In an effort to stem a global oil rally that is driving up gas prices, the Trump administration is taking part in a record‑breaking, multinational release of oil from its strategic stockpiles.
The government of Nigeria has approved a fiscal incentive package to accelerate progress towards a positive FID on the Bonga Southwest Aparo (BSWA) deepwater project, the Nigerian National Petroleum Corporation (NNPC) announced on Tuesday.
Energean has agreed to acquire Chevron’s interests in two offshore oil blocks in Angola for a base consideration of USD 260 million, the company said on Thursday.
TotalEnergies has restarted production at the Mabruk oil field in Libya, returning the onshore asset to service more than a decade after operations were halted.
Crude oil prices rising above $100 per barrel could soon translate into higher fuel prices across West Africa, according to James Gooder, vice president for crude markets in Europe and Africa at Argus Media.
The Middle East war is creating the biggest oil supply shock in history, the International Energy Agency
warned Thursday, as Iran launched a new wave of attacks against Gulf energy targets that sent prices spiking
above $100 a barrel.
Member countries of the International Energy Agency unanimously agreed Wednesday to release 400 million barrels of oil into the global market – the largest release of emergency oil stocks in history – in a drastic move aimed at shoring up crude supplies and capping a surge in prices caused by the conflict in the Middle East.
The Tema Oil Refinery (TOR) has reaffirmed that it has the technical capacity to refine crude oil produced from Ghana’s oil fields, countering claims suggesting the refinery is unable to process locally sourced crude.
Economist Dr Adu Owusu Sarkodie has stated that the escalating war in the Middle East could unexpectedly increase Ghana’s revenue if global oil prices continue to rise.
Liquefied natural gas suppliers, including Shell Plc, are declaring force majeure on customers across Asia due to the shutdown at the world’s largest export plant in Qatar, according to people with knowledge of the matter.