The precious metal is up more than 20% this year amid mounting optimism on monetary easing and large purchases by central banks. It also has seen increased demand as a haven asset due to rising geopolitical risks, including tensions in the Middle East and Russia’s war with Ukraine.
Bullion began shooting higher earlier in the year — surprising seasoned analysts and veterans as there wasn’t always a clear macro catalyst to justify its price rally. It sustained those gains even as traders dialed back bets on the timing of rate cuts. More recently, gold has ticked higher as US officials widely are expected to start lowering rates soon.
Diese Geschichte stammt aus der August 2024-Ausgabe von Offshore Africa.
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Diese Geschichte stammt aus der August 2024-Ausgabe von Offshore Africa.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
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DUBAL Successfully Completes Rooftop Solar Power Generation Project
DUBAL Extrusion Investment (DEI), a wholly owned subsidiary of DUBAL Holding (DH), successfully completed the rooftop solar power generation project (phase I) at OSE Industries, a local aluminium extrusion company owned by DEI, reinforcing its commitment to sustainability and contributing to the UAE’s renewable energy goals.
Bell 525 Helicopter on Oil & Gas Missions
The Bell 525 Relentless is an American super-medium helicopter developed by Bell Textron and designed to transport up to 19 passengers. The Bell 525 provides the ultimate platform for crew, passengers and maintainers. The award-winning helicopter offers the ruggedness, comfort, and flexibility needed in a difficult terrain, such as the offshore oil and gas environment.
Nigeria Licenses First Floating LNG Plant
Nigeria is set to have its first-ever floating LNG plant, as the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has granted UTM Offshore Limited permit to operate a floating liquefied natural gas plant to harvest flared gas from an ExxonMobil oil field in the Niger Delta of the country.
Bentley Systems Acquires 3D Geospatial Company Cesium
Bentley Systems, Incorporated the infrastructure engineering software company, has acquired 3D geospatial company Cesium. Cesium is recognized as the foundational open platform for creating powerful 3D geospatial applications, and its 3D Tiles open standard has been widely adopted by leading enterprises, governments, and tens of thousands of application developers globally.
Structural twin unlocks 35% OPEX reduction as Akselos launches Structural Performance Management for FPSOS
Akselos, a global leader in Structural Performance Management (SPM), launches its cutting-edge SPM for FPSO 4.0 software. The revolutionary software enhances asset performance, ensures uninterrupted operations and extends asset life of FPSOs.
Energy-starved Zambian Copper Mines Switch to Power from South Africa
Zambia’s biggest mines are turning to a surprising power source as the copper-producing nation battles an unprecedented energy crisis: South African electricity company Eskom Holdings SOC Ltd., which until March faced its own severe deficit.
Widespread Power Cuts Trigger Energy Concerns in Kenya
For the second time in a week (in early September) several parts of Kenya were cut off the national grid power, fuelling fresh concerns of a debilitating power crisis in the East African country.
Ethiopia Hikes Electricity Tariff, Subsidizes Poor Households
Ethiopia began implementing increases to electricity tariff on September 11, 2024 as part of a four year plan to boost revenue, however lower income consumers will get differentiated subsidy packages the state utility has pledged.
Aquaterra Energy Launches Offshore CCS and Hydrogen Storage Projects
Aquaterra Energy, a leader in offshore engineering solutions, today announces the launch of its legacy well re-entry and re-abandonment services along with its new patent-pending Recoverable Abandonment Frame (RAF). The combined solution will address challenges in locating, re-entering and re-abandoning legacy wells that penetrate, or pass through, offshore oil and gas reservoirs or saline aquifers that have been earmarked to be repurposed for carbon dioxide (CO2) or hydrogen storage.
Dangote Refinery Supplies 25M Litres of Petrol to Domestic Market
Nigeria’s state-oil firm NNPC started lifting locally refined petrol from the Dangote refinery on Sunday, 15 September 2024, thus easing recurring petroleum shortages across the vast West African nation. NNPC had mobilized hundreds of petrol tankers (at least 300) to the facility ending decades of the country relying on imports, which cost billions of dollars annually.
