Latest Stories

Price slide could cut Brazil exploration budgets by up to $600mn

24 March 2020

The fall in crude oil prices could force Brazil to scale back oil and gas exploration budgets by $300-600mn this year.

Indian Energy Minister allows green projects to invoke force majeure

24 March 2020

India’s Ministry of New and Renewable Energy (MNRE) has allowed wind and solar projects hit by COVID-19 to invoke force majeure clauses

YPF to suspend non-critical activities on coronavirus crisis

24 March 2020

Argentina’s national oil company (NOC) YPF has said it will gradually suspend activities that are not critical to its business, as it takes emergency measures in response to the global coronavirus pandemic.

Fitch cuts oil price outlook for 2020 from 62.5/bbl to $41/bbl on global recession fears

24 March 2020

Fitch Ratings has cut its short and medium-term oil and natural gas price assumptions in expectation of very large market oversupply in 2020.

Nigeria seen cutting Bonny Light, Qua Iboe prices by at least $3 per barrel

24 March 2020

Nigeria will reportedly join Saudi Arabia in selling its oil at a significant discount to Brent, one of the world’s main benchmark crudes.

Fuel shortages reportedly continuing in many parts of Sudan

24 March 2020

Many cities and towns in Sudan have continued to report fuel shortages, despite the government’s efforts to improve supply conditions.

Uganda tasks state-owned company with bulk fuel sales to local retailers

24 March 2020

Uganda’s government has officially tasked a state-owned business, Uganda National Oil Co. (UNOC), with selling bulk quantities of imported petroleum products to local retailers.

Russian pipemaker ChelPipe getting ready for IPO

24 March 2020

With the predominance of oil and gas in Russia’s economy the pipe-making business is a big one. ChelPipe is the market leader and is now considering an IPO.

Tanzanian energy minister says domestic fuel reserves are adequate

24 March 2020

Tanzania’s Energy Minister Medard Kalemani said last week that the country’s fuel inventories were capable of covering domestic demand for at least two months.

Liberia invites local companies to pre-qualify for offshore bidding round

23 March 2020

Liberia’s government has indicated that it wants international oil companies (IOCs) to team up with local partners in the country’s upcoming offshore licensing round.

African Energy Chamber urges tax breaks for local oilfield service providers

23 March 2020

African oilfield service operators deserve support from the governments of African oil and gas-producing states, a Johannesburg-based industry association has argued.

South Sudan defers plans for first licensing round

23 March 2020

South Sudan’s government has postponed the country’s first licensing round.