(World Oil) – I’ve said for years that African energy is a vital investment. Backers clearly agree — to the tune of USD47 billion. That’s how much capital expenditure (capex) 2024 saw in African oil and gas, showing a 23% increase from last year. Better yet, we expect growth to continue through the end of the decade. This capex activity
Nasdaq The Brent crude market structure and some physical markets in Europe and Africa are reflecting tighter supply resulting partly from concern about shipping delays due to vessels avoiding the Red Sea, according to traders, LSEG data and analysts. The disruptions have combined with other factors such as outages and rising Chinese demand to increase competition for crude supply that
World Oil More than 100 oil and gas projects should commence operations in Nigeria during the next four years, accounting for more than 24% of the predicted total projects starts during that time, predicts GlobalData, a data and analytics company. GlobalData’s report, ‘Africa Oil and Gas Projects Analytics and Forecast by Project Type, Sector, Countries, Development Stage, Capacity and Cost,
By Tyler Losier, Energy Reporter, Oil & Gas 360 Qatar Petroleum signs agreement to farm Total-held exploration acreage in Namibia, Guyana and Kenya Qatar Petroleum (QP), Qatar’s state-owned energy company, has signed an agreement with French supermajor Total SA (stock ticker: TOT), under which the company will farm into Total-held exploration acreage in Namibia, Guyana and Kenya. With regards to
From The Houston Chronicle Houston oilfield service company Halliburton has landed nine contracts to drill and complete a series of wells off the coast in West Africa. Australian exploration and production company Woodside Energy awarded the contracts to Halliburton as part of the first phase of developing the SNE Field off the coast of Senegal. Financial terms have not been
From Reuters Anadarko Petroleum Corp (APC.N), in its last earnings report before shareholders vote on its sale to Occidental Petroleum (OXY.N), on Friday reported a quarterly profit that topped analysts’ estimates, as higher production offset lower prices for its oil. It reported a net loss on a $1 billion breakup fee paid to Chevron Corp (CVX.N). Anadarko accepted a $38
From E&E News The United States is rapidly increasing its exports of liquefied natural gas. But it isn’t the only nation doing so or that has plans to do so. The addition of the Cove Point LNG plant in Maryland brings the number of major LNG export centers in the U.S. outside Alaska to two. Sabine Pass in Louisiana became
Halliburton Company (ticker: HAL) announced a loss from continuing operations of $805 million, or ($0.92) per diluted share, for the fourth quarter of 2017. Adjusted income from continuing operations for the fourth quarter of 2017, excluding charges related to United States tax reform and Venezuela receivables, was $462 million, or $0.53 per diluted share. This compares to income from continuing
Erin Energy: Oyo-9 to double company’s production by the end of 2017; subsequent exploration wells have potential to unlock a one billion barrel reserve opportunity At its recent 2017 The Oil & Gas Conference®, EnerCom’s Oil & Gas 360® conducted an exclusive video interview with Erin Energy (ticker: ERN) Chairman Frank Ingriselli. Erin Energy has acquired a strategic portfolio of
Shell starts third phase offshore Nigeria in Bonga field Royal Dutch Shell (ticker: RDSA) said today that it is starting the third phase of its Bonga field production offshore Nigeria. The third phase of the project will have a peak production of 50,000 barrels of oil equivalent, Shell said in an email. The floating production and storage facility serving Bonga’s
U.S. GOM share of global offshore rigs is falling The number of active offshore rigs in the Gulf of Mexico (GOM) has been steadily declining since 2000, according to a release from the Energy Information Administration (EIA). Over the past 15 years, the share of global offshore rigs in the GOM has declined from almost half of all active offshore
Renewables continue growth Renewable sources of energy continue to grow in importance both inside the U.S. and internationally. Solar energy makes up an important portion of the overall renewable energy mix, but the growth in total capacity has slowed along with installation. Historically, Europe has been a strong source of demand for solar energy, but its growth in solar energy
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