East & South Africa News


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Middle East Tensions Lift Oil Prices
Oil prices edged higher on renewed tensions between Iran and Israel, though skepticism about supply disruptions kept gains limited as traders remain cautious.
3:51 PM EST | November 01, 2024
ExxonMobil, Chevron Beat Expectations on Higher Permian Production Share your comments
ExxonMobil Chevron beat analysts' estimates as rising oil production from the Permian Basin helped offset weaker crude prices.
11:00 AM EST | November 01, 2024
Aramco Inks Energy Cooperation Agreement with Petrovietnam Share your comments
'This agreement lays the foundation for potential collaboration across the hydrocarbon value chain'.
8:36 AM EST | November 01, 2024
KMG, CNOOC Partner for Exploration Project in Kazakhstan Share your comments
According to a preliminary assessment made by KMG, the mineral site's oil reserves may be over 185 million tons.
8:00 AM EST | November 01, 2024
US DOE Awards $473.6 Million More for Grid Resilience Projects Share your comments
The latest round of funding brings the total DOE investment in grid resilience to nearly $1.3 billion since fiscal year 2022.
7:27 AM EST | November 01, 2024
Biden Administration Endorses Approval of Texas Oil Port Share your comments
The EPA gave its blessing for a proposed Texas oil port capable of exporting one million barrels of oil a day.
7:24 AM EST | November 01, 2024
Coterra Wins Long-Term Gas Orders from Traders Vitol, Centrica Share your comments
The U.S. producer signed separate agreements to supply Centrica and Vitol with 100,000 MMBtud of natural gas.
6:50 AM EST | November 01, 2024
TotalEnergies Takes Hit from Weaker Refining Margins, Maintains Dividend Share your comments
Earnings per share missed the Zacks Consensus Estimate by 5.4 percent.
5:39 AM EST | November 01, 2024
EU Reports Record Drop in Emissions as RE Surges Share your comments
Compared to 1990, the EU's emissions in 2023 fell 37 percent despite GDP growing 68 percent over the three decades, 'showing the continued decoupling between emissions and economic growth'.
2:36 AM EST | November 01, 2024
ExxonMobil Agrees to Sell Argentina Shale Oil Assets to Pluspetrol Share your comments
Exxon is exiting the Vaca Muerta to focus efforts elsewhere, including Guyana.
2:30 AM EST | November 01, 2024
Oil Jumps as Iran Plans Retaliation
Oil prices surged as reports of Iran planning a retaliatory strike on Israel reignited fears of supply disruptions in the Middle East.
4:49 PM EST | October 31, 2024
OneSubsea Secures Job in BP's Gulf of Mexico Development Share your comments
OneSubsea secured a contract from BP for a subsea boosting system in the greenfield development of the Kaskida project in the deepwater U.S. Gulf of Mexico.
1:30 PM EST | October 31, 2024
BMI Flags Philippines Upstream Gas Dilemma Share your comments
Analysts at BMI, a Fitch Solutions company, flagged an 'upstream gas dilemma' for the Philippines.
12:13 PM EST | October 31, 2024
Shell Maintains Buybacks as Gas Growth Offsets Weaker Oil Share your comments
Shell Plc kept up the pace of its share buybacks.
11:49 AM EST | October 31, 2024
Chevron Takes Over Uruguay Block in Area Deemed Conjugate of Orange Basin Share your comments
Chevron acquired a 60 percent operating stake in Uruguay's offshore AREA OFF-1 block, located in an area deemed to have similar geophysical properties with the Orange Basin in Africa.
10:12 AM EST | October 31, 2024
Hancock, MinRes Strike $742 Million Deal for Gas Exploration in Australia Share your comments
MinRes is selling to Hancock Prospecting Pty. Ltd. two exploration permits that include what MinRes says is one of the biggest onshore gas discoveries in Western Australia.
