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Iran, Venezuela oil contract details
On June 13, Iran and Venezuela signed three oil contracts for the reconstruction and renovation of petrochemical sites, the development of the Jose oil terminal, and the export and equipping of five gas pressure boosting stations.
Pemex raises gas flaring volumes at Ixachi despite previous pledges
Mexico’s national oil company Pemex has increased the volume of natural gas burned off at the Ixachi field despite its previous pledges to reduce flaring.
Wei-1BP1 well reaches TD at Corentyne block
Canada’s CGX Energy says Wei-1BP1, its bypass exploration and appraisal well at the Corentyne block offshore Guyana, has successfully reached the total depth of 6,233 metres.
Russia’s Novatek reported to have offered LNG technology to Argentina
Russia's Novatek reportedly offered to make technology available for an LNG project targeting fields in Argentina’s Vaca Muerta shale formation, but did not manage to strike a deal.
Iran: Petrochemical products now known across the globe
Iranian ambassador to Russia Kazem Jalali noted on Sunday that there had been an increase in trade between Iran and Russia, particularly in petrochemical and technological sectors.
Seized Iranian tanker to have cargo of oil unloaded by US
The ship – carrying an estimated 800,000 barrels of oil – is currently anchored 70 miles (112 km) offshore from Galveston having arrived on May 29, according to satellite imagery and transponder location data.
Petrofac signs $1.5bn petrochemicals deal, Algeria
An engineering procurement and construction contract for a $1.5bn complex located in Arzew Industrial Zone has been awarded to Petrofac by STEP Polymers, a subsidiary of Algeria’s state-owned Sonatrach.
Russia’s FinMin to pull tax breaks from mature oilfields
Russia’s Finance Ministry plans to cancel the 20% deduction from the mineral extraction tax (MET) for depleted oilfields that account for more than 25% of crude output, Kommersant daily reported citing unnamed sources.
South Africa turns to China’s renewable energy technology to help solve energy crisis
At the China-South Africa New Energy Investment and Cooperation conference on Tuesday, June 13 in Johannesburg, Ramokgopa highlighted opportunities for Chinese energy companies to become involved in South Africa’s energy development.
Nigeria-focused San Leon Energy in advanced refinancing talks amidst credit pressure, asset sale
The announcement follows San Leon’s public acknowledgement of pressure from its creditors, to whom it owes around $10.5mn. However, the company assured stakeholders that its substantial asset base, worth $115mn, ensures its financial stability
ACWA agrees on roadmap with Kazakh authorities on $1.5bn wind energy and battery storage project
Axens signs deal with KMG on supplying process design package for AlphaButal technology
Mozambique agrees to supply 100 MW of electricity to energy-short neighbour South Africa
South Africa will immediately start importing 100 MW of electricity from neighbouring Mozambique to help ease the intensity of blackouts (load-shedding) in the country.
Nigerian president urged to cut government stake in oil and gas sector
President Bola Tinubu’s advisory team has suggested that the Nigerian government should reduce its stake in the oil and gas sector to boost the country’s economic growth by $17bn.
ASX-listed Kinetiko Energy successfully spuds two core wells at South African gas project
The core wells – 272-01C and 272-02C – which are close to a large refinery and potential off-taker, Secunda, and the country’s largest gas pipeline, were spudded in May. Logging results indicate strong potential for gas field development.
TotalEnergies reports oil and gas finds at Ntokon field within OML 102 offshore Nigeria
France’s TotalEnergies has discovered both crude oil and natural gas in the Ntokon section of OML 102, a licence area in the shallow-water section of Nigeria’s offshore zone.
Predator encounters overpressured gas inflow in MOU-3 well in Morocco
Predator Oil & Gas, a UK-based company focused on natural gas projects in Morocco, has encountered an inflow of overpressured gas in the MOU-3 well.
Oil production cut to ease Saudi Arabia’s economic growth and create budget deficit
Saudi Arabia’s decision to cut oil production by 1mn barrels per day until December 2024 within the framework of OPEC+ in support of oil prices will ease economic growth and swing the fiscal surplus into a deficit.
Jordan, Egypt agree new gas deals centred on Aqaba FSRU
Jordan and Egypt last week signed agreements pertaining to Egypt’s supply of natural gas to Jordan and Egypt’s use of the FSRU installed at Aqaba Port in the Red Sea.
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