Africa Oil & Power Conference
Source: Africa Oil & Power Conference |

OPEC+ slashes production, saves Oil Industry from collapse

Up to 20 million barrels of oil per day could come off the market in combined efforts

In a watershed moment for the oil and gas industry, OPEC and its allies in the OPEC+ group finalized a deal on Easter Sunday that, in conjunction with efforts from the G20 and International Energy Agency, could see up to 20 million barrels of oil per day removed from a…

Africa Oil & Power Conference
Source: Africa Oil & Power Conference |

CORRECTION: OPEC+ at Brink of Ending Oil Price War, awaits G20 Meeting for OPEC++ Deal

From July to December, overall production cuts will lower to 8 million barrels per day, followed by 6 million barrels per day from January 2021 to April 2022

In a move to save the oil industry — facing the biggest crisis in its history — OPEC and Russia have agreed on new production cuts, with the OPEC+ group agreeing to eliminate 10 million barrels of crude per day for an initial two-month period to save a glutted oil…

Africa Oil & Power Conference
Source: Africa Oil & Power Conference |

Tarek el-Molla confirms attendance of 5th GECF Summit of Heads of State and Government in Equatorial Guinea

Equatorial Guinea set to host the 5th GECF Summit of Heads of State and Government for the first time on the African continent

Egyptian Minister of Petroleum, Tarek el-Molla confirms attendance to 5th GECF Summit of Heads of State and Government in Equatorial Guinea ;Equatorial Guinea set to host the 5th GECF Summit of Heads of State and Government for the first time on the African continent.; Strengthening and development of gas industry…

Africa Oil & Power Conference
Source: Africa Oil & Power Conference |

President of Angola to attend Gas Exporting Countries Forum (GECF) Heads of State Gas Summit

Angola joined the organization as an Observing Member in November

The President of Angola, H.E. João Lourenço, has accepted an official invitation to attend the Gas Exporting Countries Forum (GECF) (https://www.GECF.org) 5th Heads of State Summit held in Malabo in November. The invitation was delivered by the Minister of Mines and Hydrocarbons of Equatorial Guinea, H.E. Gabriel Mbaga Obiang Lima, during an…