As Petrobras shrinks its global E&P activities with farm-outs and asset sales, other oil majors such as Total, Statoil and BP have extended their presence in the country. But smaller operators are also looking for E&P investment opportunities in Latin America’s largest oil producing country.
The eagerly anticipated African Energy Bank will launch by June 30 after selecting a host nation this month and hopes to raise an initial $5 billion from African signatories, international financiers and Middle Eastern states, its head told S&P Global Commodity Insights.
UK-based Challenger Energy finalized the contract for its second offshore block in Uruguay on Monday, as hopes of oil and natural gas production in the South American country grow.
The discovery was made by Saudi Aramco, a leading company in the production of energy and chemical products. This company is already recognized for locating new gas reserves in times of national decline.
Oil dipped as signs of stubborn US inflation whipsawed wider markets and OPEC said its latest supply cuts stalled.
The merged entity between Vitol Emerald Bidco and South Africa’s biggest filling station operator, Engen, will affect production and supply of refined petroleum products from local refineries, the Competition Commission said at a hearing of the Competition Tribunal yesterday.
It is always a sight for sore eyes on the offshore assets of Tullow Ghana, in West Africa.
Opec has once again kept unchanged its bullish forecast for oil demand growth this year, even while others including Saudi state-controlled Aramco continue to see much lower levels of growth.
Angola’s premier event for the oil and gas sector – the Angola Oil&Gas (AOG) conference and exhibition (https://apo-opa.co/4945xwG) – unites the country’s government and energy companies with global operators and investors.
Oil prices rose in Tuesday trade as geopolitical tensions in the Middle East continued to spur concern, but gains were limited on bearish demand sentiment and as the market waited for monthly reports from oil agencies.