All posts tagged "business"
-
President Trump bans importation of certain power equipment
Washington, DC – President Trump has issued an executive order on May 1 banning the “acquisition, importation, transfer, or installation” of transmission and electric generating...
-
OPEC Call for Papers on its Energy Review-Journal
The OPEC Energy Review is a quarterly energy research journal published by the OPEC Secretariat in Vienna. Each issue consists of a selection of original...
-
APICORP CONTRIBUTES $500 MILLION TO MEMBER COUNTRIES TO TACKLE COVID-19 PANDEMIC
Dammam, Saudi Arabia: The Arab Petroleum Investments Corporation (APICORP), a multilateral development financial institution, announced today that it has launched a USD 500 million countercyclical...
-
OPEC Says Oil Price May Rise To $40 In Second Half Of 2020
OPEC has predicted that oil prices are set to recover with the OPEC+ production cuts and gradual lifting of lockdowns around the world in the...
-
Maersk Drilling secures major offshore contract in Africa in Q1 2020
On 14 January, 2020, Maersk Drilling announced that it has been awarded contracts for a three-well exploration drilling project by Total E&P Angola Block 32,...
-
Fugro secures ROV and survey support contract with Global Marine Group
Fugro has secured a long-term contract for two remotely operated vehicles (ROVs) and a full survey positioning package on Global Marine Group’s (GMG’s) newly chartered...
-
Equatorial Guinea to launch new policies to support E&P companies
JOHANNESBURG, South Africa, — H.E. Gabriel Mbaga Obiang Lima shares Equatorial Guinea’s plans in working through the current state of global oil markets in a...
-
BP Confirms Plan To Complete Sale Of Alaska Business To Hilcorp By June 2020
BP has confirmed its commitment to completing the sale of its Alaska business to Hilcorp, first announced in August 2019. Subject to regulatory approvals, the parties expect...
-
African Energy Chamber calls on the Bank of Central African States to relax Forex Rules
New rules notably state that all foreign exchange transfers over $1,680 be vetted for approval by the bank MALABO, Equatorial Guinea, — The African Energy...
-
UBA Records Double-Digit Earnings Growth in Q1 2020
Pan African financial institution, United Bank for Africa Group (UBA) Plc has released its unaudited results for the first quarter ended March 31st, 2020, showing...
-
Uganda to welcome $20 billion FID as Total and Tullow finalizes Farm out Deal
By Ndubuisi Micheal Obineme The Government of Uganda has applauded the agreement reached between Total and Tullow, which will see Total acquire Tullow’s entire interests...
-
PTI Seek Support From IOCs To Boost Oil, Gas Skills in Nigeria
Petroleum Training Institute (PTI), Effurun, Delta State, is seeking support from International Oil Companies (IOCs) to boost skilled manpower in the oil and gas industry...
-
Should Africa consider the nuclear energy route?
…Nuclear energy is one of the more attractive options when considering a clean, reliable and cost-effective energy source JOHANNESBURG, South Africa, — Despite its advancements...
-
APICORP’s Callable Capital Increases from $1 billion to $8.5 billion
Callable capital increases from USD1 billion to USD8.5 billion Authorized capital also increased to USD20 billion and subscribed capital to USD10 billion USD500 million will...
-
Sebastian Wagner: OPEC still has an important role to play in the Global Oil Market
By Sebastian Wagner JOHANNESBURG, South Africa, — Scan Western news about OPEC from the last few years and a common observation tends to appear: OPEC...
-
Equatorial Guinea tackles COVID-19 with New Strategies, Continues Investment Plan for 2020
…The country is projected to be one of the hardest-hit African economies by the global pandemic According to Africa Oil & Power, Equatorial Guinea’s leading...
-
BP supercomputer to aid global healthcare researchers to halt COVID-19
HOUSTON – BP is joining forces with the U.S. government, leading universities and the world’s largest technology companies by providing access to its supercomputer to...
-
Shell unveils plan to be a net-zero company by 2050
Royal Dutch Shell has formally announced plans to reduce greenhouse gas emissions to net-zero by 2050. In an update to investors, Shell said that that...
-
LUKOIL COMMISSIONS DIGITAL SUBSTATION IN PERM REGION
LUKOIL commissioned its first digital power substation at the Chashkinskoye field in Perm Region. The new facility distributes and delivers electric power from a gas...
-
COVID-19 and the Price War: A good time for U.S. Independent Oil and Gas Producers to consider opportunities in Africa
By NJ Ayuk Africa’s rich resources still represent opportunity, including a wealth of natural gas waiting to be discovered JOHANNESBURG, South Africa, — It isn’t...
-
APICORP financial results grows from $96 to $112 million in one year
…Net recurring income increased by 17% between 2018 to 2019 from USD 96 million to USD 112 million DAMMAM, Kingdom of Saudi Arabia, — Balance...
-
South Sudan joins OPEC, Russia, and Saudi Arabia to stabilise the Oil Market
Along with other African producing countries, South Sudan has been a key supporter of the Declaration of Cooperation and OPEC+ since 2016 JUBA, South Sudan,...
-
OPEC+ slashes production, saves Oil Industry from collapse
Up to 20 million barrels of oil per day could come off the market in combined efforts CAPE TOWN, South Africa, — In a watershed...
-
Nigeria will start producing 1.412 to 1.579 million bpd, says minister
By Ndubuisi Micheal Obineme Following the recent OPEC meeting to curtail production, Nigeria’s Minister of State for Petroleum Resources, Chief Timipre Sylva, has officially announced...
-
G20 backs OPEC+, But Deal in Jeopardy as Mexico Refuses Cuts
… Mexico is the lone holdout in a global deal to save the oil and gas industry. US set to see production decline CAPE TOWN,...
-
FDG Holdings Becomes a Bronze Sponsor of ATIGS Dubai 2020
DUBAI, UAE – Leading Africa business development company, ATIGS Group is proud to announce FDG Holdings as Bronze Sponsor for the 2020 Africa Trade and...
-
Nigeria, OPEC+ Join Forces to Stabilise Global Oil Markets
By Ndubuisi Micheal Obineme Nigeria has joined other OPEC+ counterparts in a historic curtailment of crude oil production to rebalance and stabilize the global oil...
-
OPEC+ agrees to cut down production by 10 million bpd in May 2020
The Organization of Petroleum Exporting Countries (OPEC) and non-OPEC countries led by Russia, have agreed to cut down production by 10 million barrels per day,...
-
COVID-19: Afrika Umoja, AOP collaborates to build hospitals in Africa
CAPE TOWN, South Africa, — A Cape Town-based exhibition builder, together with an event organizer, offers to work with governments and private sectors across Africa...
-
President Lourenço Re-Appoints Diamantino Pedro Azevedo as Mineral, Petroleum Minister in Angola
LUANDA, Angola – The Angolan and African energy industry has welcomed the reappointment of Diamantino Pedro Azevedo as Minister of Mineral Resources, Petroleum and Gas...
