Energy trader Gunvor has announced its agreement to acquire a 75% stake in a 785 megawatt (MW) power plant in Bilbao, Spain, from bp Gas Marketing. This marks Gunvor's first power plant acquisition and is expected to be completed in the first quarter of 2024.
Frontera Energy and CGX Energy have jointly cooperated to develop a promising offshore block in Guyana, with a final investment decision expected by 2026. This joint venture has the potential to become the next major oil and gas exploration project in the country, following the success of the Exxon Mobil-led consortium.
Wintershall Dea has been awarded the Gold standard for the third consecutive year by the United Nations Environment Program (UNEP) for its engagement and pathway to reducing methane emissions.
Niger expects to export its first barrels of crude oil through a new pipeline connecting the country's Agadem oilfield to the Benin port of Cotonou. The project, backed by PetroChina, was officially launched on November 1st and is expected to start commercial operations in January.
South Africa's PetroSA has chosen Russia's Gazprombank Africa as an investment partner for its mothballed gas-to-liquid (GTL) refinery in Mossel Bay, according to a statement from the government. This decision comes after South Africa agreed to a recommendation from PetroSA to select Gazprombank as its partner.
Iran is expanding its refining projects, with the Homs refinery being their main focus. It has received requests from various countries for refining cooperation and is in the process of finalizing a contract with Syria.
Serbia has taken a major step towards reducing its dependence on Russian gas with the completion of an interconnector to a pipeline in Bulgaria.
Papua New Guinea's state-owned petroleum company, Kumul Petroleum, is currently in advanced discussions with Chinese banks to secure funding for its stakes in two major liquefied natural gas (LNG) projects in the country.
The US Department of Energy has announced its plan to purchase up to 3 million barrels (mmbbl)of crude oil for the Strategic Petroleum Reserve (SPR) for delivery in March 2024.
The Dangote oil refinery in Nigeria received its first cargo of 1 million barrels (mmbbl) of crude oil from Shell International Trading and Shipping Co. (STASCO), after years of delay.
