International

OPEC+ will change its output target and redistribute supply cuts among its members under pressure from Saudi Arabia, which has long overtaken the burden.

High price expectations from Angolan crude oil sellers seemed to cool down somewhat as some January loading cargo grades fell on Monday.

South Sudan has launched the first phase of a 100MW power plant that is expected to supply electricity to some parts of South Sudan. The President of South Sudan, Salva Kiir performed the inauguration ceremony and said that the power plant will help the country recover from its conflict that has lasted for five years.

The French oil and gas company Total and the South African Gigajoules group signed an agreement in Maputo on Wednesday for the import of the liquefied natural gas (LNG) that will be needed for a major gas-fired power station planned for Beluluane, on the outskirts of the Mozambican capital.

The increase in demand for fuel in China has influenced the manufacturing activities by 1%. This implies that OPEC may deepen output cuts at its meeting this week which might influence supply next year.

 Renewable energy firm, Royal Power and Energy Limited has encouraged that the Federal Government should invest more in the power sector so as to improve the quality of energy and power consumption in Nigeria.

According to Rystad Energy, the U.S. will become fully energy independent in few months, and it is estimated that by 2030, the country’s total primary energy production will improve faster than the primary energy demand by a huge 30 percent.

Malaysian oil company Petronas at a ceremony named its second Floating LNG unit “The PFLNG DUA”, the ceremony took place at Samsung Heavy Industries.

California oil major Chevron has entered into a deal to sell its natural gas assets in Colombia.

The African Development Bank (AfDB) has approved a $400 million long-term senior loan to support the construction of an integrated Liquefied Natural Gas (LNG) plant in Mozambique.