Global refining margins have halved since February as Russian crude exports remain elevated despite sanctions, boosting fuel output from China and India, Reuters has reported, noting the coming boost in global refining capacity.
Oil prices were steady on Tuesday as investors weighed strong holiday travel in China that could boost fuel demand against the prospect of rising interest rates elsewhere, slowing economic growth.
The total revenue from royalties for the three oil fields in Ghana was US$302,954,860.69 in 2022 compared to US$185,683,636.46 in 2021, representing 63.2 per cent increase, the 2022 annual report of the Public Interest Accountability Committee (PIAC) had noted.
Public Interest and Accountability Committee’s (PIAC) report on the field for the year 2022 has revealed that Ghana’s petroleum industry generated a record revenue of US$1.43 billion in 2022, the highest
since the inception of oil production in the country.
Ghana recorded a total petroleum revenue of US$1.43 billion in 2022, representing an 82.4 per cent increase of US$783.3 million achieved in 2021.
Following three successful editions that united a strong slate of players from across the regional and global energy landscape, the Angola Oil & Gas (AOG) conference and exhibition makes its return in 2023 for its fourth edition, bringing together African energy and petroleum ministers, global investors and thought-leaders and project developers and service companies to discuss the future of Angolan energy.
After weeks of rising, oil prices appear to have lost upwards momentum after the 2 April announcement of voluntary output cuts failed to counter worries about demand linked to a weakening economic backdrop and a hawkish Federal Reserve.
We all know who the biggest producers of crude oil in the world are and can list the top three without effort. But here’s the thing – the biggest producers are not necessarily the countries with the biggest reserves.
China’s economy grew by 2.2 percent on a seasonally adjusted basis in the first quarter (Q1), a massive improvement on the previous quarter’s 0.6 percent growth. Also positive from the economic perspective was that this was the third straight quarterly expansion after China began to ease COVID-19 restrictions in the second half of last year.
Russian President Vladimir Putin belied that his invasion of Ukraine in 2022 would go largely unopposed by the U.S. and its allies for the same reason that he was able to invade the country in 2014 and annex Crimea.