Oil & gas stocks plunge on trade war fears
07 June 2019 | 5:42 am
Nigeria’s equities market closed bearish on Monday dragged by heavy losses in the oil and gas sector. Oise Ajayi, Senior Analyst at Meristem Securities joins CNBC Africa to discuss activities that will shape the trading day.
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After months of negotiation, the EU reached an agreement on a gas price cap at 180€ per megawatt hour. However, concerns remained about its impact on gas supples.
Economy Minister Robert Habeck said Germans are not using as much heating as the prior year, despite the cold winter.
The busy Kiel Canal in northern Germany, linking the North Sea with the Baltic Sea, has come to a halt as crews try to clear the oil from waters after a pipeline leak.
Shell Petroleum Development Company (SPDC) yesterday announced that it would pay €15 million to farmers in three Niger Delta communities as compensation for damages to their farms from pipeline leaks between 2004 and 2007.
Pakistanis are increasingly using plastic bags for gas storage, but it's extremely dangerous and poses risks to life and property.
Gas prices in Europe have fallen to pre-Ukraine invasion levels and it seems we might avoid a full-blown energy crisis this winter. But experts expect a tough winter 2023/24.
Uganda on Tuesday commissioned the first of its four planned oil rigs and the start of drilling the first production well, a key milestone as the country races to meet its target of first oil output in 2025 after a long delay.
More than 13,000 Nigerian residents take Shell to court over oil spills. The claim from 11,317 people and 17 institutions in the Niger Delta area of Ogale was filed last week, according to Leigh Day, the U.K. law firm representing the plaintiffs.
The Big Oil bonanza keeps on coming, as France's TotalEnergies rounds out a week of record profits. Oil and gas giants have faced growing criticism about their environmental impact, as well as calls to pay higher taxes while households and businesses struggle with high energy prices.
The five largest Western oil firms announced nearly $200 billion in profits after the Ukraine war sent energy prices soaring. As China reopens, oil demand is likely to stay strong, alongside calls for windfall taxes.
Social media users claim that the devastating Turkey-Syria earthquake also damaged a major gas pipeline that supplies Europe with Azerbaijani gas, now leaving the continent at risk of a shortage due to the destruction. But what's true and what's fake? We take a closer look in this edition of Truth or Fake with Vedika Bahl.
In a bid to tackle the energy crisis, Dutch authorities have approved offshore drilling for gas in the North Sea. The first gas is set to be extracted in 2024, but the project has sparked controversy on the surrounding islands. Residents fear that drilling for gas will damage the exceptional biodiversity of the area, pollute the Waddenzee - a UNESCO world heritage site - and threaten the islands main source of income, tourism.
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India and Pakistan traditionally have hostile relations, but there is hope on one front, at least. In order to enable the Sikhs from India to make a pilgrimage to one of their holiest shrines, a "peace corridor" has been opened between the two countries.
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