The first tanker loaded with Azeri crude left on Monday the Turkish port of Ceyhan, a week after the devastating earthquake in Turkey and Syria halted operations at the Ceyhan terminals.
As Russia’s March 500,000 bpd output cut nears, data from Bloomberg shows that Russia seaborne crude exports have already fallen to a six-week low, but the markets remain relatively unperturbed.
European governments’ bill to shield companies and households from soaring energy costs has soared to nearly 800 billion euros, Brussels-based think-tank Bruegel has revealed.
Things are different now in the global energy markets to the way they were just after Russia invaded Ukraine on 24 February 2022. Back then, things from the oil markets’ perspective looked bleak, with Europe importing around 2.7 million bpd of crude oil from Russia and another 1.5 million bpd of oil products, mostly diesel.
Crude oil prices started the week with a loss as traders await the latest inflation reading from the United States and the market prices in Russia’s stated plans to reduce oil production by half a million barrels.
Tullow Oil Plc has announced that Tullow Ghana Limited (TGL) has filed requests for arbitration with the International Chamber of Commerce in London in respect of two disputed tax assessments received from the Ghana Revenue Authority (GRA).
Ghana’s oil production will grow slightly in the near term, with crude oil and other liquids production increasing from 142,440 barrels per day in 2022 to 145,390, Fitch Solutions has disclosed
Ghana’s oil production outlook is hanging in the balance amid the delay of the Pecan Oilfield development.
Iraq has awarded oil concessions to Crescent Petroleum and other Chinese companies as part of its fifth licensing round, Iraq’s Oil Minister Hayan Abdul Ghani was quoted on Thursday as saying.
Malaysia’s national oil and gas company Petronas has reached agreement to sell its entire 74% majority stake in South Africa’s Engen to Vivo Energy, one of the largest African fuel retail operators and part of multinational energy company Vitol.