Ghana has finally approved the Plan of Development (PoD) drafted by the Norwegian oil firm, Aker Energy, for the Pecan Field offshore the West African nation, energynewsafrica.com can report.
Production from Tullow Oil’s Jubilee field offshore Ghana has surged past 100,000 barrels per day, as contributions from its new $1 billion Jubilee South East (JSE) project begin to kick-in.
DALLAS–(BUSINESS WIRE)–Jul. 14, 2023– Kosmos Energy Ltd. (“Kosmos” or the “Company”) (NYSE/LSE: KOS) alongside its joint venture partners Tullow Oil plc (operator), Ghana National Petroleum Corporation and Petro SA is pleased to announce the successful start-up of the Jubilee South East (JSE) project, offshore Ghana.
Four groups of companies have made bids in Israel’s latest tender for offshore hydrocarbon exploration, the Energy Ministry said on Sunday.
Texas energy spokesmen support Enverus Intelligence Research’s expectation that the price of oil will hit $100 per barrel in the fourth quarter this year.
US energy firms last week cut the number of oil and natural gas rigs operating for the 10th time in 11 weeks, Baker Hughes said in its latest report.
The rig count, an early indicator of future output, fell by five to 675 in the week ended July 14.
The energy services firm said that puts the total count down by 81 rigs, or 11 percent, below this time last year.
The Nigerian National Petroleum Company Limited (NNPC) has said with all the ongoing upstream projects, it plans to meet its 40 billion barrels crude oil reserves target by 2030.
OPEC has lifted its crude oil demand forecast for 2023, to 2.4 million barrels per day (bpd), according to the group’s latest Monthly Oil Market Report (MOMR) released on Thursday.
Bullish sentiment has been growing in oil markets this week, with inflation in the U.S. slowing dramatically and markets tightening on the back of supply disruptions and production cuts.
Libya’s largest oilfield was fully halted amid protests on Friday as tensions in the restive African OPEC producer returned and are set to reduce global oil supply at a time when Saudi Arabia is cutting production by 1 million barrels per day (bpd) and Russia has promised a 500,000-bpd cut to exports in August.