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IMF projects rapid economic growth for Guyana amid soaring oil output
In its latest World Economic Outlook report, the International Monetary Fund projected that Guyana’s economy is set to grow by 38.4% in 2023. Should this figure prove accurate, Guyana would be the fastest-growing country this year.
Argentina appeals US court ruling requiring $16bn payment to YPF shareholders
Argentina has launched an appeal against a New York court's recent verdict that mandated the country pay nearly $16.1bn to two corporations left uncompensated during the nationalisation of oil behemoth YPF in 2012.
GE Vernova commissions four 175 MW units for Nigeria’s second-largest hydropower plant
Ghana’s Petroleum Authority sanctions 7 oil marketing companies for illicit fuel distribution
Power Player profile: South African billionaire entrepreneur Patrice Motsepe
South African mining billionaire businessman Patrice Motsepe is the founder and executive chairman of African Rainbow Minerals, a diversified mining and minerals company with operations in South Africa and Malaysia.
US gas output to reach a new high in 2023, says EIA
According to the US Energy Information Administration's new Short Term Energy Outlook, both America’s gas output and demand will rise to a new high this year.
Exxon to acquire Pioneer for $60bn
ExxonMobil Corp. has agreed to buy Pioneer Natural Resources Co. for $59.5bn. The all-stock transaction will make Exxon the dominant player in the Permian Basin, the world’s most active shale play.
NorthAmOil: Exxon to acquire Pioneer for $60bn
German developer ABO Wind sells 100-MW South African solar PV project
German renewable energy project developer ABO Wind has sold a 100-MW solar photovoltaic (PV) project in South Africa to an unnamed investor.
US imposes first punishments for ignoring Russian oil price cap sanctions
US officials have imposed sanctions on companies violating the $60 per barrel price cap on Russia's seaborne crude exports for the first time on October 12.
Kenya’s KPRL mulls reviving idle 9 MW thermal power plant
Iran, Russia research centers agree to work on energy projects
Iran’s Institute for International Energy Studies and Russia’s Roscongress Foundation have signed a memorandum of cooperation to carry out collaborative research on investment opportunities in the oil and gas industries.
COMMENT: Non-Western tankers carry most of Russian crude exports, G7 oil price cap fails
Three-fifths of Russia's seaborne crude exports are now being shipped by tankers not required to comply with the G7 oil price cap, according to S&P Global data, as the oil price cap sanctions are increasingly seen to have failed.
Major Philippine oil companies announce price cuts on petroleum products
In a move aimed at providing relief to consumers across the nation, several leading Philippine oil companies have implemented a substantial reduction in the prices of their petroleum products.
IMF projects rapid economic growth for Guyana amid soaring oil output
IMF projects Guyana’s economy to grow by impressive 38% in 2023
Nigeria grants petroleum exploration licence to TGS-PetroData
Global LNG supply diversification sought by Japan as Russia-Ukraine conflict drags on
Amid the ongoing Russian-Ukraine conflict Japanese LNG traders are actively looking for alternative sources in regions like Qatar, Indonesia and beyond.
Bulgarian coal miners, workers lift road blockades, strikes still possible
Protesting Bulgarian miners and energy sector workers lifted road blockades on October 13 and will now address their grievances to the government and the European Commission
South Africa’s law enforcement agencies hunt down coal smugglers in five provinces
The South African Revenue Service, together with government law enforcement agencies, on October 12 carried out a coordinated search and seizure operation across five provinces to clamp down on a criminal syndicate of alleged coal smugglers
First welding marks the start of Pertamina gas subholding's oil pipeline construction in Central Java
Pertamina's Gas Subholding, through its subsidiary PT PGAS Solution, in collaboration with PT Pertamina Patra Niaga, conducted the First Welding for the Oil Pipeline Project from Pengapon to Boyolali, aimed at meeting energy needs in Central Java.
Pakistan interested in regular LNG supplies from Russia — minister
Pakistan has expressed its keen interest in securing liquefied natural gas shipments from Russia, as revealed by Russian Energy Minister Nikolay Shulginov during his address at the Russian Energy Week forum.
Vietnam's banking sector accelerates green financing efforts
Vietnamese banks are intensifying their focus on green financing, with significant government support, as they navigate the ever-evolving landscape of advancements and challenges in the industry.
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