Top News

Liquefied natural gas (LNG) has become the world’s most sought-after emergency energy source following Russia’s invasion of Ukraine on 24 February 2022. This is because it is readily available in the spot markets and can be moved quickly to anywhere required, unlike gas or oil sent through pipelines. Unlike pipelined …

Saudi Aramco, Abu Dhabi National Oil Company (ADNOC) and commodities trader Trafigura are among the entities vying to acquire Shell’s service stations in South Africa, reported Bloomberg, citing sources. The sale, which could fetch close to $1bn, includes a network of 600 service stations and is part of Shell’s downstream …

OPEC+ has reached a deal to delay the unwinding of its production cuts that were planned to begin in October, anonymous OPEC+ sources told Bloomberg on Tuesday. The group now plans to ease output cuts beginning in December. OPEC+’s existing plan is to begin the careful process of rolling back …

South Sudan and China National Petroleum Corporation (CNPC) are discussing the idea to build an alternative oil pipeline from the landlocked African country to Djibouti via Ethiopia to boost export capabilities, the presidency has said. The statement came during the visit of South Sudan’s President Salva Kiir to China and …

Oil stocks went back in vogue two years ago with a vengeance as investors sought to get a piece of the record profits the industry reaped from the gas squeeze in Europe and the oil squeeze fears prompted by sanctions on Russia. Two years on, and that appeal is dissipating, …

Libya is yet to resume oil exports one week after the Haftar clan blocked production in a bid to gain leverage over a battle to control the Central Bank. Six engineers have told Pan-Arab newspaper Asharq-Al-Awsat that exports remained halted at the ports of Es Sidra, Ras Lanouf, Hariga, Zueitina, …

Fortescue is a large Australian mining group that has articulated ambitious plans to become a clean energy giant, especially in the hydrogen market, where it has begun several large international green projects and entered into numerous partnerships with other firms. Earlier this year, however, Fortescue began to exhibit signs of …

Russian natural gas pipeline exports to Europe declined by 2% in August compared to both August last year and July 2024, according to estimates by Reuters published on Monday. Last month, gas giant Gazprom’s average daily pipeline shipments to Europe fell to 89.6 million cubic meters, down by 2% month-on-month …

A report issued on Friday by S&P Global Commodity Insights revealed that oil companies operating in the Kurdistan region of Iraq increased their oil production despite the closure of the Iraq-Turkey oil pipeline. Financial statements of five oil firms operating in Iraqi Kurdistan demonstrate that their combined crude oil output …

The Dangote refinery in Nigeria, Africa’s biggest and newest crude processing facility, is set to soon begin production of gasoline, potentially upending global gasoline flows. For years, Nigeria has been importing the gasoline it consumes, but the newly operational refinery is poised to turn OPEC’s largest African crude oil producer …