By IIya Spivak | – Talking Points: Crude oil prices fall as US output hits highest since at least 1983 Gold prices retreat as White House hints at tariff hike exemptions All eyes on how trade partners will respond to US protectionism Crude oil prices were unable to capitalize on a recovery in risk appetite, plunging after weekly EIA inventory flow data showed stockpiles added 2.41 million barrels last week. That topped estimates calling for a 2.19 barrel increase (though falling short of the 5.66 million jump predicted by API). The same …

By Allen Good | – Breaking with integrated peers that have committed to restraining capital spending and increasing cash returns to shareholders, ExxonMobil plans to ramp up capital spending from $24 billion this year to $28 billion in 2019 and $30 billion on average through 2025, with the goal of doubling earnings and cash flow from 2017 levels by 2025 and delivering a return on capital employed of 15% compared with 7% in 2017. While investors have been clamouring for greater capital discipline from integrated oils, …

By Ian Lewis | – The region will have to offer much more attractive investment terms to lure operators to its upstream Put a group of oil company bosses in a room together at virtually any time in the industry’s history and they will complain about investment terms or the regulatory environment in the countries they operate. Nowhere is this more evident than in sub-Saharan Africa. The continent is relatively under-explored with huge hydrocarbons potential but has struggled to attract funding as firms globally slashed …

Matthew DiLallo | – Given the recent market whispers that OPEC will extend its output cuts, it suggests that the oil cartel thinks that oil prices are still a bit too low for its liking. Last fall, OPEC sent shock waves through the oil market by agreeing to its first output cut in eight years. That decision marked a notable policy shift by the oil cartel, because it meant the abandonment of its pump-and-dump strategy, which it instituted in an ill-fated attempt to push high-cost shale …

By David Lettis | – The Ugandan government in late August awarded oil production licenses to Total SA, which should allow the company to begin activities required for future production. Total has made East Africa a primary focus for production growth, largely because of the immense Ugandan reserves. Here’s why Total seems so intent on beginning production activities and how this factors into its overall growth strategy. Oil in Uganda The reason for going into Uganda revolves around one simple fact: There is a lot of …

By Paul Burkhardt | – About 30 minutes down a pot-holed road from Vilanculos, where dhows ferry tourists to luxury resorts on Bazaruto island, Sasol Ltd. is ramping up output of a fuel that could transform the world’s 13th poorest nation. Vast gas discoveries hold the potential to boost Mozambique’s economy, more than three decades after the apartheid regime of neighbouring South Africa backed rebels in a civil war that laid waste to the former Portuguese colony. “We’re going to incrementally increase capacity until we’ve reached …

By Fanuel Lakew | – It is obvious that pipelines are a safe and efficient means of transporting large quantities of crude oil and natural gas over and through the land as energy is fundamental to economic security. These days, having large-scale transportation of natural gas using tanker truck or rail is not feasible as it is costly and takes large amount of resources. So pipelines are more cost-effective than the alternative transportation options. Experts in the area ascribed that pipelines require significantly less energy …

By Tolulope Ola-David | – Africa’s largest economy, Nigeria relies on sale of crude for about 90% of its foreign exchange earnings. The economy has been hit hard by the fall in global oil prices over the last year. Nigeria continues to bear the brunt of the fall in global oil prices. Oil accounts for nearly 70% of its revenues and, as an oil dependent nation, revenue continues to dwindle. The economy has recorded the lowest GDP growth rate since the quarterly data has been released following drop …