10:00 AM EST | October 31, 2024
Oil Futures Benefit from Stronger than Expected USA Fuel Demand Share your comments
Maria Agustina Patti, a Financial Markets Strategist Consultant to Exness, said oil futures 'stabilized to a certain extent'.
8:09 AM EST | October 31, 2024
Singapore LNG Terminal Moves Into Execution Phase Share your comments
The FSRU is expected to be operational by the end of the decade.
8:00 AM EST | October 31, 2024
Oil Price Risk Tilted to Upside After USA Election, SC Analysts Outline Share your comments
'We think the two months before the presidential inauguration on 20 January 2025 potentially represents a window for an intensification of actions against Iran', Standard Chartered analysts said.
7:05 AM EST | October 31, 2024
Central, SE European TSOs Ink Deal to Harmonize Gas Quality Standards Share your comments
Gas transmission operators in Central and Southeastern Europe signed an agreement to work on harmonizing supply quality requirements as they prepare for the gradual abandonment of Russian gas, Gas TSO of Ukraine said.
7:01 AM EST | October 31, 2024
UK Goes No Further in Raising Oil and Gas Taxes After Outcry Share your comments
The UK government went no further in toughening up the tax regime for North Sea oil and gas producers than measures already announced.
5:34 AM EST | October 31, 2024
CNOOC Posts Record Oil and Gas Production Share your comments
CNOOC Ltd. produced 542.1 MMboe in the first nine months, amid a flurry of startups in the South China Sea.
4:11 AM EST | October 31, 2024
TotalEnergies Strikes More Gas Condensate in Danish North Sea Share your comments
'This additional discovery at the Harald field will contribute to the Danish energy supply by boosting our existing production in the North Sea in line with the Danish National Compromise'.
2:31 AM EST | October 31, 2024
Objections to Shell Asset Sale in Nigeria Could Be Resolved Soon: Regulator Share your comments
Nigeria's upstream oil regulator found some issues with Shell's proposed sale of its onshore assets to a consortium of local companies but they should be resolved soon, said President Tinubu's special adviser on energy.
2:30 AM EST | October 31, 2024
Europa Oil Sees Loss Deepen as UK Regulatory Environment Derails Plans Share your comments
Europa reported a loss of $8.78 million for the 12 months to July as it recognized $ 6.44 million in exploration impairment.
1:42 AM EST | October 31, 2024
Oil Prices Rebound
Oil prices rebounded amid Middle East tensions and a decline in US crude stockpiles, with WTI climbing 2.1% and Brent 2% as traders anticipate OPEC+ production decisions.
3:56 PM EST | October 30, 2024
EIA Fuel Update Shows Declining Price Trend for Gasoline Share your comments
The U.S. Energy Information Administration's latest fuel update showed a declining price trend for gasoline.
12:15 PM EST | October 30, 2024
Phillips 66 Expects to Surpass $3B Asset Sale Target Share your comments
The $3 billion target is a floor, not a ceiling, according to Phillips 66 executives.
11:20 AM EST | October 30, 2024
European Gas Prices Slip as Goldman Warns of Bearish Risks Share your comments
European natural gas fell as Goldman Sachs Group Inc. warned of downside risks to prices.
10:00 AM EST | October 30, 2024
Entire Energy Complex Was Down, Strategist Highlights Share your comments
'This seems to be one of those times that the whole energy group is trading together', the strategist told Rigzone.
8:05 AM EST | October 30, 2024
Karoon Ups Production in Bauna Project in Brazil Share your comments
The average production for the quarter was 21,655 barrels of oil per day (bopd).
8:00 AM EST | October 30, 2024
Epsilon Energy Forms JV Targeting Alberta Assets Share your comments
Epsilon signed agreements with a 'leading Calgary-based private operator' to form the JV.
8:00 AM EST | October 30, 2024
BP Becomes Sole Owner of Lightsource BP Share your comments
'Lightsource bp expands bp's presence globally in the onshore renewable energy industry, with a 62GW development pipeline and operations spanning 19 global markets'.
