THE Joint National Assembly Committee on Petroleum Resources (Upstream, Downstream, Gas) has decried the 2024 budget of the Ministry of Petroleum, saying it for lacks the capacity to meet Nigerians expectations.
Record temperatures in Europe and North America extended the gas storage refill season, leading to high inventories.
Natural gas demand decreased due to warmer weather, an industrial slowdown in Europe, and record U.S. production and LNG exports.
Futures and options market winter premiums have diminished, contributing to a drop in Europe’s natural gas prices and bearish trends in the U.S. and Asian markets.
China’s stellar economic growth for many years pushed the prices of the major commodities it needed ever higher, almost single-handedly creating and sustaining the commodities supercycle over those years.
China’s economic growth target for 2023 was officially “around 5%”, which meant that it was almost certainly going to be attained on paper, regardless of the reality behind the figures.
One obvious sector of concern – among many others that are less so – is the property sector, which accounts for around a third of China’s entire GDP and about 65 percent of total household assets.
TechnipFMC has been named the winner of this year’s National Offshore Industries Association’s ESG Excellence Award.
Rigworld International Services Ltd, an oil and gas service company has signed a Memorandum of Understanding(MOU) with the University of
Mines and Technology (UMaT) to support the Department Chemical and Petrochemical Engineering to acquire the needed equipment and offer
students the opportunity to intern.
For the next decade, Latin America is likely to maintain its predominant role in the oil sector. Unlike past years, it can now count on Venezuela’s return to international markets, as the Biden administration has decided to lift the sanctions in force since 2019. This decision is mainly conditioned on the holding of transparent and democratic elections by 2024. This agreement will allow Venezuela to exploit its immense resources, represented by 303 billion barrels and over 5 billion of cubic feet of natural gas, ranking as the largest reserve in the world. Major international companies are already looking to seize this opportunity, including Eni and Repsol, which are currently finalizing the details of a contract with Petróleos de Venezuela Sa (Pdvsa), the state-owned company. As reported by Bloomberg, negotiations are at an advanced stage, and an agreement is expected to be reached by the end of the month.
Amaja Oilfield Limited in Conjunction with Amaja Tubular Services Limited, a joint venture between Tenaris and Amaja, has renovated Axim Road Key Primary School in the Sekondi- Takoradi Metropolis.
Yinson Ghana recently won the ‘Most Outstanding CSR Company’ award at the inaugural 2023 Local Content Conference and Exhibition ‘Awards Night’. The recognition is part of the Petroleum Commission’s effort to celebrate the achievements and contributions made by Upstream Petroleum Companies towards the Development of Local Content in Ghana. The Petroleum Commission regulates, manages and coordinates upstream petroleum activities and other support services in the petroleum sector.
The African Group of Negotiators on Climate Change (AGN), has assured the African civil society of its commitment to protecting Africa’s interests in the newly operationalized Loss and Damage Fund.
Axim is noted for many things in Ghana – Aside it being the area that records the highest rainfall in Ghana, it is also renowned for its people and their love for education. In fact, Ghana’s first leader, Kwame Nkrumah, taught as a pupil teacher here, while dreaming of making it big in politics.