The Auditor-General (A-G) has submitted a report on the Management of Petroleum Funds for 1st January 2018 to 31 December 2018 to Parliament.
A statement signed by Mrs Ama Awoe-Bosumafi Assistant Director of Public Relations Unit on behalf of the Director General, and copied to the Ghana News Agency, in...
In the second week of December last year, one issue that emerged at the energy sector front, particularly the downstream sector in Ghana and was discussed in the media was the increment of Bulk Oil Storage and Transportation (BOST) Company Limited’s margin.
The government, through the downstream regulator, National Petroleum...
Oil slumped on Monday, extending last week's losses, as new coronavirus infections hit China, Japan and the United States' increasing concerns that a resurgence of the virus could weigh on the recovery of fuel demand.
Brent crude futures fell $1.32, or 3.4percent, to US$37.41 a barrel by 0716 GMT, while...
Due to the recent fall in oil prices that hit the oil and gas industry, deepwater oil and gas operators around the globe were forced to come up with innovative solutions to minimise development Capital Expenditure (CAPEX) and make deepwater oil and gas development projects economically feasible.
One solution proposed...
The oil market collapse caused by the COVID-19 pandemic is set to delay several oil and gas developments in Western Europe, putting capital expenditure in the offshore sector on a continued downwards trajectory through 2022.
In light of the postponement of multiple final investment decisions (FIDs) on projects and lower...
In the United States, nuclear energy just can’t catch a break. Despite the fact that generating carbon-free energy has never been more important, the nuclear energy industry has been waning for years in the U.S. and now struggles to turn any profit, even while nuclear energy industries are going...
OPEC, Russia and allies agreed on Saturday to extend record oil production cuts until the end of July, prolonging a deal that has helped crude prices double in the past two months by withdrawing almost 10% of global supplies from the market.
The group, known as OPEC+, also demanded countries...
Insights from the African Economic Outlook report for 2020 indicate that although the economy of Africa grew at 3.4% in 2019, North Africa accounted for the largest economic output, contributing 44% of economic growth in Africa – the high level of economic growth in the region is mainly attributed...
Aker Energy Ghana Limited has reaffirmed its commitment to finding a solution that will allow for the commencement of a phased development of the Pecan field offshore Ghana.
“In a time when most other E&P companies are putting development projects on the shelf due to the COVID-19 situation and historic...
The Association of Oil Marketing Companies (OMC) has said that by end of this week its members will increase petroleum prices by a minimum of 14 percent.
Kwaku Agyemang Duah, the association’s chairman, told the B&FT that the move is due to some significant events during June’s first pricing window...