Archive for News analysis

Ophir Energy denied Fortuna block license extension

Ophir Energy denied Fortuna block license extension

January 24, 2019 No Comments

Block R has been returned to the State; The Ministry of Mines and Hydrocarbons welcomes further investment in hydrocarbon sector opportunities, recognizes Ophir’s commitment in Equatorial Guinea. Equatorial Guinea’s Ministry of Mines and Hydrocarbons has confirmed that no further extension has been granted to Ophir’s Block R production sharing contract. The Ministry issued a notice […]

World’s Largest Wind Turbine

World’s Largest Wind Turbine

January 22, 2019 No Comments

Rotterdam’s famous windmills, cube houses, and tulip gardens will soon have to compete for attention with a towering newcomer. GE announced plans this week to erect a prototype of the world’s largest wind turbine, the Haliade-X, on the city’s outskirts. The turbine has a rotor that measures 220 meters in diameter — twice the length […]

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Russia-Ukraine gas settlement

Russia-Ukraine gas settlement

January 22, 2019 No Comments

Ukraine’s Naftogaz ready to reduce amount of its claim to Gazprom from $12 bln to $2 bln Ukraine’s Naftogaz and Russia’s Gazprom can clinch a settlement deal, Russian Energy Minister Alexander Novak told reporters on Monday. “Gazprom is working [on claims], and we expect consideration by an appeal instance in the Swedish court in near […]

Crude Oil Price Movement to 22/01/19

Crude Oil Price Movement to 22/01/19

January 22, 2019 No Comments

The price of OPEC basket of fourteen crudes stood at $61.49 a barrel on Monday, 21 January 2019, compared with $60.90 the previous Friday, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Oriente (Ecuador), Zafiro (Equatorial Guinea), Rabi […]

Total Set To Approve New Oil Project Offshore Nigeria

Total Set To Approve New Oil Project Offshore Nigeria

January 22, 2019 No Comments

France’s Total will officially endorse a decision to proceed with the development of a new project offshore Nigeria, the Ikike project, Patrick Pouyanné, the chief executive of the oil and gas supermajor, said on Monday. “There is a huge potential in Nigeria, it is probably the most prolific country in west Africa in terms of […]

List of 35 individuals that own the same as poorest 50% of humanity

List of 35 individuals that own the same as poorest 50% of humanity

January 22, 2019 No Comments

35 of the wealthiest men and women in the world, according to the Forbes rich list 1) JEFF BEZOS Wealth: £86.8billion Company: Amazon 2) BILL GATES Wealth: £69.8billion Company: Microsoft 3) WARREN BUFFETT Wealth : £65.1billion Company: Berkshire Hathaway holding company 4) BERNARD ARNAULT Wealth : £55.8billion Company: LVMH 5) MARK ZUCKERBERG Wealth : £55billion […]

Fourth Industrial Revolution

Fourth Industrial Revolution

January 21, 2019 No Comments

Saudi Aramco’s Uthmaniyah Gas Plant (UGP) has been recognized by the World Economic Forum (WEF) as a “Lighthouse” manufacturing facility, a leader in technology applications of the Fourth Industrial Revolution. Saudi Aramco is the first energy company globally to be included in this select group of manufacturing sites. The plant is also the only facility […]

Douala International Airport’s new solar scheme

Douala International Airport’s new solar scheme

January 21, 2019 No Comments

A new ground-mounted 1.2MW solar installation at Cameroon’s Douala International Airport has been put into operation to help reduce the CO2 emissions produced by aircraft during ground operations. Aircraft currently use jet fuel based auxiliary power units (APUs) or diesel-driven ground power units (GPUs) to provide pre-conditioned air and electricity to aircraft during ground operations. […]

Oxfam Says the 26 richest people in the world control £1.1trillion

Oxfam Says the 26 richest people in the world control £1.1trillion

January 21, 2019 No Comments

The 3.8 billion people who make up the poorest half of the world saw their wealth decline by 11 per cent last year while billionaires’ fortunes rose 12 per cent – or $2.5 billion a day, an Oxfam report published today reveals. Public Good or Private Wealth? describes how decades of progress in reducing global […]

New Energy Outlook (NEO) 2018 Report

New Energy Outlook (NEO) 2018 Report

January 21, 2019 No Comments

Wind and solar are set to surge to almost “50 by 50” – 50% of world generation by 2050 – on the back of precipitous reductions in cost, and the advent of cheaper and cheaper batteries that will enable electricity to be stored and discharged to meet shifts in demand and supply. Coal will shrink […]

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