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Publishing date: Jul 01, 2021 • 1 hour ago • 2 minute read • Article content (Bloomberg) Oil held its overnight gains in Asia after infighting within OPEC+ delayed a much-anticipated decision on output levels, risking an inflationary spike in prices if the group can’t come to an agreement. Futures in New York traded above $75 after jumping 2.4% on Thursday. The alliance was forced to postpone its decision on monthly production after the United Arab Emirates blocked a deal at the last minute. The standoff could ultimately lead to OPEC+ not increasing output at all, according to a delegate, which would mean the cartel would fall back on existing terms that call for production to remain unchanged until April 2022. ....
Vanguard News Lack of funds, feedstock, hinder construction of 32 refineries On Kindly Share This Story: By Udeme Akpan, Energy Editor AS Nigeria continues to record high level of expired refinery licences, experts, Tuesday, identified lack of funds and feedstock, as factors militating against the construction of new plants. The experts, who expressed their positions in different interviews with Vanguard, said such investors have the right to reapply for the renewal of their licences. Specifically, in an interview with Vanguard, Lead Promoter, EnergyHub Nigeria, Dr. Felix Amieyeofori, said: “The investors encounter many problems, including lack of funds and feedstock. But the good thing about it is that they have the right to reapply.” ....
Premium Content UAE And Israel Look To Forge Energy Ties Through New Pipeline By Vanand Meliksetian - Mar 09, 2021, 11:00 AM CST President Trump’s Middle East policy was highly incoherent and transformative as it didn t continue the long-term strategies set by previous presidents. However, it did achieve the unprecedented rapprochement between several Arab countries and Israel in the form of the Abraham Accords. Especially the normalization of ties between the UAE and Israel are quickly transforming the balance of power in the region. Already the two countries are discussing cooperation in science and innovation. Furthermore, energy ties are a promising area due to the complementarity of economies and strategic geolocation of Israel. ....