Russia’s New Gas Deals With Iran Are A Threat To The West
Gazprom’s MoU with the Iranian NIOC marks the next major step in oil and gas cooperation between the two countries.Gazprom has pledged its full assistance to the NIOC in the US$10 billion development of the Kish and North Pars gas fields.Gazprom will…
Energy Spat Between Mexico And The U.S. Escalates
Mexico hopes the talks initiated by the U.S. under the United States-Mexico-Canada Agreement (USMCA) about Mexico’s prioritization of state energy firms over private U.S. companies would reach a “mutually satisfactory solution,” Mexican DeputyEcono…
IEA Chief: Europe Must Cut Gas Usage 20% To Survive Winter
After calling on all member states toreduce gas consumption by 15% in the face of the threat of a complete Russian gas cutoff, the IEA says the European Union will need to cut even more in order to get through the winter. "Even if there is no sin…
Libya To Resume Oil Exports After Lifting Force Majeure
Libya will begin loading oil for export on July 20 after the force majeure was declared lifted following an intense battle for control of the National Oil Company (NOC) last week. The Government of National Unity (GNU), led by interim prime minister A…
Algeria to Sign $4 Billion Gas Supply Deal with Italy
(Reuters) — Algeria will supply "very big volumes of gas" to Italy through a $4 billion deal, President Abdulmadjid Tebboune said on Monday, hailing a "strategic partnership" with Rome during a visit by Italian Prime Minister Mari…
US$6bn Water Investment Programme to transform Zambia by 2030
This week the Zambian Government launches its game-changing US$6billion Zambia Water Investment Programme during the African Union mid-year Summit in Lusaka.TheProgramme is part of the Continental Africa Water Investment Programme (AIP) that was adopt…
Macron Calls For Public Lights To Be Turned Off Amid Russian Gas Threat
The French should brace for a complete cutoff of Russian natural gas, French President Emmanuel Macronsaid Thursday, Bastille Day, calling on citizens to turn public lights off at night and embrace what he referred to as energy “sobriety”, the Assoc…
IEA Says Oil Prices Threaten Economy
Oil prices pose a high risk to the global economic recovery, with signs that fuel costs are starting to “take their toll” on demand growth, the International Energy Agency said.The Paris-based adviser trimmed forecasts for oil consumption this year …
Trinidad still banking on oil and gas
PORT OF SPAIN – The Trinidad and Tobago Energy and Energy Industries Minister, Stuart Young, on Monday said he supports reports that despite the trend to renewables, there is agreement that oil and gas will continue to be important primary fuels for …
Argentina’s Gas Pipeline Project Receives Backing, Enters Construction Phase
(Reuters) — Argentina will take a key step on Friday in the construction of a major new natural gas pipeline for its huge Vaca Muerta shale formation, vital to helping the South American country reverse a deep energy deficit that is costing it billio…
China Port Group Starts Pumping Crude Oil into New 230-Mile Pipeline
(Reuters) — Chinas Yantai Port Group started on Monday pumping oil into a newly expanded crude oil pipeline thatconnects the port of Yantai to a group of independent refineries in thecountrys refining hub Shandong, state media reported on Tuesday.The…
Petrofac continues growth in Africa with Tullow’s Jubilee award
Petrofac, a leading provider of services to the global energy industry, sees further growth in Africa having been selected by Tullow Oil to provide operations services for their world-class Jubilee Development in Ghana, West Africa.Petrofac’srole on …
NextDecade Inks 20-Year LNG Supply Deal with Guangdong Energy Group
NextDecade Corp. has entered a 20-year sale and purchase agreement (SPA) with Guangdong Energy Group for the supply of LNG from NextDecade’s Rio Grande LNG export project (RGLNG) in Brownsville, Texas.Under the SPA, Guangdong Energy Group will purcha…
IEA: High prices, uncertainty will slow growth in gas demand
High prices for natural gas and supply fears due to the situation in Ukraine will slow the growth in demand for the fossil fuel in the coming years, according to the International Energy Agency (IEA).In a report published Tuesday, the Paris-based agen…
Oil rises as tight supply trumps recession fears
Oil rose today as supply concerns driven by lower OPEC output, unrestin Libya and sanctions on Russia outweighed fears of demand-sapping global recession.Euro zone inflation hit yet another record high in June, strengthening the case for rapid Europea…
Nigeria Takes $1 Billion Hit in Q1 Revenue Due to Crude Oil Theft
(Reuters) — Nigeria lost $1 billion in revenue during the first quarter of this year due to crude oil theft, the petroleum regulator said on Friday, warning the practice was a threat to the economy of Africas topproducer.Nigeria loses millions of bar…