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.
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.
ExxonMobil is moving ahead with the sales of its asset which is currently on the increase and it is also expected to take off oil and gas assets worth $25 billion in Africa, Asia, and Europe by 2021.
The Angola National Agency of Oil, Gas, and Biofuels (ANPG) has announced the names of companies that have submitted proposals for 10 fields in the Namibe and Benguela basins. The bid allows entering these frontier basins during its early stages of development.
The Abu Dhabi National Oil Company (ADNOC) said it has signed a partnership agreement with Honeywell, a US-based company to use their monitoring and analytics platforms to improve integrity across the company’s upstream and downstream operations.