Kuwait Petroleum Corporation is reassessing plans to spend about US$500 billion in capital investment and may decide this year to combine its eight business units into four to streamline the company. Lower oil prices, Kuwait’s reduced output under a deal by OPEC to pump…
The US House of Representatives’ Judiciary Committee approved a fresh bill by voice vote on the 7th February7 to amend the Sherman Antitrust Act to make oil producing and exporting cartels illegal. H.R. 948 , which committee member Steve Chabot (R-Ohio) introduced on the…
Rwanda has signed a US$400 million deal to produce bottled gas from Lake Kivu, which emits such dense clouds of methane it is known as one of Africa’s “Killer Lakes”. The project by Gasmeth Energy, owned by US and Nigerian businessmen and Rwandans, would…
The Kathu Solar Park in South Africa, constructed by SENER and ACCIONA Industrial came into commercial operation on the 30th January 2019. With an installed capacity of 100 MW, it will allow clean energy to be supplied to 179,000 homes in the Northern Cape…
South Africa’s first deep-water discovery, reported on the 7th February by French oil major Total SA, may prompt a rush of activity offshore by competitors as the country works to cut its reliance on imported fuels. The Brulpadda find, estimated at about one billion…
The governor of the Central Bank of Iran unveiled plans for using non-dollar accounts for oil and gas trade with Iraq. Abdolnaser Hemmati held a meeting on the 6th February with presidents of Iraqi banks, members of Iraq’s chamber of commerce and the Arab…
Lukoil has started drilling production wells in the second phase of development of West Qurna-2 oil field in southern Iraq. It has signed contracts for the drilling of 54 wells targeting the Late Cretaceous Mishrif formation and three wells targeting the Early Cretaceous Yamama….
Australia’s energy market rule maker has acknowledged the vital and growing role demand response has to play in the smooth running of the national grid, but says it is also vital to lower costs and clarify the role of the emergency supply service. In…
The United States is the biggest source of imported oil by Britain for the first time in more than 60 years after fracking turned it into a global exporter. Imports from America have risen since 2015 when the country lifted a ban on selling…
Saudi Arabia’s efforts to shore up public finances and revive economic growth are still pretty much dependent on oil prices, even as the kingdom tries to reduce its reliance on revenue from crude exports. The world’s biggest oil exporter will need crude prices to…