6:58 AM EST | October 30, 2024
Macquarie Strategists Forecast USA Crude Inventory Build Share your comments
Macquarie strategists are forecasting that U.S. crude inventories will be up for the week ending October 25.
6:55 AM EST | October 30, 2024
European Power Transmitters Raise Export Capacity for Ukraine, Moldova Share your comments
ENTSOE increased the export capacity for Ukraine and Moldova to 2,100 MW for the winter.
4:54 AM EST | October 30, 2024
Petronas Introduces New Contracting System Share your comments
Petronas introduced what it calls an Integrated Well Continuity Services contract.
3:11 AM EST | October 30, 2024
Kinetiko Spuds Second Well in Production Test Program in South Africa Share your comments
'Based on prior reserves calculations, a flow rate of 50,000 SCF/day has been assumed, with the aim of exceeding this threshold and significantly improving the project's commercial metrics'.
2:54 AM EST | October 30, 2024
TotalEnergies, Partners Ink Initial Land Contract for Morocco RE Project Share your comments
The Atlantic coast project 'will power the production of green hydrogen through the electrolysis of desalinated seawater and its transformation into 200,000 tons per year of green ammonia for the European market'.
2:38 AM EST | October 30, 2024
Pemex Losses Deepen in Third Quarter Share your comments
The results are the first under the leadership of CEO Victor Rodriguez, a former academic appointed by President Claudia Sheinbaum to rescue the world's most-indebted major oil producer.
2:30 AM EST | October 30, 2024
Oil Traders Split on Whether OPEC+ Will Hike Supply in December Share your comments
Oil traders are divided over whether OPEC+ will proceed with plans to restore production in December.
4:00 PM EST | October 29, 2024
Oil Slides with Fundamentals Now at Center Stage
Oil prices fell amid signs of eased Middle East tensions, shifting focus to demand and upcoming OPEC+ production decisions.
3:46 PM EST | October 29, 2024
US DOE Set to Deploy $28 Million for Clean Energy Workforce Training Share your comments
Fifteen State Energy Offices and the American Samoa Territorial Energy Office have been selected to enter negotiations for $27.98 million from the Energy Auditor Training grant funds.
1:30 PM EST | October 29, 2024
Golden Pass LNG Gets 3-Year Deadline Extension to Complete Construction Share your comments
The FERC allowed the ExxonMobil-QatarEnergy LNG export project in Texas to be delayed further to 2029, after the disgruntled main contractor gave up the project.
11:13 AM EST | October 29, 2024
Analysts Explain USA Natural Gas Price Drop Share your comments
Natural gas prices seemed to fall in sympathy with oil, one analyst told Rigzone.
11:13 AM EST | October 29, 2024
BP to Review Buyback Next Year as Debt Pile Grows Amid Weak Oil Share your comments
BP Plc raised the possibility that its share buybacks could slow next year.
10:00 AM EST | October 29, 2024
Var Energi Makes FID on Balder Phase V in North Sea Share your comments
The project aims to develop 33 million barrels of oil equivalent (MMboe) of gross proved plus probable (2P) reserves.
8:00 AM EST | October 29, 2024
Crude Prices Notched Biggest 1 Day Declines in Over 2 Years on Monday Share your comments
'The geopolitical situation in the Middle East appears to have cooled substantially', one analyst said.
7:39 AM EST | October 29, 2024
Saipem Logs 21 Percent Increase in Nine-Month Revenue Share your comments
'The continued improvements of the economic and financial results confirm the strong market demand'.
6:43 AM EST | October 29, 2024
OEUK Urges Chancellor to Back UK Offshore Energy in Autumn Statement Share your comments
'Unlocking economic growth is the solution, and building on industrial strengths is key to our path forward', OEUK's CEO stated.
5:59 AM EST | October 29, 2024
Adani Total Gas Sees 12 Percent Year-on-Year Increase in Quarterly Revenue Share your comments
The growth was driven by an increase in CNG sales volumes.
5:02 AM EST | October 29, 2024
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