Oil prices rose on Monday, supported by tighter supplies and a string of data expected to show economic recovery across the globe and despite a spike in coronavirus cases in the United States and other countries.
Brent crude LCOc1 was up 73 cents, or 1.7%, to $43.53 per barrel by...
Restrictions of visa issuance are de facto preventing a lot of projects to move forward and to successfully contribute to the recovery of the continent
The continuation of travel restrictions and suspension of visas and travel between Africa and Europe is heavily restraining the oil & gas industry’s recovery efforts....
CBOD advocates full utilization of oil resources now
COVID-19 presents the best opportunity to refine the Ghanaian economy by making it less reliant on imports and boosting the opportunities for local entrepreneurs to sustain future growth, two major advocacy groups have noted.
Senyo Kwasi Hosi, Chief Executive Officer of the Ghana...
Although crude production in 2019 went up 15 percent from 62,135,435.07 barrels in 2018 to 71,439,585 barrels, revenue accrued to the Petroleum Holding Fund (PHF) however dropped by some 5 percent within the same period.
The revenue went down to US$925million in 2019 from US$977million in 2018 from Royalties, Carried...
Price fluctuations in global crude and refined product prices are taking a heavy toll on Ghana’s downstream markets, resulting in Bulk Oil Distributors losing millions of dollars and throwing many indigenous Oil Marketing Companies out of business.
Out of the 130 oil marketing companies operating in the country, 50 -...
The Association of Oil Marketing Companies (OMCs) has said it will not allow any body other than the industry’s regulators to have oversight of their operations, saying such a move may cause damage to their machines.
This comes on the back of an announcement by the Executive Director of the...
Demands accountability on unutilised ABFA
The management of petroleum revenues remains flawed with numerous challenges, ranging from lack of transparency in utilisation of funds and a deviation in the core mandate of the Ghana National Petroleum Corporation's (GNPC), among others, 10 years on from the commercial production of oil...
Oil prices slid on Monday as concern grew that a record rise in coronavirus infections worldwide could stall a recovery in fuel demand, outweighing tighter supplies from major producers.
Brent crude LCOc1 fell 10 cents, or 0.2%, to $42.04 a barrel by 0655 GMT, while U.S. crude CLc1 was at...
Oil producing nations with a high average fiscal break-even, but also oil traders have been caught off guard by the plunge in oil prices this Spring.
Oil nations are forced to diversify faster or face the consequences.
The world’s largest oil trader has seen its first-quarter net profit...
George Mensah Okley, an energy expert, who, until a year ago, was the Managing Director of the Bulk Oil Storage and Transportation (BOST) company, has been confirmed dead earlier today.
Very reliable sources in executive management position at the company and its Senior Staff Association, confirmed to the B&FT that...