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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.
Shah Deniz gas export rises 8.7% in first five months of 2023 amid overall boost in Azerbaijan's gas output
Iran’s Raisi pursuing solidarity of the sanctioned and trade deals on tour of Venezuela, Cuba and Nicaragua
Chevron looks to expand Thailand gas output
Chevron Thailand Exploration and Production was awarded on 30 May a new licence in the Gulf of Thailand to explore and produce petroleum in Block G2/65, the company said last week.
KPC cancels tender for consultancy study
The Kuwait Petroleum Corp. (KPC) has reportedly cancelled a tender that it had issued in December for a consulting study to determine financing options for its subsidiaries.
Iraqi budget passed with Baghdad taking control over Kurdish oil revenues
Iraq has passed a three-year budget while moving to exert greater control over the Kurdistan Region’s oil sector
Perenco signs 20-year contract renewal for development of Cameroon’s Rio del Rey Basin
Perenco, the Anglo-French oil and gas company, has announced the signing of a new 20-year production-sharing contract (PSC) with Société Nationale des Hydrocarbures (SNH) for the continued development of the Rio del Rey Basin offshore Cameroon.
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