LONDON/JERUSALEM, Aug 7 (Reuters) – Israel’s Leviathan natural gas field has signed the largest export agreement in the country’s history, worth up to $35 billion to supply gas to Egypt, NewMed , one of the partners in the field, said on Thursday.The deal should ease an energy crisis in Egypt, which has spent billions of...
Author: Energy Crossroad (Energy Crossroad)
Post
Post
Crude Oil and Refined Products Market Review and Outlook
Heightened geopolitical tensions and hikes in supply-risk premiums resulted in a temporary surge in crude oil prices in June by about 13%. This was largely due to the impact of the Israel–Iran conflict that resulted in the Parliament of Iran threatening the closure of the Strait of Hormuz, which accounts for about 20% of the...
Post
Guyana gasoline prices now lowest in the Caribbean region.
Guyana recorded the lowest gasoline price in the Caribbean region in July, well below the global average, according to data shared by the Energy Chamber of Trinidad and Tobago last Thursday. The Chamber’s analysis, which drew on figures from globalpetrolprices.com, shows that gasoline in Guyana retailed at approximately US$0.81 per litre in July, compared to...
Post
Namibia picks South African nuclear tech for Walvis Bay oil refinery.
Namibia has selected South African-developed nuclear technology to power a new oil refinery planned for Walvis Bay, with the project set to be driven by the Dune 7 Special Purpose Vehicle and backed by the Namibian government. The refinery, designed to process 300,000 barrels per stream day (BPSD), will utilise the High Temperature Modular Reactor...
Post
Where to find oil and gas in the Philippines: Proven reservesIncreased exploration, drilling pace
According to Statista, citing official Department of Energy (DoE) data, the island nation holds 139 million barrels of “proven” reserves, as of 2024. That’s equivalent to an estimated market value of $9.61 billion (based on mid-2025 oil market data). There could be more.The Philippines is said to be “sitting” on a gold mine of untapped...
Post
Exxon Signs Oil Deal in Libya
Exxon has inked a preliminary deal for exploration at four offshore blocks in Libya after a decade of absence from the country. The news was reported by Libya’s National Oil Corporation, which said the U.S. supermajor will conduct a detailed technical study of the blocks that are located off the country’s northwest coast and the...
Post
Petroleum revenues slump 56% in first-half 2025, sharp decline reflects falling output, global price pressures
Petroleum revenues fell by more than half in the first six months of 2025, dropping 56 percent year-on-year to US$370.6million amid a double blow from declining crude oil output and weakening global prices, according to data from the Bank of Ghana (BoG). This development marks a steep reversal from the same period in 2024, when...
Post
China’s CC7 to build 3GW green ammonia plant for Hyphen in Namibia.
China National Chemical Engineering & Construction Corporation Seven (CC7) has been awarded the contract to design and build the world’s largest green ammonia plant in Namibia. The deal with Hyphen Hydrogen Energy includes Front-End Engineering Design (FEED) and Engineering, Procurement and Construction (EPC) contracts. The signing was witnessed by China Chemical Chairman Mo Dingge and...
Post
Dangote Refinery Saves Nigeria $20bn in Fuel Import, Report Shows
The 650,000 barrels per day capacity Dangote Petroleum Refinery in the Ibeju-Lekki area of Lagos is currently bailing the Federal Government out of a pressing financial crisis with the steady supply of foreign currencies, Business Hallmark can report shows. The continued flow of FX to the refinery owned by Africa’s richest man, Alhaji Aliko Dangote,...
Post
BP hails Brazil block as its largest global oil and gas find in 25 years
BP (BP.L), opens new tab has made its largest global oil and gas discovery in 25 years in Brazil’s Santos basin, it said on Monday, in what may be a major boost for the British company’s strategic shift away from renewable energy to refocus on fossil fuels.BP is seeking to bolster oil and gas in...