TotalEnergies Agrees to Propose New Mandate for Pouyanne French energy group TotalEnergies said in a statement that its board had unanimously decided that the renewal of the mandate of CEO Patrick Pouyanné will be proposed to the annual general shareholders in May 2024. “The Board of Directors considers that it is highly desirable that Patrick…
Diesel Shortage Pushes Russia’s ESPO Crude Above Brent A shortage of diesel fuel has pushed Russia’s ESPO crude blend to a premium over Brent crude, Bloomberg has reported, citing unnamed traders. ESPO, named after the East-Siberia-Pacific Ocean pipeline that carries it to export markets, is a light crude with a low sulfur content that independent…
Libya’s Oil Ports Are Operating Normally despite Deadly Storm Libya’s deadly flood that is estimated to have killed more than 11,000 people with thousands more missing hasn’t harmed oil export terminals in the African OPEC member and ports are operating normally, the head of Libya’s state oil firm told Bloomberg in an interview published on…
OPEC: Fossil Fuels Continue to Make Up 80% of Global Energy Mix The Organization of Petroleum Exporting Countries (OPEC) has released a statement saying that fossil fuels continue to make up 80% of the global energy mix. In its September 14 statement, OPEC called out the assertion by the International Energy Agency (IEA) that fossil…
Forty-Two Companies Win Bid for Nigerian Gas Flare Commercialisation Programme The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) on Wednesday announced the outcome of the bidding exercise and issuance of letters of award to 42 companies/entities deemed successful in the keenly contested bid for 49 Flare Sites put forward during the 2022 Nigerian Gas Flare Commercialisation…
Chevron Acquires Majority Stake in Hydrogen Project in Utah Chevron U.S.A. Inc., through its Chevron New Energies division, announced it has closed a transaction with Haddington Ventures to acquire 100% of Magnum Development, LLC, and thus a majority interest in ACES Delta, LLC, which is a joint venture between Mitsubishi Power Americas, Inc. and Magnum…
Tullow Oil Reduces Upper End of 2023 Output Outlook West Africa-focused Tullow Oil (TLW.L) on Wednesday reduced the upper end of its production outlook for this year to 58,000-60,000 barrels per day (bpd) from 58,000-64,000 bpd. The reduction was because of lower-than-expected production from its Jubilee field in the first half of the year and…
7th Summit of GECF Heads of State and Government set for Algiers, March 2024 The Gas Exporting Countries Forum (GECF) marked a significant step towards its flagship event, the 7th Summit of Heads of State and Government, by convening the 4th High-Level Ad-Hoc Working Group (HLAHWG) meeting recently at the GECF Secretariat. This gathering sets…
Ukraine Retakes Oil and Gas Platforms off Crimea from Russia Ukraine said on Monday its forces had retaken oil and gas platforms offshore Crimea which Russia had occupied in 2015. “The so-called Boyka Towers are oil and gas drilling platforms off the coast of Crimea in the Black Sea, and Ukraine has regained control over…
U.S., Brent Crude Futures Fall By 1 USD a Barrel on Stronger Dollar U.S. and Brent crude oil futures fell on Thursday by $1 a barrel on a stronger dollar and expectations of weaker international demand. Brent crude futures fell $1.00, or 1.11%, to $86.60 a barrel by 1:03 p.m. EDT (1603 GMT), while U.S….
