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China ramping up Iran oil imports to decade high of 1.5m bpd
Beyond Stabroek
NewsBase provides a brief survey of recent development at the blocks beyond Stabroek in Guyana’s offshore zone.
TEHRAN BLOG: Petrol queues choke Iranian cities
Iranian car owners are driven around the bend by petrol station queues, even though the government says there isn't a shortage.
South Africa electricity minister announces significant improvement in Eskom generation capacity
Andrada Mining signs $25mn deal with US asset manager Orion to develop Namibia lithium mine
$1.98bn oil refinery set to begin operations in Tema, Ghana
Nigeria's Forcados crude terminal resumes crude exports
Brazil’s environment agency grants Petrobras licence for FPSO Anita Garibaldi
The Brazilian Institute of the Environment has granted Petrobras a licence to operate the FPSO Anita Garibaldi. Petrobras aims to connect the new platform to 43 wells, with peak production expected for 2026.
Brazil’s Port of Maceio auctions three liquid bulk areas
LONG READ: Russia in Africa
A new Great Game is underway, but it's not playing out in the steppes of Central Asia or the mountains of the Hindu Kush but in the savannahs and deserts of Africa.
Brazil’s Petrobras aims to resume fertiliser production at Parana in 2024
Petrobras could resume fertiliser production at its Araucaria Nitrogenados plant in Parana, south of Sao Paulo, as early as the first half of 2024. The plant has production capacities of 1,900 tonnes/day of urea and 1,300 tonnes/day of ammonia.
ExxonMobil to build additional oil reserve potential of 42mn barrels in Indonesia
Indonesia's ExxonMobil Cepu Limited (EMCL), known as Exxon, is taking steps to access an additional oil reserve potential of 42mn barrels, the Indonesia Business Post reported August 14.
Russia to increase export duty on oil
The Russian Finance Ministry has revealed that the export duty on the country's oil is set to increase by $4.5, bringing it to $21.4 per tonne, effective from September 1, 2023.
Guyana emerges as direct crude competitor to Brazil, S&P Global confirms
S&P Global Commodity Insights’ oil pricing and news expert Patrick Harrington claimed that Guyana is emerging as a direct competitor to Brazil in the South American crude market as Guyana’s output continues to rise.
Argentina's Pampa Energía to pump $200mn into Vaca Muerta pilot project
Pampa Energía revealed that it will inject a $200mn investment into a pilot project in the Vaca Muerta shale formation. Company executives said that the firm is aiming to reach 200,000 barrels per day over the next few years.
Suriname's Staatsolie confirms 2024 deadline for FID on Block 58
Annand Jagesar, managing director of Suriname’s state oil firm Staatsolie, confirmed that the final investment decision for Suriname’s Block 58 will be delivered in 2024.
Venezuela's oil output surges 10.65% in 2023, PDVSA reports, in contrast to lower OPEC figures
Venezuela has witnessed a surge in oil production, recording a remarkable 10.65% increase in the ongoing year, as detailed in a report unveiled on Monday, August 14, by the state-owned oil giant, PDVSA.
Brazil’s Petrobras continues due diligence on Braskem
Petrobras continues analysing potential ways forward for its stake at petrochemicals and polymers major Braskem, the company said on August 14.
World Bank tribunal grants Exxon Mobil $77mn after reviewing Venezuela claim
Exxon Mobil has secured a substantial victory in its protracted legal engagement with Venezuela, as the World Bank arbitration tribunal ruled in favour of the energy giant.
Norway’s Solstad Offshore wins $100mn vessel contracts with PRIO, Equinor in Brazil
Norwegian engineering services provider Solstad Offshore has been awarded two contracts worth $100mn from Brazil’s PRIO and Equinor for the construction of a support vessel and conversion of a platform supply vessel, Brazil Energy Insight reported.
Venezuelan President Maduro urges return of Citgo, reclaims $4bn profits stuck in US banks
Venezuela's President Nicolas Maduro issued a resolute demand on Monday, August 14 for the unconditional return of the oil company Citgo, owned by the South American country but seized by the US in 2019 as a result of deepening sanctions.
Brazil’s 3R seeks partners, divestments in infrastructure in the Potiguar Cluster
3R Petroleum is seeking partnerships and divestments of some assets in the industrial asset of Guamare, in the Potiguar Cluster in Rio Grande do Norte state, Brazil Energy Insight reported on August 1.
Argentina's Enarsa cancels LNG cargo amid lower demand due to warmer weather
Argentina’s state-run energy company Enarsa has cancelled a shipment of liquefied natural gas, a source familiar with the matter revealed. This comes as the South American country experiences warmer winter weather than what was previously expected.
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