Latest Stories

Republic of Congo set to export oil in excess of OPEC+ quotas

29 April 2020

The Republic of Congo looks set to export more oil than expected in May and June.

NNPC releases updated OSP list, continues mooting plans for production cuts

28 April 2020

NNPC has published an updated list of its official selling prices (OSPs) for crude oil, following a delay.

Investors sue Moscow exchange after WTI swings negative

28 April 2020

More than 150 investors are preparing to launch a class action lawsuit against the Moscow Exchange (MOEX) worth RUB1bn ($13mn), after West Texas Intermediate (WTI) futures closed at a negative prices, but did the Urals blend also go into the red?

Botswana keen to ensure fuel and energy supplies during lockdown

28 April 2020

Botswana’s government has pledged to ensure adequate supplies of fuel and energy to the population during the lockdown imposed to combat the coronavirus pandemic.

Energy minister says Ecuador may try lifting fuel subsidies again

28 April 2020

Ecuador is considering the possibility of lifting its costly fuel subsidies once again in response to the recent plunge in global oil prices, according to the country’s energy minister.

Storage glut could hit oil shipments from Guyana’s Liza field

28 April 2020

Shipments of crude oil from the Liza field offshore Guyana could be affected by the global storage glut that has resulted from the coronavirus pandemic.

Guyana receives 34 bids for crude marketing contract

28 April 2020

Guyana has received a total of 34 bids for a new contract to market the government’s share of crude oil.

Turkey’s electricity producers assess April collapse in demand at 20%

27 April 2020

Producers association expects power spot price to dive 40% in pandemic-hit April and 15% in 2020. Even operational profitability tough to sustain. Opposition says government policy encourages building of plants country does not need.

Equatorial Guinea, Marathon choose Vfuels for modular refinery study

27 April 2020

The government of Equatorial Guinea and Marathon Oil (US) have chosen a contractor for a study of plans to construct a modular oil refinery.

Halliburton follows Chevron in pledging to exit Venezuela

27 April 2020

Houston-based Halliburton has pledged to wrap up most of its activities in Venezuela by December 1, in line with instructions from the US Treasury Department.

Tullow agrees to sell Ugandan assets to Total for $575mn

27 April 2020

Tullow Oil (UK/Ireland) revealed last week that it had arranged to sell its assets in Uganda to Total (France).