Archive for News analysis

Reformed Plug-In Car Grant extended into next decade

Reformed Plug-In Car Grant extended into next decade

November 16, 2018 No Comments

The UK government on 11 October 2018 announced changes to funding to support purchasing the next 35,000 of the cleanest vehicles. For the last 7 years, the Plug-in Car Grant (PICG) has provided a discount to the price of over 160,000 new ultra-low emission vehicles. These changes to financial incentives reflect the ongoing success of […]

Macron Agrees With Trump To Bring Down Oil Prices

Macron Agrees With Trump To Bring Down Oil Prices

November 16, 2018 No Comments

French President Emmanuel Macron said Nov. 14 that he and U.S. President Donald Trump agreed to put pressure on oil producers to bring down prices. Oil prices have risen 45% since Macron took office in mid-2017 and his government is facing pressure on high prices from a grassroots movement protesting recent petrol tax hikes. “When […]

Centrica joins community energy blockchain trial

Centrica joins community energy blockchain trial

November 16, 2018 No Comments

Centrica has joined forces with machine learning start-up Verv on the next phase of a community energy trial that aims to explore how peer-to-peer trading on the blockchain could reduce customer bills. Experts from the company’s supply business, British Gas, are supporting a live customer trial at a social housing community in Hackney, London where […]

Global Oil Today

Global Oil Today

November 15, 2018 No Comments

The price of OPEC basket of fifteen crudes stood at $64.51 a barrel on Wednesday, 14 November 2018, compared with $67.01 the previous day, according to OPEC Secretariat calculations. The December light, sweet crude contract on the New York Mercantile Exchange dropped stood at $55.69/bbl. The NYMEX natural gas price for December was up 31¢ […]

India Boosts African Oil Imports

India Boosts African Oil Imports

November 15, 2018 No Comments

India’s crude oil imports from Africa jumped in October to their highest level in three years as Indian refiners rushed to secure more African barrels amid uncertainties over the U.S. waivers for Iran’s oil, while a narrowing premium of Brent Crude prices over Dubai swaps made Brent-linked African grades more attractive for buyers in Asia. […]

African Energy Chamber Applauds Angola’s Membership in GECF

African Energy Chamber Applauds Angola’s Membership in GECF

November 15, 2018 No Comments

The Gas Exporting Countries Forum has been at the forefront of promoting the use of natural gas as an affordable and sustainable fuel of choice for sustainable development. African countries rallying around the drive of Equatorial Guinea’s Mines and Hydrocarbon Minister, Gabriel Mbaga Obiang Lima’s drive to monetize gas and engage with OPEC and GECF […]

20-year License renewal for OMLs 4, 38 and 41 confirmed.

20-year License renewal for OMLs 4, 38 and 41 confirmed.

November 15, 2018 No Comments

Seplat Petroleum Development Company Plc (“Seplat” or the “Company”), announced that Nigeria’s President and Honourable Minister of Petroleum Resources has given consent for the renewal of OMLs 4, 38 and 41 to a new expiry date of 21 October 2038. Seplat holds a 45% working interest in OMLs 4, 38 and 41 and in the […]

IMF Staff Concludes Visit to Qatar

IMF Staff Concludes Visit to Qatar

November 15, 2018 No Comments

Significant fiscal and external buffers have enabled Qatar to successfully absorb the adverse shocks from the 2014-16 decline in oil prices and the diplomatic rift. • Near- to medium-term outlook remains favorable in the context of relatively higher hydrocarbon prices, prudent fiscal policy, healthy financial system and accelerated structural reforms. An International Monetary Fund (IMF) […]

Chevron Announces $1 Million for California Fire Relief Efforts

Chevron Announces $1 Million for California Fire Relief Efforts

November 15, 2018 No Comments

Chevron announced a contribution of $1 million from the Chevron Global Community Fund to the American Red Cross in support of relief efforts for wildfires in Northern and Southern California. “As a California company, we mourn the loss of life and destruction these fires have caused,” said Chevron Chairman and CEO Michael Wirth. “Our thoughts […]

ADNOC and Mubadala to Jointly Explore Global Investment and Growth Opportunities

ADNOC and Mubadala to Jointly Explore Global Investment and Growth Opportunities

November 14, 2018 No Comments

Abu Dhabi National Oil Company (ADNOC) and Mubadala Investment Company (Mubadala), today, signed a framework agreement to explore together potential global growth opportunities that build on Mubadala’s diverse portfolio of refining and petrochemicals assets and support ADNOC’s international Downstream investment ambitions. The agreement was signed by Abdulaziz Alhajri, Director of ADNOC’s Downstream Directorate and Musabbeh […]

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