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Goldman raises Q3 Brent price forecast to $75 per bbl

February 22, 2021

Goldman Sachs Commodities Research raised by $10 its Brent crude oil price forecasts for the second and third quarters of 2021, citing lower expected inventories, higher marginal costs to restart upstream activity and speculative inflows. The Wall Street bank expects Brent prices to reach $70 per barrel in the second quarter from the $60 it predicted previously and

Egypt discusses natural gas pipeline after Oil Minister visit to Israel

February 22, 2021

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Egypt and Israel said they may build an undersea natural-gas pipeline connecting the two countries, as they seek to collaborate on exporting the fuel to Europe. The pipeline would link Israel’s huge Leviathan field to Egypt’s liquefied natural gas plants, the countries’ energy ministries said Sunday. Egypt added that the two sides would work on a governmental framework

Iraq says no on $2B upfront oil deal with China

February 22, 2021

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Iraq has decided against signing an oil-supply deal with a Chinese state company that would’ve seen the cash-strapped Arab nation get about $2 billion upfront, according to its oil minister. Baghdad opted not to go ahead with the contract after oil prices rose in recent months, Ihsan Abdul Jabbar said in an interview with BBC Arabic. Iraq, whose economy

This week was a wakeup call, more to energy policy than the politics of climate change

February 20, 2021

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Everything is so politicized these days that it is tough to decipher facts from opinions about what happened this week with the winter storm. It’s easy to blame ERCOT — and yes, their actions led to the blackouts in part — but the full story is much more complex. One night of bad decisions would not have had such devastating

Senegal President calls for oil and gas reform

February 19, 2021

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Senegalese President Macky Sall has called for a transformation of organization, management, execution and evaluation processes within the domestic oil and gas sector, as the country prepares to enter oil and gas operations from 2023. The President made his announcement during a virtual conference held with the Council of Ministers on Wednesday. Expanding upon a prior meeting he chaired

Spartan buys Inception Exploration for $148 million

February 19, 2021

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Calgary producer Spartan Delta Corp. says it has agreed to buy private rival Inception Exploration Ltd. and two packages of oil and gas assets in northwestern Alberta for a total of $148 million in cash and shares. The company, founded last spring through a recapitalization of Return Energy Inc. that put in place a new management team, says

India set to spend Rs 7.5 trillion on oil and gas infra in next 5 yrs

February 19, 2021

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The Government of India is planning to spend around Rs 7.5 trillion to build oil and gas infrastructure over the next five years, said Prime Minister Narendra Modi. After dedicating the Ramanathapuram–Thoothukudi natural gas pipeline and Gasoline desulfurization unit at Chennai Petroleum Corporation Ltd and laying the foundation stone for the Rs 31,500 crore Cauvery basin Refinery at Nagapattinam, the Prime

Nigerian court freezes Shell accounts ahead of Aiteo lawsuit

February 19, 2021

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A federal court in Lagos has issued an injunction barring Royal Dutch Shell’s Nigerian subsidiaries from withdrawing money at 20 local banks until it ringfences potential damages in a lawsuit brought against the oil major by Aiteo Eastern E&P. Aiteo is seeking about $4 billion in total over alleged problems with the Nembe Creek Trunk Line (NCTL) pipeline

Lukoil makes buyout offer of $220 million AD for FAR Limited

February 18, 2021

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FAR Limited announced that overnight it has received a conditional non-binding indicative proposal from Russia’s Lukoil to acquire 100% of the shares of FAR at A2.2c cash per share. The Lukoil Proposal values FAR at A$220 million. FAR cautions that the Lukoil Proposal is not a legally binding offer, it is subject to targeted and timely corporate due

DRC announce first tender since 2015

February 18, 2021

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The Democratic Republic of the Congo (DRC) will launch a public tender for 19 onshore exploration blocks at the end of 2021 in a bid to boost exploration activities throughout the country. According to an announcement by Minister of Energy and Hydrocarbons Rubens Muhima, the DRC will offer 19 oil and gas blocks, representing the first international tender

Archives

Goldman raises Q3 Brent price forecast to $75 per bbl

Egypt discusses natural gas pipeline after Oil Minister visit to Israel

Iraq says no on $2B upfront oil deal with China

This week was a wakeup call, more to energy policy than the politics of climate change

Senegal President calls for oil and gas reform

Spartan buys Inception Exploration for $148 million

India set to spend Rs 7.5 trillion on oil and gas infra in next 5 yrs

Nigerian court freezes Shell accounts ahead of Aiteo lawsuit

Lukoil makes buyout offer of $220 million AD for FAR Limited

DRC announce first tender since 2015

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