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Hungary agrees on deferred payments with Gazprom for winter gas deliveries

4 October 2022

Agreement helps ease pressure on Hungary’s widening current account deficit and steady the sinking forint.

LatAmOil: Ecopetrol head says less Colombian oil is going to Asia

4 October 2022

Colombia’s national oil company Ecopetrol is sending a smaller share of its oil exports to Asia this year, as competition for Asian market share has ramped up in recent months.

DMEA: Oil begins flowing to Iraq’s Karbala refinery

4 October 2022

Iraq’s Oil Ministry announced on September 25 that the Karbala refinery had begun receiving feedstock in preparation for trial production.

AfrOil: Gasoline subsidies called main driver of Nigerian public debt

4 October 2022

Patience Oniha, the director-general of Nigeria’s Debt Management Office (DMO), said on September 27 that domestic gasoline subsidies were the primary cause of the ongoing rise in public debt.

OPEC+ makes 2mn bpd cut, angering the US

3 October 2022

Months of badgering by Western leaders counted for nought this week as OPEC+ announced a 2mn bpd quota reduction that serves to bolster prices and cover up issues raising production.

Senate demands answers from NUPRC over oilfield allocation

3 October 2022

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) must explain why it allegedly re-allocated the Atala marginal oilfield to a different firm, the Senate has said.

Head of ENOC says UAE’s retail fuel consumption is rising

3 October 2022

The UAE is seeing retail fuel consumption grow on the back of improvements in the economy, but without returning to the level that prevailed before the coronavirus (COVID-19) pandemic.

South Africa announces new Eskom public utility board amid worsening electricity crisis

3 October 2022

South Africa: Cabinet announces new Eskom board amid worsening electricity crisis