Oil & Gas

KEY POINTS Oil-producing nations in Africa have raised 45% of the initial $5 billion in seed capital for the planned Africa Energy Bank, which will fund oil projects on the …

OPEC+ has decided to maintain its output policy, with an increase planned in December. Emphasis remains on ensuring compliance from member nations.

Falling oil prices threaten major oil companies’ ability to maintain shareholder payouts. Firms may need to borrow or cut share buybacks in response to declining profits.

NOSDRA plans to enhance oil spill regulations, collaborating with CNA to implement global safety standards and improve regional oil spill response efforts

TotalEnergies plans to evaluate a $9 billion offshore energy project in Suriname, which could earn the country up to $26 billion in revenue

KEY POINTS South Sudan and Sudan have made progress towards restarting the pumping of South Sudan’s crude oil through a pipeline running to a port in its neighbour, South Sudan’s …

Saudi Aramco, Trafigura, and other major oil players are competing to buy Shell’s South African gas stations as the company reshapes its downstream portfolio

Shell and other energy giants are taking legal action against Venture Global LNG for failing to fulfill key long-term contracts, warning of a potential industry-wide crisis

OPEC+ will proceed with its planned October oil output increase, despite market concerns, due to Libyan disruptions and hopes for a U.S. rate cut.

WEG Africa completes a durable substation E-house for Sasol’s Mozambique project, boosting energy production.