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 |

G20 backs OPEC+, But Deal in Jeopardy as Mexico Refuses Cuts

Mexico is the lone holdout in a global deal to save the oil and gas industry; US set to see production decline

In an historic effort to power the oil and gas industry out of its worst tailspin in its 100-year history, the United States, Canada and other G20 nations are backing the OPEC+ group of countries in a broad effort to reduce global oil supply and restore stability to the oil…

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
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Source: Africa Oil & Power Conference |

South Sudan and Egypt sign Landmark Cooperation Agreement at South Sudan Oil & Power 2019

The country will launch its first ever licensing agreement in the first quarter of 2020 regarding 13 blocks onshore open for tender

South Sudan and Egypt sign a Memorandum of Understanding regarding cooperation in the field of downstream oil and gas, during the 2019 South Sudan Oil & Power Conference; the country will launch its first ever licensing agreement in the first quarter of 2020 regarding 13 blocks onshore open for tender;…

Source: Africa Oil & Power Conference |

Alduco Engineering Services lauded in Africa-focused London Stock Exchange Group report

The report identifies the continent’s most inspiration and dynamic private, high-growth companies

Equatorial Guinea-based Alduco Engineering Services, a subsidiary of the Alduco Group of Companies, has been identified as a company to watch in the London Stock Exchange Group ‘Companies to Inspire Africa 2019’ report.  The 2019 report, which was launched in January, lists 360 companies from 32 different countries across the…