Jubilee and ENI partners have announced investments totalling $3.5 billion in Ghana’s oil sector, Ghana Investment Promotion Authority (GIPA) CEO Simon Madjie has said. Speaking on Joy News’ PM Express Business Edition on Thursday, he highlighted the commitments as evidence of activity in the sector. He also pointed to interest from other international oil […]
Shell and Chevron have signed a memorandum of understanding to explore opportunities in Ghana’s Eastern Keta Basin, Ghana Investment Promotion Authority (GIPA) CEO Simon Madjie has said. Brazil’s Petrobras has also expressed interest in the country’s oil acreage and blocks, adding to activity in the petroleum sector. Speaking on Joy News’ PM Express Business Edition […]
Sahara Group, through its subsidiary Asharami Ghana, has commissioned a 6,000 metric-tonne liquefied petroleum gas storage facility at the Tema Oil Jetty in Ghana. The Chief Executive of the National Petroleum Authority, Godwin Tameklo, said the facility had expanded Ghana’s LPG storage capacity by approximately 10 per cent and would improve supply reliability as the […]
Under a new agreement formalized earlier this month, Yinson Production, the operator of the FPSO John Agyekum Kufuor will add new gas compression and treatment modules to the Sankofa FPSO John Agyekum Kufuor, offshore Ghana, increasing gas export capacity by more than 60% while extending the vessel’s lease period to 2036. The project, to be […]
Shell has signed an agreement to acquire a 30% interest in Equinor’s Bay du Nord offshore oil project in Newfoundland and Labrador, Canada, as the companies advance the estimated C$14 billion development toward a final investment decision in early 2027. Under the agreement, Equinor will retain a 70% interest and remain operator of the deepwater […]
Petrobras has made a second oil discovery in its ultra-deepwater Morpho exploration well offshore Brazil, encountering another oil-bearing interval in the Foz do Amazonas basin. Source: worldoil.com The latest discovery was made in the Morpho well (1-BRSA-1405-APS), located in block FZA-M-59 off the coast of Amapá, in water depths of approximately 2,886 meters (9,469 ft). […]
Eni SpA and Repsol SA are considering bringing in outside investors into the giant Perla natural gas field off Venezuela’s coast, as the Trump administration pushes to unlock the South American country’s energy reserves. The two partners, which each own 50% of the offshore venture, are evaluating whether to sell a portion of their […]
Major OPEC+ nations agreed to keep oil production quotas unchanged next month, as conflict in the Middle East continues to shutter swaths of the group’s output. A sub-group of seven countries led by Saudi Arabia and Russia will keep targets steady in November, the coalition said in a statement following a monthly video conference […]
Oil prices edged lower on Monday, October 5, as increased exports from the Middle East and an agreement by the Group of Seven countries to release oil and diesel from strategic reserves weighed on the market.Brent crude futures fell 66 cents, or 0.65%, to $101.59 a barrel. WTI crude lost 95 cents, or 1.03%, to […]
Seven of the world’s largest oil-exporting countries agreed Sunday to maintain their baseline production levels for November, as fuel prices remain elevated amid the Iran war. The “OPEC+” group, which includes Algeria, Iraq, Kazakhstan, Kuwait, Oman, Russia and Saudi Arabia, decided to “maintain” oil production levels they agreed to in September, the Organization of the […]