As the novel coronavirus continues to bite hard and ravage livelihoods and economies, Oil Marketing Company, GOIL Company Limited has demonstrated its commitment towards the welfare of the country by embarking on a number of interventions to limit the effects and spread of the pandemic.
The CIMG Hall of fame...
Springfield E&P (SEP) and ENI Ghana Exploration Limited ( ENI) have been directed by government to commence immediate talks on unitization of the Afina and Sankofa fields offshore Ghana (operated by SEP and ENI respectively).
Based on technical evidence that the reservoir straddles both blocks, government directed in a letter...
With no end in sight, companies need to consider and take all necessary actions to mitigate all associated risks
The compounding effects of the corona virus and oil industry disruptions pose unique and significant challenges, particularly on the African continent where the economies of producing countries are largely dependent on...
The oil market is facing an unprecedented crisis as COVID-19 causes demand destruction and OPEC+ has proven powerless to stop oil prices from crashing. But behind what seems like an endless flow of bearish news, a new bull market is already forming.
CAPEX and OPEX cuts by nearly every oil...
There has been a ray of hope: a landmark production-cut agreement among OPEC, OPEC+ and G20 stakeholders on April 12 put an end to the oil price war
Stunning drops in crude oil prices—the result of COVID-19-related declines in demand and an oil price war between Saudi Arabia and Russia—have...
Managing Director of Bulk Oil Storage & Transportation Company Limited (BOST), Edwin Provencal, has called on government to approve the implementation of the adjusted BOST margin levy of GH¢0.03 per litre to GH¢0.12 to ensure efficient running of the organization.
He explained that the current BOST margin of GH¢0.03, which...
Nigeria’s oil and gas exports are expected to decline by at least $26.5 billion as the novel coronavirus batters international prices and cuts fuel demand, the International Monetary Fund said late last week Wednesday.
Nigeria, Africa’s largest oil exporter, told the IMF in a letter requesting emergency financial assistance that...
…Toward new imperatives for natural resource diversification
Humanity is witnessing some of the most profound changes seen since the Great Depression. And, again, it is the vulnerable among us who will suffer the worst consequences. We are out on a limb, witnessing the most disruptive global transformational mutations observed in...
The oil market appeared to have weathered the storm of the 2015 price collapse and had responded with considerable accomplishments. By November 2017, domestic crude oil production had recorded its highest level in U.S. history. International trade in crude oil and petroleum products was booming with exports of 6.6...
The impacts of the current crisis are wide and affecting both Africa’s most promising exploration prospects, but also its multi-billion-dollar landmark projects.
The double crisis of the COVID-19 pandemic and the collapse in oil prices is taking a toll on African economies and the African energy industry. An unstable and...