Oil Prices Climb as Dollar Weakens and IEA Upgrades Demand Outlook Oil prices experienced an increase on Thursday, building on the gains from the previous session. This upward momentum was attributed to a weaker dollar and a boost from the International Energy Agency (IEA), which raised its oil demand forecast for the next year. Brent…
U.S. Gas Producer EQT Explores Sale of $3 Billion Worth of Assets EQT, a US-based natural gas production company, is reportedly contemplating divesting minority stakes in oil and gas assets in Pennsylvania to raise more than $3 billion. Sources familiar with the matter informed Reuters that EQT is collaborating with an undisclosed investment bank to…
Why Big Oil Isn’t Losing Sleep Over the New Climate Deal The COP28 climate summit in Dubai recently concluded with a landmark deal calling for a transition away from fossil fuels. While some countries, including the United States, applauded this as the firmest-ever commitment to moving away from energy sources responsible for significant planet-heating emissions,…
Navigating the Challenges of Mediterranean Security- SHADE MED 2023 EUNAVFOR MED and MARCOM jointly organized the SHADE MED conference, held between December 6 and 7 in Rome, with a focus on discussing Mediterranean maritime security. In its 12th edition, this year’s conference addressed the theme, underscoring the ongoing commitment to addressing and navigating the complex…
Nigeria Among Eight Gulf of Guinea Countries Confronting Piracy Challenges Nigeria is one of the eight countries situated in the Gulf of Guinea (GoG), along with Benin, Côte d’Ivoire, Ghana, Guinea, Liberia, Sierra Leone, and Togo. The Gulf of Guinea encompasses the northeastern part of the tropical Atlantic Ocean, extending from Cape Lopez in Gabon…
Senior Marine Suggests U.S. Should Capitalize on China’s Recent ‘Malign Behavior “Like when you’re ramming ships, when you’re using water cannons, when you’re using underwater sonar, lasers blinding people — not helpful, not helpful at all,” said Brig. Gen. Stephen Lightfoot. The escalating “increasingly malign behavior” exhibited by China in the southwest Pacific may be…
African Development Bank Greenlights $1 Billion Guarantee from the United Kingdom to Back South Africa’s Just Energy Transition The Board of Directors of the African Development Bank Group has sanctioned a groundbreaking $1 billion guarantee program in partnership with the UK Foreign Commonwealth and Development Office (FCDO). This collaboration will empower the Bank to amplify…
Philippines and India to Conduct Maritime Partnership Exercise in West Philippine Sea India and the Philippines are conducting a maritime partnership exercise (MPX) in the West Philippine Sea to enhance maritime cooperation. The exercise involves India’s warship INS Kadmatt and the Philippine Navy’s BRP Ramon Alcaraz. The collaboration aims to boost interoperability and share best…
Activator HQ Unveils Africa’s Top 100 Business Opportunities to Monitor in 2024 The 2024 edition of the “Top 100 Business Opportunities in Africa to Watch,” an annual selection of lucrative business ideas and investment opportunities, has been released by Activator HQ. Despite challenges such as rising food and fuel costs, currency depreciation, climate change impacts,…
Dark Fleet Tanker Grounds Near Singapore, Prompting Response Efforts The “dark fleet” tankers, and vessels involved in carrying oil from countries such as Russia, Venezuela, and Iran, pose serious challenges for both Western sanctions enforcement and maritime safety. These tankers, characterized by their older age and light regulation, present a heightened risk of accidents and…
