Friday, November 15, 2019

Africa News

GasLog Sees Tighter LNG Shipping Market

Pic: GasLog

GasLog, an international owner, operator and manager of liquefied natural gas (LNG) carriers, is predicting a tighter LNG shipping market, as increasing United States LNG output combines with a seasonal uptick in demand for gas, resulting in…

U.S. Ingenuity Will Solve Climate Challenge: US DOE

AdobeStock / © xmentoys

The United States can tackle threats to the climate through technological advances as fossil fuels will remain a priority for the U.S. government and business, the assistant secretary for fossil energy said on Tuesday.The world should look to the United States' ability to reduce its emissions…

US Eyes India for Quantum Leap in LPG Exports

Pic: World Energy Consultants, LLC

Trump administration trade tariffs on China will need to cease and India will have to rely more on U.S. LPG supplies for the world to clear the quantum leap expected for U.S. LPG exports, says a study.The study of global seaborne LPG trade flows…

Brazil Federal Police Investigate Greek Ship in Connection with Oil Spill

Brazil's federal police on Friday announced a potential breakthrough in the investigation into the causes of a mysterious oil spill that has baffled authorities and Brazilians for about two months.Police said they were investigating a Greek-flagged ship allegedly responsible for the oil spill…

OP/ED: Offshore Wind

Nicolette Nye, Vice President of Communications and Member Development of the National Ocean Industries Association (NOIA) in Washington, DC.

Set to Soar, Taking Offshore Support Industry With it.Offshore energy development is opening a new front in the United States -- the Atlantic seaboard, with strong winds, a shallow continental shelf and a proximity to dense population centers is driving strong interest in offshore wind development.

Premier Oilfield Group Names Keenan CEO

Paddy Keenan is the new CEO of Premier Oilfield Group (Photo: Premier Oilfield Group)

Premier Oilfield Group has appointed Patrick “Paddy” Keenan as CEO, beginning October 28, 2019, the oilfield services company announced on Tuesday.Keenan brings to the role experience in both the US and international oil and gas industries,…

South Sudan to Offer Oil Blocks for 2020

© Wollwerth Imagery / Adobe Stock

South Sudan plans to offer 14 oil blocks to exploration companies in a licensing round by the first quarter 2020, its oil minister said on Tuesday, switching from its previous method of direct negotiations with explorers.The country gets almost all its revenue from oil and has boosted output…

Chevron Seeks to Shrink Nigerian Presence

© SUNDRY PHOTOGRAPHY / Adobe Stock

Chevron is seeking to sell several Nigerian oilfields as part of a global drive to reshape its portfolio as it focuses on growing its U.S.

Sasol's Annual Profit up 5%

South African petrochemicals group Sasol on Monday reported a 5% rise in annual profit and shelved its final dividend as the firm sought to strengthen its balance sheet in light of a challenging trading environment.Core headline earnings per share (HEPS)…

38 Oil and Gas Discoveries Made in Q3

Graph: GlobalData

GlobalData revealed that a total of 38 oil and gas discoveries were made globally in Q3 2019.South America and Europe led globally with the highest number of oil and gas discoveries during the third quarter (Q3) of 2019, with eight discoveries each during the quarter…

Bachmann, Stjernfeldt Join EVPE Board

Bettina Bachmann and Carl Stjernfeldt (Photos: EVPE)

EV Private Equity (EVPE) has appointed two new Advisory Board members, Bettina Bachmann and Carl Stjernfeldt, who bring decades of experience and venture capital knowledge to the firm.Bachmann spent 35 years at Shell, latterly as Vice President…

W. Africa Crude-Freight costs ease, especially for VLCCs

File Image (CREDIT: K LIne)

Freight rates eased further on Friday, especially for the largest oil tankers, promising some recovery for West African oil prices which had touched multi-year lows. VLCC freight costs eased more rapidly than smaller Suezmaxes, making it less advantageous to ship on the latter.

Angola Hopes Reforms Will Aid Oil Assets Sales

© silvapinto / Adobe Stock

Angola is hoping sweeping economic reforms will smooth an ambitious plan to sell key state assets, including stakes in oil company Sonangol, a share of Puma Energy and more than 100 other enterprises.Africa's second biggest oil exporter is in…

U.S. Shipping Sanctions Give Boost to EU Refiners

Exxon's Rotterdam Refinery (CREDIT EXXON)

U.S. sanctions imposed last month on subsidiaries of vast Chinese shipping fleet Cosco have given an unexpected boost to European refiners as less crude oil from the North Sea and West Africa heads east, traders and analysts said.Freight rates…

Mozambique LNG Project Moves Ahead

Image: Mozambique LNG project

With a second Final Investment Decision (FID) in just 2 years, Mozambique has officially positioned itself as a key player in the global gas and LNG market for years to come.The latest FID on the US$20 billion Mozambique LNG project, makes it…

Sinopec Weighs Output Cuts Due to Freight Rate Surge

© Igor Groshev / Adobe Stock

Asia's largest refiner, Sinopec, is weighing plans to cut oil imports in December and reduce output at its refineries after a surge in global tanker freight rates hit margins, four sources with knowledge of the matter said.The cost of shipping…

Small Scale FSRU: Think Smarter Not Bigger

© dmplot/Shutterstock

The global search for lower carbon forms of energy and demand for cost-effective ways to serve power demand in emerging markets and remote locations is driving interest in floating storage and regasification units (FSRU).FSRUs are a faster and…

Angola Seeks to Reduce Gas Flaring to Capture Revenue

© Igor Kardasov / Adobe Stock

Angola wants to cash in on the roughly 3 billion cubic feet per day of associated natural gas it produces, most of which is now flared, the petroleum minister said on Wednesday.The announcement of efforts to generate more revenues by reducing…

W. Africa Crude-Buyers Wary as Freight Rates Weigh

AdobeStock / © Jose Gill

Sellers returned to the window on Monday to entice buyers spooked by high freight rates due to Washington's sanctions on subsidiaries of a major Chinese shipping firm at the end of September.Long-haul rates to Asia have risen sharply prompting…

US DOJ Closes Eni Investigations

Eni CEO Claudio Descalzi (Photo: Eni)

The U.S. Justice Department has closed its investigations into alleged corruption by oil major Eni in Nigeria and Algeria without taking any action, the Italian energy group said on Tuesday.Eni, the biggest foreign oil and gas producer in Africa…