Brent crude for July, which expires on Tuesday, rose US$2.19, or 1.8%, to US$123.86 a barrel at 0650 GMT, after earlier rising to US$124.10 – its highest since 9 March
PIAC has expressed worry over the manner in which oil revenue is used to pay judgement debt awarded against the state.
The U.S. dollar and oil prices are frequently inversely related due to the fact that oil is priced in dollars which makes it relatively more expensive to buy with other currencies.
The current market situation was attributed to a disruption in supply following moves to ban Russian oil by the European Union
The “Scaling-up renewable energy Programme (SREP),” is to close Ghana’s 12.8 percent electricity reach deficit by increasing access to clean and reliable energy and support socioeconomic development.
Petroleum revenue contribution to the national budget over the last 10 years has been estimated at US$2.6billion,
The European Union’s REPowerEU seeks to reduce the European Union’s dependency on Russian fossil fuels and accelerate the transition away from carbon-intensive energy sources.
Russia’s oil and gas revenues hit another record high despite sanctions designed to hurt the Russian economy.
A three-day regional workshop on the validation of the ECOWAS draft petroleum code has opened in Accra.
The workshop comes on the back of ECOWAS’s initiative to provide the region with a regional petroleum code.
The executive director of the International Energy Agency spoke of the current challenges facing global oil markets on Monday, highlighting the significant influence Chinese demand could have over the next few months.