The managing director of Bulk Oil Storage and Transportation Company, Edwin Provencal says some private bulk distribution companies (BDCs) have been importing petroleum products at cheaper rates than under the government’s gold-for-oil programme.
Nigeria’s oil and gas sector is currently feeling the impact of about $21 billion in divestments by oil multinationals, as its upstream capital expenditure assumes a downward trend.
CAIRO, April 25, 2023 – Chevron is readying a tender for a drillship to explore natural gas options in Cyprus, Egypt and Israel, Reuters reported on Monday.
MEXICO CITY, April 26, 2023 – Wintershall Dea has made a major oil discovery at the shallow-water Kan prospect on Block 30 in Mexico, the German oil and gas operator announced on Tuesday.
Since the 2020 COVID-19 pandemic, Colombia’s economically crucial oil industry has struggled to recover. During 2022, Colombia only pumped an average of 754,199 barrels daily, which is significantly lower than the 885,851 barrels per day produced in 2019.
On April 13, Azerbaijani President Ilham Aliyev paid an official visit to Sarajevo, Bosnia-Herzegovina. While there, Aliyev met with his counterparts, the members of the Bosnian tripartite presidency, Željka Cvijanovi?, Denis Be?irovi? and Željko Komši? (Azertac, April 13).
In this week’s newsletter, we will take a quick look at some of the critical figures and data in the energy markets this week.
Global refining margins have halved since February as Russian crude exports remain elevated despite sanctions, boosting fuel output from China and India, Reuters has reported, noting the coming boost in global refining capacity.
Oil prices were steady on Tuesday as investors weighed strong holiday travel in China that could boost fuel demand against the prospect of rising interest rates elsewhere, slowing economic growth.
The total revenue from royalties for the three oil fields in Ghana was US$302,954,860.69 in 2022 compared to US$185,683,636.46 in 2021, representing 63.2 per cent increase, the 2022 annual report of the Public Interest Accountability Committee (PIAC) had noted.