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Prices strengthen as gas field outage extended in the UK

Despite an oversupplied market, the British wholesale gas prices rose on Wednesday following an unplanned outage at a gas field which was extended. Recall that gas price was 0.59 pence higher at 32.10 p/therm months ago. National Grid data showed that the system is oversupplied with demand forecast at 144.8 million cubic metres (mcm) and supply…

Equinor acquires Argentinan offshore block

The nation of Equinor has acquired over 50% stake in Argentina’s largest offshore block, CAN 100, as part of its collaboration with  Argentina state-controlled oil firm YPF, the Norwegian company said on Wednesday.

ExxonMobil, ENI to open 4 exploratory wells in Mozambique

US oil and gas company, ExxonMobil and ENI have revealed that they plan to open four exploratory wells off the Zambezi Delta in Mozambique in 2020. According to Carlos Zacarias, chairperson of the National Petroleum Institute (INP), the wells which were among those covered by the fifth licensing round, launched by the government in 2014 will be…

China halts purchase of Venezuelan oil

China National Petroleum Corporation (CNPC) has negated plans to load about five million barrels of Venezuelan oil this month, due to strong sanctions from the United States according to Qatar News Agency.

Kenya to approve Qatar Petroleum’s deal on oil blocks- PS

The Principal Secretary in the State Department of Petroleum, Ministry of Energy and Petroleum Government of Kenya, Andrew Kamau has revealed that the country is ready to endorse the acquisition of offshore oil and gas exploration blocks by Qatar Petroleum, a state-owned company of the energy-rich Arab nation.
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