Category: Oil & Gas Industry
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Niger and Chad reportedly relaunch the Niger-Chad-Cameroon pipeline project and renew the gasoil supply contract
A Chadian delegation led by the Minister of Oil, Mines and Geology, Ndolenodji Alixe Naimbaye, has been on a working visit to Niger since Wednesday, media reported. This visit aims to relaunch the Niger-Chad-Cameroon pipeline project and renew the gasoil supply contract in Chad. The pipeline relaunch allows crude oil to be exported from Niger…
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South Africa is “not ashamed” of expanding trade with Russia, including the potential import of liquefied natural gas, the minister says
“I don’t think we are ashamed of importing gas from Russia. We are members of BRICS. We want to increase trade with Russia,” South African Minister of Mineral Resources and Energy Gwede Mantashe said on Thursday during budget hearings for his ministry in parliament. In December 2023, the South African government greenlit the African division…
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Shell joins chase for ‘big prize’ off South Africa’s west coast
Shell is seeking government permission to drill up to five ultra-deep offshore wells off the west coast of South Africa, a draft scoping report from independent environmental consultancy SLR showed on Tuesday. The oil major plans to drill exploration and appraisal wells in the area as energy companies shift their focus south of Namibia, where…
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ANGOLA ENVIRONMENTAL SERVICES JOINS ANGOLA OIL & GAS (AOG) 2024 AS SILVER SPONSOR
Angola plans to increase oil production to 1.1 million barrels per day (bpd) until 2027, thereafter maintaining output at this level. To support production growth, the country is promoting investment in exploration, with several drilling campaigns planned across both on- and offshore acreage. As upstream drilling progresses in Angola, waste management company Angola Environmental Services…
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Future of the Oil Tanker Industry: Trends and Forecasts
The demand for oil tankers may decrease as early as 2028 due to a gradual decline in demand for fossil fuels such as gasoline and diesel. Consequently, the global oil tanker construction industry will inevitably experience rebalancing, fleet adjustments, and order reductions. Currently, the tanker market is on the rise. Since 2023, it has been…
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TOTALENERGIES TO EXIT GAS FIELD OFFSHORE SOUTH AFRICA IN BLOW TO COUNTRY
TotalEnergies, a major French oil company, has notified South Africa’s petroleum regulator that it plans to exit the 11B/12B offshore gas field, indicating a major setback for the country’s energy industry. Although no formal request has been made yet, a Petroleum Agency SA source has verified the company’s intentions. TotalEnergies found the initial of two…
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Saudi Arabia: The World’s Fourth-Largest Oil Consumer
Saudi Arabia is the world’s fourth-largest oil consumer at 3.7 million b/d, following the U.S., China, and India. According to Bloomberg columnist Javier Blas, if Saudi Arabia does not reduce its oil consumption, the global peak in oil consumption may not occur by 2030. Blas highlights that the IEA forecasts a reduction in Saudi Arabia’s…
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Saudi Arabia has not renewed a 50-year pact with the U.S. to sell oil only for dollars
The famous petrodollar pact between Saudi Arabia and the US, signed in 1974, has come to an end. The so-called “Security Agreement” was signed by Washington and Riyadh on June 8, 1974. It provided for the establishment of two joint commissions – on economic cooperation and on Saudi Arabia’s military needs. The U.S. persuaded the…
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