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Egypt to build $8.5bn petrochemicals complex

Egypt’s Ministry of Petroleum and Mineral Resources has revealed plans to construct a new refinery and petrochemicals complex in the Al-Alamein region with investments of about $8.5 billion.

Non-OPEC supply growth may hinder OPEC plans

The International Energy Agency's June Oil Market Report has revealed that the Organization of Petroleum Exporting Countries (OPEC) will have a tough job keeping a balanced oil market next year. The agency believes that the tighter oil market of the OPEC countries in the second half of this year will result in a surge of oil production from…

Uganda is learning from Nigeria – PAU

The Manager, National Content, Petroleum Authority of Uganda (PAU), Mrs. Betty Namubiru, has revealed that her country is impressed with Nigeria’s oil and gas industry regulatory activities. She also shared that her country is taking lessons from the Department of Petroleum Resources (DPR). She said this at her agency’s visit to the DPR…

Glencore puts Chad oilfields up for sale

Mining and trading giant, Glencore has put its oilfields in Chad up for sale. This is coming after a retreat from its foray into oil production following asset write-downs over the past decade.

Investors advice subsidizing solar grids to power rural Africa

Twelve energy and impact investors have said that local renewable-energy grids can provide electric power to hundreds of millions of people in developing nations, especially in Africa, but will not attract enough financial backing unless they are subsidized. The group of investors urged donors to reduce financial risks for them. The director

Shell to invest $30bn deepwater exploration

Shell Petroleum has revealed plans to invest an average of $30 billion of cash capital expenditure, (capex) per year over 2021-2025, including a minor acquisition spend of up to $1 billion, with a ceiling of $32 billion a year to sustain deepwater production. The company also plans to maintain production levels from its conventional oil and gas

OPEC is monitoring oil market – Secretary-General

The Organization of the Petroleum Exporting Countries has revealed that it is monitoring the global oil market developments as it is aware of the underlying risks in the oil sector. In the past 30 months OPEC and its partners in the ‘Declaration of Cooperation’ have continually demonstrated its commitment to do whatever it takes to balance and

Europe saved $8 billion on gas bill in 2018 – IEA

The International Energy Agency has revealed that Europe has saved up to $8 billion because surging U.S. shale production and a shake-up in EU energy markets forced Russia to change its gas pricing mechanism. The Executive Director of the agency, Fatih Birol, while releasing the annual gas report said 2018 was a “golden year” for natural gas

Chevron awards new Angola contract to SPIE

A subsidiary of Chevron oil company, Cabinda Gulf Oil Company Limited, has awarded a contract to SPIE Oil & Gas Services to support operations on the 0 and 14 oil blocks located in the Angolan province of Cabinda at the extreme north of the country. The contracted services include the supervision and coordination of on-site teams enrolled
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