(World Bank, 21.Jul.2020) — Estimates from satellite data show global gas flaring increased to levels not seen in more than a decade, to 150 billion cubic meters (bcm), equivalent to the total annual gas consumption of Sub-Saharan Africa. The 3% rise, from 145 billion cubic meters (bcm) in 2018 to […]
Tag: Africa
T&T Energy Minister: Positive Growth Forecast For NatGas Markets
(Loop News, 14.Nov.2018) — Minister of Energy and Energy Industries and President of the Gas Exporting Countries Forum, Franklin Khan, said the natural gas industry is forecast to grow within the coming year, a good indicator for Trinidad and Tobago. Speaking at a media briefing after the second session of […]
The Next Offshore Boom: Is Senegal The New Guyana?
(Oilprice.com, Viktor Katona, 12.Nov.2018) — I know what you think – such a headline is quite reckless given that Guyana has not produced any oil so far and it is not until 2020 that we can actually start talking about a Guyanese oil miracle. Still, Guyana is one of the […]
Petrobras Announces $1.4bn Sale Of African Oil Business
(Ft.com, Andres Schipani, Neil Hume, 31.Oct.2018) — Brazil’s state-controlled oil company Petrobras agreed to sell its 50 per cent stake in an African enterprise to a consortium led by trader Vitol, the world’s biggest independent energy trader. Vitol and its partners, Africa Oil Corp and Delonex Energy, will pay $1.4bn […]
Eco (Atlantic) Seeks New Partner In Namibia As Tullow Focuses On Guyana
(ProactiveInvestor, 26.Oct.2018) — Eco (Atlantic) Oil & Gas Ltd has started to look for a new partner for the Cooper Block in Namibia after Tullow Oil pulled out. Tullow will now transfer its 25% working interest in Cooper to Eco, which own 57.5% stake as a result. “With more than […]
Trinidad Imports 40% of Oil from Russia
(Energy Analytics Institute, Ian Silverman, 27.Aug.2018) —Trinidad and Tobago is relying on Russia as its main source of imported crude oil. Between January and June 2018, the small twin-island country imported over 15 million barrels of crude oil from the [Petrotrin] refinery. Of that, 40% of the crude oil imports […]
OPEC MOMR Shows Further Oil Declines in Venezuela
(Energy Analytics Institute, Piero Stewart, 14.Aug.2018) – Venezuela’s crude oil production declines seem unstoppable. Venezuela’s crude oil production fell to 1.278 million barrels per day (MMb/d) in July 2018 compared to 1.325 MMb/d in June 2018 based on secondary sources, reported OPEC in its August Monthly Oil Market Report (MOMR). […]
Ecopetrol Names New Corporate VP of Finance
(Ecopetrol, 8.Aug.2018) – Ecopetrol S.A. announced appointment of Jaime Caballero Uribe as the new Corporate Vice President of Finance (Chief Financial Officer). The appointment is effective as of August 7, 2018. Mr. Caballero has more than 20 years of experience with companies in the oil and gas sector, both in […]
Venezuela’s Inflation to Reach 1 Million Percent
(Bloomberg, Andrew Rosati, 23.Jul.2018) – Venezuela’s inflation will skyrocket to 1 million percent by the end of the year as the government continues to print money to cover a growing budget hole, the International Monetary Fund predicted on Monday. The crisis is comparable to that of Germany in 1923 or […]
Venezuela Facing ‘Economic Collapse’, IMF Warns
(AFP, 18.Jul.2018) – Venezuela is in a state of “economic collapse” with hyperinflation not seen since the middle of the last century, the International Monetary Fund said Monday. Despite higher oil prices that are benefiting most exporting nations, the IMF sees a worsening contraction of the economy, which in April […]
Could Guyana’s Oil Fortunes Curse Country?
(Energy Analytics Institute, Pietro D. Pitts, 8.Jul.2018) – Recent success in Guyana’s oil sector could be a wolf in sheep’s clothing. Guyana doesn’t yet produce oil but in coming years its oil output is expected to surpass that of Peru and Trinidad and Tobago and could approach that of Ecuador, […]
Ghana Trade Mission Breakfast: Claxton Bay, Trinidad
(The Energy Chamber of Trinidad and Tobago, 19.Apr.2018) – The Sekondi Takoradi Chamber of Industry and Commerce and the Ghana National Petroleum Corporation (GNPC) will be part of an incoming Trade Mission to Trinidad from April 23rd – 28th, 2018. The Energy Chamber of Trinidad and Tobago is organising a […]