD OPTIMIZATION

Digitalization and optimization of oilfield assets have emerged as principal cost-cutting mechanisms in the wake of our new era, as oil and gas companies continue to face threats to efficiency, sustainability and profitability. Well integrity, enhanced oil recovery, manufacturing execution systems, ...

Aydanur Akkurt - Africa Oil & Power


    ZA 29 Sep 2020


Posted 5 days agoEvent > AOPAOP Webinarwebinar +27

Webinar: LOCAL CONTENT IN MOZAMBIQUE: OPPORTUNITIES FOR CAPACITY BUILDING UNDER COVID-19 & PREPARING THE WORKFORCE FOR 2021

COVID-19 has unsettled the oil and gas market throughout the continent, delaying projects and putting up roadblocks for the development of new industry. But with travel limited due to COVID-19, Mozambique has a new opportunity to fill a workforce gap posed by COVID-19 restrictions. What training an ...

Aydanur Akkurt - Africa Oil & Power


Maputo   Maputo   MZ 06 Oct 2020


Posted 5 days agoEvent > Local ContentMozambiqueAOP Webinar +16

Fossil fuels account for the largest share of U.S. energy production and consumption

Aramco is still 98% owned by the Saudi government, and the federal coffers, which run everything from the national airline to plans to open up for official tourism are dependent on the dividends that Aramco pays. With dry season in the oil and gas world setting in, some of these projects must now ...

Hui Shan


Posted 5 days agoLink > ProductionsupplyConsumption +12

Nigerian Independents Tackle Market Volatility

Since the Federal Government of Nigeria enacted its Local Content Law in 2010, several indigenous operators – Atlas Petroleum International and Oranto Petroleum, Shoreline, Aiteo Group, Eroton Exploration & Production Company and Seplat Petroleum Development Company, among others – have made subst ...

Aydanur Akkurt - Africa Oil & Power


Posted 6 days agoLink > NigeriaNigeria Oil Gas & Power 2021NOGP2021 +16

Downstream as the Solution

*This article will be published in the upcoming AES: Angola COVID-19 Impact ReportThe Angolan government has launched an ambitious strategy to develop its refining capabilities and reduce its reliance upon and associated costs with imported fuel volumes, aiming to increase capacity from 80,000 bpd ...

Aydanur Akkurt - Africa Oil & Power


Posted 6 days agoLink > AngolaAngola Oil & GasRefining +16

Driving Sustainable Development

In August 2019, the final proposal of Mozambique's local content law was approved, following five years of discussions between the government and private sector players. Local participation is defined as holding up to 15% of the share capital of either an enterprise to be created between foreign ...

Aydanur Akkurt - Africa Oil & Power


Posted 6 days agoLink > MozambiqueMozambique Gas & PowerMGP2021 +10

Currency appreciation makes crude oil less expensive for some oil importers

Just right now, Total has readied the Odfjell DeepSea Stavanger drill rig in the turbulent waters off South Africa, ready to spud a new wildcat in the offshore Block 11B/12B. And if Luiperd-1 meets expectations, it will be more than just success for Total, it will turn South Africa's upstream jou ...

Hui Shan


Posted 1 month agoLink > exportsImportsBrent +6

Open market oil sales is the new normal in South Sudan

The Republic of South Sudan is in a period of transition – both politically and economically. The Transitional Government of National Unity is in place, and agreement was recently reached over governance of the country's states. The Ministry of Petroleum is also driving change, implementing a ...

Claudia Padayachy


Posted 2 months agoOpinion > South SudanOilpetroleum +4

TODAY IN ENERGY: Drop in petroleum demand led to rise in crude oil inventories and low refinery utilization

Either way, this has thrown a spanner in the works of the giant, multi-billion oil and gas projects that were announced over the past two years as the energy world began to wake up from its post-2015 price crash investment hibernation. Further impairments were made in April 2020 when the Q1 finan ...

Hui Shan


Posted 2 months agoLink > ConsumptionDemandLiquid Fuels +6

North American crude oil prices are closely, but not perfectly, connected

A perfect storm of events – the Covid-19 lockdowns, the resulting effect on demand, an ongoing oil supply glut, a worrying shortage of storage space and (crucially) the expiry of the NYMEX WTI benchmark contract for May, resulted in US crude oil prices falling as low as -US$37/b. This was seen as ...

Hui Shan


Posted 3 months agoLink > pricesLiquid FuelsCrude oil +7

EIA raises crude oil price outlook slightly as announced supply cuts lead to high inventory draws in 2021

EIA assumes OPEC members will mostly adhere to announced cuts during the first two months of the agreement (May and June) and that production compliance will relax later in the forecast period as stated production cuts are reduced and global oil demand begins growing. From that point, EIA expects ...

Hui Shan


Posted 4 months agoLink > Crude oilLiquid Fuelsnon Opec +7

U.S. total energy exports exceed imports in 2019 for the first time in 67 years

And now, unprecedented oil prices, as the WTI crude price marker slipped into negative territory for the first time ever. This had the same effect, though different contributing factors  in 2019, when WTI prices were depressed because demand was high but pipeline capacity was insufficient to carr ...

Hui Shan


Posted 4 months agoLink > Coalnatural gasexports +5