After a series of dry wells were drilled in the Guyana-Suriname Basin from the 1960s through to the 1980s, offshore Guyana and Suriname were ignored by global energy companies. Interest was reignited by ExxonMobil’s discovery of the Liza oilfield in the 6.6-million-acre Stabroek Block offshore Guyana in 2015.
It seems that the global economy has been in a continuous state of flux this year. The headlines are repetitive to the point of being preposterous. This uncertainty has translated into high volatility that sent the fear gauge, VIX, to a 150-day high last month. It still remains elevated (albeit down from its recent peak), with most analysts seeming to fall into one of two camps. The first is worried about recession-induced demand destruction, while the second frets over the loss of supply. While both narratives have merit, in the short term it is demand destruction rather than a supply crunch that markets will have to deal with.
Oil prices fell on Monday, dragged down by a firmer U.S. dollar while surging coronavirus cases in China dashed hopes of a swift reopening of the economy for the world’s biggest crude importer.
Genser Energy has been praised for giving opportunities for more Ghanaians to work in providing energy solutions to the industrial and mining sectors of Ghana and other parts of Africa.
The decision by the Finance Minister, Ken Ofori-Atta to cap the Ghana Stabilisation Fund at $100 million and the use of excess money from the Fund for other emergency purposes is taking a heavy toll on the fund, an assessment by the Public Interest and Accountability Committee (PIAC) has revealed.
Energy Minister, Dr. Matthew Opoku Prempeh, has reaffirmed Ghana’s strong commitment to promoting clean cooking anchored on its 2030 agenda of 50% of its population having access to Liquified Petroleum Gas (LPG)
Fossil fuel lobbyists outnumber every national delegation but the UAE’s at the Cop27 climate summit and their influence shows – on the sidelines and in the negotiations.
Ecomnews Med, a website specialized in economic affairs in the Mediterranean, has expected achieving a record level of oil and gas revenues in Libya by the end of this year, reaching $37 billion.
Canada and the United States pledged to take further steps to reduce methane emissions from the oil and gas sector at the United Nations Climate Change Summit in Egypt.
The U Field is the deepest gas discovery of the Cluster-2 development, with gas production potential of about 3 MMcmd