U.S. output set to drop significantly after negative prices
Oil refiners to curtail processing as fuel demand remains weak
Negative oil prices, ships dawdling at sea with unwanted cargoes, and traders getting creative about where to stash oil. The next chapter in the oil crisis is now inevitable: great...
Oil resumed its decline to trade near US$15 a barrel as swelling global crude stockpiles made it more difficult for leading producers to balance the market by curbing output.
Futures in New York slid as much as 11.8%, snapping a four-day gain. While U.S. drilling is sliding and Saudi Arabia has started reducing output ahead of...
May seem that the worst-case scenario has already come to pass, as United States crude prices plunged far below zero on Monday, with the West Texas Intermediate crude benchmark closing out the day at negative $37.63 per barrel and the international Brent Crude benchmark hitting an 18-year low. While...
The oil majors are facing a financial vice like they never have before.
With oil prices hovering around $20 per barrel and no end in sight for the global pandemic, the financial pain has only just begun. Norway’s Equinor became the first large oil company to cut its dividend, slashing it...
The West Africa Gas Pipeline Company (WAPCo) has assured of reliable gas supply in the country even in the face of the disruption caused by the Coronavirus pandemic.
While the gas supplier admitted to challenges being encountered in moving technical staff from one place to the other, it said it...
Tullow to use money to reduce $2.8 bln debt burden
Targets divestments of at least $1 bln this year
Total says pleased to acquire fields for less than $2/bbl
Total has agreed to buy Tullow Oil’s entire stake in jointly-held onshore oil fields in Uganda for $575 million, Tullow...
The global oil industry is saddled with a sudden lack of demand due to the coronavirus economic slowdown. Early this week, Brent crude oil - which is similar in quality to Ghana’s crude - was trading at a long-term low of just US$18 per barrel.
This means that all Ghana’s...
The country’s total output for last year has shown a marginal improved growth over that of 2018, as figures from the Ghana Statistical Service (GSS) indicate the economy grew by 6.5 percent - largely driven, once again, by oil.
This is a 0.2 percentage point higher than the 2018 growth,...
The issue of inequality at the workplace have been discussed extensively by many authors. But one sector in which women’s participation is below that of the broader economy, is the energy sector. Despite making up 48 percent of the global labour force, women only account for 22 percent of...
Tullow Oil plc (Tullow) has appointed Rahul Dhir as Chief Executive Officer and an Executive Director of the Group. His appointment will take effect July 1, 2020, the company said in a statement.
The statement added that Dorothy Thompson, currently Executive Chair of Tullow, will return to her position as...